Veterinary Hematology Analyzers Market Size
Estimated to be USD 90.4 million in 2022, the market for veterinary hematology analyzers is expected to rise at a CAGR of 15.7% over the projected period. The factors driving the explosive expansion of this market are rising acceptance of companion animals, increase in animal healthcare expenditure, increasing number of clinical visits including bloodwork, high frequency of animal diseases, and hematology analyzer technological developments.
To get key market trends
A comprehensive blood count is accomplished with the veterinary hematology analyzers. It analyzes constituents of the blood, including RBC, WBC, and platelets both qualitatively and statistically. It also offers thorough details regarding hemoglobin, monocytes, lymphocytes, and basophils. Complete blood count values obtained using hematology analyzers serve as a guide or aid for the practitioner in problem analysis.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Veterinary Hematology Analyzers Market Size in 2022 | USD 90.4 Million |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 15.7% |
| 2032 Value Projection | USD 388.3 Million |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 285 |
| Tables, Charts & Figures | 489 |
| Segments covered | Product, Analysis Parameter, Animal Type, End-user, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
COVID-19 Impact
Governments have to act to halt the spread of COVID-19 once it struck. They mandated individuals to stay home and set travel restrictions. The veterinary world was much affected by this. Initially, only animals with severe issues were let to hospitals or clinics. Less individuals were therefore purchasing blood test equipment for animals. It also affected businesses who manufactured and marketed these equipment since they struggled to create the machines and get the necessary parts. Nevertheless, the constraints began to relax as the COVID count dropped. And that is the situation whereby the market for animal blood test machines began to expand once more.
Human diagnostic testing was highly sought for during the epidemic, which caused resources—including laboratory tools and staff—to be given human healthcare top priority. The availability and capability of veterinary hematological tests might have changed with this reordering of resources.
Notwithstanding this, the epidemic has helped the industry by raising pet adoption, boosting pet insurance, and worldwide pet healthcare spending increase of animals. The epidemic made clear the significance of zoonotic illnesses as well as their possibility for human to animal transfer. This may have sparked more research on hematological testing for zoonotic diseases in animals, such vector-borne infections or diseases with respiratory symptoms.
Veterinary Hematology Analyzers Market Trends
The veterinary hematology analyzers market is growing under the influence of rising adoption of companion animals, high frequency of zoonotic illnesses, rising animal health costs, and increasing acceptance of pet insurance in developed nations. Moreover, the pet ownership figures given by World Animal Foundation show that American pet ownership has increased dramatically. Of the 90.5 million U.S. homes expected in 2022, 70% had a pet. Rapidly rising pet popularity has led to growing need for veterinary treatments including animal diagnostics and disease prevention.
The increasing frequency of animal diseases created great demand for veterinary treatments and early identification of the diseases. Veterinary hematology analyzers are fast and accurate in identifying animal diseases, hence the growing pet population, rising healthcare costs, and demand for successful diagnosis and treatment for animal diseases will drive their development.
Veterinary Hematology Analyzers Market Analysis
Learn more about the key segments shaping this market
Hey, check out this! Table-top and portable models define the two primary categories of Vet Blood Test Machine Market. Two varieties of table-top machines are completely automatic and semi-automatic. Portable machines come either direct sample-based or cartridge-based. With a lion's share of the market, the table-top machines were 2022's big winners. For what? They are cheap, simple to operate, and not overly difficult to keep maintained. You will thus find them most often in veterinary clinics and hospitals.
Analysis parameter guides the classification of the global market into 3-part WBC differential, 5-part WBC differential and other criteria. With 47.7% of the market share in 2022, the 3-part WBC differential segment led. Count for monocytes, neutrophils, and lymphocytes is given by the three-part BC differential. Because of their efficiency and economy, veterinary hospitals, clinics, and reference labs most often use them. It offers correct analysis to identify animal viral and bacterial infections. These elements taken together help this area to flourish.
Learn more about the key segments shaping this market
In the world of veterinary medicine, special equipment is used to analyze blood samples, and this market is divided into two main groups based on the types of animals being treatedpets and farm animals. For pets, the market breaks down even further into dogs, cats, horses, and other furry friends. As for farm animals, it includes cattle, chickens, pigs, and others. In 2022, most of the market belonged to the pet segment, making up about 82.5%. This is because more and more people in developed countries are bringing dogs and cats into their homes, and they're making sure to take them to the vet for regular checkups and blood tests. Plus, people are becoming more aware of their pets' health and are willing to spend more on their care, including insurance and fancy treatments.
For pet owners and animal care professionals, there are different places where they can use hematology analyzers, including veterinary hospitals and clinics, specialized labs, mobile testing services, and research institutions. Out of all these groups, veterinary hospitals and clinics are the most common users of hematology analyzers. They use these devices to diagnose and treat animal diseases. Since more and more animals are getting sick, the demand for hematology analyzers is going up. Plus, people are taking their pets to the vet more often for checkups and bloodwork. This, combined with the growing use of hematology analyzers for diagnosing and treating animal diseases, is helping the global veterinary hematology analyzer market grow at a steady pace.
Looking for region specific data?
Around the world, the market for these analyzers is divided into different regionsNorth America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa. In 2022, North America's market for veterinary hematology analyzers was estimated to be around $42.1 million. This is because more people are getting pet insurance, the number of pets is growing quickly, there is a greater emphasis on animal health, and there are advanced healthcare facilities available. Within North America, the United States had the biggest market share in 2022. This is because more people are adopting pets and getting pet insurance, more animals are getting sick, and more animals are receiving medical treatment.
Asia Pacific market for veterinary hematology analyzers is expected grow at the highest CAGR during the forecast period. The factors such as growing number of pets, increasing incidences of animal diseases, and increasing awareness about animal health are expected to drive the regional market statistics.
Veterinary Hematology Analyzers Market Share
The leading players in veterinary hematology analyzers market are
- 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
- Siemens Healthcare Private Limited.
These key players are implementing different strategies such as expansion, collaborations, acquisitions, partnerships, mergers, and product launches, etc. to maintain a competitive edge in the industry.
Veterinary Hematology Analyzers Industry News
- In August 2022, IDEXX Laboratories, Inc. launched the ProCyte One Hematology Analyzer for workflow efficiency and accurate results at the point-of-care leading to product enhancement.
- In October 2022, Zoetis Inc. launched its VETSCAN hematology analyzers, which help in quick and easy analysis at the point-of-care testing. This product launched strengthened Zoetis’s product portfolio for veterinary diagnostics.
The global veterinary hematology analyzers market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments
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By Product
- Table-top analyzers
- Fully automatic analyzers
- Semi-automatic analyzers
- Point-of-care analyzers
- Cartridge based analyzers
- Direct sample-based analyzers
By Analysis Parameter
- 3-part WBC differential
- 5-part WBC differential
- Other parameters
By Animal Type
- Companion animals
- Dogs
- Cats
- Horses
- Other companion animals
- Livestock animals
- Cattle
- Poultry
- Swine
- Other livestock animals
By End-user
- Veterinary hospitals & clinics
- Veterinary reference laboratories
- Point-of-care testing
- Veterinary research & academic institutes
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Afric
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