Report Overview
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The global electrolyte analyzers market size was USD 1.314 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the electrolyte analyzers market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 1.983 billion in 2028, exhibiting a CAGR of 7.1% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
An electrolyte analyzer is a device that employs an electronic mechanism for examining the electrolytes in the human body. Sodium, potassium, and chloride concentrations in whole blood, serum, or plasma are primarily measured quantitatively using these techniques. Electrolytes have a variety of tasks in the regulation of bodily processes, including maintaining a healthy body pH, controlling cardiovascular activity and other muscles, and taking part in enzymatic processes. Congestive cardiac failure, diabetes insipidus, and kidney disorders can all be caused by electrolytic imbalances. These factors make electrolytic analysis a crucial component of patient diagnosis and care.
Electrolyte analyzers check basic concentrations of electrolytes present in the body to look for enzymatic imbalances and gauge renal and cardiac performance. Sodium (Na+), potassium (K+), chloride (Cl-), and bicarbonate are the electrolytes that are assessed (HCO3- or CO2). Hospital and reference laboratories, as well as point-of-care settings, all use electrolyte analyzers. Typically, electrolyte analyzers employ blood plasma, serum, or urine samples; however, some may accept cerebrospinal fluid whole blood for quicker results. Ion-selective electrodes (ISE), along with colorimetric and photometric methods, are used to determine electrolytes. Most electrolyte analyzers can perform 400 to 2400 tests per hour, which is quite significant.
COVID-19 Impact: Market Growth Suffered Due To Adversity In Production
The unprecedented nature of the pandemic had a considerable impact on the socio-economic fabric of society. Businesses experienced severe hardship; some even had to close, and employees were let go. Production activities were severely constrained by the worldwide shutdown ban imposed by national governments. The rigorous movement restrictions had a negative impact on electrolyte analyzer production as well. As a result, even though there was a sizable demand for electrolyte analyzers, there was an insufficient supply, which adversely affected the market growth of electrolyte analyzers during the pandemic.
Latest Trends
"Adoption Of EC 90 ISE Analyzer To Contribute To The Market Expansion"
The concentration of various ions in the blood is measured using electrolyte analyzers in hospitals, clinical laboratories, and point-of-care settings. The EC 90 ISE analyzer is a next-generation electrolyte analyzer that integrates brand-new, maintenance-free biosensor technology with an intuitive user interface, sophisticated data management, and exceptional precision. The EC 90 ISE analyzer is a clinician's dream tool thanks to its long-lasting reliability and replaceable polymer sensor cartridge. The analyzer is relatively simple to use, and the built-in software helps eliminate any common errors made by more conventional electrolyte analyzers. These developments in the electrolyte analyzer market are anticipated to help the electrolyte analyzer market share to increase.
Segmentation
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- By Type Analysis
According to type, the market can be segmented into Fully-automatic Electrolyte Analyzers and Semi-automatic Electrolyte Analyzers The fully-automatic electrolyte analyzers are the leading the market by type segment.
- By Application Analysis
Based on application, the market can be divided into Medical Applications and Experimental Applications. By application, the medical applications hold the majority of the market share.
Driving Factors
"Rise In Chronic Disease To Propel The Market Demand"
Owing to the rapid expansion of cities, society now lives in a very unhealthful atmosphere. People are having serious health difficulties as a result of the hasty lifestyle changes that have been made. Therefore, chronic diseases like diabetes, heart disease, and renal difficulties have significantly increased as a result of the expanding urban lifestyle. The electrolyte analyzer may measure the number of ions in the blood and provide quantitative information on such chronic diseases. Therefore, it is anticipated that the application of electrolyte analyzers would increase as a result of the rise in chronic diseases, leading to the expansion of the electrolyte analyzer market throughout the course of the forecast period.
"Demand For Electrolyte Analyzer To Increase Due To Development Of Ion-Selective Electrodes"
The major market players have invested a considerable amount of funds in the research and development of more sophisticated and effective electrolyte analyzers. A completely new era for laboratory analyzers, especially for small dedicated one- or two-test analyzers, was ushered in by the development of ion-selective electrodes, particularly for magnesium, glucose, and calcium. In particular, electrolyte analyzers were ideally positioned to benefit from this innovation. Even though electrolyte analyzers are now regarded as mature technology, advancements are always being made. As a result, it is anticipated that the market size would increase throughout the forecast period due to improvements in electrolyte analyzer technology.
Restraining Factors
"High Cost To Harm The Market Expansion"
Electrolyte analyzers are sophisticated medical technology. The device's overall cost is quite high due to the complexity and required accuracy. Since electrolyte analyzer installation is somewhat expensive, there is less demand from the low- and middle-income economy's healthcare sector. Although these economies have a very high potential for such equipment, the hospitals and clinics are unable to increase demand due to capital restrictions. Therefore, it is anticipated that the expensive cost of installing the electrolyte analyzer will restrict the market expansion of electrolyte analyzer.
Regional Insights
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"North America Dominates The Market Due To Its Advanced Healthcare System"
North America currently dominates the electrolyte analyzer market and is anticipated to remain doing throughout the forecast period due to the existence of strong healthcare infrastructure. Some of the factors driving this market in the region include the high levels of practitioner and patient awareness, the well-established healthcare infrastructure, and government backing for R&D initiatives. Due to the quickly rising healthcare costs and patient awareness levels, Europe currently has the second-largest market after North America for electrolyte analyzers and is anticipated to have strong expansion during the forecast period.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Convergent Technologies (U.S.)
- Meizhou Cornley Hi-Tech (China)
- JS Medicina Electronica (Argentina)
- Meril Life Sciences (India)
- HANNA Instruments (U.S.)
- BPC BioSed (Italy)
- Caretium Medical Instruments (China)
- URIT Medical Electronic (China)
- Erba diagnostics Mannheim (Germany)
- Hycel Handelsgeselschaft m.b.H. (Germany)
- IDEXX LABORATORIES (U.S.)
- Nova Biomedical (U.S.)
- Roche (Switzerland)
- SFRI (France)
- Medica (U.S.)
- Shenzhen Genius Electronics (China)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
| Market Size Value In | US$ 1.314 Billion in 2022 |
| Market Size Value By | US$ 1.983 Billion by 2028 |
| Growth Rate | CAGR of 7.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| Historical Data Available | Yes |
| Segments Covered | Types & Application |
| Regional Scope | Global |
Frequently Asked Questions
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What value is the global electrolyte analyzers market expected to touch by 2028?
The global electrolyte analyzers market is expected to touch USD 1.983 billion by 2028.
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What CAGR is the electrolyte analyzers market expected to exhibit during 2028?
The electrolyte analyzers market is expected to exhibit a CAGR of 7.1% over 2028.
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Which are the driving factors of the electrolyte analyzers market?
The driving factors of the electrolyte analyzers market are rise in chronic disease and the development of ion-selective electrodes.
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Which are the top companies operating in the electrolyte analyzers market?
Some of the top companies operating in the electrolyte analyzers market are Convergent Technologies (U.S.), Meizhou Cornley Hi-Tech (China), JS Medicina Electronica (Argentina), Meril Life Sciences (India) and HANNA Instruments (U.S.).
