Veterinary Hematology Analyzers Market Size
Veterinary Hematology Analyzers Market size was estimated to be USD 90.4 million in 2022 and is anticipated to grow at a CAGR of 15.7% during the forecast timeframe. The increasing adoption of companion animals, increase in animal healthcare expenditure, increasing number of clinical visits including bloodwork, high prevalence of animal diseases, and technological advancements in hematology analyzers are the factors contributing to the massive growth of this market.
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The veterinary hematology analyzers are used to perform a complete blood count. It performs the qualitative and quantitative analysis of elements of the blood such as RBC, WBC, and platelets. It also provides detailed information about haemoglobin, monocytes, lymphocytes, and basophils. The results of complete blood count using hematology analyzers act as an indicator or help the practitioner to analyze the problem.
Veterinary Hematology Analyzers Market Report Attributes
| 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 |
- Rising adoption of companion animals
- Increase in animal healthcare expenditure
- Increasing number of clinical visits including bloodwork
- High prevalence of animal diseases
- Technological advancements in hematology analyzers
|
| Pitfalls & Challenges |
- Lack of awareness about animal healthcare in developing countries
|
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COVID-19 Impact
When the COVID-19 pandemic hit, governments had to do something to stop its spread. They put in place restrictions on travel and ordered people to stay home. This had a big effect on the vet world. At first, only animals with serious problems were allowed to go to clinics or hospitals. This meant that fewer people were buying blood test machines for animals. It also caused problems for companies that made and sold these machines, because they had trouble getting the parts they needed and making the machines. But as the number of COVID cases went down, the restrictions started to ease up. And that's cuando the animal blood test machine market started to grow again.
During the pandemic, there was a significant demand for human diagnostic testing, which led to the prioritization of resources, including laboratory equipment and personnel, towards human healthcare. This redirection of resources may have affected the capacity and availability of veterinary hematology testing.
Despite this, the pandemic has positively impacted the market by increasing pet adoption, increasing pet insurance, and increasing animal healthcare expenditure all over the globe. The pandemic highlighted the importance of zoonotic diseases and the potential for transmission between animals and humans. This may have led to increased interest and emphasis on hematology testing for zoonotic diseases in animals, such as vector-borne diseases or diseases with respiratory manifestations.
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.
Veterinary Hematology Analyzers Market Analysis
Learn more about the key segments shaping this market
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Hey, check this out! The vet blood test machine market has two main typestable-top and portable. Table-top machines come in two flavorsfully automatic and semi-automatic. Portable machines are either cartridge-based or direct sample-based. In 2022, the table-top machines were the big winners, taking the lion's share of the market. Why? They're easy to use, cheap, and not too much of a hassle to maintain. That's why you'll find them in most vet clinics and hospitals.
Based on analysis parameter, the global market is classified into 3-part WBC differential, 5-part WBC differential and other parameters. The 3-part WBC differential segment held the highest market share of 47.7% in 2022. The 3-part BC differential provides count for monocytes, neutrophils, and lymphocyte. They are most commonly used in veterinary hospitals, clinics and reference laboratories due to cost-effectiveness and efficacy. It provides accurate analysis for detecting viral and bacterial infection in animals. These factors collectively facilitate the growth of this segment.
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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.
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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
- 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
