Summarization of the POC Blood Gas and Electrolyte, including the initiatives undertaken by the organizations for its improvisation

Point of Care (POC) blood gas testing inculcates various tests that use a small venous blood sample. The test menus include TCO2, HCO3, PCO2, SO2, and PH. It provides immediate results in minutes. The blood gas measurements are used to evaluate an individual's acid/base status and oxygenation.

In 2020, the Global POC Blood Gas and Electrolyte Market share accounted for up to US$1.95 Bn. It is predicted to reach approximately US$3.6 Bn by 2028, with a steady CAGR of 7.89% throughout the time frame of 2020-2028. 

Increased growth of cancer and other chronic illnesses are the major reasons responsible for the augmentation of this market across the globe. As per the American Institute of Cancer Research, there were approximately 18.1 Mn cancer cases worldwide in 2020. Out of these, 9.3 Mn cases were in men & around 8.8 Mn cases were discovered in women.

North America comprehensively led the market growth with an overall share of around 41.79 % of the entire market worldwide in 2020. With the large patient population suffering from chronic diseases such as diabetes, liver, and kidney diseases, along with the rising government support for R&D activities, the market in the North American region is expected to generate ample business opportunities for the vendors during the forecasted period. As per CDC, diabetes affected almost 30.3 Mn individuals in the United States in 2015.

The European Union held the second-largest market share, followed by the Asia Pacific. The rapidly growing diabetic & obese population is resulting in growing healthcare costs, which is highly boosting the growth of the Asia Pacific Market. The World Health Organization stated that around 60% of the diabetes population across the world resides in the Asia-Pacific region. 

Canada & Japan constitute the two other critical geographic markets, with forecasted growth rates of around 4.1% & 4.3%, respectively, over the estimated period of time. Moreover, Germany is expected to progress at a CAGR of around 4.7% in the European Union. 

The key players existing in the POC Blood Gas and Electrolyte industry include Bayer, Fortress Diagnostics, Edan Instruments, Nova Biomedical, Erba Diagnostics, Medica, Radiometer, JOKOH, F. Hoffmann-La Roche, Abbott, Life Health, Instrumentation Laboratory, Cornley, Convergent Technologies, etc.

• Medica Corporation announced the launching of its Easy Blood Gas analyzer to adequately address the laboratory's requirements and to economically deliver accurate sample results. It delivers the blood sample results at a lower cost, thus making it much more affordable for all patients worldwide and also to get accurate results.
• Abbott launched its CHOLESTECH LDX ANALYZER to provide highly accurate and readily accessible results in the point-of-care lipid profile, glucose, and cholesterol testing. This, in turn, helps the surgeons deal with the patient's problems accurately.

CONCLUSION

The sheer focus of the reputed organizations on the development of highly advanced technologies on POC Blood Gas and electrolytes will yield ample growth opportunities in the future and deal with oncology and chronic illnesses efficiently.