VETERINARY CHEMISTRY ANALYZERS MARKET ANALYSIS

Veterinary Chemistry Analyzers Market - Drivers

Increasing animal population, growing pet adoption, increasing demand for pet insurance, along with high animal health expenditure and increase in number of veterinary practitioners are the factors driving growth of the veterinary chemistry analyzers market. According to the data published by American Pet Product Association (APPA) in 2018, total pet healthcare expenditure in America in 2017 was US$ 69.51 billion, which reached to US$ 72.13 billion in 2018.

Increasing prevalence of zoonotic diseases is further contributing towards growth of the veterinary chemistry analyzers market. According to the Centers for Disease Control and Prevention (CDC) in 2017, 3 out of 4 emerging infectious diseases in people are transmitted through animals. E.coli infection, chickungunya, dengue, and malaria are some mild to severe zoonotic diseases. According to the World Health Organization, in 2015, around 212 million cases of malaria were recorded worldwide with 429,000 deaths. Therefore, increasing need for control measures for zoonotic diseases is expected to boost the market growth. 

Key manufacturers in the market are focused on launching new veterinary chemistry analyzers, which is expected to boost the market growth. For instance, in November 2015, Diatron Group, global provider of hematology and clinical chemistry analyzers, launched a new 5-part differential veterinary hematology analyzer- the Abacus Vet5 in Dusseldorf at the Medica show. The Abacus Vet5 consists of new features with completely new look providing improved communication with laboratory information systems (LIS). Moreover, in April 2015, Horiba UK became USHIO’S official distributor for Amishield veterinary chemical chemistry analyzer. In 2015, Horiba UK launched the product Amishield veterinary chemical chemistry analyzer officially at BSAVA tradeshow in Birmingham, U.K. This product is capable of performing biochemistry, electrolytes, and immunoassay diagnostics in the veterinary field.

However, high cost associated with veterinary chemistry analyzers is expected to restrain growth of the veterinary chemistry analyzers market.