Global Veterinary Chemistry Analyzers Market to Reach USD 1.2 Billion by 2022 - Rising Demand for Animal-derived Food Products

The Global Veterinary Chemistry Analyzers Market is estimated to grow at a CAGR of 8.7% from 2017 to 2022, to reach USD 1,205.2 million by 2022 from USD 795.8 million in 2017.

The growth of this market is mainly attributed to the rising demand for animal-derived food products, increasing animal population, growing pet adoption, growing demand for pet insurance and rising animal health expenditure, and increasing incidence of zoonotic diseases. In addition, the increasing awareness about animal healthcare and increase in the number of veterinary practitioners and their growing income levels are further expected to drive the growth of this market. However, rising pet care costs may hinder the growth of this market to a certain extent.

Based on the type of product, the veterinary chemistry analyzers market is segmented into instruments and consumables. The consumables segment accounted for the largest share of the global veterinary chemistry analyzers market in 2016. The large share of this segment is mainly attributed to the higher adoption of products such as preloaded multiple reagent clips & cartridges, preloaded single-slide reagent panels, test strips, and reagents.

Geographically, the global veterinary chemistry analyzers market is segmented into developed markets and emerging markets. In 2016, the developed markets segment commanded the largest share of the global veterinary chemistry analyzers market. The large share of this segment is mainly due to the increasing adoption of companion animals, growing pet insurance industry, increasing demand for animal-derived food products, and rising veterinary healthcare expenditure in this region. The emerging markets segment is expected to register the highest CAGR during the forecast period. Growth in the emerging markets can be attributed to the rising companion animal ownership, rising awareness about animal health, increase in the demand for animal-derived food products, and growing per capita animal health expenditure. Among the developed and emerging markets, the U.S. accounted for the largest share of global veterinary chemistry analyzers market.

Companies Mentioned

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Global Veterinary Chemistry Analyzer Market, By Product

5 Global Veterinary Chemistry Analyzer Market, By Application

6 Global Veterinary Chemistry Analyzer Market, By Animal Type

7 Global Veterinary Chemistry Analyzer Market, By Geography

8 Competitive Landscape

9 Company Profiles

10 Appendix

For more information about this report visit https://www.researchandmarkets.com/research/jdwfzt/veterinary

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