Portable Blood Gas and Electrolyte Analyzers Market Size (2023-2030)

In 2022, the Global Portable Blood Gas and Electrolyte Analyzers Market was valued at USD 1.06 billion and is projected to reach a market size of USD 1.58 billion by 2030. Over the forecast period of 2023-2030, the market is projected to grow at a CAGR of 5.1%.

The Portable Blood Gas and Electrolyte Analyzers are used to analyze blood samples to measure different parameters including partial pressure of blood gases like oxygen & carbon dioxide, concentrations of electrolytes such as sodium, potassium, magnesium, calcium along with certain metabolites such as glucose, lactic acid and several others. These analyzers are easy to handle and give accurate results in less time. Due to the rising geriatric population across the world, the demand for portable devices which can provide point-of-care diagnosis and reduce the number of hospital visits, as it is very difficult for elderly people to visit diagnostic centers/hospitals for regular checkups and this attribute is projected to propel the growth of Global Portable Blood Gas and Electrolyte Analyzers Market. As these devices provide fast & accurate results at home, the need for skilled medical professionals is significantly eliminated, which further supports the expansion of Portable Blood Gas and Electrolyte Analyzers Market. The integration of data generated from portable blood gas and electrolyte analyzers with information systems of diagnosis laboratories along with patient’s electronically generated medical records, provides significant opportunity for leading market players and emerging new entrants

Global Portable Blood Gas and Electrolyte Analyzers Market Drivers:

Growing geriatric population is estimated to drive the growth of the market

Due to the rapid increase in geriatric population across the world, the need for point-of-care services for old age people increases significantly as it is very difficult for them to have regular checkups by visiting diagnostic centers or hospitals. Owing to this rise in demand for point-of-care diagnosis, the Portable Blood Gas and Electrolyte Analyzers Market is estimated to experience a rapid expansion during the forecast period.

Rising preference for portable blood gas and electrolyte analyzers is projected to drive the growth of Portable Blood Gas and Electrolyte Analyzers Market significantly

The portable blood gas and electrolyte analyzers are handy, easy to use, cost-effective and provide rapid & accurate results. These devices also eliminate the need of skilled medical professionals for regular diagnosis. Owing to these attributes, the Portable Blood Gas and Electrolyte Analyzers Market is anticipated to witness a significant growth during the forecast period.

Global Portable Blood Gas and Electrolyte Analyzers Market Challenges:

The complexity in interpretation of data generated from these analyzers is estimated to remain a major challenge for the Portable Blood Gas and Electrolyte Analyzers Market

Due to the complexity in interpretation of data generated from the portable blood gas and electrolyte analyzers is a major challenge for the Portable Blood Gas and Electrolyte Analyzers Market and thus, it requires integration of smart technology to make the interpretation more simplistic.

Global Portable Blood Gas and Electrolyte Analyzers Market Opportunities:

The need for integration of analyzers with laboratory systems and patient’s electronic medical records offer a very lucrative opportunity in the Portable Blood Gas and Electrolyte Analyzers Market

There is a significant need for integration of data generated from diagnosis via portable blood gas and electrolyte analyzers with the information system of laboratories and patient’s electronic medical records, in order to reduce dependency on manual integration work and bring more efficiency in the process. This need offers a lucrative opportunity for leading medical devices industry players and new entrants as well.

COVID-19 Impact on Global Portable Blood Gas and Electrolyte Analyzers Market:

The COVID-19 outbreak is estimated to have a positive impact on Portable Blood Gas and Electrolyte Analyzers Market, owing to the increase in construction of hospitals, clinics and diagnostic centers across the globe during the pandemic in order to increase the hospital capacity for COVID-19 patients coupled with rise in point-of-care initiatives to reduce the load on hospitals.

Global Portable Blood Gas and Electrolyte Analyzers Market Recent Developments:

In July 2022, EDAN Instruments Inc., leading medical products providing organization, unveiled a new Point-of-Care fluorescence-based blood gas analysis system, i20. In June 2022, Sysmex America Inc., a prominent name in the diagnostics solutions marketplace, received approval from US FDA for their automated hematology analyzer, which is the first automated analyzer to receive approval to be utilized for counting residual WBCs.

PORTABLE BLOOD GAS AND ELECTROLYTE ANALYZERS MARKET REPORT COVERAGE:

Global Portable Blood Gas and Electrolyte Analyzers Market Segmentation: By Product Type

• Combined Analyzers

• Blood Gas Analyzers

• Electrolyte Analyzers

• Consumables

The Consumables segment holds the largest share of the Global Portable Blood Gas and Electrolyte Analyzers Market and is estimated to maintain this dominance during the forecast period, owing to the rapid increase in number of patients with chronic diseases, which in turn increases the demand for blood tests. The Combined Analyzers segment is anticipated to register the fastest growth during the forecast period, owing to the presence of a large portfolio of commercialized products compared with other analyzers coupled with growing preference for genetic testing for patients admitted in emergency or critical care units in hospitals.

Global Portable Blood Gas and Electrolyte Analyzers Market Segmentation: By End Use

• Hospitals

• Diagnostic Centers

• Clinical Laboratories

• Point-of-care

The Clinical Laboratories and Diagnostic Centers segments account for the largest revenue share of the Global Portable Blood Gas and Electrolyte Analyzers Market, owing to the presence of extensive number of diagnostic tests, doctor’s recommendation and presence of such clinical laboratories and diagnostic centers near or in the hospitals itself. The Point-of-Care segment is, however, anticipated to experience the fastest growth during the forecast period, owing to the rising demand for quick diagnosis near patient site or at home, rapid increase in initiatives to reduce patient’s hospital visits and quick emergence of startups providing point-of-care services and near patient’s site diagnosis.   

Global Portable Blood Gas and Electrolyte Analyzers Market Segmentation: By Region

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East

• Africa

The North America accounts for the largest revenue share of the Global Portable Blood Gas and Electrolyte Analyzers Market and is estimated to maintain this dominance over the forecasted period of 2023-2028, owing to the presence of well-developed healthcare infrastructure in the region, coupled with rising demand for easy to carry, portable & wireless connectivity-based point-of care devices. With the growing prevalence of diseases which require regular check-ups such as diabetes, the demand for portable blood gas and electrolyte analyzers is estimated to increase rapidly in the North American region. However, the Asia-Pacific region is anticipated to witness the fastest growth during the forecast period, owing to the increasing expenditure on the healthcare industry in various developing nations in the region, coupled with rising awareness about diseases & diagnostics in countries including India and China.

Global Portable Blood Gas and Electrolyte Analyzers Market Key Players:

1. Abbott Laboratories

2. Medica Corp.

3. OPTI Medical systems Inc.

4. Siemens

5. Bayer

6. Alere Medical

7. Samsung Medison

8. Roche

9. Nova stat

10. Edan Instruments