The veterinary hematology analyzers market size has grown strongly in recent years. It will grow from $0.9 billion in 2023 to $0.98 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historical period can be credited to the rise in pet ownership, advancements in veterinary medicine, the prevalence of animal diseases, increasing awareness of animal health, and the expansion of veterinary services.
The veterinary hematology analyzers market size is expected to see strong growth in the next few years. It will grow to $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the forecast period can be linked to the escalation in pet healthcare expenditure, expansion in animal research, the rising coverage of pet insurance, and the globalization of veterinary practices. Noteworthy trends expected in the forecast period encompass technological advancements, the adoption of point-of-care hematology testing, remote monitoring and connectivity, a heightened focus on small and exotic animals, and the implementation of multiparameter analysis.
The anticipated growth in the veterinary hematology analyzer market is driven by the increasing prevalence of zoonotic diseases in animals. Zoonotic diseases, caused by harmful microorganisms, can be transmitted between animals and humans. Veterinary hematology analyzers play a crucial role in detecting abnormalities in blood parameters in real-time, enabling veterinarians to promptly identify and treat zoonotic infections while implementing necessary preventive measures to curb their spread. For instance, as of December 2022, the European Food Safety Authority (EFSA) reported that in 2021, campylobacteriosis and salmonellosis were the two most frequently reported zoonotic diseases in humans, with a total of 127,840 and 60,050 human cases, respectively. This marked an increase of approximately 7,000 cases for both infections compared to 2020, with a rise of +0.86 and +1.96 confirmed cases per 100,000 population for campylobacteriosis and salmonellosis, respectively, in 2021 compared to 2020. Hence, the rising prevalence of zoonotic diseases in animals is a key driver for the veterinary hematology analyzer market.
The growth of the veterinary hematology analyzer market is also expected to be fueled by an increase in the pet population. The pet population refers to the total number of domesticated animals kept as pets within a specific geographic area. Veterinary hematology analyzers contribute to monitoring and maintaining the health of the pet population by providing accurate and rapid analysis of blood samples. For instance, as of October 2023, the European Pet Food Industry Federation (FEDIAF) reported an 11% growth in the European pet population in 2022, reaching a total of 340 million pets, predominantly comprising cats (127 million) and dogs (104 million). Therefore, the rise in the pet population is a significant factor driving the growth of the veterinary hematology analyzer market.
The veterinary hematology analyzer market is witnessing a significant trend towards product innovations as major companies strive to enhance their market position. One notable example is Zoetis Inc., a US-based veterinary drug company, which introduced the groundbreaking VETSCAN IMAGYST platform in April 2022. This technology represents a unique offering with AI blood smear, AI fecal, and digital cytology image transfer capabilities in a single, compact device. The VETSCAN IMAGYST platform is designed to complement veterinary hematology analyzers such as the VETSCAN HM5 Hematology Analyzer, providing a comprehensive 5-part CBC differential with 22 parameters in less than 4 minutes.
Leading companies in the veterinary hematology analyzer market are placing increased emphasis on introducing state-of-the-art blood analyzers. An example of this trend is exemplified by the ST-200 CC Blood Gas Analyzer-Ultra Smart developed by Sensa Core Medical Instrumentation Pvt. Ltd., an India-based company. Launched in September 2021, the ST-200 CC Blood Gas Analyzer-Ultra Smart is a highly advanced and fully automated blood gas analyzer designed for critical care settings. It enhances diagnostic accuracy and efficiency by providing precise testing capabilities for blood gas analysis. The analyzer features a snap-in electrode design, precise control of calibrator volumes for cost-effective operation, and advanced technology for accurate analysis of blood gases, pH levels, and electrolytes. The ultra-smart design includes an internal barcode scanner for sample identification.
In June 2023, Mars Incorporated, a prominent US-based supplier of animal care services, acquired Heska Corporation in a strategic move to expand its diagnostics and technology portfolio. The acquisition is aimed at accelerating research and development efforts, fostering innovation, and better serving veterinary professionals and pets. Heska Corp., the acquired entity, is recognized for its pioneering work in developing innovative veterinary hematology analyzers, contributing to advancements in animal healthcare.
