global arterial blood gas kits market is expected to reach US$ 773.01 million in 2028 from US$ 455.84 million in 2021 growing at a CAGR of 7.8% from 2021-2028.
Key factors that are driving growth of the market are increasing prevalence of respiratory diseases and growing prevalence of metabolic and kidney diseases fuel the growth of the market. However, risks, complications, and sampling errors associated with arterial blood sampling is expected to restrict the market growth during the forecast period
Arterial blood gas test can detect an acid–base imbalance that can cause kidney failure; heart failure; and metabolic diseases, such as diabetes. Thus, the test is prescribed to people suffering from metabolic diseases and kidney diseases.
As per the report, ’Global and regional diabetes prevalence estimate for 2019 and projections for 2030 and 2045’, in 2019, the prevalence of diabetes is estimated to be 9.3% (463 million) across the globe, rising to 10.2% (578 million) and 10.9% (700 million) by 2030 and 2045, respectively. Further, as per the National Kidney Foundation, an estimated 37 million people in the US suffer from chronic kidney disease (CKD), which is 15% of the adult population. It also mentioned that, in 2018, around 785,883 Americans were suffering from kidney failure and needed dialysis or a kidney transplant to survive. Additionally, as per Kidney Care UK, the UK records around 20 cases of kidney failure daily. It also mentioned that, every year, the country records around 40–45,000 premature deaths due to the CKD.
Such high prevalence of metabolic and kidney diseases boosts the demand for arterial blood gas tests, which drives the growth of the arterial blood gas kits market.
Based on product type, the arterial blood gas kits market is segmented into 1ml (syringe volume), 3ml (syringe volume), and others. The 3ml (syringe volume) segment is likely to hold largest share of the market in 2021, also the same segment is anticipated to register the highest CAGR of 8.2% in the market during the forecast period.
Based on the end user, the arterial blood gas kits market is segmented into hospitals, clinics, and others. In 2021, hospitals segment is likely to hold largest share of the market whereas clinics segment is estimated to register the highest CAGR of 8.4% in the market during the forecast period.
Central Drugs Standard Control Organization, Commission for Protection against Health Risks, Contract Research Organizations, and Drug Safety and Effectiveness Network are among the major secondary sources referred to while preparing the report on the arterial blood gas kits market.