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Next Generation Blood Gas Monitors System Market : Segmented by Type (portable and bench top); By Application (Meat, poultry, and seafood products, Dairy products, Infant food products, Beverages, Bakery & confectionery products and Others); and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] Next Generation Blood Gas Monitors System Market to surpass USD 9.7 by 2030 from USD 4.8 in 2020 at a CAGR of 7.3% in the coming years, i.e., 2020-30.
Next-generation blood gas monitors are devices that measure arterial oxygen tension (pO2), carbon dioxide tension (pCO2), and acidity (pH). These values help doctors diagnose diseases like shock, drug overdose, and pulmonary disorders. The Next Generation Blood Gas Monitors are critical gadgets in the hospital's CCU and ICU units. The market for Next Generation Blood Gas Monitors has progressed from single parameter table-top devices to technologically advanced compact hand-held devices throughout time. Aside from standard blood gas monitors, next-generation monitors can also monitor glucose levels and calculate factors like the P/F ratio and temperature compensated gases. The capacity for patients to measure blood glucose and monitor blood gases directly, regularly, and readily allows for better patient management and early intervention.
Global Next Generation Blood Gas Monitors System Market is expected to project a notable CAGR of 7.3% in 2030.
Global Next Generation Blood Gas Monitors System Market to surpass USD 9.7 billion by 2030 from USD 4.8 billion in 2020 at a CAGR of 7.3% in the coming years, i.e., 2021-30. The increased rate of hospital admissions, the expanding elderly population, and the rise in the prevalence of chronic diseases are the primary drivers driving the expansion of next-generation blood gas monitors. Other factors driving the market for next-generation blood gas monitoring systems in the coming years include rising healthcare expenditures and the advancement of innovative technology.
A portable segment to grow with the highest CAGR during 2020-30
Global Next Generation Blood Gas Monitors System Market is segmented by type into portable and benchtop. The portable segment held the largest market share in the year 2020 due to features such as low maintenance, better error detection as well as consistent quality control.
Hospitals segment to grow with the highest CAGR during 2020-30
Global Next Generation Blood Gas Monitors System Market is divided by application into hospitals, clinical laboratories, cardiac centers, and others. Over the forecast period, the hospital segment is projected to expand at the fastest pace. The increased rate of hospital admissions, the expanding elderly population, and the rise in the prevalence of chronic diseases are the primary drivers driving the hospital segment.
Changing consumption pattern and government regulations
The market for next-generation blood gas monitors is characterized by trends such as the advent of technologically advanced, sleek hand-held devices with quick turnaround times. Trends such as an increase in the use of combined Next Generation Blood Gas Monitors, which analyses electrolyte parameters as well as blood gas, and manufacturers consistently focusing on developing user-friendly and automated devices that provide accurate results in a short amount of time are also changing the market scenario; these factors are expected to dominate the market.
Diseases caused by pest and rodents
The rising number of hospital admissions related to the growing elderly population and rising incidence of chronic diseases is the key driver of the worldwide blood gas Monitors market. Second, over the forecast period, the market for Next Generation Blood Gas Monitors systems would rise due to rising healthcare expenditure levels and the adoption of innovative technology.
High cost associated with the market and regulatory concerns
Stringent regulatory regulations in some countries, as well as an increase in the cost of point-of-care devices, are limiting market growth in a negative way.
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Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Next Generation Blood Gas Monitors System Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Global Next Generation Blood Gas Monitors System Market in Europe held the largest market share in the year 2020. Growing technical breakthroughs highly established healthcare infrastructure, and an increased number of market players are all contributing to market expansion in these regions. The market's growth is further aided by the increasing number of product advancements developed in this industry. The next-generation blood gas monitors that are accessible in North America and Western Europe have been found to have the ability to integrate with the hospital's EMR system, which aids in improving workflow.
Global Next Generation Blood Gas Monitors System Market is further segmented by region into:
Next Generation Blood Gas Monitors System Segments:
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