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Veterinary Hematology Analyzers Market Trends

Report ID: GMI6027
Published Date: Jun 2023
Report Format: PDF

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Veterinary Hematology Analyzers Market Trends

The increasing adoption of companion animals, high prevalence of zoonotic diseases, increasing animal health expenditures, and increasing adoption of pet insurance in developed countries are the factors enhancing the growth of the veterinary hematology analyzers industry. Furthermore, according to the pet ownership statistics provided by World Animal Foundation, there has been massive growth in pet ownership in the U.S. In 2022, 90.5 million U.S. households owned a pet which accounted for 70% of U.S. households. The pet adoption has been rapidly growing and resulting into increasing demand for veterinary services including animal diagnostics and treatment of diseases.

The growing prevalence of animal diseases resulted in high demand of veterinary services for early diagnosis and treatment of the diseases. The growing pet population, increasing healthcare expenditure, and increasing demand for successful diagnosis and treatment for animal diseases will fuel the growth of veterinary hematology analyzers as they are quick and precise in diagnosing animal diseases.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size for veterinary hematology analyzers was worth USD 90.4 million in 2022 and will grow at a CAGR of 15.7% through 2032, owing to the increasing adoption of companion animals, rise in animal healthcare expenditure, and high prevalence of animal diseases.

The companion animal segment accounted for 82.5% market share around in 2022, attributed to factors such as rapidly growing adoption of companion animals like dogs and cats in developed countries, rising focus on pet health, and increasing adoption of pet insurance & healthcare expenditure.

North America market for veterinary hematology analyzers was evaluated to be around USD 42.1 million in 2022, due to the increasing adoption of pet insurance, and availability of technologically advanced healthcare infrastructure in the region.

IDEXX Laboratories, Inc., Boule Medical AB, HemoCue AB, Heska Corporation, Zoetis, Inc., Horiba, Ltd., Shenzhen Mindray Animal Medical Technology Co., LTD., Woodley Equipment Company, Ltd., Sysmex Corporation, and Siemens Healthcare Private Limited.