April 24, 2024
Blood Gas Analyzers Market

Blood Gas Analyzers Market Positioned for Sustainable Growth Riding on Precision Healthcare Trends

Blood gas analyzers are medical devices that measure the levels of oxygen, carbon dioxide, pH, electrolytes and other biochemical parameters in a blood sample. They enable precise evaluation of respiratory, metabolic and acid-base disorders which aid clinicians in accurate diagnosis and treatment. Point-of-care blood gas analyzers offer rapid test results outside the laboratory setting, supporting timely clinical decision making in critical care. Continuous technological advancements have enhanced the capabilities of modern blood gas analyzers through miniaturization, connectivity with various medical devices and ability to analyze smaller sample volumes. Growing prevalence of chronic respiratory diseases and rise in ICU admissions have considerably expanded the demand for blood gas testing.

The Global Blood Gas Analyzers Market is estimated to be valued at US$ 2.07 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Blood Gas Analyzers market are Richel Group, Argus Control Systems Ltd, Rough Brothers Inc., Certhon, Logiqs BV, Lumigrow Inc., Nexus Corporation.
The rising incidences of chronic pulmonary disorders such as asthma and COPD are anticipated to fuel the need for Blood Gas Analyzer Market Growth testing procedures globally. Furthermore, increasing medical expenditures in developing nations will augment market growth in the coming years.
The major market players are focusing on expanding their global presence through new product launches and strategic partnerships with large hospitals and diagnostic laboratories. For instance, in 2021, Radiometer launched the ABL9 point-of-care Blood Gas Analyzer  with connectivity capabilities and advanced quality control features.

Market Key Trends

One of the key trends gaining momentum in the blood gas analyzers market is the shift towards miniaturization and POC testing. The launch of smaller, handheld analyzers suitable for bedside testing is increasing patient access to critical care in emergency rooms and ICUs. The miniaturized devices provide timely clinical decisions while reducing laboratory turnaround times. Furthermore, integrated connectivity solutions allow datasharing between analyzers and healthcare IT networks, supporting remote monitoring of high-risk patients. This is expected to optimize resource utilization and clinical workflows.

Porter’s Analysis

Threat of new entrants: New players find it difficult to enter this market due to high costs involved in equipment and infrastructure development.
Bargaining power of buyers: Buyers have moderate bargaining power as there exist established players in the market with diversified product portfolios.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw material costs constitute only a fraction of total costs and there are substitute materials available.
Threat of new substitutes: Threat of substitutes is low as there is no direct substitute available for blood gas analyzers.
Competitive rivalry: Market comprises large multinational players with wide geographic presence resulting in high competition.

Geographical Regions

North America holds the largest share of the blood gas analyzers market owing to presence of advanced healthcare infrastructure and rising prevalence of chronic respiratory diseases.
Asia Pacific region is poised to witness fastest growth during the forecast period attributable to growing healthcare expenditure, rising medical tourism, and increasing incidence of respiratory disorders in densely populated countries like India and China.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research.
2. We have leveraged AI tools to mine information and compile it.