Blood Gas and Electrolyte Analyzer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)

Blood Gas & Electrolyte Analyzer Market Analysis

The Global Blood Gas And Electrolyte Analyzer Market size is estimated at USD 2.51 billion in 2024, and is expected to reach USD 3.30 billion by 2029, growing at a CAGR of 5.63% during the forecast period (2024-2029).

During the pandemic, several healthcare services were postponed, and non-emergency hospitalization was canceled, adversely impacting the market initially. However, a rise in the hospitalization rate of people suffering from COVID-19 increased the demand for blood gas and electrolyte analyzers in hospitals, clinics, and point-of-care centers and positively influenced the industry's growth. For instance, as per the Siemens Healthineers 2022 annual report, the point-of-care sub-segment, which includes blood gas analyzers under the diagnostic segment, recorded ongoing recovery in patient volumes as markets continued to return to normalized levels following the COVID-19 lockdowns. Thus, the market initially had a slight adverse impact and later attained growth, expected to continue over the coming years.

The growing number of patients in emergency units of hospitals, rapid urbanization, changing lifestyles, chronic disorders, and technological advancements in blood gas analyzers are the major factors driving the blood gas and electrolyte analyzer market over the forecast period. These analyzers offer various advantages for emergency care patients and are ideal in the point-of-care testing segment. Hence, the high burden of emergency care patients increases the need for blood gas and electrolyte analyzers. For instance, per the Australian Bureau of Statistics 2022, there were 8.79 million presentations to emergency departments in public hospitals in Australia, a rate of 339 presentations per 1,000 population in 2021-2022. In medical diagnosis, blood gas and electrolyte analyzers determine a patient's disease and help prevent these high burdens of critical and emergency conditions, contributing to market growth.

Furthermore, introducing new products in the market with advanced models increases the demand for these products, which is expected to have significant growth in the market. For instance, in September 2021, Sensa Core Medical Instrumentation launched its flagship Blood Gas Analyzer ST-200CC Blood Gas Analyzers Ultra Smart for hospitals, clinics, and diagnostics centers through its network in India. It is the highly advanced blood gas model of the sensor, and it is a completely automated, microprocessor-controlled electrolyte system that uses current direct measurement with ION selective electrode (ISE), Impedance (Hct), and Amperometry (pO2) technology to make arterial blood gas analysis and electrolyte measurements.

Thus, the factors above are witnessed to drive the demand for the blood gas electrolyte analyzer. However, the major restraining factors in the market include the cost of the analyzer, reimbursement issues, and complicated regulations.

Blood Gas & Electrolyte Analyzer Market Trends

Portable Under Modality Segment is Expected to Witness Growth Over the Forecast Period

Blood Gas & Electrolyte Analyzer Industry Segmentation

As per the scope of the report, blood gas and electrolyte analyzers are useful medical devices for detecting metabolic imbalances and measuring renal and cardiac functions. It is traditionally performed in the clinical chemistry laboratory, but it is now becoming popular and common in point-of-care testing. The Blood Gas and Electrolyte Analyzer Market is segmented by Modality (Benchtop and Portable), Product (Blood Gas Analyzer, Electrolyte Analyzer, and Combined Analyzer), End-User (Centralized Laboratories, Point of Care, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the above segments.