Blood Gas and Electrolyte Analyzers Market Size By Modality (Bench Top, Portable), By Product (Blood Gas Analyzers, Electrolyte Analyzers, Combined Analyzers, Consumables), By End-use (Central Laboratories, Point-of-care, Diagnostic Centers, Hospitals), C

Blood Gas and Electrolyte Analyzers Market Size By Modality (Bench Top, Portable), By Product (Blood Gas Analyzers, Electrolyte Analyzers, Combined Analyzers, Consumables), By End-use (Central Laboratories, Point-of-care, Diagnostic Centers, Hospitals), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022- 2028

The blood gas and electrolyte analyzers market is estimated to grow significantly by 2028 due to rising prevalence of chronic diseases worldwide.

Studies have found point-of-care blood gas analyzers to be more reliable in providing accurate values within a shorter turnaround time. Increasing bedside testing for blood gases and electrolytes in hospitals to reduce treatment time for patients in intensive care and emergency departments has augmented industry uptake over the past few years.

Notably, industry participants have been launching innovative products to cater to the expanding diagnostics market worldwide, thereby strengthening the overall business outlook. For instance, in September 2021, Sensa Core Medical Instrumentation Pvt. Ltd., a leading developer and manufacturer of analyzers, launched its novel flagship blood gas analyzer, dubbed the ST-200CC Blood Gas Analyzers - Ultra Smart. The ST-200 CC ultra-smart ABGEM blood gas analyzer is specifically designed to meet the requirements of high workload hospitals and laboratories while enhancing lab productivity and delivering sample reports at a low cost.

The blood gas and electrolyte analyzers market has been segmented based on end-use, modality, product, and region. In terms of modality, the market has further been categorized into portable and bench top. The portable sub-segment held a sizable market share of more than 64% in 2021 and is anticipated to expand at a robust pace through the review period. Portable blood gas and electrolyte analyzers offer ease of operation and rapid results of blood gas tests at the patient’s bedside, which is set to boost segmental adoption in the upcoming years.

From the product perspective, the blood gas and electrolyte analyzers market has been divided into consumables, blood gas analyzers, combined analyzers, and electrolyte analyzers. In 2021, the consumables sub-segment recorded a market value of around USD 874.6 million and is expected to observe solid growth over the assessment timeline. This growth is attributed to the increasing emphasis of market players on providing innovative consumables.

With respect to end-use, the market has been classified into hospitals, point-of-care, central laboratories, diagnostic centers, and others. The blood gas and electrolyte analyzers market from the point-of-care sub-segment is speculated to progress at a CAGR of approximately 5.4% over the forecast period owing to mounting demand for speedy diagnostics with minimum errors. Moreover, widespread adoption of point-of-care systems is likely to fuel segmental growth over 2022-2028.

On the regional front, the Asia Pacific blood gas and electrolyte analyzers market held over 22.9% market share in 2021 and is projected to showcase substantial development over the study timeline. Increasing disposable income of consumers and growing awareness regarding the availability of advanced equipment in APAC are speculated to drive regional market expansion over the forthcoming years.