Blood Gas and Electrolyte Analyzers Market drivers of growth analyzed in a new research report

Blood Gas and Electrolyte Analyzers market revenue is anticipated to experience a high growth over the coming years, driven by rise in geriatric population base resulting in the high occurrence of chronic ailments. As per the WHO estimates, the growth rate of the aging population (65 and above) across the globe is projected to be as high as 16% by 2050. Growing requirements for PoC diagnostic evaluations will spur blood gas and electrolyte analyzers industry over the coming years. According to Global Market Insights, Inc., “Blood Gas and Electrolyte Analyzers market size to surpass USD 700 million by 2023.” High demand for PoC analyzers to enhance quality of patient care and cost reduction is expected to favorably influence the industry.

Blood Gas and Electrolyte analyzers find extensive applications in point-of-care (PoC) diagnostics and central labs. Blood Gas and Electrolyte analyzers market value in the central labs segment estimated over USD 300 million in 2015, is expected to observe massive growth over the next few years, driven by rise in patient population suffering from chronic ailments along with high requirements for multi-parameter & integrated systems. Rapidly expanding Point-of-care diagnostics segment will propel the industry growth, owing to its ability to reduce the turnaround period and clinical decision time.

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Portable and benchtop are the major blood gas and electrolyte analyzers. Portable blood gas and electrolyte analyzers market share worth USD 300 million in 2015, is estimated to grow considerably over the coming years. Enhanced use of PoC analyzers, owing to its ability to deliver quick & accurate results, is expected to drive the growth.

Below are the regional highlights influencing blood gas and electrolyte analyzers market over 2016-2024

• Rising frequency of chronic diseases such as cancer, high blood pressure, and diabetes along with effective healthcare services will drive Asia Pacific blood gas and electrolyte analyzers industry size over the coming six years. India, China, and South Korea are predicted to drive the regional growth.

• LATAM blood gas and electrolyte analyzers industry size is expected to expand considerably over the next few years, driven by heavy presence of COPD and asthma patients coupled with availability of more advanced healthcare facilities. Brazil is estimated to contribute significantly towards the regional revenue.

• Europe blood gas and electrolyte analyzers market is estimated to witness an enormous surge in the near future, owing to increasing device penetration along with enhanced acceptance of modern technology. Germany is likely to be a key regional revenue contributor.

• MEA blood gas and electrolyte analyzers industry is expected to grow significantly over the period of 2016-2023. South Africa is expected to be a key revenue pocket of the region.

• North America blood gas and electrolyte analyzers market revenue will grow significantly over the coming six years, driven by growing acceptance of PoC diagnostics services. U.S. is estimated to drive the regional share.

Market players will try to expand their product portfolio and geographical presence by implementing key business growth strategies such as strategic collaborations and joint ventures. Key industry participants include Siemens Healthcare, Instrumentation Laboratory, Alere Medical Private Limited, Roche Diagnostics, and Cerner Corporation.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Arun Hegde
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Global Market Insights, Inc.
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This release was published on openPR.