The global Veterinary Chemistry Analyzer Market size reached USD 1,557 million in 2022. Demand for veterinary chemistry analyzers saw a 7.6% year-on-year growth in 2022, suggesting an expansion of the market to USD 1,677.1 million in 2023.
Future projections indicate a 9.5% CAGR for veterinary chemistry analyzer sales, resulting in a market size of USD 4,167.6 million by the end of 2033. The market is projected to create an absolute opportunity of USD 2,490.5 million during the assessment period of 2023 to 2033.
Key Market-Shaping Factors:
As the threat of another potential pandemic looms over the world, improving animal health and preventing disease acquisition has become a priority for governments and people alike. This in turn is putting markets, such as the veterinary healthcare market and veterinary chemical analyzer market, into spotlight.
A veterinary chemistry analyzer is a medical device used in veterinary clinics and laboratories to analyze various parameters in animal blood, urine, and other bodily fluids. These analyzers provide rapid and accurate results, aiding in the diagnosis and treatment of animal diseases
Veterinary chemistry analyzers have become vital tools in veterinary diagnostics, providing valuable information about an animal's health status and aiding in the diagnosis and detection of numerous diseases. These diagnostics tools are employed for assay & biochemical testing in veterinary medicine for detecting animal diseases.
Veterinary chemistry analyzers can measure multiple parameters in a single sample, including liver enzymes (ALT, AST, ALP), kidney function (BUN, creatinine), electrolytes (sodium, potassium, chloride), glucose, proteins, enzymes, and various metabolites. This allows for comprehensive diagnostic testing and monitoring of animal health.
The market for veterinary chemistry analyzers is primarily driven by the companion animal segment, which includes dogs, cats, and other small pets.
Veterinary chemical analyzers have become key tools for the early detection of animal diseases due to their quick and reliable results capabilities. With rising focus on improving animal health and growing awareness about preventive healthcare, demand for veterinary chemical analyzers is projected to rise rapidly during the forecast period.
Veterinary clinics and hospitals are the primary end-users of veterinary chemistry analyzers. The increasing number of veterinary clinics, along with their focus on expanding diagnostic capabilities, will continue to bolster veterinary chemistry analyzer sales.
Rising adoption of pets is expected to play a key role in bolstering veterinary chemistry analyzer sales during the assessment period.
In recent years, there has been a sharp rise in pet adoption and pet spending across countries such as the United States, China, and the United Kingdom.
For instance, as per the American Pet Products Association, it is estimated that around 66% of United States households own a pet. Further, around USD 136.8 billion was spent on pets in the United States in 2022. This is positively influencing veterinary chemical analyzer sales in the country and the trend is expected to continue during the forecast.
Increasing prevalence of animal diseases along with growing concerns regarding the spread of infectious diseases from animals to humans will continue to act as a catalyst fueling expansion of the veterinary chemistry industry.
As per the Centers for Disease Control and Prevention (CDC), around 6 out of every 10 known infectious diseases in people can be spread from animals. To tackle this, pet owners and farmers spend considerable amounts on veterinary diagnostic tests for early diagnosis of diseases. This will create lucrative opportunities for veterinary chemistry analyzer manufacturers.
| Attributes | Key Insights |
|---|---|
| Global Veterinary Chemistry Analyzer Market Value in 2022 | USD 1,557 million |
| Estimated Veterinary Chemistry Analyzer Market Size (2023E) | USD 1,677.1 million |
| Projected Market Value (2033F) | USD 4,167.6 million |
| Value CAGR (2023 to 2033) | 9.5% |
| Collective Value Share: Top 3 Countries (2023E) | 65 to 70% |
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From 2018 to 2022, the global market for veterinary analyzers expanded at a value CAGR of 7.8%. Looking forward, the target market is expected to thrive at a CAGR of 9.5% during the forecast period, as per Future Market Insights (FMI).
Increasing adoption of pets across the world along with growing focus on improving animal health is a prominent factor driving the global veterinary chemistry analyzer market.
Similarly, growing importance of early disease detection in initiating a proper treatment approach is creating high demand for diagnostic tools such as veterinary chemistry analyzers.
Growing Popularity of Point-of-Care Testing to Boost the Market
The rising need for point-of-care testing is one of the key trends boosting the target market and the trend is expected to continue during the next ten years.
Point-of-care analyzers are being adopted by veterinary clinics and hospitals to obtain real-time test data, enabling quick diagnostic and treatment choices. These analyzers provide better efficiency, convenience, and cost-effectiveness by eliminating the need for transferring samples to outside laboratories.
POC analyzers can handle a variety of test parameters, such as coagulation profiles, liver & kidney function, electrolytes, and blood chemistry. Hence, expansion of point-of-care testing in veterinary clinics will elevate veterinary chemistry analyzer demand during the next ten years.
Veterinarians can quickly and accurately diagnose patients and choose the best course of therapy at the point of care with the help of portable veterinary chemistry analyzers such as the Abaxis VetScan VUE.
