Blood Gas Monitors Market: Current Analysis and Forecast (2022-2030)

The blood gas monitor market refers to the industry encompassing the production, distribution, and utilization of devices designed to measure and analyze various parameters in a patient's blood, including pH, partial pressure of oxygen (pO2), partial pressure of carbon dioxide (pCO2), electrolytes, and other related parameters. Blood gas monitors play a crucial role in assessing respiratory and metabolic status, aiding in the diagnosis, treatment, and monitoring of patients with critical conditions such as respiratory distress, acid-base imbalances, and certain chronic diseases.

The blood gas monitors market is expected to grow at a steady rate of around 5% owing to the growing demand for non-invasive blood gas monitoring and increasing adoption of integrated healthcare systems. In addition, the growth factors for this segment are the rising geriatric population, increasing cancer in developed countries, cardiovascular diseases, chronic diseases, etc. will drive the growth of this market. For instance, according to the American Heart Association (AHA), nearly half of adults in the U.S. have some type of CVD. By 2035, it is projected that more than 135 million adults, or 45.1% of the U.S. population are projected to have some form of CVD.

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. The point-of-care blood gas analyzers category to witness higher CAGR during the forecast period owing to the point-of-care blood gas analyzers offer a high level of accuracy and precision, which is essential for critical care patients. Furthermore, with point-of-care analyzers, healthcare professionals can obtain immediate results without having to send samples to a central laboratory. This can significantly reduce turnaround times and improve patient outcomes which will drive the growth of the market.

On the basis of type, the market is categorized into portable type and desktop type. Among these, the portable type held a significant share in the market in 2021. This is mainly due to portable blood gas monitors are designed with user-friendly interfaces, making them easy to operate and interpret results. This has increased their adoption and demand, especially in resource-limited settings where access to laboratory-based blood gas analysis is limited.

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 are the primary users of blood gas monitors, and they drive the demand for these devices. As the demand for healthcare services increases, the demand for blood gas monitors also increases. Moreover, hospitals are constantly looking for ways to improve patient care and outcomes. Blood gas monitors provide real-time information that can help healthcare professionals make informed decisions about patient care which will further propel the growth of the segment.

For a better understanding of the market adoption of the blood gas monitors industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. this is mainly due tothe rising incidence of chronic respiratory conditions, such as COPD and asthma, drives the demand for blood gas monitors. Additionally, the region's aging population contributes to the increasing need for respiratory monitoring and management. Also, the rising awareness of early diagnosis, disease management, and personalized treatment fuels the market growth in the region.

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.