Press release
Blood Gas and Electrolyte Analyzers Market is Anticipated to Achieve US$ 7.82 billion by 2034
Blood Gas and Electrolyte Analyzers Market
Blood gas and electrolyte analyzers are essential in the diagnosis and treatment of various diseases, and their demand is expected to rise as the prevalence of chronic diseases increases. The growing number of patients in emergency care and intensive care units will significantly contribute to market growth. Additionally, the aging population in many countries is anticipated to drive demand for blood gas analyzers through 2034.
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Key Takeaways
The global blood gas and electrolyte analyzer market is projected to reach a valuation of USD 5.7 billion by the end of 2030.
The blood gas analyzers category leads the market, holding around 45% of the total market share.
North America remains a lucrative region, contributing USD 800 million in revenue.
"Significant technological advancements and the enhanced convenience of portable blood gas and electrolyte analyzers are expected to be the main drivers of market growth during the assessment period." says a Fact.MR analyst.
Drivers
Technological advancements that enhance accuracy and efficiency are key factors driving market growth.
Major companies like Roche Diagnostics, Abbott Laboratories, and Siemens Healthcare play a significant role in the market.
An increasing geriatric population and growing awareness of blood gas and electrolyte analyzers are expected to boost market growth.
Constraints
The high cost of advanced analyzers remains a significant barrier to growth.
A stringent regulatory environment may hinder the expansion of the blood gas and electrolyte analyzers market.
Anticipated Market Impact by COVID-19 Outbreak
The blood gas and electrolyte analyzer market has faced significant challenges due to the COVID-19 pandemic. The market has experienced a decline primarily due to disruptions in supply chains and decreased product demand. Additionally, government lockdown measures implemented in various regions have negatively affected market growth.
Country-wise Insights
According to a recent analysis by Fact.MR, North America is expected to capture 32.4% of the global market share by 2034. Manufacturers of blood gas and electrolyte analyzers are expanding their presence in various regions, including Southeast Asia, Central and South America, and Australia. This strategy enables them to effectively meet the growing global demand while reducing reliance on a single supply source.
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Competitive Landscape
Market growth is driven by several factors, including increased awareness of advanced diagnostic procedures, technological advancements, and global economic conditions. Key players in the blood gas and electrolyte analyzer market include Siemens Healthcare, Werfen, Erba Mannheim, Sensa Core, Roche Diagnostics, Nova Biomedical, Medica Corporation, and Alere Inc.
In 2022, Sysmex America Inc., a leading player in diagnostic solutions, achieved a significant milestone when the U.S. FDA granted clearance for a new feature on its N-10 Automated Hematology Analyzer, adding a Blood Bank mode. This marked the first time an automated analyzer received approval for counting residual WBCs.
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