Pune, India -- (SBWIRE) -- 05/29/2018 -- Market Scenario:
Point of care blood gas and electrolyte analyzers helps to measure different parameters of whole blood samples, such as blood gas (pCO2 and pO2), pH, and electrolytes. It is one of the innovative concepts that is introduced in the field of critical care settings to deliver decentralized, patient-centric health care to the patients. These devices are playing an important role in the field of healthcare and help in reducing therapeutic turnaround time, enhance patient satisfaction, accuracy, and quick test, and help to improve hospital operations. This new technology provides smaller handheld devices with advancements in diagnostic sensors.
Point of care blood gas and electrolyte devices are used majorly in the area of hospitals where patients are being ventilated. Increase in the treatments in NICUs, ICUs, Cardiovascular Operating Room (CVOR), and emergency department has boosted the point of care blood gas and electrolyte devices market growth. Additionally, rising prevalence of chronic diseases and cancer fuels the market growth.
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According to the Centers for Disease Control and Prevention, in 2015, the number of adults with diagnosed chronic bronchitis and emphysema were 9.3 million and 3.5 million respectively. Additionally, according to WHO in 2016, over 1.9 billion adults aged 18 years and older were obese, which was approximately 650 million. Overall 13% of world's adult population (11% of men and 15% of women) were obese. These diseases are the main cause of the immense growth of treatment in NICUs, ICUs, Cardiovascular Operating Room (CVOR), and emergency department. Point of care blood gas developers is now focusing on developing automated and user-friendly devices, which may lead the market of this product in the coming future. Healthcare expenditure across the world is rapidly increasing. From the last decade, healthcare expenditure in regions like the Americas and Europe has been growing rapidly. According to the Centers for Medicare & Medicaid Services, in 2015, the U.S. healthcare spending was increased by 5.8% and reached USD 3.2 trillion.
The market is expected to grow at a CAGR of 7.8% during the forecast period and is estimated to cross USD 2,543.1 million by 2023.
POC blood gas & electrolyte devices manufacturers
POC blood gas & electrolyte devices suppliers
Medical research laboratories
Research and development (R&D) companies
Market research and consulting service providers
The global POC blood gas and electrolyte devices market has been segmented on the basis of types and end users.
On the basis of the types, the market is segmented into consumables and Instruments. Furthermore, the instrument is segmented into benchtop and portable devices. The consumable devices are further segmented into reagents, cartridges, and others.
On the basis of end users, the market is segmented into hospitals & clinics, home care, research institutions, and others.
Considering the global scenario of the market, the Americas dominates the global point of care blood gas and electrolyte market owing to the presence of a huge patient population with a chronic diseases like diabetes, kidney and liver disease and increasing government support for research & development. Additionally, concentration of leading players in this region accounts for the major share of the global market. According to Centers for Disease Control and Prevention (CDC), 30.3 million people of all age group of the U. S. population diagnosed with diabetes in 2015. Rapidly rising diabetic patient population increases the footfall in hospitals, and create the immense demands for POC blood gas and electrolyte devices.
Europe is the second largest market, which is followed by Asia Pacific owing to the presence of well-developed healthcare sector, strong government support for research & development and high healthcare expenditure. Regionally, Europe is divided into Germany, France, the U.K, Italy, Spain, and Rest of Western Europe. Germany and the U.K are the major contributors to the European market growth.
Asia Pacific is also witnessing a rapid growth in this market due to rapidly increasing diabetic & obese population and rising healthcare expenditure. According to the WHO, 60% of world's total diabetic population lives in Asia Pacific region. Additionally, the presence of rapidly developing economies like India and China likely to fuel the market growth over the forecast period.
The Middle East & Africa hold the least share of the market due to poor political conditions in Africa, and limited availability of funds and medical facilities. The Middle East holds the major share of the Middle East & Africa region due to the presence of well-developed countries like Kuwait, Qatar, Oman, and Saudi Arabia. Whereas, African region is expecting a healthy growth due to the presence of a huge opportunity for the development of the market during the review period.
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Some of the major players in this market are Siemens, Abbott, F. Hoffman-La Roche Ltd., Radiometer, Nova medical, Edan Instruments Inc., and Instrumentation Laboratory.
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