The Veterinary Hematology Analyzers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Veterinary Hematology Analyzers Global Market Report 2024, The veterinary hematology analyzers market size has grown strongly in recent years. It will grow from $0.9 billion in 2023 to $0.98 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increase in pet ownership, advancements in veterinary medicine, prevalence of animal diseases, growing awareness of animal health, expansion of veterinary services.
The veterinary hematology analyzers market size is expected to see strong growth in the next few years. It will grow to $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to rising pet healthcare expenditure, growth in animal research, increasing pet insurance coverage, globalization of veterinary practices. Major trends in the forecast period include technological advancements, point-of-care hematology testing, remote monitoring and connectivity, focus on small and exotic animals, multiparameter analysis.
The increasing prevalence of zoonotic diseases in animals is expected to propel the growth of the veterinary hematology analyzer market going forward. A zoonotic disease is an infectious disease caused by harmful microorganisms such as bacteria, viruses, fungi, and parasites that are spread between animals and humans. Veterinary hematology analyzers can detect anomalies in blood parameters in real time, allowing veterinarians to quickly identify zoonotic infections, commence appropriate treatment, and adopt essential preventative measures to keep them from spreading. For instance, in December 2022, according to the European Food Safety Authority (EFSA), an Italy-based agency for the European Union that provides independent scientific advice on food-related risks, in 2021, the two most often reported zoonotic diseases in humans were the gastrointestinal disorders campylobacteriosis and salmonellosis, with a total of 127,840 and 60,050 human cases, respectively which is an increase of roughly 7,000 cases for both infections compared to 2020. Further, there is an increase of +0.86 and +1.96 confirmed cases per 100,000 population for campylobacteriosis and salmonellosis, respectively, in 2021 compared to 2020. Therefore, the growing prevalence of zoonotic disease in animals drives the veterinary hematology analyzers market.
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The veterinary hematology analyzers market covered in this report is segmented –
1) By Product Type: Table Top Analyzer, Point Of Care Analyzer
2) By Animal Type: Companion Animal, Livestock Animals
3) By Analysis Parameter: 2-Part WBC Differential, 3-Part WBC Differential, 5-Part WBS Differential, Other Analysis Parameters
4) By End-Users: Research Institutes, Veterinary Hospitals and clinics, Veterinary Diagnostics Centers, Point-of-care Testing, Inhouse-Testing, Other End-Users
Product innovations are a key trend for gaining popularity in the veterinary hematology analyzer market. Major companies operating in the veterinary hematology analyzer market are focused on developing innovative solutions to strengthen their position in the market. For instance, in April 2022, Zoetis Inc., a US-based veterinary drug company, launched the VETSCAN IMAGYST platform, a first-of-its-kind technology that offers AI blood smear, AI fecal, and digital cytology image transfer in a single, compact device. It is designed to work alongside veterinary hematology analyzers, such as the VETSCAN HM5 Hematology Analyzer, which reports a full 5-part CBC differential with 22 parameters in less than 4 minutes.
The veterinary hematology analyzers market report table of contents includes:
1. Executive Summary
2. Veterinary Hematology Analyzers Market Characteristics
3. Veterinary Hematology Analyzers Market Trends And Strategies
4. Veterinary Hematology Analyzers Market – Macro Economic Scenario
5. Global Veterinary Hematology Analyzers Market Size and Growth
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32. Global Veterinary Hematology Analyzers Market Competitive Benchmarking
33. Global Veterinary Hematology Analyzers Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Veterinary Hematology Analyzers Market
35. Veterinary Hematology Analyzers Market Future Outlook and Potential Analysis
36. Appendix
Top Major Players :
- Abbott Laboratories
- Siemens Healthcare Private Limited
- Zoetis Services LLC.
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
- IDEXX Laboratories Inc.
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