North America Arterial Blood Gas Kits Market to Grow at a CAGR of 8.0% to reach US$ 302.7 Million Million from 2021 to 2028
The arterial blood gas kits market in North America is expected to grow from US$ 176.3 million in 2021 to US$ 302.7 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028
Huge population suffers from various types of respiratory diseases across the world. Smoking, infections, and genetic factors can cause serious respiratory complications. Chronic obstructive pulmonary disease (COPD), asthma, and pneumonia are a few medical conditions exerting a huge burden on the public healthcare system in various countries worldwide. The American Lung Association reported that COPD is the third leading cause of death in the US, where over 16.4 million people are diagnosed with the condition. Furthermore, according to the US Department of Health and Human Services, around 25 million people in the US had asthma in 2019, which is one of the most common respiratory diseases in the world. As per the World Health Organization (WHO), globally pneumonia accounted for 15% of the total deaths of children below the age of 5 years in 2017, which reporting 808,694 deaths. Patients suffering from respiratory disorders usually experience trouble in breathing and oxygen shortage. Arterial blood gas (ABG) test is carried out to measure the amount of oxygen and carbon dioxide dissolved in arterial blood. The test helps in delivering care to patients suffering from acute and chronic respiratory disease. Thus, the growing prevalence of acute and chronic respiratory diseases propels the demand for arterial blood gas kits.
COVID-19 pandemic has served vital growth opportunities for the arterial blood gas kits market. The market has experienced exponential growth during the pandemic due to tremendous demand for oxygen level testing through arterial blood gas kits. North America is the leading market that has significantly contributed to the growth of the market. There have been various factors, including increased incidences of COVID-19 positive patients, growth in arterial blood gas kits technologies, increasing production of kits, and many other factors. The cases majorly led to the demand for arterial blood gas kits testing in the countries like the US, Canada, and Mexico. Similarly, other countries have experienced a rise in the incidences of COVID-19 positive, which have demanded arterial blood gas kits testing. The other major factor that has driven the market’s growth is developments for arterial blood gas kits. Besides various product approvals are gaining traction in the market. For instance, in July 2017, Teleflex Incorporated has received U.S. Food and Drug Administration (FDA) approval for Arrow Seldinger Arterial Catheterization Device which can be used for arterial blood gas estimation. Besides, the FDA has increased its efforts to support the health of people and has imposed several guidelines and for hospitals and medical device companies. Various companies also enhanced their research and development activities for diagnostics tests and therapeutic devices. Thus, increased production by the companies has resulted in profits, and the outbreak of COVID-19 has shown a positive impact on market growth.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the arterial blood gas kits market. The North America arterial blood gas kits market is expected to grow at a good CAGR during the forecast period.
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North America Arterial Blood Gas Kits Market Segmentation
By Product
- 1 mL (Syringe Volume)
- 3 mL (Syringe Volume)
- Others
By End User
- Hospitals
- Clinics
- Others
By Country
- North America
- US
- Canada
- Mexico
Companies Mentioned
- Becton Dickinson and Company
- Radiometer Medical ApS
- Smiths Medical
- Vyaire Medical
- Opti Medical Systems, Inc.
- Westmed Medical
- Siemens Healthineers AG
- ITL Biomedical
- i-SENS, Inc.
- Teleflex Incorporated
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Arterial Blood Gas Kits Market – By Product
1.3.2 Arterial Blood Gas Kits Market – By End User
1.3.3 North America Arterial Blood Gas Kits Market – By Country
2. North America Arterial Blood Gas Kits Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Arterial Blood Gas Kits Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Arterial Blood Gas Kits Market- North America PEST Analysis
4.3 Expert Opinion
5. North America Arterial Blood Gas Kits Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Prevalence of Respiratory Diseases
5.1.2 Growing Prevalence of Metabolic and Kidney Diseases
5.2 Market Restraints
5.2.1 Risks, Complications, and Sampling Errors Associated with Arterial Blood Sampling
5.3 Market Opportunities
5.3.1 Growing Geriatric Population
5.4 Future Trends
5.4.1 Strategic Developments by Manufacturers
5.5 Impact Analysis
6. Arterial Blood Gas Kits Market – North America Analysis
6.1 North America Arterial Blood Gas Kits Market Revenue Forecasts and Analysis
7. North America Arterial Blood Gas Kits Market Analysis and Forecasts To 2028 – By Product
7.1 Overview
7.2 Arterial Blood Gas Kits Market Revenue Share, by Product (2021 and 2028)
7.3 1ml (Syringe Volume)
7.3.1 Overview
7.3.2 1ml (Syringe Volume): Arterial Blood Gas Kits Market – Revenue and Forecast to 2028 (US$ Million)
7.4 3ml (Syringe Volume)
7.4.1 Overview
