Veterinary Chemistry Analyzer Market Reflecting a CAGR of 7.8% During 2017-2022

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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.

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.

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.

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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