Veterinary Chemistry Analyzers Market Size Projected to Touch USD 8.26 Billion By 2032, Increasing at 12.7% CAGR Globally: Polaris Market Research

NEW YORK, Oct. 23, 2023 /PRNewswire/ -- A latest research report [110+] pages with 360-Degree visibility, titled "Veterinary Chemistry Analyzer Market Share, Size, Trends, Industry Analysis Report, By Type (Benchtop, Portable), By Product, By Species, By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the global veterinary chemistry analyzer market size/share was valued at USD 2.50 Billion in 202 and is expected to touch USD 8.26 Billion by 2032, growing at a CAGR of 12.7% during the forecast period."

Global Veterinary Chemistry Analyzers Market: Report Overview

A veterinary chemistry analyzer is a medical device utilized in veterinary clinics and laboratories to scrutinize several variables in animal blood, urine, and other bodily fluids. These analysers offer speedy and precise outcomes, helping in the recognition of the treatment of animal illnesses. The rapidly rising demand for the veterinary chemistry analyzer market can be attributed to the fact that they have become important instruments in veterinary diagnostics, offering priceless information about an animal's health standing and helping in the diagnosis and discernment of several illnesses. These diagnostic instruments are engaged for assay and biochemical testing in veterinary medicines for experimenting with animal diseases.

The escalating population of animals and growth in the acquisition of pets is anticipated to influence the growth of the global market. With the growing acquisition of pets, requests for healthcare sustenance and pet insurance will continue to increase. The pervasiveness of zoonotic illnesses has caused a growth in consciousness in the context of animal healthcare. Additionally, increasing the aggregate of veterinary proponents is likely to push the sales of the market.

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Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Markets's Key Understanding from the Report

• The market is expected to advance as an outcome of the humanization of pets on a global scale, escalated funding in the animal health sector, new technologies and advancements in proposing testing to the Point of Care, escalated hospital pet visits, and escalated POC diagnostic usage.
• The veterinary chemistry analyzer market segmentation is primarily based on type, product, species, application, end-use, and region.
• North America dominated the global market in 2022.

Market Growth Drivers and Trends

• The emergence of point-of-care testing has transformed clinical diagnostics by rendering them reachable, economical, speedy, and handy. The veterinary chemistry analyzer market size is expanding due to the importance of this platform reposes in its potential to authorize persons to observe their health standing frequently, even in the comfort of their homes, sanctioning premature diseases discernment. For instance, a veterinary glucometer is excessively prized for its coherence in clinical, workplace, and home settings. Zoetis provides AlphaTRAK, an easy veterinary blood glucose monitoring system designed for both cats and dogs. Additionally, the escalating pervasiveness of diabetes in animals is the driving element behind the escalating demand for such analyzers.
• In the branch of veterinary medicine, the unrestrained usage of antimicrobial drugs has played a notable part in the surfacing of antibiotic aversion, a critical worldwide public health issue. The veterinary chemistry analyzer market sales are soaring as chemistry analyzers tests provides veterinarians the potential to discover bacterial infections prematurely in the patient's cure, causing lesser antibiotic prescriptions when they are not endorsed. This enterprising perspective assists in lessening the irrelevant usage of antibiotics and encourages accountable antimicrobial stewardship, thus, according notably to the holistic growth of the market.

Prominent Players in the Market

• IDEXX Laboratories, Inc.
• Zoetis
• Heska Corporation
• URIT Medical Electronic Co. Ltd.
• Randox Laboratories Ltd.
• Eurolyser Diagnostica GmbH (Affiliate of Mars)
• DiaSys Diagnostic Systems
• Chengdu Seamaty Technology Co., Ltd.
• SKYLA CORPORATION
• Bioevopeak Co., Ltd.

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Veterinary Chemistry Analyzer Market Outlook

Significant Segmental Breakdown

• Benchtop analyzers segment accounted for the biggest market share

Based on type, the benchtop analyzers segment accounted for the biggest market share. The veterinary chemistry analyzer market demand is on the rise due to the approval of benchtop analyzers is pushed by several benefits involving task automation, lessened possibility for physical fallacies, and escalated extent of perfection and exactness. These analysers are specifically efficacious in detecting certain illnesses in companion animals, which bestows notably to this segment's dominant position.

• The blood chemistry segment dominated the market

Based on application, the blood chemistry segment dominated the market. The veterinary chemistry analyzer market trends include the dominance attributed to increasing incidents of zoonotic illnesses and an increasing community of veterinary practitioners. Worldwide, as per WHO, zoonotic illnesses are responsible for roughly one billion cases of diseases and millions of deaths yearly. Zoonotic also devise more than 60.0% of contemporarily reported infectious illnesses worldwide.

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Regional Analysis

• North America: This region held the largest veterinary chemistry analyzer market share due to the region gloating of excess of animal health and diagnostic firms. Further, there has been a sizeable escalation in veterinary healthcare disbursement in the region, which is predicted to propel market growth. Additionally, the region's entrenched framework and considerable R&D funding are the elements that are anticipated to offer a boost to the market.
• Asia Pacific: This region will grow rapidly due to proliferating animal population, enhanced consciousness of animal health, and an increasing tendency of pet adoption. Nations such as China and India are confident of observing notable market expansion because of the initiation of more manufacturing provisions in the region. Additionally, growing R&D funding by market players proposing to generate value-added devices is expected to be the driving force for the market growth in the region.

Browse the Detail Report "Veterinary Chemistry Analyzer Market Share, Size, Trends, Industry Analysis Report, By Type (Benchtop, Portable), By Product, By Species, By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/veterinary-chemistry-analyzer-market          

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Current Improvements

• In June 2023, IDEXX Laboratories introduced the first veterinary diagnostic test designed to detect kidney injury in cats and dogs. This new IDEXX Cystatin B Test will become part of test panels used to evaluate renal health, aiding veterinarians in diagnosing cases of kidney injury that can be difficult to detect due to subtle or nonspecific symptoms.
• In April 2022, Carolina Liquid agreed to the distribution of Seamaty's SMT-120VP Veterinary Automated Chemistry Analyzer in the U.S. geography.

What can the Report Help you Find?

• What are the key segments in the veterinary chemistry analyzer market?
• How much is the veterinary chemistry analyzer market worth?
• At what CAGR is the market predicted to grow during the forecast period?
• Which region is leading the global market?
• What are the key driving factors in the market?

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About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research