Major companies operating in the veterinary hematology analyzers market report are Abbott Laboratories, Siemens Healthcare Private Limited, Zoetis Services LLC., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., IDEXX Laboratories Inc., Bio-Rad Laboratories Inc., HORIBA Medical, Sysmex Corp., Chengdu Seamaty Technology Co. Ltd, Getein Biotech Inc., Heska Corporation,Abaxis Inc., Abaxis Inc., HemoCue AB, EKF Diagnostics Holdings PLC, Boule Diagnostics AB, Scil Animal Care Company GmbH, Diatron Mi Apac Private Limited, ERBA Diagnostics Inc., Drew Scientific Inc., Woodley Equipment Company Ltd.,B&E Bio-technology Co. Ltd., Rayto Life and Analytical Sciences Co.Ltd., Genrui Biotech Co. Ltd., Analytical Technologies Limited, Urit Medical Electronics Co. Ltd., Qreserve Inc., Balio Diagnostics, Shezhen Dymind Biotechnology Co. Ltd, Bioevopeak Co. Ltd.
North America was the largest region in the veterinary hematology analyzer market in 2023. The regions covered in the veterinary hematology analyzers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the veterinary hematology analyzers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary categories of veterinary hematology analyzers include table-top analyzers and point-of-care analyzers. Table-top analyzers are laboratory instruments designed for testing samples of different compounds and are available for both companion animals and livestock. They employ various analysis parameters such as 2-part WBC differential, 3-part WBC differential, 5-part WBS differential, among others. These analyzers find application in diverse settings, including research institutes, veterinary hospitals and clinics, veterinary diagnostic centers, point-of-care testing, in-house testing, and more.
The veterinary hematology analyzers market research report is one of a series of new reports that provides veterinary hematology analyzers market statistics, including veterinary hematology analyzers industry global market size, regional shares, competitors with a veterinary hematology analyzers market share, detailed veterinary hematology analyzers market segments, market trends and opportunities, and any further data you may need to thrive in the veterinary hematology analyzers industry. This veterinary hematology analyzer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The veterinary hematology analyzer market consists of sales of manual, semi-automated, and fully automated hematology analyzers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The veterinary hematology analyzers market size is expected to see strong growth in the next few years. It will grow to $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the forecast period can be linked to the escalation in pet healthcare expenditure, expansion in animal research, the rising coverage of pet insurance, and the globalization of veterinary practices. Noteworthy trends expected in the forecast period encompass technological advancements, the adoption of point-of-care hematology testing, remote monitoring and connectivity, a heightened focus on small and exotic animals, and the implementation of multiparameter analysis.
The anticipated growth in the veterinary hematology analyzer market is driven by the increasing prevalence of zoonotic diseases in animals. Zoonotic diseases, caused by harmful microorganisms, can be transmitted between animals and humans. Veterinary hematology analyzers play a crucial role in detecting abnormalities in blood parameters in real-time, enabling veterinarians to promptly identify and treat zoonotic infections while implementing necessary preventive measures to curb their spread. For instance, as of December 2022, the European Food Safety Authority (EFSA) reported that in 2021, campylobacteriosis and salmonellosis were the two most frequently reported zoonotic diseases in humans, with a total of 127,840 and 60,050 human cases, respectively. This marked an increase of approximately 7,000 cases for both infections compared to 2020, with a rise of +0.86 and +1.96 confirmed cases per 100,000 population for campylobacteriosis and salmonellosis, respectively, in 2021 compared to 2020. Hence, the rising prevalence of zoonotic diseases in animals is a key driver for the veterinary hematology analyzer market.
The growth of the veterinary hematology analyzer market is also expected to be fueled by an increase in the pet population. The pet population refers to the total number of domesticated animals kept as pets within a specific geographic area. Veterinary hematology analyzers contribute to monitoring and maintaining the health of the pet population by providing accurate and rapid analysis of blood samples. For instance, as of October 2023, the European Pet Food Industry Federation (FEDIAF) reported an 11% growth in the European pet population in 2022, reaching a total of 340 million pets, predominantly comprising cats (127 million) and dogs (104 million). Therefore, the rise in the pet population is a significant factor driving the growth of the veterinary hematology analyzer market.
