According to the new market research Blood Gas Analyzer Market is expected to reach USD 636.0 Million by 2021, at a CAGR of 4.6% during the forecast period of 2016 to 2021. A number of factors, such as the growing number of patients being treated in ICUs, NICUs, and emergency departments, and the increasing adoption of technologically advanced biosensors and data analysis software for developing next-generation blood gas analyzers are expected to drive the growth of this market in the coming years.
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Leading players in blood gas analyzer market are focusing on the launch of new and improved products as their key growth strategy. The major players in the global blood gas analyzer market are Abbott Laboratories (U.S.), Alere, Inc. (U.S.), Instrumentation Laboratory (U.S.), Radiometer (Denmark), Roche Diagnostics (Switzerland), and Siemens Healthcare (Germany). The top 3 companies’ together account for a share of more than 70% of the global market. These players have adopted several strategies to remain competitive in this space. Enhancement of existing products, development of new products, collaborations and agreements are among the top strategies adopted by the leading companies in blood gas analyzers market.
Several players also focused on the strategy of acquisitions to strengthen their market positions and enhance their R&D capabilities. In February 2016, Abbott entered into an agreement with Alere Inc. (a Massachusetts-based leading point-of-care diagnostics company), to acquire it for USD 5.8 billion. With this agreement, Abbott is expected to become one of the leaders in the blood gas analyzers market. ERBA-Transasia Group (India) acquired Lumora, a U.K.-based provider of patented molecular diagnostic products for the clinical and industrial markets, in September 2015. This helped the ERBA-Transasia Group to expand its product portfolio and strengthen its overall market presence.
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rising demand for point-of-care analyzers is another major factor
driving the growth of the blood gas analyzer market. Products such as
epoc, ABL90, cobas b 123, and GEM 4000 are expected to grow at high
CAGRs during the forecast period (2016-2021) owing to advantages such as
portability and faster turnaround times offered by them. In the near
future, the commercialization of innovative POC blood gas analyzers
based on miniaturized sensors will emerge as a significant opportunity,
since the use of next-generation blood gas analyzers will reduce both
cost and time involved in processes. The introduction of new-generation
blood gas analyzers based on advanced sensors and the growing need for
blood gas analyzers that are compatible with electronic medical record
systems are some of the major factors expected to support market growth
in the coming years.