According to a report from Transparency Market Research, the Europe and Middle East (EME) market for blood gas and electrolyte analyzers will expand at a CAGR of 4.7% in terms of revenue from 2016 to 2024. With this expansion, the market is expected to grow from US$114.4 mn in 2015 to US$170.5 mn by 2024. In terms of volume, the market is to exhibit a slightly higher 5.0% CAGR over the forecast period. The combination analyzers market is expected to witness growth, with a rise in point-of-care diagnostic devices due to obvious advantage of faster disease diagnosis.
Clinical laboratories use blood gas and electrolyte analyzers for accurate diagnosis of numerous diseases such as asthma, chronic obstructive pulmonary disease (COPD), kidney failure, heart failure, uncontrolled diabetes, severe infections, and drug overdose. These analyzers are also very useful in intensive care units (ICUs) and emergency medical services. While the blood gas analyzer measures partial pressure of oxygen in a patient's body, the electrolyte analyzer measures concentration of vital elements such as sodium, potassium, and calcium.
This combination analyzer's market is segmented on the basis of modality, product, end-user, and geography. Key findings of the report include:
- Based on modality, the market has been segmented into laboratory, benchtop, and portable. Portable analyzers that are gaining wider acceptance in EMEare expected to propel the market in the next few years.
- Product wise, the market includes blood gas analyzers, electrolyte analyzers, combination analyzers, and consumables. The demand for combination analyzers is increasing gradually and is expected to grow at a maximum rate in coming years.
- End-users of the market are hospitals, diagnostic centers, clinics, and ambulatory surgical centers.
- By region, EME is divided into EU5, Nordics, and Middle East, of which EU5 accounted for the maximum share of the market.
Key manufacturers in the market are - Abbott Laboratories (U.S.), Medica Corporation (U.S.), Nova Biomedical (U.S.), Radiometer Medical ApS (Denmark), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthcare (Germany), Alere Inc. (U.S.), ERBA Diagnostics Mannheim GmbH (Germany), and Instrumentation Laboratories (Werfen) (U.S.).