Advancements in Veterinary Chemical Analyzers to Fuel Market Expansion
Technological advancements and automation are revolutionizing the veterinary chemistry analyzer industry. They are making these veterinary diagnostic tools accurate, reliable, more advanced, and user-friendly.
Leading veterinary chemistry analyzer manufacturing companies are integrating cutting-edge elements such as touchscreen user interfaces, e-health record integration, and wireless networking.
These developments improve testing procedures' precision, speed, and efficiency, allowing veterinary experts to promptly ascertain accurate results.
Rising usage of these technologically advanced veterinary chemistry analyzers in veterinary clinics and research labs is expected to fuel market expansion.
An example of an advanced veterinary chemistry analyzer is the IDEXX Catalyst One, which combines automation, connectivity, and multiplexing to deliver comprehensive and reliable results.
Principal Consultant
Growing Pet Population Expanding China Veterinary Chemistry Analyzer Industry
As per Future Market Insights (FMI), China holds more than half of the market share in the East Asia market. From 2023 to 2033, China veterinary chemistry analyzer market is expected to thrive at a CAGR of 9.7%.
China has a significantly large pet population, including dogs, cats, and other companion animals. The growing middle class and rising disposable incomes have led to increased pet ownership and a greater willingness to invest in veterinary care.
The substantial pet population is creating a significant demand for veterinary services, including diagnostic testing using chemistry analyzers.
In recent years, there has been an increasing awareness among Chinese pet owners about the importance of preventive healthcare and regular veterinary check-ups.
Pet owners are becoming more proactive in seeking medical care for their pets, leading to a higher demand for accurate and comprehensive diagnostic testing. This in turn is positively impacting veterinary chemistry analyzer sales.
Veterinary chemistry analyzers play a crucial role in providing timely and precise results, aiding in disease diagnosis and treatment. Growing usage of these equipment in accurately detecting diseases in animals will fuel demand in China market.
China has been rapidly developing its veterinary infrastructure, including veterinary clinics, hospitals, and diagnostic laboratories.
The government has been actively promoting animal health and welfare, leading to increased investments in veterinary healthcare. As a result, there is a growing adoption of advanced diagnostic equipment, including veterinary chemistry analyzers, to meet the rising demand for quality veterinary services.
Overall, the combination of a large and growing pet population, rising awareness of pet health, advancements in veterinary infrastructure, and government support makes China the most prominent market in East Asia.
Rising investments in veterinary research and education and large presence of leading veterinary chemistry analyzer manufacturers will further boost China market.
Advancements in Veterinary Chemistry Analyzers to Boost Germany Market
Germany veterinary chemistry analyzer market is anticipated to expand at a sizable CAGR of 8.8% over the forecast period. Veterinary chemistry analyzer sales in the country are projected to increase at a robust pace through 2033.
Germany has a well-established and advanced healthcare infrastructure, including veterinary medicine. The country is known for its high standards of healthcare and veterinary services. This infrastructure provides a strong foundation for the demand and adoption of veterinary chemistry analyzers.
Germany places a significant emphasis on animal health and welfare. The country has well-defined regulations and standards for veterinary care, ensuring the quality and safety of veterinary diagnostic equipment.
The focus on veterinary healthcare drives the demand for advanced diagnostic tools such as chemistry analyzers. Export-oriented manufacturers can tap into the growing global demand for veterinary diagnostic equipment, further driving their growth and market share.
German manufacturers are known for their focus on automation and efficiency in laboratory equipment. This approach aligns with the increasing demand for streamlined laboratory workflows and faster turnaround times.
Veterinary chemistry analyzer manufacturers in Germany strive to develop analyzers that offer high throughput, accurate results, and user-friendly interfaces. Development of advanced veterinary diagnostic tools will help them to expand their customer base and improve their revenues.
Rising Importance of Animal Health to Elevate Veterinary Chemistry Analyzer Demand in the United States
The United States has a large and growing pet population, with dogs and cats being the most commonly owned pets. Pet owners in the United States are increasingly considering their pets as part of the family and are willing to invest in their healthcare. This trend drives the demand for veterinary services, including diagnostic testing using chemistry analyzers.
There is a heightened awareness among pet owners and the general population about the importance of animal health and preventive care. Pet owners are increasingly seeking regular veterinary check-ups and screenings to ensure their pets' well-being. This in turn is fueling veterinary chemistry analyzer demand.
Veterinary chemistry analyzers play a crucial role in providing accurate and comprehensive diagnostic information, aiding in the early detection and management of diseases. They have become critical devices in animal disease diagnosis and prevention.
Veterinary medicine in the United States of America has seen significant advancements in recent years. There have been advancements in diagnostic technologies, including chemistry analyzers, which offer faster, more accurate, and multiparameter testing capabilities.
The continuous advancements have improved the quality of veterinary care and increased the demand for advanced diagnostic tools, including veterinary chemistry analyzers.
The United States also has a well-developed veterinary infrastructure, with a significant number of veterinary clinics and hospitals across the country. These healthcare facilities are increasingly investing in advanced diagnostic equipment, including chemistry analyzers, to enhance their diagnostic capabilities.
