Albany, NY -- (SBWIRE) -- 11/27/2017 -- The competitive landscape of blood gas and electrolyte analyzer manufacturers is extremely consolidated, with the top three players taking up 75% of the total market value in 2014. Radiometer Medical ApS led the market at the time with over 41% of the market, followed by Siemens Healthcare and Instrumentation Laboratory. Radiometer Medical ApS has consistently held the top position in blood gas and electrolyte analyzer production and sales through a broad product portfolio and a high rate of market penetration.
A common trend shown by all top players in increasing their production and R&D efforts in point-of-care devices, according to Transparency Market Research. While these device types will not entirely replace the conventional tabletop analyzers, they will be used across a much wider application spectrum.
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Portability of Blood Gas Analyzers Adds Heavily to Their Rate of Use
"The introduction of portable blood gas and electrolyte analyzers was one of the bigger steps taken for this market," explains a TMR analyst. "It means that healthcare organizations can use them in ambulatory and other emergency care applications, rather than conventional use in high priority hospital care."
It is only one of the major changes that have occurred in blood gas and electrolyte analyzer technology recent times. The adoption of point-of-case diagnosis in healthcare, for instance, has allowed these devices to attain an important position next to patient beds. Additionally, blood gas analyzers are becoming increasingly smarter and more synchronized, allowing them to help maintain patient record management a lot easier.
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Inaccurate Calibration and Misdiagnosis Still a Problem with Blood Gas and Electrolyte Analyzers
One of the key restraints to the growth of blood gas and electrolyte analyzers still remains to be the use of badly calibrated blood gas analyzers, especially the portable ones. Their use by inexperienced non-laboratory personnel significantly increases the changes of the devices going without regular maintenance and recalibration, creating a large scope for error in diagnosis.
Another issue that blood gas and electrolyte analyzer companies are struggling with is to resolve the issue of personnel using faulty samples. The two leading causes of misdiagnosis through blood gas and electrolyte analyzers is to use arterial blood with air bubbles or the use of mixed venous blood or even venous blood.
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North America Will Continue Leading Blood Gas and Electrolyte Analyzer Sales
North America held the leading revenue collection in 2014 and 2015. By the end of 2016, it is expected to cross US$605 mn, and is expected to progress at a CAGR of 9.86% between 2014 and 2023. This is the top growth rate among all geographical segments for blood gas and electrolyte analyzers and will therefore maintain its leading position till 2023.
Combination analyzers and consumables are expected to contribute a huge chunk of revenue of blood gas and electrolyte analyzer players by being propelled at high CAGRs. Revenue generation of consumables such as electrolytes and electrodes is expanding at a strong CAGR of 13.02% from 2015 to 2013.
The global blood gas and electrolyte analyzer revenue generation is expected to expand at a CAGR of 9.66% between 2015 and 2023. The total revenue expected by the end of 2016 is around US$1.8 bn. By the end of 2023, this market is expected to reach US$3.4 bn.