The global Veterinary Chemistry Analyzer Market by Product is expected to grow at a CAGR of 8.7%, to reach USD 1,205.2 Million.
The growth in this market is majorly attributed to factors such as growing livestock and companion animal population, rising animal healthcare expenditure, rising pet adoption, growing demand for animal-derived food products, raising awareness about zoonotic diseases, and an increasing number of veterinary practitioners across the globe.
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Veterinary Chemistry Analyzer Market by Product
The Veterinary Chemistry Analyzer Market by Product is expected to witness significant growth in the coming years, with a rising demand for animal-derived food products, growing number of livestock and companion animals, rising pet ownership in developed countries, growing demand for pet insurance, rising animal health expenditure, increasing incidence of zoonotic diseases, and growth in the number of veterinary practitioners and their income levels in developed economies.
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Geographic Analysis for Veterinary Chemistry Analyzer Market by Product;
- The further breakdown of the emerging market into Brazil, Mexico, Argentina, and other emerging markets.
- The further breakdown of the developed market into Belgium, the Netherlands, Australia, New Zealand, and other developed markets.
The large share of this regional market segment is driven by increasing demand for animal-derived food products, rising animal healthcare expenditure, growing animal population, and raising awareness about zoonotic diseases.
Global Veterinary Chemistry Analyzer Market by Application;
- Blood Chemistry Analysis
- Urinalysis
- Glucose Monitoring
Major Key Players in Veterinary Chemistry Analyzer Market by Product;
The industry is dominated by IDEXX Laboratories, Inc. (U.S.), Abaxis, Inc. (U.S.), and Heska Corporation (U.S.). Some of the other players competing in this market are Randox Laboratories Ltd. (U.K.), ARKRAY, Inc. (Japan), Eurolyser Diagnostica GmbH (Austria), Alfa Wassermann Inc. (U.S.), DiaSys Diagnostic Systems, USA, LLC (U.S.), Chengdu Seamaty Technology Co., Ltd. (China), Biochemical Systems International Srl (Italy), ELITechGroup (France), and URIT Medical Electronic Group Co. Ltd (China).
In detailed Analysis of some of the major players in veterinary chemistry analyzers market:
Abaxis, Inc. held the second-largest share of the global veterinary chemistry analyzers market in 2016. Abaxis, Inc. operates through two major segments, namely, medical market and veterinary market. In 2016, the veterinary market segment accounted for approximately 81% of the company’s total revenue, which influenced the operational and financial condition of the company. During the same fiscal year, the company experienced a 21% increase in the sales of its veterinary instruments.
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