Market Challenges And Opportunities

Restaints

Furthermore, growing number of patients being treated in NICUs, ICUs, and emergency departments is increasing the demand for blood gas and electrolyte analyzers. Also, increasing number of patients suffering from chronic diseases and cancer, contributes to growth of the blood gas and electrolyte analyzers market. Additionally, advancements in blood gas and electrolyte analyzers, and increasing number of product approvals are major factors favoring growth of the blood gas and electrolyte analyzers market. However, complexity involved in the interpretation of blood analysis data hinders growth of the market.

Market Drivers

Growing geriatric population, who are at increased risk for acquiring cancer development and chronic diseases, which require frequent testing of blood gas testing and point-of-care (PoC) diagnostic evaluation, which projects growth of the blood gas and electrolyte market. According to W.H.O, around 3 million deaths were caused by chronic diseases, globally, in 2015, accounting for 5% of all the death globally in that year. This in turn led to significant increase in traffic of emergency cases, thus creating high demand for blood gas and electrolyte analyzers.

According to W.H.O, over three quarters of chronic disease take place in low-and middle-income countries, as they do not have the benefit of primary integrated programmes for early detection and treatment as compared to people in high income countries, which is expected to increase growth of the market in Asia Pacific. In the Middle East and Africa, the United Nations Fund for Population Activities (UNFPA) introduced Country Program Action Plan (CPAP) to prevent diseases. This in turn is expected to create new opportunities for growth of the blood gas and electrolyte analyzers market.