Global Blood Gas and Electrolyte Analyzer Market Size

Blood Gas & Electrolyte Analyzer Market Analysis

The blood gas and electrolyte analyzer market is expected to register a CAGR of 5% over the forecast period (2022-2027).

COVID-19 pandemic positively impacted the blood gas and electrolyte analyzers market. During the pandemic, several surgeries were postponed, and non-emergency hospitalization was canceled which impacted the market moderately. For instance, In July 2020, National Syndromic Surveillance Program (NSSP) found that emergency department (ED) visits declined 42% during the early COVID-19 pandemic, from a mean of 2.1 million per week (March 31-April 27, 2019) to 1.2 million (March 29-April 25, 2020), with the steepest decreases in persons aged 14 years, females, and the Northeast. The proportion of infectious disease-related visits was four times higher during the early pandemic period. However, there was a rise witnessed in the hospitalization rate of people suffering from COVID-19. Surging cases of the COVID-19 pandemic have increased demand for blood gas and electrolyte analyzers in hospitals, clinics, and point-of-care centers will positively influence the industry growth.

The blood gas analyzers are utilised to measure blood gas, electrolyte, pH, and some metabolites in the whole blood specimen. Rapid urbanization, changing lifestyles, wrong eating habits, blood vessel hemorrhage, chronic disorders, and technological advancements in blood gas analyzer are the major factors driving the blood gas analyzer market for the period. These analyzers offer various advantages for critical care patients and are ideal in the point-of-care testing segment. For instance, in September 2021, According to the National Heart, Lung and Blood Institute Atherosclerotic Risk in Communities (ARIC) study and Cardiovascular Health Study (CHS) there are 1,260,000 new and recurrent coronary attacks per year- about 37% of people experience a coronary attack in a given year die from it. The use of these analyzers in medical diagnosis is used to determine a patient disease and help in preventing such critical conditions contributing to market growth.

A large number of basic and complicated parameters are now being carried out for patients suffering from life-threatening respiratory disturbances and acid-base imbalances. For example, the epic Blood Analysis System wireless solution for testing by Alere, Inc (Abbott Laboratories) which features smartcard technology offers 11 tests from a very small sample of blood (92 µL, about 1/10th of a CC, sample).

The aging population is more at risk of contracting infectious diseases and they require continuous monitoring of their vital signs while treatment to avoid any health complications. For instance, According to the World Population Ageing Highlight 2020 report published by the United Nations, the global geriatric population is increasing rapidly around the world and in 2020, about 727 million people of age 65 years or more were living across the world which was about 9.3% of the total global population and also, the same report projected that the population of people of age 65 years or more will be about 1.5 billion people by 2050 which will be about 16% of the global population. Similarly, According to the October 2021 update of the World Health Organization, the percentage of people of age more than 60 years in the global population will increase from 12% in 2015 to 22% by 2050, of which, about 80% of the older people in 2050 will be living in the low-and middle-income countries. This data shows a significant rise in the geriatric population and where the majority of the older population would be residing. Thus, the increasing incidence of blood cancers, diabetes, and other blood-related disorders in the aging population is also expected to drive demand for electrolyte machines, blood glucose analyzers, and other blood gas analyzer equipment through 2027.

Thus, the aforementioned factors are witnessed to drive the demand for the blood gas electrolyte analyzer. Some of the major restraining factors in the market include the cost of the analyzer, reimbursement issues, and complicated regulations.