Blood Gas Analyzers Market to Grow at Highest Pace Owing to Increasing Point-of-Care Testing
Blood gas analyzers are used to find the levels of oxygen and carbon dioxide, as well as other critical parameters like electrolytes, in the blood. They are useful in critical care units in hospitals to continuously monitor patients and make instant treatment decisions. These analyzers help doctors evaluate respiratory and metabolic disorders in patients. Point-of-care testing is gaining immense popularity as it offers real-time results and enables quick intervention. The growing focus on decentralized healthcare will further drive the demand for portable blood gas analyzers.
The Global Blood Gas Analyzers Market is estimated to be valued at US$ 2.07 Bn 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, Hort Americas, Heliospectra AB, and Agra Tech Inc. The key players are focused on launching innovative and portable blood gas analyzers to capitalize on the increasing demand for point-of-care testing.
The rising geriatric population suffering from chronic respiratory diseases like COPD is a major factor driving the demand for Blood Gas Analyzer Market Size. According to WHO estimates, over 65 million people suffer from moderate to severe COPD globally. Continuous monitoring offered by these devices aids quick diagnosis and management of such chronic conditions.
Technological advancements are allowing the development of miniaturized and intelligent blood gas analyzers. Integration of cloud connectivity, artificial intelligence, and machine learning is improving the accuracy and efficiency of testing. Portable analyzers with wireless connectivity enable remote monitoring of patients, which is expected to revolutionize decentralized healthcare systems.
Fastest Growing Regional Market for Blood Gas Analyzers
Over the coming years, Asia Pacific is projected to emerge as the fastest growing regional market for blood gas analyzers. Factors such as increasing healthcare expenditure, expansion of private healthcare insurance, rising medical tourism and enormous patient base make the region highly lucrative. Also, growing awareness regarding point-of-care testing and improving access to modern medical technologies will substantially drive the APAC blood gas analyzers market during the forecast period. Nations like India, China, Japan and South Korea will be the major revenue generators in this region.
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