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Veterinary Chemistry Analyzer Market Growth Opportunity and Industry Forecast
The Growth in this Veterinary Chemistry Analyzer 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
The Global Veterinary Chemistry Analyzer Market is estimated to grow at a CAGR of 8.7% to reach the US $1,205.2 million.
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.
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- Further breakdown of the emerging market into Brazil, Mexico, Argentina, and other emerging markets.
- Further breakdown of the developed market into Belgium, the Netherlands, Australia, New Zealand, and other developed markets.
The developed market includes the U.S., Canada, Germany, the U.K., France, Italy, Spain, and Japan while the emerging market includes China, India, and Latin America. the U.S. attributed the largest share of the developed market owing to its well-established animal healthcare systems. 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.
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Global Veterinary Chemistry Analyzer Market, by Application
- Blood Chemistry Analysis
- Glucose Monitoring
- Blood Gas & Electrolyte Analysis
On the basis of products, the Veterinary Chemistry Analyzer Market is segmented into instruments (including chemistry analyzers, urine analyzers, glucometers, and blood gas & electrolyte analyzers) and consumables (including panels, kits, test strips, and reagents). The consumables segment accounted for the largest share of the global market and is expected to register the highest CAGR during the forecast period.
The market 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).
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