Veterinary Chemistry Analyzers Market by Product and Geography - Forecast and Analysis 2022-2026

The veterinary chemistry analyzers market share is expected to increase to USD 617.32 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.06%.

The report extensively covers veterinary chemistry analyzers market segmentations by the folloeing:

• Product - Instruments and consumables
• Geography - North America, Europe, Asia, and Rest of World (ROW)

The veterinary chemistry analyzers market report offers information on several market vendors, including Abbott Laboratories, Alfa Wassermann Inc., Arkray USA Inc., Carolina Liquid Chemistries Corp., Chengdu Seamaty Technology Co. Ltd., DiaSys Diagnostic Systems GmbH, Diconex SA, ELITech Group, Eurolyser Diagnostics GMBH, Heska Corp., HORIBA Ltd., IDEXX Laboratories Inc., Neogen Corp., NeoMedica, Randox Laboratories Ltd., Scil Animal Care Co. GmbH, Skyla Corp., URIT Medical Electronic Co. Ltd., Ushio Inc., and Zoetis Inc. among others.

This veterinary chemistry analyzers market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.

What will the Veterinary Chemistry Analyzers Market Size be During the Forecast Period?

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Veterinary Chemistry Analyzers Market: Key Drivers, Trends, and Challenges

The increase in ownership of companion animals is notably driving the veterinary chemistry analyzers market growth, although factors such as the rise in pet care costs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the veterinary chemistry analyzers industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Veterinary Chemistry Analyzers Market Driver

• The increase in ownership of companion animals is one of the key drivers supporting the veterinary chemistry analyzers market growth.
• For instance, in 2020, people who work from home were eight times more likely to have a new pet.
• Pets not only bring love and affection, but they may also assist us in staying healthy.
• Pet ownership has been associated with lower blood pressure, reduced stress, a lower risk of heart disease, and lower overall health care expenses in recent studies.
• Companion animals, in summary, make people happier and healthier. For instance, according to a poll of pet owners conducted in 2021, 69 million homes in the US possessed at least one dog, making dogs the most popular type of pet in the country. Thus, the increase in pet ownership is expected to drive the growth of the market during the forecast period.

Key Veterinary Chemistry Analyzers Market Trend

• Growing animal healthcare expenditure is one of the key veterinary chemistry analyzers market trends that is contributing to the market growth. 
• The rise in the demand for protein food and the occurrence of food-borne and zoonotic diseases across the world is increasing animal healthcare spending, thereby driving the growth of the market. 
• Companies have been pushed to create improved animal healthcare tools due to the dramatic increase in disease occurrence. W
• With the rise in the prevalence of animal diseases and the expansion of the animal population, there has been a greater focus on the development of medications for animal care.
• Significantly, various animal diseases arise each year, providing possibilities for manufacturers to market newly designed animal healthcare solutions. As a result, businesses are successfully sponsoring research and development to treat new and existing animal diseases. These factors are propelling the veterinary chemistry analyzers market growth.

Key Veterinary Chemistry Analyzers Market Challenge

• The rise in pet care costs is one of the factors hindering the veterinary chemistry analyzers market growth. 
• For pet owners, rising costs and inflation are becoming an increasing issue, affecting everyday expenses such as groceries, gasoline, and housing.
• For example, pet care sales in the US surpassed $109 billion in 2021, up roughly $6 billion from 2020.
• Pet food spending increased by $44.1 billion, while veterinary care spending increased by $32.3 billion, including product sales.
• According to the US Department of Labor, annual inflation for pet food increased by 3.7% in February 2022, while annual inflation for pet services, such as veterinarian care, increased by 5.8%. The cost of many pet products has increased, like most consumer goods and services across the world. Thus, such factors are expected to hamper the growth of the veterinary chemistry analyzers market during the forecast period.

