Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Laboratory analyzers are standalone instruments used to measure electrolytes from serum. Benchtop analyzers use individual biosensor technology. The operational cost for benchtop analyzers is lower compared to portable analyzers.
EME blood gas and electrolyte analyzers market is estimated to account for US$ 139.4 Mn in terms of value in 2020 and is expected to reach US$ 195.7 Mn in terms of value by the end of 2027.
EME Blood Gas and Electrolyte Analyzers Market: Drivers
Increasing prevalence of chronic disorders is expected to propel growth of EME blood gas and electrolyte analyzers market over the forecast period. For instance, according to the World Health Organization, Saudi Arabia recorded 24,485 new cases of cancer and 10,518 deaths due to the disease in 2018.
Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the World Health Organization, The geriatric population in Europe is expected to increase from 894 million in 2019 to 910 million in 2020. The number of people aged 85 years and older is projected to rise from 14 million to 19 million by 2020 and to 40 million by 2050.
Laboratory analyzers held dominant position in EME blood gas and electrolyte analyzers market in 2019, accounting for 38.1% share in terms of value, followed by benchtop analyzers and portable analyzers, respectively.
Figure 1. EME Blood Gas and Electrolyte Analyzers Market Share (%), by Value, by Modality, 2019
EME Blood Gas and Electrolyte Analyzers Market: Restraints
Lack of trained personnel in remote areas to operate blood gas and electrolyte analyzers is a factor hampering growth of the market.
Moreover, complex functioning and understanding of data for these analyzers is also expected to limit the market growth.
EME Blood Gas and Electrolyte Analyzers Market Report Coverage
||Market Size in 2019:
||US$ 133.2 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 195.7 Mn
- Europe: Germany, U.K., Spain, France, Italy, Nordics, Denmark, Finland, Iceland, Norway, Sweden, Rest of Europe
- Middle East: Saudi Arabia, UAE, Turkey, GCC Countries, Israel, Rest of Middle East
- By Product: Blood Gas Analyzers, Electrolyte Analyzers, Combination Analyzers, Consumables.
- By Modality: Laboratory Analyzers, Benchtop Analyzers, Portable Analyzers.
- By End User: Hospitals, Diagnostic Centres, Ambulatory Surgical Centres, Clinics.
Abbott Laboratories, Medica Corporation, Nova Biomedical, Radiometer Medical ApS, F. Hoffmann-La Roche Ltd., Siemens Healthcare, Alere Inc., EKF Diagnostics, ERBA Diagnostics Mannheim GmbH, and Instrumentation Laboratories (Werfen)
- High prevalence of uveitis
- Number of treatment options
|Restraints & Challenges:
- Limited studies on efficacy comparison of treating agents
- Challenging manufacturing process
EME Blood Gas and Electrolyte Analyzers Market: Opportunities
Emergence of Covid-19 is expected to offer lucrative growth opportunities for players in EME blood gas and electrolyte analyzers market. For instance, in the U.K, from Jan 31 to 4:44pm CEST, 24 June 2020, there have been 306,214 confirmed cases of COVID-19 with 42,927 deaths, as reported to the World Health Organization.
Moreover, upgrading of devices is also expected to aid in growth of the market. For instance, in September 2019, Radiometer Ltd. demonstrated its range of point of care solutions at the Institute of Biomedical Science (IBMS) Congress 2019, held in the U.K., with new features such as ABL90 FLEX PLUS blood gas analyzer with creatinine and urea and AQT90 FLEX immunoassay analyzer including sepsis biomarkers.
EME blood gas and electrolyte analyzers market was valued at US$ 133.2 Mn in 2019 and is forecast to reach a value of US$ 195.7 Mn by 2027 at a CAGR of 5.0% between 2020 and 2027.
Figure 2. EME Blood Gas and Electrolyte Analyzers Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027
Market Trends/Key Takeaways
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in April 2020, Nova Biomedical secured clearance from the U.S. Food and Drug Administration for its Stat Profile Prime Plus critical care blood gas analyzer for point-of-care (POC) use.
Blood gas and electrolyte analyzers are vulnerable to cyber-attacks that enable attackers to compromise the confidentiality, integrity, and availability of the devices. For instance, in June 2018, Siemens Healthineers warned about two cybersecurity vulnerabilities affecting its RAPID blood-gas analyzers.
- The upcoming In-Vitro Diagnostic (IVD) Device Regulation is suggestively different to the current IVD Directive, comprising changed classification rules and necessities for conformity assessment. The proposed Regulation introduces a new risk-rule classification system based on the Global Harmonization Task Force (GHTF) classification rules.
- This alteration to the classification system will have an effect on all manufacturers of IVDs. The majority of IVDs are currently self-certified, but once the Regulation comes into effect, most will need the services of acquainted body to classify their devices.
- In the new classification system, IVD devices will be divided into four Classes of risk: A (lowest risk), B, C and D (highest risk). By using the seven classification rules, devices will be divided into one of the four classes that will dictate notified body involvement
- The new Regulation will become applicable five years after its entry into force, to take into account the significant changes to the classification system for IVDs and to the conformity assessment procedures.
EME Blood Gas and Electrolyte Analyzers Market: Competitive Landscape
Major players operating in EME blood gas and electrolyte analyzers market include, Abbott Laboratories, Medica Corporation, Nova Biomedical, Radiometer Medical ApS, F. Hoffmann-La Roche Ltd., Siemens Healthcare, Alere Inc., EKF Diagnostics, ERBA Diagnostics Mannheim GmbH, and Instrumentation Laboratories (Werfen).
EME Blood Gas and Electrolyte Analyzers Market: Key Developments
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in April 2020, Nova Biomedical launched the Stat EMS Basic blood testing system for ambulance and emergency care in CE mark countries.
Major players in the market are also focused on adopting partnership strategies to enhance their market share. For instance, in April 2020, Accelerate Diagnostics, Inc. partnered with BioCheck, Inc. for the distribution of the BioCheck MS-FAST, a fully-automated chemiluminescence immunoassay analyzer, along with BioCheck's SARS-CoV-2 tests for the detection of IgG and IgM antibodies, in North America, Europe and the Middle East.