Albany, New York, May 15, 2017: Blood gas and electrolyte analyzers in the past years have been subjected to significant advantages thus transitioning from central laboratory applications to point-of-care diagnostic uses and treatment for respiratory ailments. Blood gas testing has emerged as a one of the most effective techniques used in the diagnosis of critically ill patients in the last couple of years. As manufacturers in this industry are conscious of the requirements of critical care testing, they offer equipment that are easy to use and provide accurate results. Moreover, they are also focusing on the manufacture of more compact designs in multi-parameter monitoring devices to cater to the increasing demand for advanced analyzers.
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The Europe and Middle East blood gas and electrolyte analyzers market is forecast to reach IS$170.5 mn by the end of 2024 from a valuation of US$114.4 mn in 2015. If these figures hold true, the Europe and Middle East blood gas and electrolyte analyzers market will exhibit a positive CAGR if 5.0% between 2016 and 2024.
Market to Gain from Rising Chronic Illnesses and Geriatric Population
The rising incidence of chronic illnesses and rising geriatric population are the chief factors affecting the demographics in the Middle East and Europe. This has resulted in the rise in patient pool receiving critical care in emergency departments, intensive care units, and operation rooms. Spurred by these factors the blood gas and electrolyte analyzers market in the Middle East and Europe is expected to report strong growth. In addition, the market is also expected to gain from the proliferation of diagnostic centers and hospitals across the region to help unburden the increasing critically ill patient pool. With the latest advancements, and many more just round the corner, veterans expect the market to register robust growth in the next couple of years.
Besides this, the market had witnessed substantial investment in the past few years aimed at developing fast and reliable solutions to offer precise and improved diagnosis to critically ill patients. The success of these efforts can be gauged from the fact that devices capable of testing blood gas in a minute or less is easily available in the market today. Besides this, there has been a considerable reduction in the overall amount of blood sample required for diagnosis. The rising demand for such compact blood gas and electrolyte analyzers is expected to give significant impetus to the market.
Lack of Skilled Professionals to Hinder Market to an Extent
Despite witnessing the aforementioned opportunities, the market is witnessing challenges in the Middle East and Europe due to the dearth of skilled professionals. The complex functioning of these analyzers requires expertise to for understanding the data. Other factor inhibiting the market to an extent is the recent economic slowdown witnessed in Europe, which had adverse impacts on the in-vitro diagnostic industry. To counter this, healthcare institutions across Europe have been adopting cost containment policies, which could hinder the market’s expansion to an extent.
Nevertheless, with technological advancements and favorable government policies encouraging penetration of advanced healthcare services in remote areas, the market will be able to overcome these restraints in the near future.
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Some of the companies with strong foothold in the Europe and Middle East blood gas and electrolyte analyzers market are Medica Corporation (U.S.), Abbott Laboratories (U.S.), Siemens Healthcare (Germany), Radiometer Medical ApS (Denmark), ERBA Diagnostics Mannheim GmbH (Germany), and F. Hoffmann-La Roche Ltd. (Switzerland).
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