The European and Middle East blood gas and electrolyte analyzers market is extremely consolidated in nature with a few players holding a major share of the market, states a new market intelligence study that has been recently published by Transparency Market Research. The rising focus of the key players on the research and development activities and innovations are projected to enhance the growth of the overall market in the next few years. Some of the key players operating in the blood gas and electrolyte analyzers market across the European and Middle East are Radiometer, Siemens Healthcare, and Instrumentation Laboratories. Furthermore, the rise in the number of mergers and acquisitions and collaborations is estimated to generate potential growth opportunities for the market players in the next few years. In addition to this, the expected entry of new players is likely to enhance the growth of the market in the coming few years.
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According to the market research study by Transparency Market Research, in 2015, the Europe and Middle East Market for blood gas and electrolyte analyzers was worth US$114.4 mn and is projected to reach a value of US$170.5 mn by the end of 2024. The market is likely to register a healthy 4.70% CAGR between 2016 and 2024. On the basis of volume, the market is projected to exhibit a 5.0% CAGR between 2016 and 2024.
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EU5 market for Blood Gas and Electrolyte Analyzers Market in near Future
Among the key regional segments, the Europe and Middle East market has been classified into Nordics, EU5, and Middle East. Among these, the EU5 segment is projected to account for a large share of the overall market in the next few years. The strong growth of this region can be attributed to the well-established healthcare sector. Germany is predicted to lead the EU5 market in the coming few years. In addition to this, the rising demand for point-of-care diagnostics is another key factor that is predicted to enhance the growth of the market in the next few years. Furthermore, Europe is anticipated to witness a promising growth in the coming few years.
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On the basis of product mortality, the European and Middle East market for blood gas and electrolyte analyzers has been categorized into benchtop analyzers, laboratory analyzers, and portable analyzers. Among these, the laboratory analyzers segment is projected to hold a large share of the overall market throughout the forecast period. On the other hand, the lack of skilled labors is predicted to restrict the growth of this segment in the coming few years.
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Rising Chronic Diseases to Enhance Growth of Market in Near Future
A significant rise in the geriatric population and the rising prevalence in chronic disease are projected to enhance the growth of the European and Middle East market for blood gas and electrolyte analyzers in the next few years. The rising demand for PoC analyzers and the reduction in the critical care costs are estimated to support the growth of the overall market in the next few years. On the flip side, the unfavorable reimbursement scenario and the lack of data analysis software are predicted to restrict the growth of the market in the next few years. Moreover, the complex interpretation and operations of data is likely to restrict the growth of the market in the near future. Nonetheless, the technological advancements and innovations are likely to offer growth opportunities for the market players in the next few years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Blood Gas and Electrolyte Analyzers Market (Modality – Laboratory, Benchtop, and Portable; Product Type – Blood Gas Analyzers, Electrolyte Analyzers, Combination Analyzers, and Consumables): EME Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
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