What Is The Current and Historic Market Size Analysis Of The Veterinary Chemistry Analyzer Market?
The veterinary chemistry analyzer market has seen considerable growth due to a variety of factors.
•The market for veterinary chemical analyzers has experienced swift expansion in the past few years. It is projected to escalate from $1.99 billion in 2024 to $2.22 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.6%.
The surge during the historic phase can be credited to the rise in pet ownership, advancements in veterinary healthcare, the incidence of animal diseases, emphasis on preventative healthcare, and an increase in livestock farming.
What Are The Predictions for The Veterinary Chemistry Analyzer Market Size In The Coming Years?
The veterinary chemistry analyzer market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of veterinary chemistry analyzers is projected to experience a significant increase in the approaching years. It is estimated to reach "$3.4 billion by 2029, with a compound annual growth rate (CAGR) of 11.3%.
This predicted growth during the forecast period can be linked to the burgeoning growth of pet insurance, the arrival of point-of-care testing, incorporation of connectivity and data management, increased focus on individualized veterinary medicine, and enlargement of research and development. There is heightened awareness regarding zoonotic diseases, which contributes to veterinary diagnostics. Key trends anticipated during the forecast period include the expansion of point-of-care testing, multi-parameter analysis, integration of connectivity capabilities, miniaturization and portability, along with a boost in wellness testing.
Which Drivers Are Accelerating Growth In The Veterinary Chemistry Analyzer Market?
The surge in pet adoption is predicted to fuel the expansion of the veterinary chemistry analyzer market. Adopting a pet, usually a dog, cat, or other domesticated creature, means providing a stable home and meeting its needs. The growing number of individuals who adopt pets and require veterinary attention boosts the need for quick and accurate diagnostic devices for detecting and treating animal diseases. Veterinary chemistry analyzers have a crucial role in veterinary clinics and laboratories thanks to their ability to deliver prompt and precise testing of animal blood, urine, and other fluids. For instance, in November 2022, a nationwide study of pets and people conducted by Animal Medicines Australia (AMA), an Australian-based industry organization representing the leaders of the country's animal health industry, reported that about half of Australian households own at least one dog, making them the most popular pet. Thus, the increasing rate of pet adoption is a major driving force behind the development of the veterinary chemistry analyzer market.
What Are The Core Segments Of The Global Veterinary Chemistry Analyzer Market?
The veterinary chemistry analyzer market covered in this report is segmented –
1) By Type: Benchtop, Portable
2) By Product: Instruments, Consumables
3) By Animal: Companion Animals, Livestock
4) By Application: Blood Chemistry Analysis, Urinalysis, Glucose Monitoring, Blood Gas And Electrolyte Analysis
5) By End Use: Veterinary Hospitals and Clinics, Point-Of-Care Testing, Other End Uses
Subsegments:
1) By Benchtop: Automated Benchtop Analyzers, Semi-Automated Benchtop Analyzers
2) By Portable: Handheld Portable Analyzers, Compact Portable Analyzers
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Which Emerging Trends Are Reshaping The Veterinary Chemistry Analyzer Market Size?
Leading players in the veterinary chemistry analyzer market are recognizing the importance of technological improvements. A vital trend is their focus on delivering innovative technologies to solidify their market standing. For instance, Zoetis Inc., an American company specializing in animal pharmaceuticals, rolled out an AI-powered blood smear testing function in its multi-purpose platform, Vetscan ImagystTM in April 2022. This AI-integrated feature aims to simplify the procedure and enhance the precision of results. It allows those in the veterinary field to assess and make sense of blood smears more effectively and swiftly, thereby enhancing the efficiency and reliability of animal diagnostics.
Who Are the Key Players in the Veterinary Chemistry Analyzer Market?
Major companies operating in the veterinary chemistry analyzer market include:
• IDEXX Laboratories Inc.
• Arkray Inc.
• Heska Corporation
• Alfa Wassermann Inc.
• Randox Laboratories
• Eurolyser Diagnostica GmbH
• DiaSys Diagnostic Systems GmbH
• Chengdu Seamaty Technology Co. Ltd.
• Abaxis Inc.
• Skyla Corporation
• Biochemical Systems International S.p.A.
• Zoetis Inc.
• URIT Medical Electronic Co. Ltd.
• Diconex SA
• Diatron MI plc
• HORIBA ABX S.A.
• Bionote Inc.
• Carolina Liquid Chemistries Corporation
• Bioevopeak Co. Ltd.
• Fujifilm Holdings Corporation
• Scil Animal Care Company GmbH
• ProtectLife International Biomedical Inc.
• Beckman Coulter Inc.
• Bio-Rad Laboratories Inc.
• Boule Diagnostics AB
• Catalyst Biosciences Inc.
What are the Regional Insights into the Veterinary Chemistry Analyzer Market?
North America was the largest region in the veterinary chemistry analysis market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global veterinary chemistry analyzer market report forecast period. The regions covered in the veterinary chemistry analyzer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
