Electrolytes help in the functioning of cells and allow proper functioning of the body. Electrolytes play a vital role in the physiological functioning of the body such as help in generating energy and contract muscles. The rise in electrolyte disorders owing to electrolyte imbalance in the body such as hypercalcemia, hypocalcemia, hyperchloremia, hypochloremia are also fueling the demand for electrolyte reagents for diagnosis of several disorders. Furthermore, electrolyte reagents are used in the determination of sodium, potassium, and chloride concentration in human serum, plasma and urine that is positively influencing the growth of electrolyte reagents market in the near future. Moreover, electrolyte reagents also help in the diagnosis and treatment of aldosteronism, diabetic insipidus, adrenal hypertension, Addison’s disease, and dehydration which are boosting the growth of the electrolyte reagents market. Growing demand for the efficient and proper testing tools and reagents for chronic disorders diagnosis flourish the growth of the electrolyte reagents market.
Growing geriatric population, rise in urbanization, increasing healthcare expenditure, utilization of technologically advanced diagnostic devices is some of the other factors that drive the growth of the electrolyte reagents market. The growing number of physical disorders due to the reduction of electrolytes in the human body are also favoring the demand for the Electrolyte Reagents for diagnostic testing. For instance, electrolyte reagents can use in cardiac arrests, muscle weakness, cramps, paralysis, hypokalemia, bone disorders, twitching, seizures, and nervous system disorders testing. Moreover, Research and developments activities in the medical and life science sector are triggering the growth of the electrolyte reagents market. However, volatility and fluctuations in the pricing of electrolyte reagents, lack of availability of skilled professionals, stringent rules are the factors hampering the electrolyte reagents market growth.
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The global electrolyte reagents market is classified on the basis of product type, application, end user and region.
Based on product type, electrolyte reagents market is segmented into the following:
- Chloride Electrolyte Reagent
- Magnesium Electrolyte Reagent
- Phosphorus Electrolyte Reagent
- Potassium Electrolyte Reagent
- Calcium Electrolyte Reagent
- Lithium Electrolyte Reagent
Based on diagnostic application, electrolyte reagents market is segmented into the following:
- Bone Diseases
- Renal Diseases
- Metabolic Disorders
- Bipolar Disorders
- Hyperkalemia & Hypokalemia
Based on end user, electrolyte reagents market is segmented into the following:
- Diagnostic Laboratories
- Academic Institutes & Research Centers
- Specialty Clinics
Globally the electrolyte reagents market is expected to experience huge market growth. Common electrolytes include sodium, potassium, and calcium. Researchers use electrolyte reagents formulations and technologies for the quantitative determination of substrates in human serum, plasma, or urine. The high demand for electrolyte reagents for research and diagnostic applications is positively influencing growth of the electrolyte reagents market growth. Moreover, the introduction of new solutions by manufactures in their product line are boosting the market growth during the forecast period.
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Geographically, the electrolyte reagents market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is expected to dominate the electrolyte reagents market owing to the rise in technological advancements and research & development activities. Europe expected to contribute the second-highest revenue share in the global electrolyte reagents market. The Asia Pacific is expected to grow with a prominent high rate as increasing government funding for improvement of diagnostic laboratories to reduce chronic disease burden. China & India are expected to grow at a higher pace as growing healthcare expenditure and increasing R&D activities in the healthcare sector.
Some of the key payers of the electrolyte reagents market are Mitasabishi chemical, Randox Laboratories, Merck Group (Sigma-Aldrich Corporation), Nova-Tech International, Inc., EKF Diagnostics USA (Stanbio Laboratory), Beckmann Coulter Inc. (Danaher Corporation), Abbott Laboratories, F. Hoffmann-la Roche Ltd, Ortho clinical diagnostics Inc., Siemens AG and others.
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