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(Medical-NewsWire.com, May 24, 2018 ) The Global Veterinary Hematology Analyzers market size was around USD 700 million in 2017. It is expected to grow at a CAGR of 6.8% to reach USD 972.64 million by 2022.
This market has grown impressively since the launch of the first specialized haematology analysers for animals. Several government bodies along with leading players in the animal health industry are carrying out research and development activities to develop effective therapeutics and diagnostics for animals.
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Since 2002, the U.S. Department of Agriculture (USDA) has developed the National Animal Health Laboratory Network in collaboration with state and university diagnostic laboratories to address many issues that hold back the development of the veterinary diagnostics area of the country’s veterinary healthcare industry. Across several other countries across the globe as well, a vast rise in government initiatives in the animal health industry are taking place and are propelling the market for veterinary haematology analysers.
On the basis of product, the global veterinary haematology analysers market has been segmented in the report into table top analysers and point of care analysers. Of these, the segment of table top analysers is presently the leading revenue generator and is expected to retain dominance over the report’s forecast period as well. Multidimensional analysis, minimal maintenance, low sample volume requirement, and rising outbreaks of animal diseases are reasons behind this trend. Technologically advanced table top haematology analysers have been steadily hitting the market and several are currently in development. New varieties are expected to address key unmet needs in two key ways: accurate results with multi-parameter analysis and reduced downtime. These new technologies will continue to drive the demand for table top haematology analysers across the globe in the near future.
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By geography the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America is the current market leader and is expected to remain so in the aforementioned forecast period. Higher adoption of pets, increasing number of clinics, and rising disposable income are few factors attributable to the observable trend mentioned above. Asia pacific is estimated to witness the highest growth rate during the aforementioned forecast period. Large number of livestock animals and rise in per capita income and the resultant change in lifestyle and expenditure patterns of the population are driving the demand for veterinary haematology analysers in the region.
Key companies profiled in the report include Drew Scientific Inc., URIT Medical, Boule Medical AB, scil animal care, Mindray, HORIBA Medical, Clindiag Systems, IDEXX Laboratories, Inc., Abaxis, Inc., Heska Corporation, Siemens Healthcare Diagnostics Inc. , HemoCue AB, Diatron and Sysmex.
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