EME Blood Gas and Electrolyte Analyzers Market, By Product (Blood Gas Analyzers, Electrolyte Analyzers, Combination Analyzers, and Consumables), By Modality (Laboratory Analyzers, Benchtop Analyzers, and Portable Analyzers), By End User (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers, and Clinics), and By Region (Europe, and Middle East) is estimated to be valued at US$ 159.5 Million in 2023 and is expected to exhibit a CAGR of 5.3% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focused on adopting growth strategies such as partnerships as well as product launches, which will drive the EME blood gas and electrolyte analyzers market during the forecast period. For instance, in May 2020, F. Hoffmann-La Roche Ltd, a biotechnology company that develops drugs and diagnostics, announced the (Conformité Européenne) CE mark availability of Roche v-TAC, a new digital diagnostic solution that allows clinicians to obtain results for arterial blood gas values from patients with respiratory or metabolic abnormalities via a simpler, less invasive venous puncture through the use of a digital algorithm.
EME Blood Gas and Electrolyte Analyzers Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the EME blood gas and electrolyte analyzers market. The increase in COVID-19 cases increased elective surgical procedures and the increase in critical care of patients. The growth of the EME blood gas and electrolyte analyzers market is witnessing an increase due to the outbreak of COVID-19. For instance, in March 2022, according to an article published in the Journal of Computers in Biology and Medicine, the need for blood gas analyzers increased due to the outbreak of covid-19, as a result of low oxygen levels and the patients' urgent need for the covid-19 therapy.
EME Blood Gas and Electrolyte Analyzers Market: Key Developments
In July 2022, Inspira-Technologies OXY B.H.N. LTD., a respiratory support technology company, revealed the development of the HYLA blood sensor. The HYLA blood sensor is expected to continuously measure several key indicators such as the levels of partial oxygen and carbon dioxide pressures, known to be precise indicators of health disorders and patient deterioration. The HYLA blood sensor may have broad application potential, benefiting patients undergoing procedures including intensive care unit (ICU) monitoring (approximately 40% of patients have a standard arterial line), Invasive Mechanical Ventilation, Extracorporeal Membrane Oxygenation (ECMO), Dialysis and Cardiopulmonary bypass.
In April 2020, Siemens Healthcare GmbH, a medical device company, announced that its latest critical care testing solution, the RAPIDPoint 500e Blood Gas Analyzer, has received clearance from the U.S. Food and Drug Administration. The analyzer generates blood gas, electrolyte, metabolite, CO-oximetry, and neonatal bilirubin results, which are used to diagnose and monitor critically ill patients in the intensive care unit, operating room, or emergency room.
In April 2020, Nova Biomedical, which develops, manufactures, and sells advanced technology blood testing analyzers, announced the addition of PT/INR testing prothrombin time/international normalized ratio for its Allegro capillary blood analyzer for point-of-care (POC) testing in primary care settings. The upgrade allows Allegro to monitor patient coagulation therapy in addition to testing for glycemic control, kidney function, anemia, gout, and cardiac risk with a full lipid panel. PT/INR is just one of 18 tests for the Allegro platform, including HbA1c, Cholesterol, Triglycerides, Glucose, Creatinine, UACR, Hemoglobin, Hematocrit, and Uric Acid.
Browse 30 Market Data Tables and 22 Figures spread through 200 Pages and in-depth TOC on “EME Blood Gas and Electrolyte Analyzers Market”- Forecast to 2030, By Product (Blood Gas Analyzers, Electrolyte Analyzers, Combination Analyzers, and Consumables), By Modality (Laboratory Analyzers, Benchtop Analyzers, and Portable Analyzers), By End User (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers, and Clinics), and By Region (Europe, and Middle East)
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Key Takeaways of the EME Blood Gas and Electrolyte Analyzers Market:
- The EME blood gas and electrolyte analyzers market is expected to exhibit a CAGR of 5.3% during the forecast period. The collaboration with emerging economies offers lucrative growth opportunities for players in the EME blood gas and electrolyte analyzers market.
- Among End User, the hospitals segment is expected to grow in the EME blood gas and electrolyte analyzers market over the forecast period, due to the rise of Covid-19 instances, population growth, and chronic diseases including cardiovascular (CVD), cancer, etc.. For instance, in May 2022, an article published in the Journal of Health Policy explained the exponential increase in SARS-CoV-2 infections during the first wave of the pandemic created an extraordinary overload and demand on hospitals, especially intensive care units (ICUs), across Europe.
- Among Product Type, the blood gas analyzers segment is expected to hold a dominant position in the EME blood gas and electrolyte analyzers market during the forecast period and this is attributed due to the high prevalence of chronic diseases such as CVD, cancer, etc. and increase in geriatric population will lead to the growth of blood gas analyzers for critical care of patients. For instance, on April 12, 2023, according to Eurostat, the median age of the population in Europe, which is rising, was 44.4 years old in 2022, making up half of the continent's population. At that time, more than 21.1% of the continent's population was over 65.
- Major players operating in the EME blood gas and electrolyte analyzers market include Abbott, Medica Corporation, Nova Biomedical, Radiometer Medical ApS, F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, EKF Diagnostics, ERBA Diagnostics Mannheim GmbH, Inspira-Technologies OXY B.H.N. LTD, and Werfen.
