Blood Gas Monitoring Market Size
The Global Blood Gas Monitoring Market reached US$ 2.24 billion in 2023 and is expected to reach US$ 3.12 billion by 2031, growing at a CAGR of 4.3% during the forecast period 2024-2031.
Blood gas monitoring devices are utilized to measure the blood's pH, carbon dioxide (CO2), and oxygen (O2). The diagnosis and treatment of numerous illnesses, including heart disease, metabolic abnormalities, and respiratory issues, depend on this knowledge. Blood gas levels are measured using point-of-care blood gas monitors and blood gas analyzers.
Devices for measuring blood gas are vital for both controlling and diagnosing a wide range of illnesses. They can assist in making sure patients get the care they require to become better. It aids in the diagnosis of ailments like as asthma, chronic obstructive pulmonary disease (COPD), pneumonia, and more. Blood gas monitoring can be crucial in evaluating heart failure, a condition where the heart struggles to pump blood effectively.
Market Scope
| Metrics | Details |
| CAGR | 4.3% |
| Market Size Available for Years | 2023-2031 |
| Estimation Forecast Period | 2024-2031 |
| Revenue Units | Value (US$ Mn) |
| Segments Covered | Product, Type, End-user |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Largest Region | North America |
| Fastest Growing Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics: Drivers & Restraints
Rising approvals of the blood gas monitors
The increased launches of advanced devices and the approvals boost the market growth. The market is being driven by factors such as increasing cardiovascular diseases, increasing respiratory problems and also it is being driven by the introduction of new devices that are easily accessible. The increasing approvals of the devices are raising the market growth.
For instance, on August 30, 2023, LivaNova PLC received U.S. Food and Drug Administration (FDA) 510(k) clearance and CE Mark for its Essenz In-Line Blood Monitor (ILBM), which provides accurate and continuous measurement of essential blood parameters to perfusionists through cardiopulmonary bypass (CPB) procedures.
Additionally, on April 21, 2021, LivaNova PLC received U.S. FDA 510(k) clearance for B-Capta, the in-line, blood-gas monitoring system integrated into the S5 heart-lung machine (HLM). Thus, the increasing approvals of the products enhance the market growth by making the devices available for the patients.
Increasing Prevalence of Chronic Diseases
The rising incidence of chronic diseases, such as cardiovascular conditions, respiratory disorders, and diabetes, is a significant driver for the blood gas monitoring market. According to the National Heart, Lung, and Blood Institute, approximately 1.26 million new and recurrent coronary attacks occur annually in the U.S., underscoring the need for effective monitoring solutions in critical care settings. Blood gas analyzers play a crucial role in the rapid assessment and management of these conditions, allowing healthcare providers to make timely decisions that can improve patient outcomes.
For instance, the Siemens RAPIDPoint 500e, approved by the FDA in March 2020, is designed specifically for critical care environments. It provides quick results on multiple parameters from a single sample, facilitating immediate clinical interventions. The increasing demand for automated and point-of-care blood gas analyzers is driven by the need for rapid diagnostics in emergency departments and intensive care units.
High cost of the devices
The high cost of blood gas monitoring devices is expected to hamper the market growth. Blood gas analyzers can be costly, especially the high-tech benchtop versions that are used in hospitals. In environments with limited resources, the devices are less accessible to healthcare professionals and smaller clinics.
Market Segment Analysis
The global blood gas monitoring market is segmented based on product, type, end-user and region.
Pulse Oximeters segment is expected to dominate the market growth
Pulse oximetry is a noninvasive method for monitoring a person's blood oxygen saturation. Pulse oximeters provide an estimation of the arterial oxygen saturation, that is the percentage of hemoglobin binding sites occupied by oxygen, which, in turn, is a function of the arterial oxygen pressure/tension (PaO2), as defined by the hemoglobin-oxygen dissociation curve.
The increase in the demand and increase in the number of launches of pulse oximeters are expected to hold the segment in the dominant position. For instance, on February 13, 2024, Masimo received FDA clearance for MightySat Medical, making it the first and only FDA-cleared medical fingertip pulse oximeter available Over-The-Counter (OTC) directly to consumers without a prescription.
Furthermore, in July 2022, DetelPro, the health and hygiene vertical of Detel launched its oximeter under the brand name, Oxy10. Thus, the above factors are expected to hold the segment in the dominant position.
Market Geographical Share
North America is expected to hold a significant position in Blood Gas Monitoring market share
North America is expected to hold a dominant position in the market share this is due to the well-established healthcare infrastructure with a high concentration of hospitals, clinics, and specialized centers and also the increasing burden of chronic diseases like diabetes, heart disease, and respiratory illnesses. These diseases often require the monitoring of blood gas which increases the demand for blood gas monitoring.
For instance, according to the American Diabetes Association in 2021, it is estimated that about 38.4 million Americans, which is almost 11.6% of the population, had diabetes. 2 million Americans have type 1 diabetes, including about 304,000 children and adolescents.
Additionally, in 2021, about 15.6 million adults were diagnosed with COPD and approximately, 33.8 million adults were diagnosed with chronic lung disease. Thus, an increase in chronic diseases is expected to increase the need and demand for blood gas monitoring. Thus, the above factors are expected to hold the region in the dominant position.
COVID-19 Impact Analysis
COVID-19 has a positive impact on the market growth. The market was stimulated by the increased need for blood gas monitoring equipment in clinics and hospitals. Point-of-care blood gas monitors have grown in value because of their portability and speedy results delivery, which help COVID-19 patients make timely treatment decisions. However, lockdowns and travel restrictions caused delays in the production and delivery of medical supplies, notably blood gas monitors, which resulted in a shortage of equipment in some areas. Thus, the pandemic has a moderate impact on the market.
Competitive Landscape
The major global players in the market include Siemens Healthineers AG, F. Hoffmann-La Roche Ltd, Nova Biomedical, Werfen, OPTI Medical Systems, Medica Corporation, Quicklab Services Private Limited, HDC India, Radiometer Medical, and Convergent Technologies among others.
Terumo Corporation- Overview
- Terumo is a global leader in medical technology and has been committed to
"Contributing to Society through Healthcare" for 100 years. - The company’s extensive business portfolio ranges from vascular intervention and
cardio-surgical solutions, blood transfusion, and cell therapy technology, to medical
products essential for daily clinical practice such as transfusion systems, diabetes
care, and peritoneal dialysis treatments. - The company pursues reliable quality and technology to contribute to healthcare in
more than 160 countries and regions around the globe.
It employs more than 30,000 associates worldwide to provide innovative medical
solutions in more than 160 countries and regions. - Terumo Group includes three companies that operate in over 160 countries and
regions around the world, providing patients, a variety of medical settings, and the
pharmaceutical industry with over 50,000 products and services.
The company received the prestigious Prime Minister’s Award out of the “5th Japan - Medical Research and Development Awards” together with Shinhiro Takeda, a non-
profit organization, for the “R&D, practical application and dissemination of ECMO.”
Why Purchase the Report?
- To visualize the global blood gas monitoring market segmentation based on product, type, end-user and region as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of blood gas monitoring market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global blood gas monitoring market report would provide approximately 53 tables, 47 figures and 176 pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
