The Southeast Asia blood gas and electrolyte analyzers market size is anticipated to reach USD 165.34 million by 2030 and is expected to expand at a CAGR of 4.52% during the forecast period, according to a new report. The market is driven by the rising prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and renal disorders. To manage and treat effectively, these conditions often require regular monitoring of blood gases & electrolytes.
The increased need for disease management is another major factor expected to fuel the demand for blood gas & electrolyte analyzers. The introduction of innovative & advanced analyzers that offer faster, more accurate, and reliable results is a major key driver. Technologies such as point-of-care devices enable real-time monitoring and decision-making, which is crucial in critical care & emergencies. These advancements encourage healthcare providers to adopt new equipment. Moreover, there is a growing awareness among the population about the importance of early disease detection and management. Hence, several health screening programs by the government and the private sector have become more prevalent. These programs often include tests that require blood gas and electrolyte analysis, increasing the demand for these analyzers.
The growing geriatric population in Southeast Asia is significantly driving the market growth. Aging leads to an increase in age-related diseases and conditions that require close monitoring & management. These conditions necessitate the use of analyzers, which measure various parameters such as pH, gases (oxygen & carbon dioxide), and electrolytes in the sample. This equipment is crucial in diagnosing and monitoring patients in critical care, respiratory care, and for those undergoing surgery. According to the Singaporean government, the geriatric population in Singapore is growing; from 2012 to 2022, the percentage of people aged 65 and over rose from 11.1% to 18.4%. It is projected that by 2030, approximately one in four citizens (23.8%) will be 65 years old or older.
Furthermore, with the expansion of healthcare facilities, mainly in rural and remote areas, there is a growing demand for advanced medical equipment. New hospitals and clinics need the latest diagnostic technologies to provide high-quality care, driving the demand for blood gas and electrolyte analyzers. Regulatory bodies and governments conduct awareness programs and provide training for healthcare professionals on the latest medical technologies. This helps increase the adoption of new devices as healthcare providers become more knowledgeable about the benefits and usage of blood gas & electrolyte analyzers.
Key players operating in the market are constantly focusing on the development of novel technologies to meet the rising demand for patient monitoring services in the market. For instance, in July 2022, EDAN Instruments, Inc. launched the company's first POC fluorescence-based CO-OX blood gas & chemistry analyzer, i20, at the Annual Scientific Meeting. The system includes over 45 parameters, covering blood gases, electrolytes, and CO-oximetry. Moreover, in April 2021, Siemens Healthineers launched the epoc Blood Analysis System, a wireless, handheld solution with complete blood gas, metabolic panel, lactate, & hematocrit on a single-room temperature-stable test card.
The increased need for disease management is another major factor expected to fuel the demand for blood gas & electrolyte analyzers. The introduction of innovative & advanced analyzers that offer faster, more accurate, and reliable results is a major key driver. Technologies such as point-of-care devices enable real-time monitoring and decision-making, which is crucial in critical care & emergencies. These advancements encourage healthcare providers to adopt new equipment. Moreover, there is a growing awareness among the population about the importance of early disease detection and management. Hence, several health screening programs by the government and the private sector have become more prevalent. These programs often include tests that require blood gas and electrolyte analysis, increasing the demand for these analyzers.
The growing geriatric population in Southeast Asia is significantly driving the market growth. Aging leads to an increase in age-related diseases and conditions that require close monitoring & management. These conditions necessitate the use of analyzers, which measure various parameters such as pH, gases (oxygen & carbon dioxide), and electrolytes in the sample. This equipment is crucial in diagnosing and monitoring patients in critical care, respiratory care, and for those undergoing surgery. According to the Singaporean government, the geriatric population in Singapore is growing; from 2012 to 2022, the percentage of people aged 65 and over rose from 11.1% to 18.4%. It is projected that by 2030, approximately one in four citizens (23.8%) will be 65 years old or older.
Furthermore, with the expansion of healthcare facilities, mainly in rural and remote areas, there is a growing demand for advanced medical equipment. New hospitals and clinics need the latest diagnostic technologies to provide high-quality care, driving the demand for blood gas and electrolyte analyzers. Regulatory bodies and governments conduct awareness programs and provide training for healthcare professionals on the latest medical technologies. This helps increase the adoption of new devices as healthcare providers become more knowledgeable about the benefits and usage of blood gas & electrolyte analyzers.
Key players operating in the market are constantly focusing on the development of novel technologies to meet the rising demand for patient monitoring services in the market. For instance, in July 2022, EDAN Instruments, Inc. launched the company's first POC fluorescence-based CO-OX blood gas & chemistry analyzer, i20, at the Annual Scientific Meeting. The system includes over 45 parameters, covering blood gases, electrolytes, and CO-oximetry. Moreover, in April 2021, Siemens Healthineers launched the epoc Blood Analysis System, a wireless, handheld solution with complete blood gas, metabolic panel, lactate, & hematocrit on a single-room temperature-stable test card.
Southeast Asia Blood Gas And Electrolyte Analyzers Market Report Highlights
- Consumables dominated the product segment and are anticipated to grow at the fastest CAGR over the forecast period owing to extensive R&D initiatives being undertaken by major players for the development of kits.
- Epoc dominated the brand segment attributed to the rising demand for rapid, accurate POC testing, particularly in emergency & critical care settings, and the growing need for portable, user-friendly diagnostic devices.
- Clinical laboratories end use segment dominated the market in 2023 attributed to the increasing demand for effective and efficient blood gas analyzers in the clinical laboratories setting.
- Indonesia dominated the Southeast Asia market owing to factors such as advanced healthcare infrastructure and the region's high prevalence of chronic diseases.
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Southeast Asia Blood Gas and Electrolyte Analyzers Market Variables, Trends & Scope
Chapter 4. Southeast Asia Blood Gas and Electrolyte Analyzers Market: Product Estimates & Trend Analysis
Chapter 5. Southeast Asia Blood Gas and Electrolyte Analyzers Market: Brand Estimates & Trend Analysis
Chapter 6. Southeast Asia Blood Gas and Electrolyte Analyzers Market: End Use Estimates & Trend Analysis
Chapter 7. Southeast Asia Blood Gas and Electrolyte Analyzers Market: Regional Estimates & Trend Analysis by Product Type, Sample Type, and End Use
Chapter 8. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Abbott
- Siemens Healthcare Private Limited
- Werfen
- Medica Corporation
- F. Hoffmann-La Roche Ltd.
- Quest Diagnostics Incorporated
- Nova Biomedical
- Radiometer Medical ApS
- EDAN Instruments, Inc.
- OPTI Medical Systems Inc.
- Convergent Technologies
- AFFORD MEDICAL TECHNOLOGIES PVT. LTD.
- Accurex, LLC
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 125 |
| Published | July 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 123.08 Million |
| Forecasted Market Value ( USD | $ 165.34 Million |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 13 |