The veterinary hematology analyzer market is witnessing a significant trend towards product innovations as major companies strive to enhance their market position. One notable example is Zoetis Inc., a US-based veterinary drug company, which introduced the groundbreaking VETSCAN IMAGYST platform in April 2022. This technology represents a unique offering with AI blood smear, AI fecal, and digital cytology image transfer capabilities in a single, compact device. The VETSCAN IMAGYST platform is designed to complement veterinary hematology analyzers such as the VETSCAN HM5 Hematology Analyzer, providing a comprehensive 5-part CBC differential with 22 parameters in less than 4 minutes.
Leading companies in the veterinary hematology analyzer market are placing increased emphasis on introducing state-of-the-art blood analyzers. An example of this trend is exemplified by the ST-200 CC Blood Gas Analyzer-Ultra Smart developed by Sensa Core Medical Instrumentation Pvt. Ltd., an India-based company. Launched in September 2021, the ST-200 CC Blood Gas Analyzer-Ultra Smart is a highly advanced and fully automated blood gas analyzer designed for critical care settings. It enhances diagnostic accuracy and efficiency by providing precise testing capabilities for blood gas analysis. The analyzer features a snap-in electrode design, precise control of calibrator volumes for cost-effective operation, and advanced technology for accurate analysis of blood gases, pH levels, and electrolytes. The ultra-smart design includes an internal barcode scanner for sample identification.
In June 2023, Mars Incorporated, a prominent US-based supplier of animal care services, acquired Heska Corporation in a strategic move to expand its diagnostics and technology portfolio. The acquisition is aimed at accelerating research and development efforts, fostering innovation, and better serving veterinary professionals and pets. Heska Corp., the acquired entity, is recognized for its pioneering work in developing innovative veterinary hematology analyzers, contributing to advancements in animal healthcare.
Major companies operating in the veterinary hematology analyzers market report are Abbott Laboratories, Siemens Healthcare Private Limited, Zoetis Services LLC., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., IDEXX Laboratories Inc., Bio-Rad Laboratories Inc., HORIBA Medical, Sysmex Corp., Chengdu Seamaty Technology Co. Ltd, Getein Biotech Inc., Heska Corporation,Abaxis Inc., Abaxis Inc., HemoCue AB, EKF Diagnostics Holdings PLC, Boule Diagnostics AB, Scil Animal Care Company GmbH, Diatron Mi Apac Private Limited, ERBA Diagnostics Inc., Drew Scientific Inc., Woodley Equipment Company Ltd.,B&E Bio-technology Co. Ltd., Rayto Life and Analytical Sciences Co.Ltd., Genrui Biotech Co. Ltd., Analytical Technologies Limited, Urit Medical Electronics Co. Ltd., Qreserve Inc., Balio Diagnostics, Shezhen Dymind Biotechnology Co. Ltd, Bioevopeak Co. Ltd.
North America was the largest region in the veterinary hematology analyzer market in 2023. The regions covered in the veterinary hematology analyzers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the veterinary hematology analyzers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary categories of veterinary hematology analyzers include table-top analyzers and point-of-care analyzers. Table-top analyzers are laboratory instruments designed for testing samples of different compounds and are available for both companion animals and livestock. They employ various analysis parameters such as 2-part WBC differential, 3-part WBC differential, 5-part WBS differential, among others. These analyzers find application in diverse settings, including research institutes, veterinary hospitals and clinics, veterinary diagnostic centers, point-of-care testing, in-house testing, and more.
