Rising prevalence of various chronic ailments in animals is contributing significantly to the growth of the global veterinary chemistry analyzers market says fortune business insights in a report titled “Veterinary Chemistry Analyzers Market Size, Share and Global Trend By Analyzer (Bench-Top Analyzers, Portable Analyzers), By Product (Instruments, Consumables), By Application (Blood chemistry analysis, Blood gas & electrolyte analysis, Urine analysis, Others), By End User (Veterinary hospitals & Clinics, Veterinary diagnostic centers), and Geography Forecast till 2026.” Increasing awareness about animal health and welfare is a key factor driving the global veterinary chemistry analyzers market.
Increasing Cases of Zoonotic Diseases to Aid Growth
Veterinary chemistry analyzers are also called veterinary medical products. These products are used for conducting assays & biochemical testing for veterinary diagnosis, prevention, monitoring, and treatment of diseases in animals. Veterinary chemistry analyzers are effective and can perform as a critical tool for the prevention of animal diseases thus aiding animal health &welfare. The rising prevalence of animal diseases, increasing cases of Zoonotic diseases along with rising pet ownership are some of the factors favoring the growth of the global veterinary chemistry analyzers.
Growing demand for meat consumption and animal-based products in around the globe is also propelling growth of the veterinary chemistry analyzers market. Moreover, the utilization of animals for agriculture purposes, easy affordable treatment and accessibility for animals along with rising awareness about animal health and well-being are also contributing significantly to the global Veterinary chemistry analyzers. Nonetheless, the cost of the veterinary chemistry analyzers including installation, purchasing and maintenance along with lack of technologically skilled veterinary professionals are the factors restricting the growth of the global veterinary chemistry analyzers.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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IDEXX’s Launch of SDMA to Give Impetus to Market
IDEXX Laboratories, Inc., an American multination corporation launched SDMA, a kidney diagnostic test for treating kidney diseases in dogs and cats. The demand for the test is likely to rise as it comprises a new renal biomarker, which can identify the kidney disease a lot earlier than traditional methods. This factor is predicted to boost growth for the global veterinary chemistry analyzers market. Chronic kidney disease (CKD) is prevalent in cats and dogs, causing permanent loss of kidney function, with new diagnostics methods detection is further predicted to drive the veterinary chemistry analyzers.
Collaboration among key companies for enhancing diagnostics for animals is expected to foster growth for the global veterinary chemistry analyzers. For instance, Zoetis Inc., and Abaxis Inc., announced the definitive merger agreement, as Zoetis Inc. will acquire Abaxis Inc. to enhance its presence in veterinary diagnostics.
North America to Dominate the Global Market
Geographically, the global veterinary chemistry analyzer market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is presently dominating the global veterinary chemistry analyzers market. The region is predicted to lead the global veterinary chemistry analyzers market during the forecast period owing to several factors such as increasing prevalence of animal diseases especially zoonotic and infectious, the rising pet adoption rates, a growing pool of veterinarians and a large number of hospitals & clinics and rising expenditure on animal health.
Asia Pacific is predicted to rapidly grow due to the emerging market such as India china. Rising cases of animal disorders, large livestock animal pool, growing awareness of animal health and new regulations by government are some of the factors anticipated to boost the veterinary chemistry analyzer market in the region.
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