Blood Gas and Electrolyte Analyzer Market is Anticipated to Hit US$ 7.82 Billion by 2034: Fact.MR Report

Increased Cases of Cancer among Growing Aging Population Worldwide Driving Demand for Blood Gas and Electrolyte Analyzers: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, July 30, 2024 /EINPresswire.com/ -- This updated study by Fact.MR places the global blood gas and electrolyte analyzer market is estimated to reach US$ 4.7 billion in 2024 and projects it to advance at a CAGR of 5.2% through 2034.

With more people having to seek care in intensive care units, emergency departments, and operation rooms, there is growing demand for all-in-one systems in the healthcare sector. As diagnostic facilities consolidate and accreditation becomes a priority, patients are being able to access comprehensive diagnostic services.

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In recent years, the aging population has increased, besides the number of cancer cases across the world. This has been driving the need for blood gas and electrolyte analyzers.

According to a 2019 report by the United Nations, the number of people aged 65 and above worldwide is expected to increase from 9% in 2019 to 16% in 2050. Older age is a major risk factor for cancer.
Key Takeaways from Market Study

The global blood gas and electrolyte analyzer market is projected to expand at a CAGR of 5.2% through 2034. Global blood gas and electrolyte analyzer sales are estimated at US$ 4.7 billion in 2024.

Revenue from blood gas and electrolyte analyzer sales is forecasted to reach US$ 7.82 billion by 2034-end. The North American market is forecasted to expand at a 6.6% CAGR through 2034. Electrolyte analyzers are estimated to occupy 39.3% share of the market in 2024.

“Growth of the blood gas and electrolyte analyzer market is driven by the rising prevalence of chronic diseases, emergency care demand, and a growing aging population. Collaborations between players and governments are further supporting market expansion,” says a Fact.MR analyst.

Regional Insights

According to a recently released analysis by market research and competitive intelligence firm Fact.MR, North America is expected to account for 32.4% of the global market share by 2034. Manufacturers of electrolyte and blood gas analyzers have extended their global reach to include Australia, Southeast Asia, Central and South America, and South America. By doing this, they may stay independent of a single supply source and effectively meet the rising worldwide demand.

The United States now has a higher percentage of diabetics due to rising obesity rates brought on by unhealthy eating and lifestyle choices, which is predicted to fuel demand for blood gas analyzers in the years to come. Over the coming years, it is anticipated that both the elderly population and the pool of diabetic patients would grow. It is anticipated that this will present lucrative opportunities for national market participants.

Market Developments

Leading manufacturers of blood gas and electrolyte analyzers are Siemens Healthcare, Werfen, Erba Mannheim, Sensa Core, and Roche Diagnostics. Companies are collaborating with various well-known global manufacturers to boost their standing in the market and claim a leading share.

In 2021, Siemens Healthcare introduced the epoc Blood Analysis System. This is a portable wireless device that can perform a full blood gas analysis, a basic metabolic panel, and measure hematocrit and lactate levels using a single test card that is stable at room temperature. It can deliver results at the patient’s side in less than a minute.
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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the blood gas and electrolyte analyzer market for 2018 to 2023 and forecast market statistics for 2024 to 2034.

The study divulges essential insights into the market based on product type (electrolyte analyzers, combined analyzers, blood gas analyzers, consumables), modality (portable, benchtop, laboratory), and end user (point-of-care, diagnostic centers, clinical laboratories), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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