Blood Gas and Electrolyte Analyzer Market by Product (Blood Gas Analyzers, Electrolyte Analyzers, and Combined Analyzers), by Modality (Portable and Benchtop), by Medical Condition (Cardiovascular Disorder, Kidney Dysfunction, Respiratory Disorders, Diabe

Blood Gas and Electrolyte Analyzer Market by Product (Blood Gas Analyzers, Electrolyte Analyzers, and Combined Analyzers), by Modality (Portable and Benchtop), by Medical Condition (Cardiovascular Disorder, Kidney Dysfunction, Respiratory Disorders, Diabetes, Sepsis, and Others), and by End User (Hospitals, Ambulatory Surgical Centers, and Diagnostic Centers) – Global Opportunity Analysis and Industry Forecast, 2023–2030

Meta Title: Blood Gas and Electrolyte Analyzer Market Size and Share | Statistics - 2030
Meta Des: Blood gas and electrolyte analyzer market was valued at USD 1.8 billion in 2022, and is slated to reach USD 3.5 billion by 2030, due to rising aging population.

Blood Gas and Electrolyte Analyzer Market
Domain – Life Sciences & Healthcare
Sub Domain – Medical Devices

The blood gas and electrolyte analyzer market size was valued at USD 1.8 billion in 2022, and is projected to reach USD 3.5 billion by 2030, with a CAGR of 6.9% during the forecast period, 2023–2030.

The growing geriatric population worldwide is a significant factor driving the growth of the blood gas and electrolyte analyzer market. As the global population ages, there is an increased prevalence of age-related health conditions and chronic diseases among older adults. According to the latest report published by the World Health Organization (WHO) in 2022, the number of people aged above 60 reached 1.4 billion in 2020, and is anticipated to reach 2.1 billion by 2050.

The blood gas and electrolyte analyzer market is experiencing significant growth, primarily driven by the escalating healthcare expenditure worldwide. Healthcare providers invest heavily in advanced diagnostic and monitoring technologies, including blood gas and electrolyte analyzers. For instance, according to the report published by the Centers for Medicare & Medicaid Services, the national health expenditure reached USD 4.3 trillion in the U.S. in 2021. Also, China's healthcare expenditure reached 5.59% of its GDP in 2020, reflecting China's commitment to prioritize the well-being of its population and improve access to quality healthcare services.

However, the high costs associated with their acquisition and maintenance are restraining the growth of the market. On the contrary, the introduction of non-invasive sampling techniques and improved sensor technology create ample growth opportunities for the market.

Segment Overview
The global blood gas and electrolyte analyzer market is segmented on the basis of product, modality, medical condition, end user, and region.
 Based on product, the market is classified into blood gas analyzers, electrolyte analyzers, and combined analyzers.
 Based on modality, the market is bifurcated into portable and benchtop.
 Based on medical condition, the market is categorized into cardiovascular disorder, kidney dysfunction, respiratory disorders, diabetes, sepsis, and others.
 Based on end user, the market is divided into hospitals, ambulatory surgical centers, and diagnostic centers.
 Based on region, the market is segmented into North America, Europe, Asia-Pacific, and rest of the world (RoW).

Regional Analysis
The North America market is projected to hold the dominant share by 2030
North America dominates the global blood gas and electrolyte analyzer market, due to the growing prevalence of age-related health conditions and chronic diseases such as cardiovascular diseases, respiratory disorders, and kidney dysfunction among the older population. According to the report from Statistics Canada in 2022, the geriatric population in Canada is experiencing substantial growth. It is projected that the population aged above 85 will reach 2.5 million in Canada by 2045. This indicates a significant increase in the older adult population within the country, which, in turn, boosts the market growth.

Moreover, the surging prevalence of chronic diseases such as diabetes and strokes in the country drives the growth of the blood gas and electrolyte analyzer market. According to the recent Diabetes Atlas 2021 report published by the International Diabetes Federation, approximately 17% of Mexico's population is affected by either type 1 or type 2 diabetes, highlighting the significant prevalence of diabetes in the country. This alarming data underscores the need for advanced diagnostic tools, including blood gas and electrolyte analyzer, to accurately assess and monitor patients with chronic diseases.

Moreover, the presence of key market players, such as Nova Biomedical Corporation, Abbott Laboratories, and OPTI Medical Systems, Inc., and others, drives the growth of the blood gas and electrolyte analyzer market in this region. For instance, in June 2021, Nova Biomedical launched an enhanced Stat Profile Prime Plus blood gas analyzer by adding the capability to calculate and report mean corpuscular hemoglobin concentration (MCHC). The Prime Plus analyzer offers a comprehensive test menu of 24 critical care whole blood tests, including blood gases, electrolytes, metabolites, and CO-oximetry. It enables clinicians to rapidly evaluate multiple factors in just one minute using a small blood sample.

Key Market Players
Some of the key players in the blood gas and electrolyte analyzer market include:
• Abbott Laboratories
• Siemens Healthineers
• Radiometer Medical
• Roche Diagnostics
• Nova Biomedical Corporation
• Erba Mannheim
• Techno Medica
• Horiba Medical
• Edan Instruments
• OPTI Medical Systems
• Medica Corporation
• Werfen
• i-SENS
• Senso Care
• Perlong Medical Equipment Co., Ltd.

Recent Developments
December 2022
Abbott Laboratories invested USD 479.55 million to expand its business for manufacturing medical devices such as test kits and screening devices in Ireland. This will bring opportunities for the blood gas and electrolyte analyzer market.

July 2022
Radiometer partnered with Technicon to develop a robotic solution for blood testing. Both companies will combine their expertise in medical diagnostics and laboratory automation. The collaboration aims to streamline workflow, minimize errors, and improve turnaround time for test results. By integrating Radiometer's analyzers with Technicon's automation technology, the partnership seeks to revolutionize blood testing processes and enhance patient care in laboratories.

July 2022
Edan Instruments, Inc. unveiled its advanced next-generation arterial blood gas (ABG) solutions at the Annual Meeting and Clinical Lab Expo (AACC) 2022 event. These cutting-edge ABG solutions offer enhanced capabilities for clinical settings, allowing precise analysis of blood gas parameters.

July 2022
OPTI Medical Systems, Inc. unveiled its next generation of blood gas and electrolyte analyzers at the Annual Meeting and Clinical Lab Expo (AACC) 2022 event in the U.S. These advanced analyzers offer enhanced features and capabilities, providing healthcare professionals with rapid and accurate analysis of blood gases and electrolytes.

February 2020
Erba Mannheim launched a new electrolyte analyzer with maintenance-free electrodes, offering convenience and efficiency in blood gas and electrolyte testing. The launch of this advanced analyzer showcases Erba Mannheim's commitment to delivering cutting-edge solutions to the blood gas and electrolyte analyzer market.

KEY BENEFITS
• The blood gas and electrolyte analyzer market report provide a quantitative analysis of the current market and estimations from 2023 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a detailed analysis of the blood gas and electrolyte analyzer market trends, including the current and future trends to depict prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the blood gas and electrolyte analyzer market is provided in the report.
• The competitive analysis of the players along with their market share in the blood gas and electrolyte analyzer market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the roles of stakeholders.