Articles
Veterinary Chemistry Analyzer Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe global veterinary chemistry analyzers market size is expected
to reach USD 1.3 billion by 2025, according to a new report by Grand View
Research, Inc., progressing at a CAGR of 8.2% during the forecast period.
Rising animal healthcare expenditure and increasing pet ownership are some of
the major factors contributing to the growth of the market.
Increasing incidence of zoonotic diseases is one of
the key trends escalating market growth. According to an article published in
the Centers for Disease Control and Prevention (CDC) in 2017, scientists
estimated that 3 out of every 4 emerging infectious diseases in people are
transmitted through animals, and more than 6 out of every 10 known infectious
diseases in people are transmitted through animals.
Increasing demand for animal proteins is leading to
a global rise in livestock production and increase in exports of animal
products. Rising disposable income and changing lifestyles are stirring up the
demand for animal-derived food products.
According to the American Pet Products Association
(APPA), the U.S. pet food sales doubled to USD 22 billion from 2000 to 2014 and
are expected to rise at a CAGR of 2.5%. According to Mintel, in 2014, 79.0% of
the U.S. pet owners considered the quality of pet food products is as important
as their own.
Further
key findings from the report suggest:
- Benchtop analyzers were the largest segment, based on type, in 2016
due to their accuracy and precision. Portable analyzers are anticipated to
witness remarkable growth owing to surging demand for shorter analysis
time and quicker results
- The consumables segment was the largest as well as the fastest
growing segment during the forecast period due to the ability of
consumables to create a standardized workflow and advancements such as
ready-to-use liquid reagents
- Blood chemistry dominated the application segment owing to
increasing number of veterinary practitioners globally
- The hospitals segment held the largest market share in 2016 and is
expected to exhibit a noteworthy CAGR over the forecast period due to
increasing demand for in-house analyzers
- North America accounted for approximately 40.0% of the market in
2016, owing to increasing incidence of zoonotic diseases and growing
demand for pet
insurance
- Asia Pacific is anticipated to witness healthy growth over the next
decade due to increasing pet ownership in countries such as India and
China. It is expected to rise at a CAGR of 9.4% over the forecast period
- Key players including IDEXX Laboratories, Inc.; Abaxis; URIT
Medical; Randox Laboratories Ltd.; Heska Corporation; and Eurolyser
Diagnostica GmbH dominated the veterinary chemistry analyzers market in
2016.
Access
full research report on global veterinary chemistry analyzers market:
www.grandviewresearch.com/industry-analysis/veterinary-chemistry-analyzer-market
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About Susan Hill 
Business Consultant
145 connections, 2 recommendations, 567 honor points.Joined APSense since, September 25th, 2017, From California, United States.
Created on Feb 19th 2020 03:42. Viewed 300 times.
