Veterinary Chemistry Analyzer Market Worth $1,205.2 Million – Global Industry Segments and Leading Key Players

PUNE, India, 2021-Mar-19 — /EPR Network/ — 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™.

Major Growth Boosting Factors: The 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.

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

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On the basis of product,

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,

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. In 2016, 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.

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Geographical Scenario:

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.

However, the emerging Veterinary Chemistry Analyzer Market (including China, India and Latin America) segment is expected to witness the highest growth rate during the forecast period. Growth in the emerging markets can be attributed to the rising animal population, growing pet adoption, increase in the demand for animal-derived food products, growing per capita animal health expenditure (especially in India, Latin America, and China), and rising awareness regarding animal health and welfare. Among the developed and emerging markets, the U.S. accounted for the largest share of global market.

Global Leaders:

Some of the prominent players in Veterinary Chemistry Analyzer 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).