Blood Gas Analyzer Market to be Driven by Increasing Demand for Personalized Medicines, Growing Number of Retail Clinics and Rising use of Innovative Diagnostic Equipment

Radiant Insights, Inc.

SAN FRANCISCO, January 15, 2019 /PRNewswire/ --

Global blood gas analyzer market is expected to grow at a significant CAGR of 6.6% by 2023 as the scope and its applications are rising enormously across the globe. Blood gas analyzer (BGA) is a benchtop or handheld device that measures the concentration of hydrogen ions (pH), partial pressure of oxygen (pO2), and the partial pressure of carbon dioxide (pCO2). Also, can measure metabolites and electrolyte parameters from whole blood specimens. The factors that are playing a major role in the growth of blood gas analyzer market are rising demand for personalized medicines, growing number of retail clinics, rising use of innovative diagnostic equipment's, and developing whole genome technology. However, the presence of alternatives may restrain overall market growth in the years to come. Blood gas analyzer market is segmented based on product type, application, and region. Benchtop and portable are the product types of blood gas analyzer and is estimated to lead the overall market in the years to come. Portable analyzers sector may account for the significant market share of blood gas analyzer and is estimated to continue its dominance in the years to come. The reason could be rising use of point-of-care (POC) testing. The market may be categorized based on applications like academia, clinics, hospitals, and others that could be explored in blood gas analyzer in the forecast period.

Blood gas analyzer market is segmented geographically into Americas (North America, South America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa). Globally, North America may account for the substantial market share of blood gas analyzer and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be growing several R&D activities and development of new diagnostic procedures. The United States and Canada are the major consumers of blood gas analyzer in this region.

Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of blood gas analyzer in this region. The key players of blood gas analyzer market are Siemens Healthineers, Radiometer, Abbott Laboratories, Roche Diagnostics, Accurex Biomedical, Samsung Medison, Medica, Instrumentation Laboratory, and Nova Biomedical. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition. The report segments the market and forecasts its size, by volume and value, on the basis of application (hospital, academia, etc.), and by geography (North America, Europe, Asia-Pacific, MEA and South America). The report covers forecast and analysis for the Blood Gas Analyzer market on a global and regional level. The study provides historic data of 2013-2017 along with a forecast from 2018 to 2023 based on both output/volume and revenue. The study then describes the drivers and restraints for the Blood Gas Analyzer market along with the impact they have on the demand over the forecast period.