Global Veterinary Hematology Analyzers Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

A veterinary hematology analyzer is a device used in animal healthcare to produce a complete blood count (CBC) or hemogram. It analyzes the blood’s produced constituents quantitatively and qualitatively, including red blood cells (erythrocytes), white blood cells (leukocytes), and platelets (thrombocytes). Hematology analyzers are used in the medical profession to perform white blood cell counts, complete blood counts, reticulocyte analyses, and coagulation assays on blood samples.

Sizing and Forecast
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 historic period can be attributed to increase in pet ownership, advancements in veterinary medicine, prevalence of animal diseases, growing awareness of animal health, 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 growth in the forecast period can be attributed to rising pet healthcare expenditure, growth in animal research, increasing pet insurance coverage, globalization of veterinary practices. Major trends in the forecast period include technological advancements, point-of-care hematology testing, remote monitoring and connectivity, focus on small and exotic animals, multiparameter analysis.

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Segmentation & Regional Insights
The veterinary hematology analyzers market covered in this report is segmented –
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

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

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Major Driver Impacting Market Growth
The increasing prevalence of zoonotic diseases in animals is expected to propel the growth of the veterinary hematology analyzer market going forward. A zoonotic disease is an infectious disease caused by harmful microorganisms such as bacteria, viruses, fungi, and parasites that are spread between animals and humans. Veterinary hematology analyzers can detect anomalies in blood parameters in real time, allowing veterinarians to quickly identify zoonotic infections, commence appropriate treatment, and adopt essential preventative measures to keep them from spreading. For instance, in December 2022, according to the European Food Safety Authority (EFSA), an Italy-based agency for the European Union that provides independent scientific advice on food-related risks, in 2021, the two most often reported zoonotic diseases in humans were the gastrointestinal disorders campylobacteriosis and salmonellosis, with a total of 127,840 and 60,050 human cases, respectively which is an increase of roughly 7,000 cases for both infections compared to 2020. Further, there is an increase of +0.86 and +1.96 confirmed cases per 100,000 population for campylobacteriosis and salmonellosis, respectively, in 2021 compared to 2020. Therefore, the growing prevalence of zoonotic disease in animals drives the veterinary hematology analyzers market.

Key Industry Players
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.

The veterinary hematology analyzers market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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