The Global Veterinary Chemistry Analyzer Market is estimated to grow at a CAGR of 8.7% to reach the US $1,205.2 million.
The Growth in this Veterinary Chemistry Analyzer Market is majorly attributed to factors such as growing livestock and companion animal population, rising animal healthcare expenditure, rising pet adoption, growing demand for animal-derived food products, raising awareness about zoonotic diseases, and an increasing number of veterinary practitioners across the globe.
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Global Veterinary Chemistry Analyzer Market Segmentation:
On the basis of products, the Veterinary Chemistry Analyzer Market is segmented into instruments (including chemistry analyzers, urine analyzers, glucometers, and blood gas & electrolyte analyzers) and consumables (including panels, kits, test strips, and reagents). The consumables segment accounted for the largest share of the global market and is expected to register the highest CAGR during the forecast period.
Based on application, the market is segmented into blood chemistry analysis, urinalysis, glucose monitoring, and blood gas & electrolyte analysis. The blood chemistry analysis segment accounted for the largest share of the global veterinary chemistry analyzers market. The large share of this segment is mainly attributed to the growing prevalence of animal diseases, rising awareness about zoonotic diseases, and increasing number of veterinary practitioners across the globe.
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Geographic Analysis
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.
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).
According to the new market research report “Veterinary Chemistry Analyzer Market by Product (Chemistry Analyzer, Glucometer, Consumables (Panel, Test Strip, Reagent)) Application (Blood Chemistry Analysis, Urinalysis, Glucose Monitoring) & Animal (Companion & Livestock) — Global Forecast”,published by MarketsandMarkets™, the Global Veterinary Chemistry Analyzer Market is estimated to grow at a CAGR of 8.7%, to reach USD 1,205.2 Million.The growth in this market is majorly attributed to factors such as growing livestock and companion animal population, rising animal healthcare expenditure, rising pet adoption, growing demand for animal-derived food products, raising awareness about zoonotic diseases, and an increasing number of veterinary practitioners across the globe.The Global Veterinary Chemistry Analyzer Market is segmented on the basis of product, application, animal type, and region.
On the basis of product, this market is segmented into instruments and consumables (panels, kits, test strips, and reagents).
The consumables segment accounted for the largest share of the global Veterinary Chemistry Analyzer Market.
It is expected to register the highest growth during the forecast period.
The high growth of this segment is mainly attributed to the increased adoption of the pre-loaded multiple reagent panels and pre-loaded single slide reagent panels by the end users.Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=48798056Browse and in-depth TOC on “Veterinary Chemistry Analyzer Market”206 — Tables24 — Figures250 — PagesOn the basis of application, the market is categorized into blood chemistry analysis, urinalysis, glucose monitoring, and blood gas-electrolyte analysis.
The blood chemistry analysis segment accounted for the largest share, while the glucose-monitoring segment is expected to witness the highest growth during the forecast period.
Market Analysis and Insights of Global Veterinary Chemistry Analyzer MarketVeterinary chemistry analyzer market is expected to gain market growth in the forecast period of 2020 to 2027.
Data Bridge Market Research analyses the market growth at a CAGR of 8.7% in the above-mentioned forecast period.The veterinary chemistry analyzer is used for home veterinary medicine, and in veterinary medicine, hematology testing is designed to give accurate results and increase test flexibility.
Regular growing research activities in veterinary medicine, product development and new product launches are expected to create new growth opportunities for the major players in this market.This veterinary chemistry analyzer market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market.
The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.· Based on type, the veterinary chemistry analyzer market is segmented into benchtop and portable.· Based on product, the veterinary chemistry analyzer market is segmented into consumables and instruments.
Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance.
The above data points provided are only related to the companies’ focus related to veterinary chemistry analyzer market.The major players covered in the veterinary chemistry analyzer market report are Abaxis, Heska Corporation, IDEXX Laboratories, Inc., Randox Laboratories Ltd., EurolyserDiagnostica GmbH, ARKRAY, Diconex SA, Alfa Wassermann Inc., Chengdu Seamaty Technology Co., Ltd., DiaSys Diagnostic Systems GmbH, Biochemical Systems International Srl, URIT Medical Electronic Group Co. Ltd., and ELITech Group among other domestic and global players.
The Global Veterinary Chemistry Analyzer Market is projected to reach USD 1,446.9 million in 2027.
Higher expenditure on animal healthcare and increased ownership of pets are some of the major factors contributing to market growth.One of the main factors in rising market growth is increasing occurrence of zoonotic diseases.
According to an article published in the Centers for Disease Control and Prevention (CDC) in 2017, scientists reported that in humans 3 out of 4 emerging infectious diseases are transmitted via animals, and in humans more than 6 out of 10 known infectious diseases are transmitted by animals.Increasing demand for animal proteins is leading to an increase in livestock production worldwide and an increase in animal exports.
Increasing disposable income and changing lifestyles are agitating demand for food products derived from animals.According to the American Pet Products Association (APPA), the U.S. pet food sales increased from 2000 to 2014 to USD 22 billion and are projected to grow.
According to Mintel, the quality of pet food products is as important as their own in 2014 as 79.0 per cent of U.S. pet owners considered.The market for veterinary chemistry analyzers is expected to see significant growth in the coming years, with increased demand for animal-derived food products , increased numbers of livestock and companion animals, increased ownership of animals in developed countries , increased demand for pet insurance, increased expenditure on animal health , increased incidence of zoonotic diseases and an increase in the number of veterinarians In addition , new markets in the veterinary chemistry analyzers industry are expected to provide substantial growth opportunities for companies.
Nevertheless, the increasing cost of pet care is expected to curb this market’s growth.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3572 The report provides a panoramic view of the market and insights that will help formulate better business decisions.
