Veterinary Chemistry Analyzer Market Growing at a CAGR of 8.7% | Impact of Covid 19 Detailed Analysis

PUNE, India, 2020-Jul-02 — /EPR Network/ —

The Global Veterinary Chemistry Analyzer Market is estimated to grow at a CAGR of 8.7%, to reach USD 1,205.2 Million.

Factors such as increase in animal population, growing pet adoption, rising demand for animal-derived food products, increasing incidence of zoonotic diseases, growing demand for pet insurance, 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 market to a certain extent.

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Market Segmentation in Depth:

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.

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 in 2016, 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.

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Geographical Regions Mapped in Report:

Geographically, the global veterinary chemistry analyzers market is segmented into developed markets and emerging markets. The developed markets comprise the U.S., Canada, Germany, the U.K., France, Italy, Spain, and Japan. This developed markets accounted for the largest share of the global market in 2016. However, the emerging markets (including China, India and Latin America) segment is expected to witness the highest growth rate during the forecast period.

Maior Key Players Mapped in Research Report:

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).