ALBANY, New York, June 19, 2017 /PRNewswire/ --
The global market for Veterinary Hematology Analyzers features a largely consolidated vendor landscape, with the top three players accounting for nearly 51% of the overall market in 2015, observes Transparency Market Research (TMR) in a recent report. The intense competition in the market has compelled companies to focus on the development of technologically advanced products with innovative features. Focus on expansion across high growth potential regional markets is also a key growth strategy adopted by companies bidding to gain a larger share in the overall market.
Focus on introduction of innovative and technologically advanced products is evident from the rising numbers of hematological analyzers with innovative features to have hit the market in the past few years. An instance is the ProCyte Dx hematology analyzer launched by IDEXX Laboratories, Inc. in 2015. ProCyte Dx hematology analyzer was the first in-house analyzer that uses laser-flow cytometry, optical fluorescence, and laminar-flow impedance for the analysis of hematology samples. Another instance is the VetScan HM5 hematology analyzer developed by Abaxis. The device is a fully-automated, five-part differential hematology analyzer with the capability of displaying a comprehensive 22-parameter complete blood count (CBC), with cellular histograms on an easy-to-read touch-screen.
According to Transparency Market Research, the global veterinary hematology analyzers market was valued at US$663.0 mn in 2015 and is projected to expand at a CAGR of 6.7% from 2016 to 2024 to reach US$1,178.9 mn in 2024.
Veterinary Hospitals to Continue to Remain Leading Users of Veterinary Hematology Analyzers
In terms of end users, the segment of veterinary hospital and clinics segment is expected to gather significant share in revenue of the global market during the forecast period. Veterinary hospitals offer a vast variety of medical care facilities for animals, including surgery, specialty care, pathological and radiological diagnosis, dispensary, and 24-hour surveillance facility, and are thus the most preferred. In terms of geography, the market in North America dominated the global veterinary hematology analyzers market in terms of revenue in 2015 and is projected to retain its dominant position during the forecast period as well.
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Rise in Prevalence of Zoonotic Diseases to Boost Global Demand for Veterinary Hematology Analyzers
The vast rise in prevalence of diseases among animals in the past few years, owing chiefly to climate changes and globalization, is expected to be the key driver increasing the demand for diagnostic tests and procedures. This factors is likely to boost the global market for hematology analyzers in the next few years. Moreover, the increased longevity of pet animals due to improvement in diagnostics, high emphasis of pet owners as well of veterinarians on wellness and prevention of diseases, and better nutrition has expanded the use of veterinary diagnostics and medications.
According to a 2014 survey of veterinary profession stakeholders, commissioned by Partners for Healthy Pets, there has been increased recognition of the importance of preventive pet health care over the past four years. More than 60% of practicing members backed this claim and have observed that there has been a vast rise in efforts to communicate the value and benefit of preventive care to pet owners. Such initiative are also expected to fuel the growth of veterinary hematology analyzers market during the forecast period.
This analysis of the global veterinary hematology analyzers market is based on a recent market research report published by Transparency Market Research, 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."
For the study, the global veterinary hematology analyzers market has been segmented as follows:
Global Veterinary Hematology Analyzers Market, by Product
- Table Top Analyzers
- Fully Automatic Analyzers
- Semi-Automatic Analyzers
- Point of Care Analyzers
- Cartridge Based
- Others (Direct Sample Based)
Global Veterinary Hematology Analyzers Market, by Analysis Parameter
- 2 Part WBC differential
- 3 Part WBC differential
- 5 Part WBC differential
Global Veterinary Hematology Analyzers Market, by End User
- Research Institutes
- Veterinary Diagnostic Centers
- Veterinary Hospitals and Clinics
- Others (Point of care testing, in house testing)
Global Veterinary Hematology Analyzers Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
Browse Related Research Report:
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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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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