Growing prevalence of animal diseases, rising demand for animal-derived food products, rising demand for pet insurance, growing animal health expenditure, increasing number of veterinary practitioners & their income levels in developed economies, and growth in the companion animals and livestock population are major factors driving the growth of the market.
The portable clinical chemistry analyzers for point-of-care (POC) services have emerged as a critical component for diagnosing animal diseases. Major players in the veterinary diagnostics market are focusing on launching portable instruments for field veterinarians.
The veterinary chemistry analyzer market is segmented on the basis of product, application, animal type, and region. On the basis of the product, the market is segmented into instruments and consumables. Based on application, this market is categorized into blood chemistry analysis, urinalysis, glucose monitoring, and blood gas & electrolyte analysis. On the basis animal type, the market is segmented into companion animals and livestock.
The Global veterinary chemistry analyzers market is poised to reach USD 1,205.2 million, at a CAGR of 8.7%.
The report provides insights on the following pointers:
· Market Penetration: Comprehensive information on the product portfolios offered by the top players in the veterinary chemistry analyzers market. The report provides an analysis of the veterinary chemistry analyzers market, by product, application, animal type, and region
· Product Development/Innovation: Detailed insights on the upcoming trends, research and development activities, and new product launches in the veterinary chemistry analyzers market
· Market Development: Comprehensive information about lucrative emerging markets, by product and region
Amidst intense market competition, major players are continuously focusing on achieving higher market shares through new product launches, agreements, partnerships, acquisitions, and expansions. The global market is consolidated in nature, with a large number of companies continuously striving to mark their presence.
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· Further breakdown of the emerging veterinary chemistry analyzers market into Brazil, Mexico, Argentina, and other emerging markets.
· Further breakdown of the developed veterinary chemistry analyzers market into Belgium, the Netherlands, Australia, New Zealand, and other developed markets.
Geographically, the veterinary chemistry analyzer market is categorized into developed and emerging markets. The emerging markets (including China, India, and Latin America) segment is expected to witness the highest growth rate during the forecast period. Growth in these markets can be attributed to the rising animal population, increasing demand for animal-derived food products, growing per capita animal health expenditure (especially in India, Latin America, and China), growing pet adoption, and rising awareness regarding animal health and welfare.
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Leading Key Players from veterinary chemistry analyzers market:
The market is dominated by IDEXX Laboratories, Inc. (U.S.), Abaxis, Inc. (U.S.), and Heska Corporation (U.S.). Some of the other players competing in this market are Randox Laboratories Ltd. (U.K.), ARKRAY, Inc. (Japan), Eurolyser Diagnostica GmbH (Austria), Alfa Wassermann Inc. (U.S.), DiaSys Diagnostic Systems, USA, LLC (U.S.), Chengdu Seamaty Technology Co., Ltd. (China), Biochemical Systems International Srl (Italy), ELITechGroup (France), and URIT Medical Electronic Group Co. Ltd (China).