Blood Gas and Electrolyte Analyzer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Blood Gas and Electrolyte Analyzer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The blood gas and electrolyte analyzer market is expected to register a CAGR of 5% over the forecast period (2022-2027).

COVID-19 pandemic positively impacted the blood gas and electrolyte analyzers market. During the pandemic, several surgeries were postponed, and non-emergency hospitalization was canceled which impacted the market moderately. For instance, In July 2020, National Syndromic Surveillance Program (NSSP) found that emergency department (ED) visits declined 42% during the early COVID-19 pandemic, from a mean of 2.1 million per week (March 31–April 27, 2019) to 1.2 million (March 29–April 25, 2020), with the steepest decreases in persons aged ≤14 years, females, and the Northeast. The proportion of infectious disease-related visits was four times higher during the early pandemic period. However, there was a rise witnessed in the hospitalization rate of people suffering from COVID-19. Surging cases of the COVID-19 pandemic have increased demand for blood gas and electrolyte analyzers in hospitals, clinics, and point-of-care centers will positively influence the industry growth.

The blood gas analyzers are utilised to measure blood gas, electrolyte, pH, and some metabolites in the whole blood specimen. Rapid urbanization, changing lifestyles, wrong eating habits, blood vessel hemorrhage, chronic disorders, and technological advancements in blood gas analyzer are the major factors driving the blood gas analyzer market for the period. These analyzers offer various advantages for critical care patients and are ideal in the point-of-care testing segment. For instance, in September 2021, According to the National Heart, Lung and Blood Institute Atherosclerotic Risk in Communities (ARIC) study and Cardiovascular Health Study (CHS) there are 1,260,000 new and recurrent coronary attacks per year- about 37% of people experience a coronary attack in a given year die from it. The use of these analyzers in medical diagnosis is used to determine a patient disease and help in preventing such critical conditions contributing to market growth.

A large number of basic and complicated parameters are now being carried out for patients suffering from life-threatening respiratory disturbances and acid-base imbalances. For example, the epic Blood Analysis System wireless solution for testing by Alere, Inc (Abbott Laboratories) which features smartcard technology offers 11 tests from a very small sample of blood (92 µL, about 1/10th of a CC, sample).

The aging population is more at risk of contracting infectious diseases and they require continuous monitoring of their vital signs while treatment to avoid any health complications. For instance, According to the World Population Ageing Highlight 2020 report published by the United Nations, the global geriatric population is increasing rapidly around the world and in 2020, about 727 million people of age 65 years or more were living across the world which was about 9.3% of the total global population and also, the same report projected that the population of people of age 65 years or more will be about 1.5 billion people by 2050 which will be about 16% of the global population. Similarly, According to the October 2021 update of the World Health Organization, the percentage of people of age more than 60 years in the global population will increase from 12% in 2015 to 22% by 2050, of which, about 80% of the older people in 2050 will be living in the low-and middle-income countries. This data shows a significant rise in the geriatric population and where the majority of the older population would be residing. Thus, the increasing incidence of blood cancers, diabetes, and other blood-related disorders in the aging population is also expected to drive demand for electrolyte machines, blood glucose analyzers, and other blood gas analyzer equipment through 2027.

Thus, the aforementioned factors are witnessed to drive the demand for the blood gas electrolyte analyzer. Some of the major restraining factors in the market include the cost of the analyzer, reimbursement issues, and complicated regulations.

Key Market TrendsPortable Blood gas and Electrolyte Analyzers Segment is Expected to Witness Growth Over the Forecast Period

The portable devices are easy to use, handle, and with minimum maintenance requirements which helps in their better adoption rate. There are several companies that are investing in the development and marketing of these products. Though there is an edge for portable devices over conventional devices, concerns and challenges arise when there are being operated by non-laboratory staff such as nurses and physicians, which sometimes restricts the extent of results being obtained.

With that, in the emergency and critical care settings, it is important for the doctors/physicians and laboratorians to build upon the synergistic efforts toward using portable devices in Point of Care Testing (POCT) and conventional laboratory settings. With that, the positives and benefits of using such devices are more, which drives the adoption rate of these products in the market, over the forecast period.

The increasing product launches and collaborations are further driving the growth of the segment. For instance, In January 2021, ENVEA presents its new portable multi-gas monitor MIR 9000P designed to meet the specific needs of regulatory and periodic MIR 9000P is compliant with international directives and standards such as United States Environmental Protection Agency and EN 15267-4, the latest European standards for Portable Automatic Measurement Systems. It guarantees high accuracy and extended measuring ranges for 8 parameters (NOx, SO2, CO, CO2, CH4, N2O, O2 and residual H2O). Similarly, Boditech Med (Gang-won-do, Korea) has launched its immunoassay analyzer AFIAS-10 with blood collection tube, including an all-in-one cartridge system, at MEDICA 2021. The AFIAS-10, is a unique integrated Sample-to-Answer system that can execute 10 parallel tests for each different parameter. AFIAS-10 provides a quick and simplified operation and reliable test result with automatically collecting a sample from a blood tube. Boditech showcased its range of parameters that can be executed on the AFIAS-10 covering the areas of cardiac, cancer, diabetes, hormones, infections and autoimmune, among others. Thus, all these launches are driving the growth of the market.

North America is is Expected to Dominate the Hair Removal Devices Market

North America is expected to dominate this market in terms of revenue generation, over the forecast period. The large presence of domestic and international medical device companies from both the developed and emerging markets boost the demand and growth of analyzes in the country. The region is expected to witness high demand for products such as arterial blood gas machines, electrolyte analyzer machines, blood oxygen analyzers, etc.

High healthcare expenditure and rapid adoption of advanced technologies are expected to provide highly rewarding opportunities for blood gas and electrolyte analyzer companies in this region. The better network between the multispecialty hospitals with the insurance companies and medical device companies drives the importance of this market in the United States. For instance, in March 2020, Siemens Healthineers RAPIDPoint 500e Blood Gas Analyzer, used in critical care settings received the United States Food and Drug Administration approval.

Furthermore, medical tourism also attracts many patients from many countries to get better healthcare facilities in the region. The growing preference for point-of-care testing by both companies and hospitals fuels the growth of the studied market in the region. For instance, the American Association for Clinical Chemistry funded USD 5,000 for point-of-care testing research. This research grant is expected to help in the research and technological advancement particularly intended for clinical laboratorians to explore new ideas in areas where funds are normally not available.

Such initiatives by government authorities are expected to foster the regional market trends.

Competitive Landscape

The companies in this market have advanced technology in providing analyzers with display monitors to monitor the patients before electronically transferring them for permanent records within information management systems. Some of the major players active in this market include Abbott Laboratories, Dalko Diagnostics, Erba Diagnostics, F Hoffman La Roche Ltd., Medica Corporation, Nova Biomedical, Siemens Healthineers AG, Werfen and Danaher Corporation (Radiometer).

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