Veterinary Chemistry Analyzer Market
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Veterinary Chemistry Analyzer Market size was projected to be valued over USD 1.4 billion in 2022 and grow at 8.4% CAGR by 2032, due to increased investment in the animal health sector.
A veterinary chemistry analyzer is a diagnostic tool used in veterinary medicine to analyse blood, urine, and other body fluids from animals. It uses various biochemical and immunological methods to determine the levels of different compounds such as enzymes, proteins, electrolytes, and metabolites in the sample.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Veterinary Chemistry Analyzer Market Size in 2022: | USD 1.4 billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 8.4 |
| 2023 Value Projection: | USD 31 Billion |
| Historical Data for: | 2018 to 2022 |
| No of Pages: | 260 |
| Tables, Charts & Figures: | 550 |
| Segments Covered: | Type, Product, Animal type, End-use, and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Increasing prevalence of animal diseases and conditions is driving the outlook for veterinary chemistry analyzer market. For example, the prevalence of heartworm disease in dogs has been on the rise, which has led to an increased demand for diagnostic tests to detect the disease.
The veterinary chemistry analyzer market share from the consumables segment is expected to grow at a CAGR of more than 8.8% by 2032, owing to rising gains for point-of-care testing, a growing pet population, and an increase in the prevalence of chronic diseases such as diabetes and kidney disease, which are common in companion animals, and diagnostic testing is critical in managing these conditions.
Veterinary chemistry analyzer market from companion animal segment will have the highest CAGR through 2032, driven by factors such as increased pet ownership, rising prevalence of chronic disease, and expanding importance of preventative treatment. Owners of companion animals are increasingly focused on preventative care, which includes regular examinations and diagnostic testing to detect any health concerns as early as possible. The need for improved diagnostic equipment, like as chemical analyzers, grows together with the demand for specialist veterinary treatment, such as cancer and dermatology.
North America veterinary chemistry analyzer market accounted for more than USD 527.2 million in 2022 and is estimated to witness significant growth during the forecast period. The regional growth is attributed to the large pet population, and there has been a growing trend of pet owners seeking out preventive care and regular check-ups for their animals. This has led to an increased progress for diagnostic tools, including chemistry analyzers, in veterinary clinics and hospitals.
The global veterinary chemistry analyzer market consists of several players including
Veterinary Chemistry Analyzer Industry News
By Type
By Product
By Animal Type
By End use
The above information is provided for the following regions and countries:
North America veterinary chemistry analyzer market revenue surpassed USD 527.2 million in 2022, owing to the commendable surge in demand for several diagnostic tools in veterinary clinics and hospitals.
Companion animal segment will record an appreciable valuation by 2032, given the increasing pet ownership and growing acceptance of various preventive therapies focused on ensuring pet health and well-being.
Consumables segment is anticipated to expand at over 8.8% CAGR through 2032, attributed to the increasing pet population and the high prevalence rate of diabetes, kidney disease, and other chronic illnesses in companion animals.
Global market for veterinary chemistry analyzer crossed USD 1.4 billion in 2022 and is estimated to grow at an 8.4% CAGR during 2023 -2032, driven by the increasing technological innovations in POC testing and rising investments in the animal healthcare sector.