Veterinary Hematology Analyzers Market - By Product [Table-top (Fully Automatic, Semi-automatic), Point-of-care (Cartridge, Direct Sample)], Analysis Parameter (3-part, 5-part), End-user (Hospital, Clinic, Reference Lab), Global Forecast, 2023- 2032

Veterinary Hematology Analyzers Market - By Product [Table-top (Fully Automatic, Semi-automatic), Point-of-care (Cartridge, Direct Sample)], Analysis Parameter (3-part, 5-part), End-user (Hospital, Clinic, Reference Lab), Global Forecast, 2023- 2032

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.

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COVID-19 Impact

During the COVID-19 pandemic, the travel restrictions and lockdown was imposed by government to overcome the pandemic. The veterinary hematology analyzers market was negatively impacted by COVID-19 in the early stages of the pandemic. Under strict travel restrictions during the lockdown, only severe animal cases were allowed to visit veterinary clinics and hospitals, which negatively impacted the growth of this market. The pandemic also caused severe disruptions in the supply chain and manufacturing, which led to reduced production and distribution of the veterinary products. Later, as COVID cases decreased, the restrictions were reduced, and the growth of this market accelerated.

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

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Based on product, the global veterinary hematology analyzers market is segmented into table-top and point-of-care analyzers. The table-top analyzers segment is subdivided into fully automatic and semiautomatic analyzers. Whereas the point-of-care analyzers segment is subdivided into cartridge-based and direct sample-based analyzers. The table-top analyzers segment accounted for the largest market share in 2022. The market size of table-top analyzers segment in 2022 was estimated around USD 61.0 million and is expected to grow at CAGR of 15.2%. The factors such as ease of use, low cost and low maintenance of the devices contribute to the growth of this segment. The table-top analyzers are widely used in veterinary 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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Based on animal type, the global veterinary hematology analyzers market is subdivided into companion animals and livestock animals. The companion animal segment is segmented into dogs, cats, horses, and other companion animals. The livestock animal segment is segmented into cattle, poultry, swine, and other livestock animals. The companion animal segment accounted for the largest market share around 82.5% in 2022. The highest share of this segment is attributed to factors such as rapidly growing adoption of companion animals like dogs and cats in developed countries, increasing number of clinical visits including bloodwork for companion animals, rising focus on pet health, increasing adoption of pet insurance and healthcare expenditure.

Based on end-user, the global market is classified into veterinary hospitals & clinics, veterinary reference laboratories, point-of-care testing, and veterinary research & academic institutes. In 2022, the veterinary hospitals and clinics segment held the highest market share in this market and is expected to grow at CAGR of 16.3% during the forecast period. The increasing prevalence of animal diseases for which the hematology analyzers are used as a diagnostic tool increases the demand for this market. The increasing number of clinical visits including bloodwork and increasing adoption of hematology analyzers for detecting and treating different diseases in animals will facilitate in the growth of the global veterinary hematology analyzers market.

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Based on region, the global market is subdivided into North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa. In 2022, North America veterinary hematology analyzers market was evaluated to be around USD 42.1 million due to the increasing adoption of pet insurance, the rapidly growing number of companion animals, the increased focus on animal health, and availability of technologically advanced healthcare structure. In the North America veterinary hematology analyzers industry, the U.S. segment dominated the market share in 2022 due to the rising adoption of pets and pet insurance, rising prevalence of animal diseases, and increasing animal medicalization rate.

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