rising animal health expenditure and growth in the number of veterinary practitioners and their income levels in developed economies are driving the growth of the global veterinary chemistry analyzers market. However, increasing pet care costs may hinder the growth of this Veterinary Chemistry Analyzer Market to a certain extent.
According to Latest Market research report Published by MarketsandMarkets the “Veterinary Chemistry Analyzer Market Size, Share, Demand and Growth Analysis, forecast” the global Market is estimated to grow at a CAGR of 8.7% to reach the US $1,205.2 million.
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Amidst intense market competition, major players are continuously focusing on achieving higher market shares through new product launches, agreements, partnerships, acquisitions, and expansions.
key players operating in the Global Veterinary Chemistry Analyzer Market;
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.) and many more
IDEXX Laboratories, Inc. in this Veterinary Chemistry Analyzer Market is mainly attributed to its strong product portfolio, wide geographic presence, and strong distribution and services network across the globe. The company operates in more than 175 countries across North America, Europe, Asia-Pacific, and the Rest of the World. The company majorly focuses on product launches and product upgrades to provide the most advanced technology to its end users.
Major Objectives Covered in the Veterinary Chemistry Analyzer Market;
- To define, describe, and forecast the global Veterinary Chemistry Analyzer Market by product, application, end user, and region
- To provide detailed information regarding major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast size of market segments with respect to the four main regions, namely, North America (US and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of APAC), and the Rest of the World (Latin America and Middle East & Africa)
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Global Veterinary Chemistry Analyzer Market Segmentation:
On the basis of products, the 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 Veterinary Chemistry Analyzer Market.
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 Analyzer Market.
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On the basis of animal type, the Veterinary Chemistry Analyzer Market is segmented into companion animals and livestock. The companion animals segment accounted for the largest share of the global market and is expected to register the highest CAGR during the forecast period. Growing pet population, rising pet ownership, increased demand for pet insurance, and rising pet healthcare expenditure are the major driving factors driving the growth of this segment.
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