Market Research Reports Search Engine (MRRSE) announces the addition of a new report titled ‘Blood Gas and Electrolyte Analyzers Market : EME Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024’, which analyzes the trends, drivers and restraints, and competitive landscape of the market.

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The report is published by Transparency Market Research (TMR) and predicts that Europe and Middle East (EME) blood gas and electrolyte analyzers market will grow at a CAGR of 4.7% in terms of revenue from 2016 to 2024. The market is projected to rise from a valuation of US$114.4 mn in 2015 to US$170.5 mn by 2024. In terms of volume, the market is said to exhibit a slightly higher 5.0% CAGR during the forecast period.

Innovation in Medical Device Technology Aids Growth in Demand

The demand for better and improved medical devices has helped boost the growth of the blood gas and electrolyte analyzers market. With technological assistance, compact and multi-component analyzer devices help measure narrow parameters such as blood gas and electrolytes. The latest miniaturized blood gas analyzers are proficient enough to examine an array of parameters and provide quick results. Due to these innovative devices, faster diagnosis can lead to accurate therapy at an early stage of a disorder and can help avoid any future complications.

Portable blood gas analyzers have found a place in emergency and ambulatory care. They have also established a significant position in the healthcare industry due to their advantage of bed-side care. In addition, it has become easier to maintain patient record with the management of blood gas analyzers.

The demand for blood gas and electrolyte analyzers has grown over the years due to easier, faster, and more accurate diagnosis of various conditions such as heart failure, asthma, kidney failure, uncontrolled diabetes, severe infections, chronic obstructive pulmonary disease (COPD), and drug overdose. These devices have become an essential part of intensive care units (ICUs) and emergency medical services.

EU5 Countries to Dominate Market Due to Its Quality of Care

On the basis of geography, the market can be segmented into EU5, Nordics, and the Middle East. The EU5 region accounted for a massive market share of 74% in 2015. The emphasis on quality of care and sophisticated healthcare sector are the key factors that make these countries the regional market leader. With approximately 36% market share in 2015, Germany is currently leading the EU5 market and is expected to dominate in the next few years as well. Europe currently holds the second spot.

The Middle East accounted for a moderate 12.4% share in the market in the said year. The region offers opportunities in the blood gas and electrolyte analyzers market due to the growing prevalence of large number of diseases, leading to increase in patient burden. In order to become the foremost destination for medical tourism, the Middle East countries, in the recent past, have developed their healthcare sectors and are making noteworthy investments to improve the quality of healthcare.

The key players in the blood gas and electrolyte analyzers market include Nova Biomedical (U.S.), Radiometer Medical ApS (Denmark), Alere Inc. (U.S.), Medica Corporation (U.S.), Abbott Laboratories (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), ERBA Diagnostics Mannheim GmbH (Germany), and Instrumentation Laboratories (Werfen) (U.S.).

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