Point of Care Blood Gas and Electrolyte Devices: Increasing Prevalence of Chronic Disease and Cancer to Encourage Market Growth at a CAGR of 7.8% During Forecasted Period 2017-2023

Market Research Future published a cooked research report on the global point of care blood gas and electrolyte devices market.

Point of care blood gas and electrolyte analyzers is the new technology, which helps in reducing therapeutic turnaround time, enhancing patient satisfaction, accuracy, and help to improve hospital operations. Rising prevalence of chronic diseases and cancer across the globe, increasing the treatment of NICUs, ICUs, Cardiovascular Operating Room (CVOR), and emergency department, which drives the global point of care blood gas and electrolyte devices market growth. In 2017, due to changes in the regulatory policies of the U.S., R&D investment is affected to some extent. In 2016, R&D spending of the US was 527.5 billion, which grew by 1.6% in 2017. Currently, the major shares of the global market are dominated by few leading players, and they can fluctuate the costs of the products. In developing regions such as Asia Pacific the suppliers are trying to provide their products at affordable price.

The global point of care blood gas and electrolyte devices market is expected to grow at a CAGR of 7.8% during the forecast period 2017-2023.

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Segmentation

The global point of care blood gas and electrolyte gas devices market has been segmented on the basis of types and end users.

On the basis of the types, the market is segmented into consumables and Instruments. The instrument type is sub-segmented into benchtop and portable devices. The consumable devices are further segmented into reagents, cartridges, and others.

On the basis of the end users, the market is segmented into hospitals & clinics, home care, research institutions, and others.

Regional Analysis

The Americas dominate the global market owing to a huge population with chronic diseases such as diabetes, kidney, and liver disease, increasing government support for research & development, and high health care expenditure. According to the WHO, in 2014, 9.7% of the total America population is having diabetes. Thus, increasing prevalence of diabetes has boosted the market growth. Additionally, changing lifestyle and the presence of major players in the market have fuelled the growth of the market.

Europe is the second largest point of care devices market across the globe, which is followed by Asia Pacific. Asia Pacific is the fastest growing market and majorly driven by India and China owing to a huge number patients with chronic diseases and rapidly growing economy. According to the WHO, 60% of the global diabetic population lives in Asia Pacific region. The healthcare expenditure of Asia Pacific has increased over the last few years, which has contributed to the growth of the market.

The Middle East and Africa region account for the least share of the global market. Whereas, Africa holds the least share of the global market due to limited availability of medical facilities and poor economic condition of the region.

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Key Players

Some of the major players in this market: Siemens, Abbott, F. Hoffman-La Roche Ltd., Radiometer, Nova medical, Edan Instruments Inc., and Instrumentation Laboratory

According to the Centers for Disease Control and Prevention, in 2015, the number of adults with diagnosed chronic bronchitis and emphysema were 9.3 million and 3.5 million respectively. Additionally, according to WHO in 2016, over 1.9 billion adults aged 18 years and older were obese, which was approximately 650 million. Overall 13% of world’s adult population (11% of men and 15% of women) were obese. These diseases are the main cause of the immense growth of treatment in NICUs, ICUs, Cardiovascular Operating Room (CVOR), and emergency department. Point of care blood gas developers is now focusing on developing automated and user-friendly devices, which may lead the market of this product in the coming future. Healthcare expenditure across the world is rapidly increasing. From the last decade, healthcare expenditure in regions like the Americas and Europe has been growing rapidly. According to the Centers for Medicare & Medicaid Services, in 2015, the U.S. healthcare spending was increased by 5.8% and reached USD 3.2 trillion.

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