Global Veterinary Chemistry Analyzer Market Insights Forecasts to 2033

• The Global Veterinary Chemistry Analyzer Market Size was Valued at USD 1.53 Billion in 2023
• The Market Size is Growing at a CAGR of 9.41% from 2023 to 2033
• The Worldwide Veterinary Chemistry Analyzer Market Size is Expected to Reach USD 3.76 Billion by 2033
• Asia-Pacific is Expected to Grow the fastest during the forecast period.

The Veterinary Chemistry Analyzer Market Size is Anticipated to Exceed USD 3.76 Billion by 2033, Growing at a CAGR of 9.41% from 2023 to 2033.

VETERINARY CHEMISTRY ANALYZER MARKET REPORT OVERVIEW

A veterinary chemistry analyzer is a diagnostic tool used in veterinary medicine that analyzes animal bodily fluids, including blood and urine. It does this by using a variety of biochemical and immunological techniques to find out how much of various compounds, including proteins, enzymes, electrolytes, and metabolites, are present in the sample. Veterinary chemical analyzers are essential tools that help doctors to provide health evaluations and customized treatment regimens. In addition, the emphasis on early disease identification and therapy is highlighted by the general shift towards preventative healthcare for animals. Veterinary chemical analyzers support preventative care initiatives by making it possible to conduct routine health checks and spot any health risks. These analyzers contribute to global food security and safety by ensuring the well-being and production of livestock animals. Furthermore, the capabilities of chemical analyzers are always being improved by continuing research and development work in the field of veterinary diagnostics. Modern analytical technologies including immunoassays and spectrophotometry have been integrated, and this has increased the speed, accuracy, and efficiency of diagnostic procedures. Contemporary analyzers are equipped with automation capabilities that minimize human mistakes and optimize workflow. Additionally, the devices' user-friendly interfaces enable a wider spectrum of veterinary professionals to utilize them.

Report Coverage

This research report categorizes the market for the global veterinary chemistry analyzer market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global veterinary chemistry analyzer market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global veterinary chemistry analyzer market.

DRIVING FACTORS:

The growing pet ownership can accelerate the market growth.

Pet owners are more likely to make health and well-being investments for their companions as pets grow to be essential parts of the family. Increased readiness to seek out comprehensive healthcare solutions, including cutting-edge diagnostics, is a result of this heightened emotional attachment. Veterinary chemical analyzers provide accurate information about the health of a pet, making it easier to identify illnesses early and take prompt action. This effect is more noticeable in developed economies since there is more money available to spend on diagnostics and other pet healthcare services.

RESTRAINING FACTORS

The high cost of laboratory equipment can restrict the market growth.

The rising cost of advanced equipment can hamper the market growth for small businesses. However, the lack of availability of trained veterinarians can also restrict the market growth.

Market Segmentation

The veterinary chemistry analyzer market share is classified into type, application, and end-use.

The benchtop segment has the highest share of the market over the forecast period.

Based on type, the veterinary chemistry analyzer is classified into benchtop and portable. The market share that contributed the most was the benchtop veterinary chemistry analyzers category. Benchtop analyzers are becoming more and more popular due to benefits including work automation, lower manual error rates, high accuracy, and precision. The efficiency with which these analyzers can diagnose specific diseases in companion animals accounts for a significant portion of this segment's market share. Veterinarian practices need a low-cost, high-speed chemistry analyzer that can meet their needs quickly and cheaply. The EasyRA benchtop analyzer is fully automated. In less than eight minutes, EasyRA can analyze samples and is operational promptly.

The blood chemistry analysis segment is expected to boost the market growth during the forecast period.

Based on application, the veterinary chemistry analyzer is classified into blood chemistry analysis, urinalysis, blood gas & electrolyte analysis, and glucose monitoring. The quantities of different electrolytes, minerals, and hormones in animal blood can be determined using the high-precision veterinary blood chemistry analyzer. It is employed in the detection, prevention, and treatment of illnesses. These tools' primary purpose is to assist veterinarians in early disease diagnosis so they can begin appropriate treatment before the illness becomes life-threatening. The segment for blood gas and electrolyte analysis is anticipated to increase profitably. There is a surge in demand for electrolyte and blood gas analysis due to the introduction of point-of-care analyzers.

The veterinary laboratories is owing to the biggest market share throughout the forecast period.

Based on end-use, the veterinary chemistry analyzer is classified into veterinary laboratories, veterinary hospitals and clinics, and point-of-care testing. The veterinary laboratories sector is expected to maintain its dominant market share. Veterinary laboratories primarily provide pathology and diagnostic services. In veterinary laboratories, pathology—which includes looking into veterinary diseases—is a common area of focus. A further aspect driving the segment's growth is the increasing number of sophisticated laboratories with improved infrastructure. The rapid diagnostic tool usage is predicted to be the primary driver of the segment's growth. Moreover, rising public awareness of animal health issues is anticipated to support the segment's expansion.

Regional Segment Analysis of the Global Veterinary Chemistry Analyzer Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America holds the biggest share of the veterinary chemistry analyzer market throughout the forecast period.

The veterinary clinic, research institute, and diagnostic laboratory concentration in North America are indicative of a strong veterinary healthcare infrastructure. The region's spending on veterinary care has increased significantly, which is anticipated to fuel the market's expansion. Furthermore, strong R&D spending and well-developed infrastructure in the area are expected to support the North American market. There are many animal health and diagnostics enterprises in this area. Furthermore, there has been a notable rise in the region's spending on veterinary healthcare, which is anticipated to propel market expansion. In addition, the market is anticipated to benefit from the region's large research and development investments and well-established infrastructure.

The Asia-Pacific is the fastest-growing region over the projected timeframe.

The Asia-Pacific area will expand quickly. This increase is explained by three factors: the growing pet adoption trend, increased awareness of animal health, and the world's animal population rise. A major expansion of the market is expected in countries such as China and India because more manufacturing facilities are being established in the region. Moreover, rising R&D expenditures by industry participants hoping to develop value-added gadgets are predicted to be a major factor in the region's market expansion.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global veterinary chemistry analyzer market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Diconex SA
• Elitechgroup
• Eurolyser Diagnostica GmbH
• Heska Corporation
• Idexx Laboratories Inc.
• Randox Laboratories Ltd.
• Urit Medical Electronic Group Co. Ltd.
• IDEXX Laboratories, Inc.
• Biochemical Systems International Srl
• Abaxis Inc.
• Alfa Wassermann Inc.
• Arkray Inc.
• Chengdu Seamaty Animal Co Ltd.
• Diasys Diagnostic Systems GmbH
• Others

Key Market Developments

• In June 2023, the first veterinary diagnostic test, IDEXX Cystatin B, was introduced by US-based medical device manufacturer IDEXX Laboratories Inc. to identify kidney damage in dogs and cats.

• In December 2022, global in vitro diagnostics leader EKF Diagnostics announced the release of a new Lactate Scout analyzer version that is intended for use in veterinary settings.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global veterinary chemistry analyzer market based on the below-mentioned segments: 

Global Veterinary Chemistry Analyzer Market, By Type

• Benchtop
• Portable

Global Veterinary Chemistry Analyzer Market, By Application

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

Global Veterinary Chemistry Analyzer Market, By End-Use  

• Veterinary Laboratories
• Veterinary Hospitals and Clinics
• Point-Of-Care Testing

Global Veterinary Chemistry Analyzer Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa