Blood Gas Analyzers Market – Insights
Blood gas analysis is performed for critically ill patient suffering from a respiratory or metabolic disorder. In blood gas analysis includes measurement of the amount of oxygen, carbon dioxide, and the acidity of pH in the blood as well as concentrations of other parameters such ascreatinine, electrolytes, glucose, hemoglobin, and lactate. Blood gas analyzers use electrodes to determine pH, partial pressure of carbon dioxide, and amount of oxygen in the blood. Imbalances in oxygen, carbon dioxide, and pH levels in blood can indicate the presence of certain medical conditions such as heart failure, hemorrhage, kidney failure, chemical poisoning, uncontrolled diabetes, or drug overdose.
The global blood gas analyzers market size was valued at US$ 594.6 million in 2017 and is expected to witness a CAGR of 5.5% over the forecast period (2018 – 2026).
Global Blood Gas Analyzers Market Revenue (US$ Mn) Analysis, By Application 2017
Source: Coherent Market Insights Analysis (2019)
Increasing demand for point of care testing is expected to drive the blood gas analyzers market revenue
Blood gas analyzers are used for patients suffering from certain medical conditions, including asthma and Chronic Obstructive Pulmonary Disease (COPD). Emergency and intensive care departments also use blood gas analyzers as crucial part for assessment of patient’s clinical status.
Increasing geriatric population at high risk of various chronic diseases, which require frequent testing of blood gas and Point-of-Care (PoC) diagnostic evaluation is expected to drive growth of the global blood gas analyzer market. According to the U.S. Census Bureau, 2015, population of age 65 years and above is expected to increase over 60% during 2015 – 2030. Moreover, increasing number of patients being treated in ICUs and emergency departments is also expected to fuel the market growth. According to the WHO, in 2015, around three million deaths were caused by chronic diseases, which accounted for 5% of all the deaths worldwide. This in turn led to significant increase in emergency cases demanding for blood gas analyzers.
PoC technology is effective and reliable in emergency department settings and offers improved patient care. According to a study published by National center for Biotechnology Information (NCBI) in 2014, PoC blood gas testing leads to reduced Therapeutic Turnaround Time (TTAT) in comparison to central laboratory testing, resulting in improved clinical outcomes. It also plays a crucial role in ICU settings as rapid and frequent arterial blood gas monitoring is required for assessment of pulmonary functions with subsequent adjustments in ventilator parameters.
Blood Gas Analyzers Market Restraints
High probability of infections through use of blood gas analyzers that are affected with patient acquired infections such as blood-borne pathogens during testing procedures is expected to hinder growth of the market. Blood gas analyzers can be difficult to use and therefore, require trained laboratory personnel. Moreover, collection of arterial blood is more difficult than venous or capillary blood sample. It is more painful for the patient and can be potentially dangerous, in case the correct procedure is not followed. All these factors are expected to negatively impact adoption of blood gas analyzers during the forecast period.
Blood Gas Analyzers Market - Regional Insights
On the basis of region, the global blood gas analyzers market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America blood gas analyzers market is expected to generate significant revenue share during the forecast period, owing to increasing prevalence of lifestyle-induced diseases and emergency department visits. According to the Centers of Disease Control and Prevention (CDC) report in 2017, around 1.7 million emergency department visits with chronic and unspecified bronchitis were recorded in the U.S.
Asia Pacific blood gas analyzers market is expected witness growth at highest CAGR, owing to increasing patient population base in the region. For instance, in 2016, according to the World Health Organization (WHO), over 90% of deaths were reported due to COPD in low and middle-income economies.
Global Blood Gas Analyzers Market Value (US$ Mn) & Y-o-Y Growth (%)
Source: Coherent Market Insights Analysis (2019)
Blood Gas Analyzers Market - Competitive Landscape
Key players operating in the global blood gas analyzers market include, Abbott Laboratories, Alere, Inc., Bayer AG, Dalko Diagnostics, GE Healthcare, Instrumentation Laboratory, Nova Biomedical, Radiometer, Roche Diagnostics, Siemens Healthcare, and Sphere Medical.
Blood gas analyzer is a standard clinical diagnostic test machine used to measures a patient’s blood gases including oxygen and carbon dioxide and pH level. Arterial blood is the sample type required for correct assessment of gas exchange and function of lungs, specifically oxygenation status. Arterial blood pH is included in these measurements as dissolved carbon dioxide balances the acidity or alkalinity in the respiratory system.
Increasing number of patients being treated in ICUs, NICUs, and emergency departments is propelling demand for blood gas analyzers. According to a NCBI report of 2017, in England, emergency services demand has increased by 125%, from around 4 million calls in 1994 and 1995 to 9 million ambulance calls in 2014 and 2015. Moreover, increasing number of patients suffering from chronic diseases such as cancer, cardiovascular disease, and lung disease also require blood gas testing. According to American Heart Association 2016 report, cardiovascular diseases are the leading cause of death worldwide, accounting for around 17.3 million deaths annually and is expected to reach over 23.6 million by 2030.
Moreover, increasing demand for point of care (PoC) testing in emergency department due to its potential benefits is fuelling demand for blood gas analyzers market. For instance, according to the National Center for Biotechnology Information 2014 study, in patient with severe shock who does not respond to pulse oximetry and capnometry, miscalculate of arterial pCO2 in severe cardiovascular insufficiency or during cardiopulmonary resuscitation (CPR) can occur. PoC testing devices with blood gas analysis are essentially required in these situations to optimize oxygenation and ventilation. However, blood gas analysis is sensitive to risks of errors caused by improper sampling, transport, and storage conditions. Therefore, complexity is involved in the interpretation of data.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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