This veterinary chemistry analyzers market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Veterinary Chemistry Analyzers Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Abbott Laboratories
• Alfa Wassermann Inc.
• Arkray USA Inc.
• Carolina Liquid Chemistries Corp.
• Chengdu Seamaty Technology Co. Ltd.
• DiaSys Diagnostic Systems GmbH
• Diconex SA
• ELITech Group
• Eurolyser Diagnostics GMBH
• Heska Corp.
• HORIBA Ltd.
• IDEXX Laboratories Inc.
• Neogen Corp.
• NeoMedica
• Randox Laboratories Ltd.
• Scil Animal Care Co. GmbH
• Skyla Corp.
• URIT Medical Electronic Co. Ltd.
• Ushio Inc.
• Zoetis Inc.

 

This statistical study of the veterinary chemistry analyzers market encompasses successful business strategies deployed by the key vendors. The veterinary chemistry analyzers market is fragmented and the vendors are deploying growth strategies such as R&D, technological innovations, market expansion, and investments to compete in the market.

Product Insights and News

• Carolina Liquid Chemistries Corp. - Through the unified segment, the company offers clinical chemistry analyzers, testing reagents, and support services for all sizes of clinical laboratories. 
• Carolina Liquid Chemistries Corp. - The company offers veterinary chemistry analyzers under the brand name of CLC6410. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The veterinary chemistry analyzers market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Veterinary Chemistry Analyzers Market?

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39% of the market's growth will originate from North America during the forecast period. The US is the key market for veterinary chemistry analyzers market in North America. Market growth in this region will be faster than the growth of the market in ROW.

The rising pet adoption and rising per capita animal healthcare expenditure will facilitate the veterinary chemistry analyzers market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic negatively impacted the veterinary chemistry analyzers market in North America. However, in 2021, the demand for these products rebounded, as manufacturing activities were reopened due to the initiation of COVID-19 vaccination drives in the region. Thus, such factors will drive the growth of the regional veterinary chemistry analyzers market during the forecast period.

What are the Revenue-generating Product Segments in the Veterinary Chemistry Analyzers Market?

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The veterinary chemistry analyzers market share growth by the instruments segment will be significant during the forecast period. By product, instruments contribute a major share in the global veterinary chemistry analyzers market which is expected to continue during the forecast period. For in-house veterinary use, a veterinary chemical analyzer is used. These analyzers are used to determine the concentration of specific metabolites, proteins, electrolytes, and medicines in urine, plasma, serum, and other animal body fluids. Such applications of instruments will drive the veterinary chemistry analyzers market growth during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the veterinary chemistry analyzers market size and actionable market insights on post COVID-19 impact on each segment.

Parent Market Analysis

Technavio categorizes the global veterinary chemistry analyzers market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the veterinary chemistry analyzers market during the forecast period.

Veterinary Chemistry Analyzers Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the veterinary chemistry analyzers market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Veterinary Chemistry Analyzers Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 9.06%
Market growth 2022-2026	$ 617.32 million
Market structure	Fragmented
YoY growth (%)	6.44
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 39%
Key consumer countries	US, UK, France, Republic of Korea, and China
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Abbott Laboratories, Alfa Wassermann Inc., Arkray USA Inc., Carolina Liquid Chemistries Corp., Chengdu Seamaty Technology Co. Ltd., DiaSys Diagnostic Systems GmbH, Diconex SA, ELITech Group, Eurolyser Diagnostics GMBH, Heska Corp., HORIBA Ltd., IDEXX Laboratories Inc., Neogen Corp., NeoMedica, Randox Laboratories Ltd., Scil Animal Care Co. GmbH, Skyla Corp., URIT Medical Electronic Co. Ltd., Ushio Inc., and Zoetis Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Veterinary Chemistry Analyzers Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive veterinary chemistry analyzers market growth during the next five years
• Precise estimation of the veterinary chemistry analyzers market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the veterinary chemistry analyzers industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of veterinary chemistry analyzers market vendors

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