Overview and Scope
Veterinary chemistry analyzer can be defined as an instrument used for testing the blood and urine for accurate results for animal health diagnosis. It offers a scientific foundation for disease identification and alternative diagnosis options.
Sizing and Forecast
The veterinary chemistry analyzer market size has grown rapidly in recent years. It will grow from $1.78 billion in 2023 to $2.01 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The growth in the historic period can be attributed to increasing pet ownership, advancements in veterinary care, prevalence of animal diseases, focus on preventive healthcare, rise in livestock farming.
The veterinary chemistry analyzer market size is expected to see rapid growth in the next few years. It will grow to $3.07 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to rapid growth in pet insurance, emergence of point-of-care testing, integration of connectivity and data management, focus on personalized veterinary medicine, expansion of research and development, increasing awareness of zoonotic diseases veterinary diagnostics. Major trends in the forecast period include point-of-care testing growth, multiparameter analysis, integration of connectivity features, miniaturization and portability, rise in wellness testing.
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Segmentation & Regional Insights
The veterinary chemistry analyzer market covered in this report is segmented –
1) By Type: Benchtop, Portable
2) By Product: Instruments, Consumables
3) By Animal: Companion Animals, Livestock
4) By Application: Blood Chemistry Analysis, Urinalysis, Glucose Monitoring, Blood Gas And Electrolyte Analysis
5) By End Use: Veterinary Hospitals and Clinics, Point-Of-Care Testing, Other End Uses
North America was the largest region in the veterinary chemistry analysis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global veterinary chemistry analyzer market report forecast period. The regions covered in the veterinary chemistry analyzer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
An increase in pet adoption is expected to propel the growth of the veterinary chemistry analyzer market. Pet adoption is taking responsibility for a pet animal, typically a dog, cat, or other domesticated animals, by providing it with a permanent home and caring for its needs. With more people adopting pets and seeking veterinary care, the demand for precise and fast diagnostic equipment to diagnose and treat animal ailments grows. Veterinary chemistry analyzers are vital for veterinary clinics and laboratories as they allow quick and accurate examination of animal blood, urine, and other fluids. For instance, in November 2022, according to a national survey of pets and people published by Animal Medicines Australia (AMA), an Australia-based industry body representing the leaders of the animal health industry in Australia, about half of Australian households have at least one dog, making them the most common pet. Moreover, in 2021, according to Chewy, Inc., a US-based online retailer of pet food and other products, in 2021, there were around 977,202 pets adopted in the US, which resulted in the highest adoption rate of 61% in the past six years. Therefore, the rise in the pet adoption rate is driving the growth of the veterinary chemistry analyzer market.
Key Industry Players
Major companies operating in the veterinary chemistry analyzer market report are IDEXX Laboratories Inc., Arkray Inc., Heska Corporation, Alfa Wassermann Inc., Randox Laboratories, Eurolyser Diagnostica GmbH, DiaSys Diagnostic Systems GmbH, Chengdu Seamaty Technology Co. Ltd., Abaxis Inc., Skyla Corporation, Biochemical Systems International S.p.A., Zoetis Inc., URIT Medical Electronic Co. Ltd., Diconex SA, Diatron MI plc, HORIBA ABX S.A., Bionote Inc., Carolina Liquid Chemistries Corporation, Bioevopeak Co. Ltd., Fujifilm Holdings Corporation, Scil Animal Care Company GmbH, ProtectLife International Biomedical Inc., Beckman Coulter Inc., Bio-Rad Laboratories Inc., Boule Diagnostics AB, Catalyst Biosciences Inc., ChemWerth Inc., EKF Diagnostics Holdings plc, Mindray Medical International Limited, Siemens Healthineers AG, Sysmex Corporation
The veterinary chemistry analyzer market report table of contents includes:
1. Executive Summary
2. Veterinary Chemistry Analyzer Market Characteristics
3. Veterinary Chemistry Analyzer Market Trends And Strategies
4. Veterinary Chemistry Analyzer Market – Macro Economic Scenario
5. Global Veterinary Chemistry Analyzer Market Size and Growth
…
31. Global Veterinary Chemistry Analyzer Market Competitive Benchmarking
32. Global Veterinary Chemistry Analyzer Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Veterinary Chemistry Analyzer Market
34. Veterinary Chemistry Analyzer Market Future Outlook and Potential Analysis
35. Appendix
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