The
global veterinary hematology analyzers displays a highly competitive market
landscape with a few prominent players holding more than 50 percent of the
market’s share, reports Transparency Market Research (TMR). The market is
predicted to be highly consolidated owing to the presence of a few key players.
The prominent players in the market comprise IDEXX Laboratories, URIT Medical,
Heska Corporation, Siemens Healthcare Diagnostics Inc., and HemoCue AB. These
companies are leveraging the power of technology to increase their revenue
share in the market. Moreover, they are adopting numerous growth strategies to
gain a stronghold in the market.
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The
global veterinary
hematology analyzers market is expected to rise at a 6.7% CAGR
during the forecast period which is 2016 to 2024. Growing at this pace, the
market is prophesized to reach a valuation of US$1,178.9 by the end of the
forecast period.
The global
veterinary hematology analyzers market is classified on the basis of the
analysis parameter, product type, end users, and geography. Based on product
type, the table top segment dominates the market. Factors such as rising
outbreaks of animal diseases and minimal maintenance have contributed to the
growth of this segment. It accounted for nearly 73 percent of the market’s
share in 2016.
Geographically,
North America is expected to lead the global veterinary hematology analyzers
market. The growth in this region can be attributed to a rise in adoption of
pets and high disposable income. Additionally, a rise in the number of
veterinary clinics has contributed to the market’s growth in this region.
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Need for Effective Diagnostics for Animals to Steer
Growth
In recent times, there has been a rise in awareness regarding numerous
animal diseases and the benefits of early diagnosis. This has played a major
role in driving the global veterinary hematology analyzers market’s growth.
Moreover, governments of several countries are emphasizing on research and
development activities to develop effective diagnostics for animals, thereby
propelling the market’s growth. In addition, technological developments and
increase in demand for modern pet healthcare facilities has created growth
avenues for the market.
Furthermore, a rise in the animal population has significantly driven
the veterinary hematology analyzers market’s expansion. Along with this, a rise
in food borne diseases and high demand for food derived from animals has
stimulated the market’s growth. Moreover, a rise in demand for fully automated
analyzers that offer precise and reliable results has given a major thrust to
the global veterinary hematology analyzers market.
In addition to the aforementioned drivers, development of new diagnostic
technologies and a rising disposable income have spurred the market’s growth.
Further, initiatives taken by several prominent players in the animal health
industry in terms of funding and campaigns for animal welfare has spurred the
veterinary hematology analyzers market’s growth.
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New Product Developments to Aid in Expanding Global Frontiers
A key player in the global veterinary hematology market Abaxis has
developed VETSCAN VS2, an immunoassay and blood gas analyzer. It offers
extraordinary accuracy and delivers laboratory quality results in just 12
minutes. Moreover, it offers an internal quality control that monitors the
analyzer before and during every analysis to ensure accurate results. This has
led to an increase in the adoption of this device in veterinary clinics and
pharmaceutical companies. This development has opened several growth
opportunities for the global veterinary hematology analyzers market, thereby
expediting its growth.
The study presented here is based on a report by Transparency Market
Research (TMR) titled “Veterinary Hematology Analyzers Market (Product - Table
Top Analyzers (Fully Automatic Analyzers and Semi-automatic Analyzers) and
Point of Care Analyzers (Cartridge Based and Direct Sample Based); Analysis
Parameter - 2 Part White Blood Cell Differential, 3 Part White Blood Cell
differential, 5 Part White Blood Cell Differential; End-user - Research
Institutes, Veterinary Diagnostic Centers, Veterinary Hospitals and Clinics,
Point of Care Testing, and In-house Testing) - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast 2016 – 2024.”
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The global veterinary hematology analyzers market is segmented based on:
Product
·
Table Top Analyzers
o
Fully Automatic Analyzers
o
Semi-Automatic Analyzers
·
Point of Care Analyzers
o
Cartridge Based
o
Others (Direct Sample Based)
·
Analysis Parameter
o
2 Part WBC differential
o
3 Part WBC differential
o
5 Part WBC differential
o
Others
End User
·
Research Institutes
·
Veterinary Diagnostic Centers
·
Veterinary Hospitals and Clinics
·
Others (Point of care testing, in house testing)
Geography
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
o
U.K.
o
Spain
o
Italy
o
Russia
o
Poland
o
Rest of Europe
·
Asia Pacific
o
Japan
o
China
o
India
o
Australia & New Zealand
o
Rest of Asia Pacific
·
Latin America
o
Brazil
o
Mexico
o
Argentina
o
Rest of Latin America
·
Middle East & Africa
o
GCC Countries
o
South Africa
o
Rest of MEA
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