Market Trends of Global Blood Gas and Electrolyte Analyzer Industry
This section covers the major market trends shaping the Blood Gas & Electrolyte Analyzer Market according to our research experts:
Portable Blood gas and Electrolyte Analyzers Segment is Expected to Witness Growth Over the Forecast Period
The portable devices are easy to use, handle, and with minimum maintenance requirements which helps in their better adoption rate. There are several companies that are investing in the development and marketing of these products. Though there is an edge for portable devices over conventional devices, concerns and challenges arise when there are being operated by non-laboratory staff such as nurses and physicians, which sometimes restricts the extent of results being obtained.
With that, in the emergency and critical care settings, it is important for the doctors/physicians and laboratorians to build upon the synergistic efforts toward using portable devices in Point of Care Testing (POCT) and conventional laboratory settings. With that, the positives and benefits of using such devices are more, which drives the adoption rate of these products in the market, over the forecast period.
The increasing product launches and collaborations are further driving the growth of the segment. For instance, In January 2021, ENVEA presents its new portable multi-gas monitor MIR 9000P designed to meet the specific needs of regulatory and periodic MIR 9000P is compliant with international directives and standards such as United States Environmental Protection Agency and EN 15267-4, the latest European standards for Portable Automatic Measurement Systems. It guarantees high accuracy and extended measuring ranges for 8 parameters (NOx, SO2, CO, CO2, CH4, N2O, O2 and residual H2O). Similarly, Boditech Med (Gang-won-do, Korea) has launched its immunoassay analyzer AFIAS-10 with blood collection tube, including an all-in-one cartridge system, at MEDICA 2021. The AFIAS-10, is a unique integrated Sample-to-Answer system that can execute 10 parallel tests for each different parameter. AFIAS-10 provides a quick and simplified operation and reliable test result with automatically collecting a sample from a blood tube. Boditech showcased its range of parameters that can be executed on the AFIAS-10 covering the areas of cardiac, cancer, diabetes, hormones, infections and autoimmune, among others. Thus, all these launches are driving the growth of the market.
North America is is Expected to Dominate the Hair Removal Devices Market
North America is expected to dominate this market in terms of revenue generation, over the forecast period. The large presence of domestic and international medical device companies from both the developed and emerging markets boost the demand and growth of analyzes in the country. The region is expected to witness high demand for products such as arterial blood gas machines, electrolyte analyzer machines, blood oxygen analyzers, etc.
High healthcare expenditure and rapid adoption of advanced technologies are expected to provide highly rewarding opportunities for blood gas and electrolyte analyzer companies in this region. The better network between the multispecialty hospitals with the insurance companies and medical device companies drives the importance of this market in the United States. For instance, in March 2020, Siemens Healthineers RAPIDPoint 500e Blood Gas Analyzer, used in critical care settings received the United States Food and Drug Administration approval.
Furthermore, medical tourism also attracts many patients from many countries to get better healthcare facilities in the region. The growing preference for point-of-care testing by both companies and hospitals fuels the growth of the studied market in the region. For instance, the American Association for Clinical Chemistry funded USD 5,000 for point-of-care testing research. This research grant is expected to help in the research and technological advancement particularly intended for clinical laboratorians to explore new ideas in areas where funds are normally not available.
Such initiatives by government authorities are expected to foster the regional market trends.
