Veterinary Chemistry Analyzer Market to hit USD 3.1 billion by 2032, says Global Market Insights Inc.

Veterinary Chemistry Analyzer Industry is projected to witness a CAGR of 8.4% during the period 2023-2032. This growth can be attributed to the growing demand for animal-derived foods.

Selbyville, Delaware, Aug. 13, 2023 (GLOBE NEWSWIRE) —

Veterinary Chemistry Analyzer Market size will surpass USD 3.1 billion by 2032. Rising pet ownership and the growing awareness of animal health & welfare will boost the demand for veterinary chemistry analyzers in veterinary care. This will amplify the need for advanced diagnostic tools such as veterinary chemistry analyzers. These devices are becoming more accurate, reliable, and user-friendly, leading to increased adoption by veterinarians and other professionals in the field.

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The advent of automation in veterinary chemistry analyzer technologies has significantly reduced the time and effort required for sample analysis, leading to faster diagnosis and more efficient patient care. Additionally, the integration of these devices with other diagnostic tools, such as hematology analyzers and immunoassay analyzers, has streamlined workflows in veterinary clinics and laboratories.

Rapid automation of benchtop analyzers will propel industry evolution

Based on type, the veterinary chemistry analyzer market is divided into benchtop and portable analyzers. The veterinary benchtop analyzers market will exhibit robust progression over 2032. Benchtop analyzers are the most widely used instruments in veterinary practices, due to their accuracy, reliability, and ability to handle a higher volume of samples. The increasing adoption of benchtop analyzers can be attributed to features such as compact design, automation, user-friendly interface, connectivity, and high throughput.

These analyzers come with intuitive user interfaces that simplify the testing process and minimize the learning curve for technicians and veterinary practitioners. They are also integrated with advanced connectivity options, such as Wi-Fi, Bluetooth, and USB ports, allowing seamless integration with laboratory information systems and electronic medical records.

High consumption of livestock animal-based food products
With respect to animal type, the veterinary chemistry analyzer market is categorized into companion and livestock animals. The livestock animals segment held a notable share in the veterinary chemistry analyzers industry in 2022. This is owing to the increasing importance of maintaining the health of these animals for food production and the rising prevalence of animal diseases.

The increasing consumption of animal-derived products, such as meat, milk, and eggs is also leading to a rise in livestock farming activities. This has fueled the need for efficient diagnostic tools to monitor and maintain the health of livestock animals, leading to the increased adoption of benchtop analyzers. The demand for veterinary chemistry analyzers to monitor the health of livestock animals is also increasing due to the economic importance of these animals and the need for regular tracking to ensure the safety and quality of their food products.

Increasing demand for POC testing in veterinary care
In terms of end-use, the veterinary chemistry analyzer market is bifurcated into point-of-care testing, veterinary laboratories and veterinary hospitals and clinics. Industry size from point-of-care (POC) testing segment will grow substantially over 2032. The development of portable, point-of-care veterinary chemistry analyzers has enabled veterinarians to perform diagnostic tests in real time, even in remote locations or field settings. This has not only increased the accessibility of these devices but has also led to more timely and accurate diagnoses and treatments.

POC testing is gaining popularity in veterinary medicine, as it offers rapid results and enables veterinarians to make informed decisions about an animal’s health and treatment. Portable veterinary chemistry analyzers are also becoming essential instruments for POC testing, as they can be easily transported to remote locations and provide accurate results in a short time.

APAC to serve as key development hub for veterinary chemistry analyzers industry
Asia Pacific veterinary chemistry analyzer market size will expand at a sustainable rate over 2032 due to factors such as the increasing livestock population, and growing awareness of animal healthcare. Additionally, the emergence of local market players and government initiatives promoting animal health are contributing to the demand for chemistry analyzers in the region. Furthermore, the increasing population across countries such as India, and China is propelling the demand for animal-derived food products, creating lucrative prospects for veterinary chemistry analyzers market progression in the region.

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Veterinary chemistry analyzer market competitive landscape

IDEXX Laboratories, Inc., Heska Corporation, Zoetis, Inc., URIT Medical Electronic Co. Ltd., Eurolyser Diagnostics GmbH (Affiliate of Mars), Randox Laboratories Ltd., DiaSys Diagnostic Systems, SKYLA CORPORATION, Chengdu Seamaty Technology Co., Ltd., Bioevopeak Co., Ltd. are some of the leading players in the industry.

Veterinary chemistry analyzer industry news:

• November 2022: DiaSys Diagnostic Systems expanded its portfolio of clinical chemistry analyzers with the addition of respons®940, along with new assays enabling assessment of HDL and LDL-cholesterol.

Partial Table of Contents (ToC) of the report:

Chapter 3   Veterinary Chemistry Analyzer Industry Insights

3.1    Industry ecosystem analysis

3.2    Industry impact forces

3.2.1    Growth drivers

3.2.1.1   Increasing incidences of zoonotic diseases

3.2.1.2   Growing pet adoption

3.2.1.3   Growing demand for animal-derived foods

3.2.1.4   Rising animal health expenditure

3.2.2    Industry pitfalls & challenges

3.2.2.1   High cost associated with veterinary chemistry analyzers

3.2.2.2   Lack of veterinary medical facilities and specialists

3.3    Growth potential analysis

3.3.1    By type

3.3.2    By product

3.3.3    By animal type

3.3.3    By end use

3.4    COVID- 19 impact analysis

3.5    Regulatory landscape

3.6.1    U.S.

3.6.2    Europe

3.6    Technology landscape

3.7    Porter’s analysis

3.8    PESTEL analysis

Chapter 4   Competitive Landscape, 2022

4.1    Introduction

4.2    Company matrix analysis, 2022

4.3    Strategic outlook matrix

4.4    Company market share analysis, 2022

4.5    Company positioning matrix

4.6    Strategy dashboard, 2022

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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