Growing need for efficient and reliable diagnostic testing will continue to drive demand for veterinary chemistry analyzers in veterinary clinics and hospitals across the country. As a result, the United States veterinary chemistry analyzer market value is expected to reach USD 1,145.2 million by 2033.
Chemical Analyzers to Remain the Highly Remunerative Product Type Segment
By product type, chemical analyzer segment is expected to account for more than half of the market value share in the forecast period. The same segment is expected to create an absolute opportunity of USD 2,356.3 million during the forecast period of 2023 to 2033.
Rising usage of chemical analyzers in clinical laboratories and other end user sectors is elevating demand in the market.
Chemical analyzers have become important equipment for getting valuable information about an animal’s health. They are used to analyze blood samples or urine to detect diseases in animals.
On the other hand, glucometer segment is anticipated to thrive at a value CAGR of 9.5% from 2023 to 2033.
Demand for Veterinary Chemistry Analyzers to Remain High in Point of Care Settings
Based on end use, the point of care segment is expected to hold more than one-third of the market value share during the forecast period. Further, the target segment is projected to create an absolute opportunity of USD 1,005.3 million through 2033.
Growth of the target segment is attributed to rising popularity of point-of-care testing and high usage of veterinary chemical analyzers during point-of-care procedures.
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Leading manufacturers of veterinary chemistry analyzers are launching new products and expanding their production to grab growth opportunities. They are also expanding their reach for enhancing their sales and services for their customers through strong distribution network.
Companies are also concentrating on adopting alternative distribution channels, such as online, to further expand their presence in regional as well as global markets. Several key players are concentrating on acquisition of small players.
Recent Developments:
| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | USD 1,677.1 million |
| Projected Market Value (2033) | USD 4,167.6 million |
| Anticipated Growth Rate (2023 to 2033) | 9.5% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value and ‘000 Units for Volume |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Central Asia; Russia and Belarus; Balkan and Baltic Countries; East Asia; South Asia and Pacific; and Middle East & Africa |
| Key Countries Covered | United States of America, Canada, Mexico, Brazil, Argentina, Germany, Italy, France, United Kingdom, Spain, BENELUX, NORDICS, Poland, Hungary, Romania, Czech Republic, China, Japan, South Korea, India, ASEAN, Australia , New Zealand, KSA, United Arab Emirates, Turkiye and Israel. |
| Key Segments Covered | Product Type, Modality, End Uses, and Region |
| Key Companies Profiled | Idexx laboratories Inc.; Nova Biomedical; Alfa Wassermann; Randox Laboratories Ltd.; Siemens Healthineers AG; Pan Veterinary; Heska Corporation; Abaxis Inc.; Biochemical Systems International; ALR Technologies SG Pte. Ltd; Arkray, Inc.; FUJIFILM India Private Limited; Medica Corporation; URIT Medical Electronic Co, Ltd.; Diatron MI PLC |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market is estimated to secure a valuation of USD 1,677.1 million in 2023.
The global market size is expected to reach USD 4,167.6 million by 2033.
The growth potential of the veterinary chemistry analyzer market is 9.5% through 2033.
Surging popularity of point-of-care testing and technological advancements in the product are augmenting the product sales.
The German market is expected to expand at a CAGR of 8.8%.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2018 to 2022 and Forecast 2023 to 2033 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD million) Analysis 2018 to 2022 and Forecast 2023 to 2033 8. Market Background 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 9.1. Consumables 9.2. Chemistry Analyzer 9.2.1. Electrolyte Analyzer 9.2.2. Blood Gas Analyzer 9.2.3. Combined Analyzer 9.3. Glucometer 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Modality 10.1. Portable 10.2. Benchtop 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 11.1. Clinical Laboratories 11.2. Point of Care 11.3. Others 12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 12.1. North America 12.2. Latin America 12.3. Western Europe 12.4. Eastern Europe 12.5. Central Asia 12.6. Russia & Belarus 12.7. Balkan & Baltic Countries 12.8. East Asia 12.9. South Asia and Pacific 12.10. Middle East and Africa 13. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Central Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Russia & Belarus Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. Balkan & Baltic Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033 20. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 21. South Asia & Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 22. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 23. Emerging Countries Market Analysis 24. Market Structure Analysis 25. Competition Analysis 25.1. Idexx Laboratories, Inc. 25.2. Nova Biomedical 25.3. Alfa Wassermann 25.4. Randox Laboratories Ltd. 25.5. Siemens Healthineers AG 25.6. Pan Veterinary 25.7. Abbott Laboratories 25.8. Eurolyser Diagnostica GmbH 25.9. Arkray, Inc. 25.10. Abaxis, Inc. 25.11. Heska Corporation 25.12. Biochemical Systems International 25.13. ALR Technologies SG Pte. Ltd. 25.14. FUJIFILM India Private Limited 25.15. Medica Corporation 25.16. URIT Medical Electronic Co. Ltd 25.17. Diatron MI PLC 26. Assumptions and Acronyms Used 27. Research Methodology
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Veterinary Chemistry Analyzer Market