The veterinary hematology analyzers market research report is one of a series of new reports that provides veterinary hematology analyzers market statistics, including veterinary hematology analyzers industry global market size, regional shares, competitors with a veterinary hematology analyzers market share, detailed veterinary hematology analyzers market segments, market trends and opportunities, and any further data you may need to thrive in the veterinary hematology analyzers industry. This veterinary hematology analyzer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The veterinary hematology analyzer market consists of sales of manual, semi-automated, and fully automated hematology analyzers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Veterinary Hematology Analyzers Market Characteristics3. Veterinary Hematology Analyzers Market Trends and Strategies32. Global Veterinary Hematology Analyzers Market Competitive Benchmarking33. Global Veterinary Hematology Analyzers Market Competitive Dashboard34. Key Mergers and Acquisitions in the Veterinary Hematology Analyzers Market
4. Veterinary Hematology Analyzers Market - Macro Economic Scenario
5. Global Veterinary Hematology Analyzers Market Size and Growth
6. Veterinary Hematology Analyzers Market Segmentation
7. Veterinary Hematology Analyzers Market Regional and Country Analysis
8. Asia-Pacific Veterinary Hematology Analyzers Market
9. China Veterinary Hematology Analyzers Market
10. India Veterinary Hematology Analyzers Market
11. Japan Veterinary Hematology Analyzers Market
12. Australia Veterinary Hematology Analyzers Market
13. Indonesia Veterinary Hematology Analyzers Market
14. South Korea Veterinary Hematology Analyzers Market
15. Western Europe Veterinary Hematology Analyzers Market
16. UK Veterinary Hematology Analyzers Market
17. Germany Veterinary Hematology Analyzers Market
18. France Veterinary Hematology Analyzers Market
19. Italy Veterinary Hematology Analyzers Market
20. Spain Veterinary Hematology Analyzers Market
21. Eastern Europe Veterinary Hematology Analyzers Market
22. Russia Veterinary Hematology Analyzers Market
23. North America Veterinary Hematology Analyzers Market
24. USA Veterinary Hematology Analyzers Market
25. Canada Veterinary Hematology Analyzers Market
26. South America Veterinary Hematology Analyzers Market
27. Brazil Veterinary Hematology Analyzers Market
28. Middle East Veterinary Hematology Analyzers Market
29. Africa Veterinary Hematology Analyzers Market
30. Veterinary Hematology Analyzers Market Competitive Landscape and Company Profiles
31. Veterinary Hematology Analyzers Market Other Major and Innovative Companies
35. Veterinary Hematology Analyzers Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Veterinary Hematology Analyzers Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on veterinary hematology analyzers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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Where is the largest and fastest growing market for veterinary hematology analyzers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Product Type: Table Top Analyzer; Point Of Care Analyzer
2) By Animal Type: Companion Animal; Livestock Animals
3) By Analysis Parameter: 2-Part WBC Differential; 3-Part WBC Differential; 5-Part WBS Differential; Other Analysis Parameters
4) By End-Users: Research Institutes; Veterinary Hospitals and clinics; Veterinary Diagnostics Centers; Point-of-care Testing; Inhouse-Testing; Other End-Users
Key Companies Mentioned: Abbott Laboratories; Siemens Healthcare Private Limited; Zoetis Services LLC.; Shenzhen Mindray Bio-Medical Electronics Co. Ltd.; IDEXX Laboratories Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Abbott Laboratories
- Siemens Healthcare Private Limited
- Zoetis Services LLC.
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
- IDEXX Laboratories Inc.
- Bio-Rad Laboratories Inc.
- HORIBA Medical
- Sysmex Corp.
- Chengdu Seamaty Technology Co. Ltd
- Getein Biotech Inc.
- Heska Corporation
- Abaxis Inc.
- Abaxis Inc.
- HemoCue AB
- EKF Diagnostics Holdings PLC
- Boule Diagnostics AB
- Scil Animal Care Company GmbH
- Diatron Mi Apac Private Limited
- ERBA Diagnostics Inc.
- Drew Scientific Inc.
- Woodley Equipment Company Ltd.
- B&E Bio-technology Co. Ltd.
- Rayto Life and Analytical Sciences Co.Ltd.
- Genrui Biotech Co. Ltd.
- Analytical Technologies Limited
- Urit Medical Electronics Co. Ltd.
- Qreserve Inc.
- Balio Diagnostics
- Shezhen Dymind Biotechnology Co. Ltd
- Bioevopeak Co. Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 0.98 Billion |
| Forecasted Market Value ( USD | $ 1.31 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
