The blood gas analyzers market size in Europe is predicted to grow from USD 239.5 million in 2023 to USD 321.4 million by 2028, growing at a CAGR of 6.06% from 2023 to 2028.
The rising prevalence of diabetes across Europe primarily drives the growth of the European blood gas analyzers market. With approximately 60 million individuals affected by diabetes in Europe, lifestyle changes, excessive alcohol and soft drink consumption and inadequate nutrient intake contribute to the rising incidence of diabetes. Diabetic ketoacidosis, a serious complication observed in diabetic patients, occurs when the body fails to produce sufficient insulin. Insulin plays a crucial role in maintaining the body's energy production for muscles and tissues. To diagnose and monitor diabetic ketoacidosis, healthcare professionals rely on arterial blood gas analyzers, which enable the analysis of various blood components including blood gas and pH levels. These advanced devices provide accurate and timely measurements from whole blood samples, facilitating effective management of diabetic conditions.
The growing demand for point-of-care automated blood gas analyzers in Europe further boosts the growth rate of the European market. These advanced analyzers offer the convenience of conducting blood gas testing at the point of care using a small venous blood sample. They provide valuable insights into oxygenation levels, acid-base balance and other critical parameters in the sample. Furthermore, these analyzers facilitate additional tests such as glucose monitoring for evaluating blood sugar concentrations, assessment of electrolyte imbalances, and assessment of kidney function. They also play a vital role in detecting medication overdoses, which can have severe implications for patient safety and well-being. The adoption of point-of-care automated blood gas analyzers in healthcare settings ensures timely and accurate diagnostic information, enabling healthcare professionals to make informed treatment decisions.
The growing manufacturing activities of advanced blood gas analyzers in Europe propel the regional market growth. Manufacturers are dedicated to developing devices with advanced technology to enhance the accuracy of blood gas tests. This includes the utilization of sensors in the analyzers to indicate specific value limits. There is a focus on the development of portable blood gas analyzers to support convenient and efficient treatment procedures. The ongoing research and development activities, product approvals and the backing of government and private organizations in Europe contribute to the growth of the European blood gas analyzers market.
The high costs associated with the advanced blood gas analyzers is one of the key factors hampering the European market growth. The availability of refurbished products, long-time approval for the blood gas analyzers, strict rules and regulations, use of non-approval products and lack of skilled professionals further hinder the regional market growth.
This research report on the Europe blood gas analyzers market has been segmented and sub-segmented into the following categories.
By Product:
By End-Use:
By Country:
The European blood gas analyzers market accounted for a considerable share of the global market in 2022 and is anticipated to hold a promising occupancy in the worldwide market during the forecast period owing to factors such as the increasing utilization of advanced point-of-care devices, a growing geriatric population, growing healthcare expenditure, growing number of product launches and increasing awareness programs in Europe. Germany contributes significantly to Europe and holds the leading share of the European market during the forecast period owing to the rapid adoption of blood gas analyzers for predicting mortality among Covid-19 patients and optimizing ventilatory settings for improved treatment outcomes. The UK market is projected to witness a healthy CAGR during the forecast period owing to the presence of manufacturing facilities, widespread adoption of blood gas analyzers in hospitals and advanced infrastructure. The ongoing clinical trials and the availability of point-of-care devices in the UK further boost the growth rate of the UK market.
KEY MARKET PLAYERS:
Siemens Healthineers, Radiometer Medical, Roche Diagnostics, Abbott Laboratories and Nova Biomedical are a few of the leading players in the European blood gas analyzers market.
Frequently Asked Questions
Siemens Healthineers, Radiometer Medical, Roche Diagnostics, Abbott Laboratories and Nova Biomedical are a few of the leading players in the European blood gas analyzers market.
The growth rate of the europe blood gas analyzers market is 6.06% during the forecast period.
The europe blood gas analyzers market size is projected to reach USD 321.4 billion by 2028.
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