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.
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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). In 2016, 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.
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On 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. The Veterinary Chemistry Analyzer Market is further segmented, on the basis of animal type, into companion animals and livestock. The companion animal segment accounted for the largest share of the market. This segment is also expected to register the highest growth during the forecast period.
The report also provides a detailed geographic analysis of the Veterinary Chemistry Analyzer Market covering developed and emerging economies. The developed market includes the U.S., Canada, Germany, the U.K., France, Italy, Spain, and Japan while the emerging market includes China, India, and Latin America. The U.S. attributed the largest share of the developed market owing to its well-established animal healthcare systems. The large share of this regional market segment is driven by increasing demand for animal-derived food products, rising animal healthcare expenditure, growing animal population, and raising awareness about zoonotic diseases.
Some of the prominent players in this market are IDEXX Laboratories, Inc. (U.S.), Abaxis, Inc. (U.S.), Heska Corporation (U.S.), Randox Laboratories Ltd. (U.K.), ARKRAY, Inc. (Japan), Eurolyser Diagnostica GmbH (Austria), Alfa Wassermann Inc. (U.S.), DiaSys Diagnostic Systems, USA, LLC (U.S.), Diconex SA (Argentina), Chengdu Seamaty Technology Co., Ltd.(China), Biochemical Systems International Srl (Italy), ELITechGroup (France), and URIT Medical Electronic Group Co. Ltd (China).
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