According to the latest market report published by Credence Research, Inc. “Veterinary Hematology Analyzers Market – Growth, Future Prospects, and Competitive Analysis, 2017 – 2025,” the global veterinary hematology analyzers market was valued at US$ 766.1 Mn in 2016, and is expected to reach US$ 1414.4 Mn by 2025, expanding at a CAGR of 6.9% from 2017 to 2025
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Hematology analyzers are widely used in clinical and research institutions to count and characterize blood cells for monitoring and disease detection. It is used to count red cells, leucocytes and platelets and determine hemoglobin and hematocrit levels. Analyzers are designed according to specific species of animals. Thus according to the requirements, or add on, specified machine is designed to measure the different characteristics of animal species. Awareness about animal healthcare and prevalence of zoonotic diseases, rise in animal population, and surge in demand of food derived from animals are the key contributors to the growth of veterinary hematology analyzers market. Furthermore with rise in food borne diseases also plays significant role in veterinary hematology analyzers market.
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The global veterinary hematology analyzers market is segmented by product type into semi-automated analyzers and fully automated analyzers. Fully automated analyzers dominate the veterinary hematology analyzers market due to it efficient, precise results and faster turnaround time. The global veterinary hematology analyzers market is segmented by analysis parameters into 2 part differential analyzers, 3 part differential analyzers, 5 part differential analyzers and others. 5 part differential analyzers segment dominates the veterinary hematology analyzers market.
As of the current market scenario, North America dominates the global veterinary hematology analyzers market followed by the Europe. Awareness about animal healthcare and zoonotic diseases, novel diagnostic technology, and significant increase in animal healthcare expenditure are the key factors driving the growth of veterinary hematology analyzers market in North America. Asia Pacific is the fastest growing regional market for veterinary hematology analyzers with highest CAGR in the forecast period.
Market Competition Assessment:
Key players in the global veterinary hematology analyzers market are Abaxis, Inc., Boule Medical AB, Clindiag Systems Co., Ltd., Diatron MI PLC, Drew Scientific, Inc., IDEXX Laboratories, Inc., HemoCue AB, Heska Corporation, HORIBA Medical, Mindray Medical International Ltd., Qreserve, Inc., Urit Medical, Rayto Life and Analytical Sciences Co., Ltd., Scil Animal Care Company GmbH, Siemens Healthineers, Sysmex Corporation, Woodley Equipment Company Ltd. and others.
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Key Market Movements:
- Awareness about zoonotic diseases, rise in government initiatives for animal healthcare industry is fuelling the growth of veterinary hematology analyzers market
- Rapidly evolving technology and high throughput hematology analyzers are key factors driving the growth of the veterinary hematology analyzers market
- High adoption of advanced diagnostics devices in animals in both developed and developing countries
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