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.
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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.
“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.
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.
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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.
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.
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