The global veterinary chemistry analyzer market is estimated to create an incremental opportunity of around US$ 2.25 Bn by the end of 2032. The demand for veterinary chemistry analyzers is expected to exceed US$ 1.2 Bn by 2022, growing at a robust CAGR of nearly 8% to 9% during the forecast period 2022-2032.
With the rising number of pet adoption, demand for healthcare maintenance of pet will remain to grow. The frequency of zoonotic diseases has led to an upsurge in the awareness of animal healthcare. Rising need for animal healthcare will continue to generate the demand for veterinary chemistry analyzer in the market worldwide.
Furthermore, a growing number of veterinary practitioners is expected to boost the sales of the veterinary chemistry analyzer in the global market for veterinary chemistry analyzers. Owing to these factors, the global veterinary chemistry analyzer market is anticipated to the observe substantial growth during the forecast period.
Rising incidences of Zoonotic Diseases to Surge the demand of veterinary chemistry analyzer
Increasing rates of the zoonotic diseases is additionally expected to generate the demand for the global market of veterinary chemistry analyzers. According to a newly published report of CDC, every year tens of thousands of American citizen get sick due to zoonotic diseases which spread between people and animals.
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- Coli infection, salmonella infection, chikungunya, malaria, and dengue are some of the severe and most common zoonotic diseases. According to the World Health Organization (WHO), in 2015, malaria results for 429,000 deaths and 212 million clinical cases.
The demand for veterinary chemical analyzers is anticipated to increase drastically due to the upsurge in need of various control measures on zoonotic diseases. Increase in the demand for cheap, convenient and rapid diagnostic test equipment is expected to boost the growth of the global market for veterinary chemistry analyzer.
Market Dynamics: Global Veterinary Chemistry Analyzer Market
High Awareness about the Medical Tests is Boosting the Demand for Veterinary Chemistry Analyzers
The high importance of conducting hematology tests has sustained to generate continuous demand for the veterinary chemistry analyzer market globally. As the necessity of delivering accurate results and exploit the testing flexibility arises, the demand for veterinary chemistry analyzer is likely to rise during the forecast period. The inclination for consuming animal-derived food is a growing trend in the food industry.
The obligation of FDA regulations in contradiction of prohibited residue and adulteration in the animal food products is further increasing the growth of the global market for veterinary chemistry analyzer during the forecast period. Owing to these factors, the veterinary chemistry analyzer demand is anticipated to grow in the worldwide market.
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Rising demand for animal protein and Veterinary Hospitals to upsurge the market growth
The growing demand for animal proteins is the principal factor in the global rise of livestock production and the increase in exports of animal products. Changing lifestyles and rising disposable income are fueling the animal-derived food products demand.
The increasing number of veterinary hospitals is another reason for the rising demand for veterinary chemistry analyzer in the global market.
Competition Landscape: Global Veterinary Chemistry Analyzers Market
Some prominent market players mainly dominate the global market. The significant factors on which the market players are competing are the quick testing and handy analyzers, advanced technology, better connectivity and faster analysis, and others. The cumulative increment in the sales of veterinary chemistry analyzers is key market driving factor.
- For Instance, regarding the report of the American Pet Products Association (APPA), the U.S. pet animal food sales are doubled to USD 22 billion from the year 2000 to the year 2014 and are anticipated to grow at a 2.5% CAGR. According to Mintel, in 2014, 79.0% of U.S. pet owners measured the quality of pet food products as an essential aspect as their own.
Prominent market players operating in the global market of veterinary chemistry analyzer consists of Abaxis, Inc., Arkray, Inc., Alfa Wassermann, Inc., , Chengdu Seamaty Technology Co., Ltd., Biochemical Systems International Srl, Elitechgroup, Diasys Diagnostic Systems GmbH, Eurolyser Diagnostica GmbH, Idexx Laboratories, Inc., Heska Corporation, and Randox Laboratories Ltd.
Regional Outlook: Global Veterinary Chemistry Analyzers Market
The huge share of the regional market is driven by cumulative demand for animal food products, increasing healthcare expenditure on animals, rising animal population, and increasing awareness of zoonotic diseases.
North America region is anticipated to hold the prominent share in the global veterinary chemistry analyzers market owing to high popularity of adopting the animals and increasing population of pet animals.
Europe is expected to follow the North America region in the veterinary chemistry analyzers market. Asia Pacific and MEA regions are anticipated to show considerable growth for veterinary chemistry analyzer market in the forecast period.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with Veterinary Chemistry Analyzer market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- Veterinary Chemistry Analyzer Market Segments
- Veterinary Chemistry Analyzer Market Dynamics
- Veterinary Chemistry Analyzer Market Size
- Supply & Demand for Veterinary Chemistry Analyzer Market
- Current Trends/Issues/Challenges in Veterinary Chemistry Analyzer Market
- Competition & Companies Involved in Veterinary Chemistry Analyzer Market
- Technology in Veterinary Chemistry Analyzer market
- Veterinary Chemistry Analyzer Market Value Chain
- Veterinary Chemistry Analyzer Market Drivers and Restraints
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Peru, Chile, Rest of LATAM)
- Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Eastern Europe, Rest of Europe)
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, South Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, S. Africa, Rest of MEA)
Market Segmentation: Global Veterinary Chemistry Analyzer
The global market for veterinary chemistry analyzer can be segmented on the basis of product type, application type, and region.
Global Veterinary Chemistry Analyzer by Product Type,
- Consumable segment
- Panels
- Kits
- test strips
- reagents
- Instrument segment
Global Veterinary Chemistry Analyzer by Application Type,
- Blood chemistry analysis
- Urinalysis, glucose monitoring
- Blood gas-electrolyte analysis
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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