At 5.5% CAGR, Europe Blood Gas and Electrolyte Analyzer Market is Projected to be Worth US$ 1,074.96 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe blood gas and electrolyte analyzer market was valued at US$ 702.68 million in 2023 and is expected to reach US$ 1,074.96 million by 2031, registering a CAGR of 5.5% from 2023 to 2031. New product launches and approvals and rising adoption of point-of-care diagnostics are among the critical factors attributed to drive the Europe blood gas and electrolyte analyzer market growth.

The development of the healthcare industry has led to a rise in the demand for blood gas and electrolyte analyzers among healthcare providers across the world. This increased demand contributes to new product developments, product launches, and approvals on a global level. In addition, major market players are involved in research and development activities to ensure the innovation and development of efficient products. Following are a few of the recent product launches and developments:

• In July 2023, Siemens Healthineers launched the new Atellica CI Analyser for clinical chemistry and immunoassay testing. The US Food and Drug Administration (FDA) permitted the analyzer before its debut. It is currently accessible in several international locations.
• In July 2022, at the 74th American Association for Clinical Chemistry Annual Scientific Meeting and Clinical Laboratory Exposition (2022 AACC), EDAN Instruments, Inc. announced the launch of the first-ever point-of-care (POC) fluorescence-based CO-OX blood gas and chemistry analysis system, i20. The system has over 45 parameters, ranging from blood gases to electrolytes to CO-oximetry.
• In April 2021, Siemens Healthiness EU launched the epoc Blood Analysis System, a wireless, portable device that provides patient-side results in less than a minute. It measures hematocrit and lactate on a single room temperature-stable test card, complete blood gas, and a basic metabolic panel. It is aided by its support of COVID-19 response efforts, as blood gas testing is essential for managing infected individuals.

Thus, an increase in product developments, launches, and strategic collaborations among market players is likely to create ample opportunities for the blood gas and electrolyte analyzers market in the coming years.

On the contrary, high costs of analysers hamper the growth of Europe blood gas and electrolyte analyzer market.

Based on product, the Europe blood gas and electrolyte analyzer market is categorized into blood gas analyzer, electrolyte analyzer, combined analyzer, and others. The combined analyzer segment held 62.6% market share in 2023, amassing US$ 440.11 million. It is projected to garner US$ 691.31 million by 2031 to register 5.8% CAGR during 2023–2031.

By end user, the Europe blood gas and electrolyte analyzer market is categorized into hospitals and clinics, clinical and diagnostic laboratories, homecare, and others. The clinical and diagnostic laboratories segment held 67.4% share of Europe blood gas and electrolyte analyzer market in 2023, amassing US$ 473.43 million. It is projected to garner US$ 740.11 million by 2031 to expand at 5.7% CAGR from 2023 to 2031.

Based on country, the Europe blood gas and electrolyte analyzer market is categorized into Germany, the UK, France, Spain, Italy, and the Rest of Europe. Our regional analysis states that the Germany captured 29.1% share of Europe blood gas and electrolyte analyzer market in 2023. It was assessed at US$ 204.34 million in 2023 and is likely to hit US$ 304.86 million by 2031, registering a CAGR of 5.1% during 2023–2031.

Key players operating in the Europe blood gas and electrolyte analyzer market are Abbott Laboratories, Dalko Diagnostics Private Limited, Erba Diagnostics Mannheim GmbH, Hoffmann-La Roche Ltd, Medica Corporation, Nova Biomedical Corporation, Siemens Healthineers AG, Werfen SA, Radiometer Medical ApS, and Sensa Core Medical Instrumentation Pvt Ltd., among others.

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