Global Veterinary Chemistry Analyzer Market, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

Global Veterinary Chemistry Analyzer Market Report overview:

“The global Global Veterinary Chemistry Analyzer Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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The “Global Veterinary Chemistry Analyzer Market” report, critical data and information on the global veterinary chemistry analyzer market, including market drivers, threats, potential growth & revenue opportunities, competitive landscapes, historical, estimated, and projected revenue growth, the details of key players, and recent developments in the global market are included.

Extensive primary and secondary research efforts are conducted to ensure the accuracy of different research findings and conclusions. The opinions of industry experts are also included in the report. The global veterinary chemistry analyzer market research report is segmented on the basis of type, product, application, end-use, and regions/countries.

Veterinary chemistry analyzers, also known as veterinary medical products, are used to conduct biochemical testing and assays for veterinary diagnosis, monitoring, prevention, and treatment of different animal diseases. Veterinary chemistry analyzers are efficient in determining animal diseases and play a vital role in maintaining animal health and welfare.

Veterinary chemistry analyzers determine components in the samples of animal urine, blood, and others. There are different types of analyzers such as blood, gas, electrolyte analyzers, urine analyzers, glucometers, and others, which clinics, hospitals, and individuals use in residential settings.

There are also various types of tests done with the use of blood analyzers such as tests for ions that measure voltage differences, immunoassays for detecting antibodies, and cell counters for blood counters among others.

Dynamics

The increase in pet adoption and the high demand for pet insurance are among the major factors driving the growth of the global veterinary chemistry analyzer market. Expenditure on pet care is increasing due to pet owners' increased spending on their pets' health. Other factors expected to drive this market’s growth are the steady increase in the animal population, rising demand for animal-derived food products, rising incidence of zoonotic diseases, the increase in the number of veterinary practitioners and rising animal health expenditure.

The increase in the demand for affordable, convenient and rapid diagnostic test equipment is projected to expand the global veterinary chemistry analyzer market over the foreseeable future. However, rising pet care costs are projected to restrain market growth over the coming years. Continuous innovations in veterinary healthcare, product developments, and new product launches are expected to create new growth opportunities for key players in this market.

Global Veterinary Chemistry Analyzer Market Segment Analysis:

By Type:

The benchtop segment continues to account for the highest revenue share in the global veterinary chemical analyzers market when compared to other type segments. This can be attributed to the different advantages of this product such as reduced manual errors, automation of tasks, precision, and high accuracy. The growth of this segment can also be attributed to its high-efficiency method in determining certain diseases in animals.

By Product:

The consumables segment is projected to continue to account for the majority revenue share over the next ten years. This can be attributed to the increasing adoption of consumables such as reagents, strips, and panels. In addition, easy-to-use reagents, recurring purchase requirements for consumables, and the availability of most reagents in liquid form are factors driving the growth of this segment.

Global Veterinary Chemistry Analyzer Market Regional Analysis:

The veterinary chemistry analyzer market in North America is projected to account for the majority revenue share over the years to come. This can be attributed to the increasing demand for animal-derived foods and rising animal healthcare expenditures in the region.  The Asia Pacific region is projected to register the fastest revenue share growth over the foreseeable future due to the increasing adoption of pets, rising awareness about animal health, and the growing animal population in the region.

Global Veterinary Chemistry Analyzer Market Segmentation: 

By Type:

• Benchtop
• Portable

By Product:

• Consumables
  • Reagents
  • Panels
  • Strips
• Instruments
  • Blood Chemistry Analyzers
  • Urine Analyzer
  • Blood Gas & Electrolyte Analyzer
  • Glucometers

By Application:

• Blood Chemistry Analysis
• Urinalysis
• Blood Gas & Electrolyte Analysis
• Glucose Monitoring

By End-use:

• Hospitals
• Clinical Laboratories

By Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa