Growing prevalence of zoonotic diseases is projected to boost demand for veterinary chemistry analyzer
globally. In addition, increasing demand to test animal-derived food
products is projected to impact the global market growth of veterinary
chemistry analyzers positively. Transparency Market Research states that
the global market of veterinary chemistry analyzer is projected to
reflect a CAGR of 7.8% over the forecast period, 2017-2022.
Factors Fuelling Global Market Growth
Growth of the global veterinary chemistry
analyzers market is mainly bound to various macro-economic and
micro-economic factors. Increasing population of various animals is
projected to impact the global market growth of veterinary chemistry
analyzer. Surge in the pet adoption is further expected to fuel demand
for pet insurance and healthcare maintenance. Moreover, prevalence of
diseases has further led to increasing awareness about animal healthcare
globally. With the increasing awareness related to animal healthcare,
demand for veterinary chemical analyzers is likely to contribute towards
the global market growth. Surge in demand for animal healthcare has
further led to growing number of practitioners in the veterinary
hospitals and clinics. Growing need to maintain animal healthcare is
projected to rev up the sales of veterinary chemical analyzer in the
global market.
Growing need for conducting the
hematology tests will further continue to impact the global market
growth over the forecast period. As requirement for delivering accurate
results and maximizing the testing facilities arises, sales for
veterinary chemistry analyzer is likely to remain high globally.
Increasing preference to consume animal derived edible products is
further expected to boost demand for veterinary chemistry analyzer in
the food industry. With the growing need to eliminate the illegal
residue and contamination increases, demand for veterinary chemical
analyzers is projected to increase.
Imposition of regulations by FDA
regarding the elimination of illegal residue and contamination in the
animal food product is projected to impact the global market growth of
veterinary chemistry analyzers positively. Veterinary chemistry
analyzers are further used for testing various animal derived
medications and prevalence of zoonotic diseases. Increasing demand for
testing prevalence of various diseases in the animals is projected to
contribute towards the global market growth of veterinary chemistry
analyzers over the forecast period.
Demand for veterinary chemistry analyzer
continues to gain momentum in the global market bound to increasing
prevalence of zoonotic diseases globally. A recent study by CDC reveals
that tens of thousands of the Americans will fall sick due to the
zoonotic diseases, which are diseases that spread between the people and
animals. E.Coli infections, dengue, salmonella infection, malaria and
chikungunya are some common zoonotic diseases. WHO recently revealed
that malaria caused 429,000 deaths and 212 million clinical incidences
in 2015. With the growing need for the control measures for zoonotic
diseases increases, sales of veterinary chemistry analyzer is projected
to increase significantly. Increasing demand for cheap and convenient
rapid diagnostic test is projected to fuel the global market growth
positively.
Sales to Remain High for Consumable Products
Increasing preference for the edible
animal derived products has led to an upsurge in demand for consumable
products in the global market. Based on product type, the glucometer
segment is projected to reflect a robust CAGR through 2022. In terms of
revenue, the consumable product type segment is projected to represent a
significant growth, recording more than US$ 180 Mn by 2022-end.
Representing the fastest growth, the veterinary hospitals application
segment is projected to represent more around US$ 180 Mn by 2017-end.
Market Players
Major players in the global market of
veterinary chemistry analyzer are Alfa Wassermann, Inc., Abaxis, Inc.,
Arkray, Inc., Biochemical Systems International Srl, Diasys Diagnostic
Systems GmbH, Chengdu Seamaty Technology Co., Ltd., Eurolyser
Diagnostica GmbH, Elitechgroup, Idexx Laboratories, Inc., Randox
Laboratories Ltd.
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