Blood Gas Analyzer/Blood Gas and Electrolyte Analyzer Market Worth 636 Million USD by 2021
PUNE, India, July 13, 2016 /PRNewswire/ --
According to a new market research report "Blood Gas Analyzer/Blood Gas and Electrolyte Analyzer Market by Product/Brand (GEM 4000, GEM 3000, i-STAT, ABL900, ABL90, cobas b 221, RAPIDLab), Player/Company (Radiometer, Instrumentation Laboratory, Siemens, Abbott, Alere) - Global Forecasts to 2021" published by MarketsandMarkets, The global market is expected to reach USD 636.0 Million by 2021, at a CAGR of 4.6% during the forecast period of 2016 to 2021.
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Browse 38 market data Tables with 14 Figures spread through 139 Pages and in-depth TOC on "Blood Gas Analyzer/Blood Gas and Electrolyte Analyzer Market"
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The growth in this market is majorly attributed to the rising demand for automated and point-of-care blood gas analyzer devices. These analyzers offer rapid analysis and are easy to use, portable, and offer short turnaround times, which make them valuable tools for managing oxygenation and ventilation of patients in ICUs and emergency departments.
The other factors driving the growth of this market include rising geriatric population and the subsequent increase in the prevalence of chronic diseases, increasing adoption of technologically advanced biosensors and data analysis software, growing demand for technology integrated combined systems, and miniaturization of POC blood gas analyzers.
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The Blood Gas Analyzers Market is segmented on the basis of major product brands (i-STAT, epoc, GEM 3000, GEM 3500, GEM 4000, ABL800, ABL80, ABL90, cobas b 221, cobas b 121, cobas b 123, RAPID Series) in four major regional segments, namely, North America, Europe, APAC, and Rest of the World. This report analyzes the market from both value and volume perspectives. GEM 3000 is expected to account for the largest share of the global Blood Gas Analyzers Market in 2016. This is mainly because GEM 3000 delivers real-time system diagnostics, requires low labor-intensive system calibration, and eliminates lengthy equipment training and possible human errors. On the other hand, epoc (Alere) is expected to be the fastest-growing brand in the coming years.
North America is expected to account for the largest market share in 2016, which is primarily attributed to the growing prevalence of lifestyle diseases, increasing number of product approvals, and rising government initiatives in this region. However, the APAC Blood Gas Analyzers Market is projected to witness a higher growth during the forecast period due to the growing initiatives by market players, increasing patient population base, and rising number of partnerships and joint ventures.
Leading players in this market are focusing on the launch of new and improved products as their key growth strategy. The major players in the global Blood Gas Analyzers Market are Abbott Laboratories (U.S.), Alere, Inc. (U.S.), Instrumentation Laboratory (U.S.), Radiometer (Denmark), Roche Diagnostics (Switzerland), and Siemens Healthcare (Germany). Radiometer is expected to command the largest share in this market with the launch of its flagship products ABL800 and ABL90.
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