Veterinary Hematology Analyzers Market quickly expanding to reach USD 972.64 million by 2022
The Global Veterinary Hematology Analyzers
market size was around USD 700 million in 2017. It is expected to grow at a
CAGR of 6.8% to reach USD 972.64 million by 2022.
This market has grown impressively since the
launch of the first specialized haematology analysers for animals. Several
government bodies along with leading players in the animal health industry are
carrying out research and development activities to develop effective
therapeutics and diagnostics for animals.
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Since 2002, the U.S. Department of
Agriculture (USDA) has developed the National Animal Health Laboratory Network
in collaboration with state and university diagnostic laboratories to address
many issues that hold back the development of the veterinary diagnostics area
of the country’s veterinary healthcare industry. Across several other countries
across the globe as well, a vast rise in government initiatives in the animal
health industry are taking place and are propelling the market for veterinary
haematology analysers.
On the basis of product, the global veterinary
haematology analysers market has been segmented in the report into table top
analysers and point of care analysers. Of these, the segment of table top
analysers is presently the leading revenue generator and is expected to retain
dominance over the report’s forecast period as well. Multidimensional analysis,
minimal maintenance, low sample volume requirement, and rising outbreaks of
animal diseases are reasons behind this trend. Technologically advanced table
top haematology analysers have been steadily hitting the market and several are
currently in development. New varieties are expected to address key unmet needs
in two key ways: accurate results with multi-parameter analysis and reduced
downtime. These new technologies will continue to drive the demand for table
top haematology analysers across the globe in the near future.
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By geography the market is
segmented into North America, Latin America, Europe, Asia Pacific, and Middle
East and Africa. North America is the current market leader and is expected to
remain so in the aforementioned forecast period. Higher adoption of pets,
increasing number of clinics, and rising disposable income are few factors
attributable to the observable trend mentioned above. Asia pacific is estimated
to witness the highest growth rate during the aforementioned forecast period.
Large number of livestock animals and rise in per capita income and the
resultant change in lifestyle and expenditure patterns of the population are
driving the demand for veterinary haematology analysers in the region.
Key companies profiled in
the report include Drew Scientific Inc., URIT Medical, Boule Medical AB, scil
animal care, Mindray, HORIBA Medical, Clindiag Systems, IDEXX Laboratories,
Inc., Abaxis, Inc., Heska Corporation, Siemens Healthcare Diagnostics Inc. ,
HemoCue AB, Diatron and Sysmex.
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