Market Trends of Global Blood Gas And Electrolyte Analyzer Industry
Portable Under Modality Segment is Expected to Witness Growth Over the Forecast Period
The portable devices are easy to use and handle and have minimum maintenance requirements, which helps their adoption rate. Several companies are investing in the development and marketing of these products. In the emergency and critical care settings, the doctors/physicians and laboratorians must build upon the synergistic efforts toward using portable devices in point-of-care testing (POCT) and conventional laboratory settings. The benefits of using such portable devices drive the adoption rate of these products in the market over the forecast period. In addition, the increased funding for research and development on hematology is expected to significantly impact segment growth.
The comparative study results of normal blood gas analyzers with portable blood gas analyzers increase the demand for portable devices due to easy usage with the same efficiency. For instance, as per the study report published by Frontiers in Physiology in January 2021, compared to the reference blood gas analyzers, the portable device's blood gas analysis accuracy was sufficient for clinical use, which can also be used under challenging field conditions. Thus, the significant results of portable blood gas analyzers on standard analyzers increase the demand for portable devices, likely boosting the segment's growth over the forecast period.
Furthermore, the new expansion of manufacturing capabilities for portable blood gas analyzers is expected to have significant growth in the market. For instance, in June 2021, Siemens Healthineers planned expansion of its Ottawa, Ontario manufacturing facility that manufactures the epoc Blood Analysis System, a handheld, wireless solution. The expanded facility provides an additional 24,000 square feet to support new manufacturing lines to meet increased demand for the Point of Care healthcare business. Thus, the factors above, like comparative study results and new manufacturing expansion, increase the widespread usage of these devices, which is expected to have significant growth in the market over the forecast period.
North America is Expected to have Significant Share in the Market Over the Forecast Period
North America is expected to have a significant share in this market over the forecast period due to the large presence of domestic and international medical device companies from developed and emerging markets. The region is expected to witness high demand for products such as arterial blood gas machines, electrolyte machines, blood oxygen analyzers, etc.
High healthcare expenditure and rapid adoption of advanced technologies are expected to provide highly rewarding opportunities for this region's blood gas and electrolyte analyzer companies. The better network between the multispecialty hospitals with the insurance companies and medical device companies drives the importance of this market in the region. In addition, the market players are providing various blood gas analyzers to various institutions for training, which is expected to have widespread usage in the region. For instance, in November 2022, Siemens Healthineers generously donated their epoc Blood Gas Analysis System to the Lawrence S. Bloomberg Faculty of Nursing鈥檚 Simulation Lab to improve learning opportunities for students and remote nursing care.
Furthermore, the growing preference for point-of-care testing by companies and hospitals fuels the growth of the studied market in the region. For instance, the American Association for Clinical Chemistry funded USD 5,000 for point-of-care testing research in 2021. This research grant is expected to help in research and technological advancement, particularly intended for clinical laboratorians to explore new ideas in areas where funds are normally unavailable. Such initiatives by government authorities are expected to foster regional market trends.