7.4.2 3ml (Syringe Volume): Arterial Blood Gas Kits Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Arterial Blood Gas Kits Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Arterial Blood Gas Kits Market Analysis and Forecasts to 2028– By End User
8.1 Overview
8.2 Arterial Blood Gas Kits Market Revenue Share, by End User (2021 and 2028)
8.3 Hospitals
8.3.1 Overview
8.3.2 Hospitals: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
8.4 Clinics
8.4.1 Overview
8.4.2 Clinics: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
9. Arterial Blood Gas Kits Market Revenue and Forecasts to 2028 – Geographical Analysis
9.1 North America: Arterial Blood Gas Kits Market
9.1.1 Overview
9.1.2 North America: Arterial Blood Gas Kits Market, by Country, 2021& 2028 (%)
9.1.2.1 US: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
9.1.2.1.1 US: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
9.1.2.1.2 US: Arterial Blood Gas Kits Market, by Product- Revenue and Forecast to 2028 (USD Million)
9.1.2.1.3 US: Arterial Blood Gas Kits Market, by End User- Revenue and Forecast to 2028 (USD Million)
9.1.2.2 Canada: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
9.1.2.2.1 Canada: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
9.1.2.2.2 Canada: Arterial Blood Gas Kits Market, by Product- Revenue and Forecast to 2028 (USD Million)
9.1.2.2.3 Canada: Arterial Blood Gas Kits Market, by End User- Revenue and Forecast to 2028 (USD Million)
9.1.2.3 Mexico: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
9.1.2.3.1 Mexico: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
9.1.2.3.2 Mexico: Arterial Blood Gas Kits Market, by Product- Revenue and Forecast to 2028 (USD Million)
9.1.2.3.3 Mexico: Arterial Blood Gas Kits Market, by End User- Revenue and Forecast to 2028 (USD Million)
10. Impact Of COVID-19 Pandemic on North America Arterial Blood Gas Kits Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. Company Profiles
12.1 BD
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Radiometer Medical ApS
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Smiths Group plc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 VYAIRE MEDICAL, INC.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Opti Medical Systems
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Westmed Medical
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Siemens Healthineers AG
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 ITL BioMedical
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Teleflex Incorporated
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 i-SENS, Inc.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About the Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. US Arterial Blood Gas Kits Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 2. US Arterial Blood Gas Kits Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 3. Canada Arterial Blood Gas Kits Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 4. Canada Arterial Blood Gas Kits Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 5. Mexico Arterial Blood Gas Kits Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 6. Mexico Arterial Blood Gas Kits Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 7. Organic Developments Done by Companies
Table 8. Inorganic Developments Done by Companies
Table 9. Glossary of Terms, Arterial Blood Gas Kits Market
LIST OF FIGURES
Figure 1. Arterial Blood Gas Kits Market Segmentation
Figure 2. North America Arterial Blood Gas Kits Market Overview
Figure 3. 3ml (Syringe Volume) Segment Held Largest Share of Product in Arterial Blood Gas Kits Market
Figure 4. US is Expected to Show Remarkable Growth During the Forecast Period
Figure 5. Arterial Blood Gas Kits Market - North America PEST Analysis
Figure 6. Arterial Blood Gas Kits Market Impact Analysis of Driver and Restraints
Figure 7. North America Arterial Blood Gas Kits Market – Revenue Forecasts and Analysis – 2021- 2028
Figure 8. Arterial Blood Gas Kits Market Revenue Share, by Product (2021 and 2028)
Figure 9. 1ml (Syringe Volume): Arterial Blood Gas Kits Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. 3ml (Syringe Volume): Arterial Blood Gas Kits Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. Others: Arterial Blood Gas Kits Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Arterial Blood Gas Kits Market Share, by End User, 2021 and 2028 (%)
Figure 13. Hospitals: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
Figure 14. Clinics: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
Figure 15. Others: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
Figure 16. North America: Arterial Blood Gas Kits Market, by Key Country – Revenue (2021) (USD Million)
Figure 17. North America: Arterial Blood Gas Kits Market, by Country, 2021& 2028 (%)
Figure 18. US: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
Figure 19. Canada: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
Figure 20. Mexico: Arterial Blood Gas Kits Market– Revenue and Forecast to 2028 (USD Million)
Figure 21. Impact of COVID-19 Pandemic in North American Country Markets
Figure 22. Growth Strategies Done by the Companies in the Market, (%)
- Becton Dickinson and Company
- Radiometer Medical ApS
- Smiths Medical
- Vyaire Medical
- Opti Medical Systems, Inc.
- Westmed Medical
- Siemens Healthineers AG
- ITL Biomedical
- i-SENS, Inc.
- Teleflex Incorporated
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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