PUBLISHER: Allied Market Research | PRODUCT CODE: 1365811
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365811
The fully automatic electrolyte analyzers market is likely to experience a significant growth rate of 5.7% from 2023-2032 owing to rise in demand from medical device industry- Allied Market Research
The fully automatic electrolyte analyzers market growth is driven by increase in need for modern healthcare technology, rise in trend towards decentralized medical care, and surge in prevalence of long-term illnesses such as diabetes, coronary artery disease, and hypertension. Long-term illnesses such as hypertension cause electrolyte imbalances in the body due to loss of sodium and potassium ions. Therefore, fully automated electrolyte analyzers are used to offer convenient methods for healthcare professionals to manage electrolyte balances in patients suffering from hypertension. For instance, in 2020, Pan American Health Organization (PAHO), estimated that hypertension affects more than 30% of the adult population across the globe. As the prevalence of chronic disease is rising, there is a greater need for fully automated electrolyte analyzers which is the key factor driving the growth of the market.
Furthermore, technological advancement in fully automated electrolyte analyzers has significantly improved the accuracy and precision of electrolyte measurements and contributed towards market growth. For instance, Cobas b 221 system is a fully automated benchtop analyzer which offers individually adjustable parameter configurations. In addition, this system can be operated in hospitals and laboratories, as well as in point-of-care testing. Availability of such technologically advanced automated electrolyte analyzers further contribute towards the market growth.
In addition, the medical facilities in India represent a complex scenario as the country has most diverse population in the world with limited healthcare resources. Therefore, the utility of point-of-care diagnostic devices are uplifting the healthcare status in India. Therefore, the increase in demand for point of care testing further propels the market growth of fully automatic electrolyte analyzers.
However, the excessive cost of fully automatic electrolyte analyzers as compared with semi-automated or manual analyzers negatively impacts the market growth. High cost of automatic electrolyte analyzers as well as ongoing maintenance and reagent expenses, raise the overall cost and limit their adoption in healthcare facilities, especially in smaller clinics or laboratories with limited budgets.
On the other hand, increase in demand for portable automatic electrolyte analyzers for preventive care and diverse parameters testing through integrated automatic electrodes are expected to create immense opportunities for the growth of fully automatic electrolyte analyzers market during the forecast period. The fully automatic electrolyte analyzers market is segmented on the basis of type, modality, end user, and region. On the basis of type, the market is classified into standalone and integrated.
On the basis of modality, the market is bifurcated into benchtop and portable. As per end user, the market is divided into hospitals, diagnostic centers, and others. Others segment includes clinics, homecare settings, and ambulatory surgical centers. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global fully automatic electrolyte analyzers market are Accurex Biomedical Pvt. Ltd., Medica Corporation, F. Hoffmann-La Roche Ltd., Abbott Laboratories, Caretium Medical Instruments Co., Diamond Diagnostics, Neomedica, Agappe Diagnostics Ltd, Siemens AG, and HD Consortium India Limited.
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