According to a new report published by Allied Market Research, titled, Blood Gas and Electrolyte Analyzers Market by Type, Product/Brand, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global blood gas and electrolyte analyzers market was valued at $1,427 million in 2016, and is projected to garner $2,104 million by 2023, registering a CAGR of 5.7% from 2017 to 2023. The consumables segment accounted for the highest market share in 2016, owing the demand for the consumables, such as electrodes, solutions, quality control, required in the instruments installed. These are used in hospitals, clinics, emergency departments, ambulatory surgical centers, critical care, and others.

North America is expected to dominate the global blood gas and electrolyte analyzer market during the forecast period. However, the market is growing at a faster rate in the developing countries, owing to the increase in the number of patients suffering from chronic diseases and improvement in the healthcare facilities.

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The major companies profiled in the report include Radiometer Medical Aps (A Subsidiary of Danaher Corporation) (Denmark), Instrumentation Laboratory (A Werfen Company) (U.S.), Siemens AG (Germany), Roche Diagnostics Limited (Switzerland), Abbott Laboratories, Inc. (U.S.), Nova Biomedical (U.S.), OPTI Medical Systems, Inc. (A Subsidiary of Idexx Laboratories, Inc.) (U.S.), ERBA Diagnostics Mannheim GmbH (Germany), Medica Corporation (U.S.), and Alere, Inc. (U.S.)

Blood gas analyzers are used to measure different parameters, such as pH, blood gas (pCO2 and pO2), electrolytes, and metabolites, from the whole blood samples. Growth in number of patients being treated in ICUs, NICUs, and emergency departments; rise in number of patients suffering from chronic diseases; technological advancement in blood gas & electrolyte analyzers, and increase in number of product approvals are the major factors driving the market growth. However, complexity involved in the interpretation of data act as a restraining factor for the market growth. Increase in investment by major medical diagnostics giants and improvement in healthcare facilities in Asia-Pacific provides growth opportunities for the market.

The portable blood gas analyzers segment accounted for the highest share of the global market in 2016, owing to its advantages, such as ease and flexibility in terms of usage to diagnose blood gas of the patients irrespective of the location and time.

The ABL Flex product segment accounted for two-fifths share of the global market in 2016, owing to the wide range of product offering related to portable analyzers and benchtop analyzers.

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The hospitals segment accounted for highest market share in 2016, owing to the rise in number of patients treated with chronic diseases globally and the increase in number of patients treated in ICUs, NICUs, and emergency departments.

Geographically, North America dominated the global market in 2016, and is estimated to continue its dominance during the forecast period. This is attributed to higher adoption for technologically advanced devices, well-equipped healthcare facilities, and rise in admission of patients in ICUs, NICUs, and emergency departments.