Blood Gas & Electrolyte Analyzer Market Projected to Grow at a CAGR of 9% During 2020-2030: Fact.MR
Leading blood gas & electrolyte analyzer companies are focusing on expansion by diversifying their product lines by upgrading it with advanced technologies.
"Remarkable technological developments and an increased convenience aspect, for instance, portable blood gas & electrolyte analyzers, are poised to be the chief drivers for the market over the assessment period." says a Fact.MR analyst.
• The global market is anticipated to account for a market valuation of US$ 5.7 Bn by 2030 end.
• The blood gas analyzers category is the leading product type segment with a lion's share, holding around 45% of the overall market.
• North America remains lucrative in the global market constituting US$ 800 million, in terms of revenue.
• Increasing accuracy and efficiency through technological progressions in products are crucial aspects to influence market growth positively.
• Leading companies such as Roche Diagnostics, Abbott Laboratories, and Siemens Healthcare contributes majorly to the market.
• Increasing the geriatric population and growing awareness of blood gas & electrolyte analyzers to complement market growth.
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• High-cost associated with advanced analyzers continues to be an obstacle for growth.
• Stringent regulatory scenario might hamper blood gas & electrolyte analyzers' market expansion.
Anticipated Market Impact by COVID-19 Outbreak
The blood gas & electrolyte analyzer market has experienced a predominantly negative impact due to the COVID-19 outbreak. The outcome has been on a negative slope, mainly due to supply chains and low demand for the product. Further, the government's lockdown initiatives and implementation across several regions have adversely impacted market progress.
The global blood gas & electrolyte analyzer market is amalgamated in nature, with selected players dominating the overall market. Leading players in the global market are Alere, Inc., Abbott Point of Care Inc., Erba Mannheim, Nova Biomedical, Medica Corporation, Radiometer Medical Aps, Siemens Healthcare, and Roche Diagnostics. Players are following strategies such as acquisitions, brand mergers, and investments in research and development, consequently, crucially impelling the market competition.
More on the Report
The Fact.MR's market research report provides in-depth insights into the Blood Gas and Electrolyte Analyzer market. The market is scrutinized on the basis of type (blood gas analyzers, electrolyte analyzers, combines analyzers, and consumables)
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