Blood Gas Monitors Market: Current Analysis and Forecast (2022-2030)
Emphasis on Product Type (Pulse Oximeters, Point-of-Care Blood Gas Analyzers, Arterial Blood Gas Sampling kits, Laboratory blood gas Analyzers, and Others); Type (Portable Type and Desktop Type); End-User (Hospital, Ambulatory Surgical Centers, Diagnostic Centers, and Others); and Region/Country
The blood gas monitors market was valued at 3.4 Billion in year 2021 and expected to grow at a strong CAGR of around 5% during the forecast period (2022-2030). This is mainly due to the advancements in technology and the development of innovative blood gas monitoring systems Manufacturers are introducing portable handheld devices and point-of-care testing (POCT) systems that offer convenience, ease of use, and faster results. These technological advancements facilitate bedside monitoring, reduce turnaround time, and enhance patient care in various healthcare settings, including ambulances, critical care units, and clinics. Moreover, the blood gas monitor market is driven by several factors such as the increasing prevalence of respiratory diseases, like chronic obstructive pulmonary disease (COPD) and asthma. These conditions require continuous monitoring of blood gas parameters to assess the severity of respiratory impairment and guide appropriate treatment strategies. For instance, according to the world health organization (WHO), Asthma affected an estimated 262 million people in 2019 and caused 455,000 deaths. Additionally, the rising global geriatric population, susceptible to respiratory ailments and comorbidities, further fuels the demand for blood gas monitors.
Some of the major players operating in the market include Abbott; EDAN Instruments, Inc.; F. Hoffmann-La Roche Ltd; Instrumentation Laboratory Company; Radiometer India; Siemens Healthcare GmbH; Thermo Fisher Scientific Inc.; TECOM Analytical Systems; IDEXX; and Medica Corporation Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product type, the laboratory blood gas analyzers category held a significant share of the market in 2021”
Based on product type, the market is segmented into pulse oximeters, point-of-care blood gas analyzers, arterial blood gas sampling kits, laboratory blood gas analyzers, and others. Amongst these, the laboratory blood gas analyzers category held a significant share of the market in 2021. This is mainly due to the growing prevalence of respiratory and metabolic disorders, as well as the increasing demand for point-of-care testing. The development of new and advanced laboratory blood gas analyzers, such as those that offer real-time monitoring and wireless connectivity, is also expected to drive the growth of the blood gas monitors market.
“Amongst end-user, the hospital segment held the majority share of the market in 2021”
Based on end-user, the blood gas monitors market has been classified into hospital, ambulatory surgical centers, diagnostic centers, and others. The hospital category is to witness higher adoption of blood gas monitors during the forecast period. Hospitals require blood gas monitors to measure the pH, oxygen, and carbon dioxide levels in the blood. Blood gas monitors are essential in diagnosing and monitoring respiratory and metabolic disorders, such as chronic obstructive pulmonary disease (COPD), asthma, and kidney failure. As the demand for diagnostic services increases, the demand for blood gas monitors also increases.
“Europe expected to grow at a highest CAGR during the forecast period”
Europe expected to grow at a highest CAGR during the forecast. The market in Europe is characterized by stringent regulatory frameworks and standards, ensuring the safety, accuracy, and quality of blood gas monitors. Also, countries in Europe focus on delivering quality healthcare services, and blood gas monitors play a vital role in optimizing patient care. Hospitals, diagnostic laboratories, and clinics are key end users in the region. In addition, the high prevalence of respiratory diseases, such as chronic bronchitis and respiratory distress syndrome, contributes to the demand for blood gas monitors. For instance, in September 2021, according to the European Respiratory Journal, it is estimated that 49,453,852 people will have COPD with a prevalence of 9.3% by the end of 2050.
Blood Gas Monitors Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global blood gas monitors market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Blood gas monitors market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global blood gas monitors market were the three major steps undertaken to create and analyze the adoption of smart homes in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global blood gas monitor’s market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the blood gas monitors market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the blood gas monitors market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, type, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the blood gas monitors market. Further, we conducted factor analysis using dependent and independent variables such as product type, type, and end-user of the blood gas monitors market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the blood gas monitors market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global blood gas monitors market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the blood gas monitors market across the major markets domestically.
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global blood gas monitors market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global blood gas monitors market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product type, type, and end-user in the global blood gas monitors market.
The main objective of the Global Blood gas monitors market Study
The current & future market trends of the global blood gas monitors market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the blood gas monitors market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the product type, type, and end-user
- Define and analysis of the regulatory framework for the smart home industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the blood gas monitors market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the blood gas monitors market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry
Related Reports
Customers who bought this item also bought
Antibiotic Resistance Market: Current Analysis and Forecast (2024-2032)
Emphasis on Disease Type (Urinary Tract Infections, Intra-Abdominal Infections, Blood Stream Infections, Clostridium Difficile Infections, And Others); Pathogen Type (Acinetobacter baumannii, Pseudomonas aeruginosa, Staphylococcus aureus, Streptococcus pneumoniae, and Others); Drug Class (Oxazolidinones, Lipoglycopeptides, Tetracyclines, and Others); and Region/Country
October 8, 2024
