VETERINARY CHEMISTRY ANALYZERS MARKET ANALYSIS
A veterinary chemistry analyzer (VCA) is used for in-house veterinary use. These analyzers are used to determine the concentration of certain metabolites, proteins, electrolytes or drugs in samples of urine, plasma, serum, cerebrospinal fluid and/or other body fluids of animals. In other words, VCA is a blood and urine testing instrument that analyzes around 12 biochemical tests simultaneously, by using the samples of either urine, serum or plasma in around 6 minutes. The types of analyzers include, urine analyzers, blood gas & electrolyte analyzers, glucometers, and others, which are used by hospitals, medical labs, and for home use. There are several types of tests such as hematology test that includes the cell counter for blood counts, immunoassays for detecting antibodies, and tests for ions that measure voltage differences and others.
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.
Veterinary Chemistry Analyzers Market - Regional Insights
On the basis of region, the global veterinary chemistry analyzers market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds dominant position in the global veterinary chemistry analyzers market. This is owing to increasing animal health expenditure and high demand for animal-derived food in the region. According to American Pet Products Association, the total pet industry expenditure which includes the food, supplies and over the counter medicine, in 2017 was US$ 69.4 billion.
Key market players in the region are focused on adopting acquisition strategies to expand their geographical presence. For instance, in May 2018, Zoetis Inc. and Abaxis Inc. announced the definite merger agreement in which Zoetis Inc. will acquire Abaxis Inc. This acquisition is expected to improve Zoetis Inc.’s presence in the veterinary diagnostics sector.
Asia Pacific is projected to be the fastest growing market over the forecast period, owing to the high incidence of vitamin deficiency, bacterial infection, gout in dogs and increase in awareness of various health issues.
Veterinary Chemistry Analyzers Market - Competitive Landscape
Some of the key players operating in the global veterinary chemistry analyzers market include, Abaxis Inc., IDEXX Laboratories Inc., Heska Corporation, DiaSys Diagnostics Systems, Derechos reservados Diconex, URIT Medical, Randox Laboratories Ltd., Eurolyser Diagnostica GmbH, ARKRAY Inc., and Alfa Wassermann Inc.
Key Development
Veterinary Chemistry Analyzers Market - Market Taxonomy
On the basis of modality, the global veterinary chemistry analyzers market is segmented into:
On the basis of product type, the global veterinary chemistry analyzers market is segmented into:
On the basis of animal type, the global veterinary chemistry analyzers market is segmented into:
On the basis of application, the global veterinary chemistry analyzers market is segmented into:
On the basis of end user, the global veterinary chemistry analyzers market is segmented into:
On the basis of region, the global veterinary chemistry analyzers market is segmented into:
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