POC Blood Gas and Electrolyte Market Size, Share, Growth, and Industry Growth, By Type (Consumable and Instruments), By Application (Hospitals & Clinics, Clinical Diagnostic Laboratories, and Homecare Settings), Regional Forecast To 2028

Updated On: 13 March 2023

REPORT OVERVIEW

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The global POC blood gas and electrolyte market size was USD 1.39 billion in 2021 and the market is projected to touch USD 2.14 billion by 2028, exhibiting a CAGR of 6.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with POC blood gas and electrolyte experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

POC stands for point of care in the POC blood gas and electrolyte. It helps in measuring various parameters of various blood samples, such as electrolyte, pH, and pCO2 and pO2 in blood gas. Delivering decentralized, patient-centered healthcare is one of the cutting-edge ideas that has been offered in the realm of crucial care settings. These gadgets are essential in healthcare since they speed up diagnostic procedures, improve patient happiness, and speed up tests as well as hospital operations. Smaller handheld instruments can now benefit from improvements in diagnostic detectors thanks to this new technology. Location of care in hospitals where patients are receiving blood gas, ventilation, and electrolyte devices are primarily used. The expansion of the market for POC blood gas and electrolyte appliances has been aided by an increase in treatments in ICUs, NICUs, CVOR, and crisis departments. 

The market may experience growth due to the increasing prevalence of cancer and chronic diseases. The POC blood gas and the electrolyte is a captivating concept that presented the realm of critical care settings to offer patients patient-centric and decentralized health care systems. The after venous blood gas coupled with lactate measurement has a long record of clinical usage as a blood marker of tissue hypoxia, primarily in evaluating and keeping track of seriously ill patients in emergency departments and intensive care divisions. Arterial blood is the lactate measurement gold standard sample. But recent experience indicates that venous blood is a practical choice. Additionally, post-tests for blood sugar are performed on diabetic patients at home, at the bedside, or in the hospital.

COVID-19 Impact: Rising Health Concern Increased Market Growth

Due to the public's growing worry for their health during the COVID-19 outbreak, the market saw a rise in product demand. The rising concern for health and life was registered, which boosted the number of operations and surgeries in the global market. These factors surged the demand for the product in the market and had a favorable effect on the market growth. The rising number of cases led to more hospitalized patients, ultimately leading to the rise in product need. The pandemic, however, had a positive impact on the growth of the market,

LATEST TRENDS

"Rising Number of Patients with Chronic Diseases to Elevate Growth"

The consistently escalating number of patients being treated in intensive and emergency care units is likely to surge major growth in the market. Moreover, the presence of the old population in various countries may gain traction due to higher demand for blood gas analyzer apparatus. The rising medical tourism is also anticipated to propel the product demand. Additionally, rising research and development initiatives coupled with supportive government activities are forecasted to fuel the POC blood gas and electrolyte market growth.

Segmentation

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• By Type Analysis

By type, the market is segmented into consumable and instruments. 

The consumable segment is forecasted to dominate the type analysis due to the rising number of patients getting hospitalized. 

• By Application Analysis

Based on application, the market is classified into hospitals & clinics, clinical diagnostic laboratories, and homecare settings. 

Hospitals are anticipated to lead the application segment owing to the rising number of patients getting hospitalized. Most critical patients are hospitalized as they get better care at the hospital. 

DRIVING FACTORS

"Rising Number of Patients with Diabetes and Blood Disorders to Foster Growth"

Blood diseases and chronic illnesses are more common now, which is expected to continue throughout the forecast period. The sales of blood gas and electrolyte analyzers are anticipated to benefit from the increasing demand for blood testing. Diabetes necessitates routine blood testing, which is expected to increase the demand for POC blood gas and electrolyte analyzers. The market potential for blood gas and electrolyte analyzers is anticipated to be positively impacted by the increasing diagnostic procedures requiring blood analysis.

"Rising Popularity of the Device to Elevate Product Demand"

The unhealthy diet and lazy lifestyle is resulting in various chronic diseases among the population. The population’s rising awareness of the devices used for analyzing such diseases is anticipated to surge growth in the global market. The laboratories are steadily adopting the device for treatments in the cardiology operation rooms, emergency rooms, and intensive care rooms. These factors are likely to increase the POC blood gas and electrolyte market growth. 

RESTRAINING FACTORS

"High Replacement Cost to Affect Market Growth"

The high cost of maintenance and replacement is likely to be the major challenge in the growth of the market. Additionally, the need for replacing pump tubes, valves, and terminals used in the POC blood gas and electrolyte products increases the expense in laboratories and clinics, which may affect the market growth.

REGIONAL INSIGHTS

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"North America to Lead the Market Due To the Steady Adoption of Advanced Technologies"

North America is forecasted to hold a dominating part of the POC blood gas and electrolyte market share owing to the rising adoption of advanced technology induced portable analyzers. The growth is also attributable to the adoption of mixed blood gas and electrolyte analyzers in clinics, emergency departments, hospitals, and healthcare centers. 

Asia Pacific is likely to show commendable growth due to the rise in unmet medical demands, the geriatric population, and rising investment in healthcare industry. Additionally, India and China are projected to gain higher growth in the market due to the steady adoption of the product in emerging markets. 

KEY INDUSTRY PLAYERS

"Key Players Must Focus On Product Development for Global Market Growth"

The businesses are working on developing new eco-friendly and advanced equipment and healthcare products that provide customers better effectiveness and greater value. Businesses also use innovation, acquisitions, and investments to try to increase sales. They are raising their production capacity in order to better serve their various markets. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher part of the POC blood gas and electrolyte market share by launching new products. 

List of Market Players Profiled

• Abbott (U.S.)
• F. Hoffmann-La Roche (Switzerland)
• Instrumentation Laboratory (U.S.)
• Radiometer (Denmark)
• Bayer (Germany)
• Cornley (India)
• Convergent Technologies
• Edan Instruments (China)
• Erba Diagnostics (U.S.)
• Fortress Diagnostics (U.K.)
• Nova Biomedical (U.S.A)
• JOKOH (Japan)
• LifeHealth (U.S.)
• Medica

REPORT COVERAGE

The report covers various market aspects, such as:

• The product description is added to a brief about the product.
• Impacts of the lockdown followed by the pandemic.
• A driving factor becoming the new trend in the market and surging POC blood gas and electrolyte market growth.
• The factors which are likely to drive growth in the market.
• Factors expected to decline in growth in the market.
• An in-depth regional analysis of the market is performed.
• Key players and their headquarters are also covered in the report.