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Veterinary Chemistry Analyzers Market Size (2024 - 2029)

The veterinary chemistry analyzers market is projected to experience significant growth over the forecast period, driven by increased awareness of animal health and the rising prevalence of diseases among animals. The market's expansion is further supported by the growing adoption of companion animals and the heightened concerns of pet owners regarding pet healthcare. Strategic initiatives by market players, such as product launches and acquisitions, are also expected to enhance market presence and accessibility. However, challenges such as the high cost of analyzers, a shortage of veterinarians, and a lack of skilled farm workers may impede market growth.

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Market Size of Veterinary Chemistry Analyzers Industry

Veterinary Chemistry Analyzers Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 1.64 Billion
Market Size (2029) USD 2.58 Billion
CAGR (2024 - 2029) 9.50 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Veterinary Chemistry Analyzers Market Major Players

*Disclaimer: Major Players sorted in no particular order

Veterinary Chemistry Analyzers Market Analysis

The Veterinary Chemistry Analyzers Market size is estimated at USD 1.64 billion in 2024, and is expected to reach USD 2.58 billion by 2029, growing at a CAGR of 9.5% during the forecast period (2024-2029).

  • The veterinary chemistry analyzers market has been impacted by the COVID-19 pandemic, leading to disruptions in veterinary services and supply chains, as well as shortages of veterinary analyzers in the initial phase of the pandemic due to manufacturing site lockdowns and export bans. However, increased awareness of animal health and well-being among pet and animal caretakers has driven demand for animal care and ultimately increased the use of veterinary analyzers in the later phase of the pandemic.
  • For instance, a research study conducted by Banfield Pet Hospital in the United States revealed that 84% of respondents felt more aware of their pets' health, and 37% paid more attention to their pets' care during the pandemic. The rising prevalence of animal diseases is expected to boost market growth, as different animal species tested positive for the virus that caused COVID-19 during the pandemic. The high prevalence of viral diseases in animals is expected to propel the demand for veterinary chemistry analyzers for the diagnosis of diseases.
  • Furthermore, the increasing adoption of companion animals and concerns of pet owners for pet healthcare is expected to drive market growth. In the United Kingdom, it was estimated that 59% of households had pets in 2021, with rabbits, guinea pigs, tortoises, and turtles being some of the most commonly owned companion animals. This high percentage of households owning companion animals is expected to drive the demand for chemistry analyzers for companion animal diagnosis and treatment.
  • Strategic initiatives such as product launches, expansion, and acquisitions by market players are also expected to contribute to market growth. For example, HORIBA Medical's acquisition of MedTest Holdings, Inc. in March 2021 expanded its market position and increased the availability of veterinary chemistry analyzers to various regions, thus propelling the market growth.
  • Despite the anticipated growth in the veterinary chemistry analyzers market due to the rising burden of diseases and high pet adoption, there are potential obstacles to market growth, such as the high cost associated with veterinary chemistry analyzers, the lack of veterinarians, and the shortage of skilled farm workers.

Veterinary Chemistry Analyzers Industry Segmentation

As per the scope of the report, veterinary chemistry analyzers are used to determine certain metabolites, proteins, electrolytes, and/or drugs in samples of serum, urine, plasma, cerebrospinal fluid, and/or other body fluids of animals for the diagnosis and treatment of diseases in animals. 

The veterinary chemistry analyzers market is segmented by type (portable and table-top), product (instruments and consumables), application (blood chemistry analysis, blood gas and electrolyte analysis, urinalysis, and glucose monitoring), animal type (farm animals and companion animals), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. 

The report offers the value (in USD million) for the above segments.

By Type
Portable
Table-Top
By Product
Instruments
Consumables
By Application
Blood Chemistry Analysis
Blood Gas and Electrolyte Analysis
Urinalysis
Glucose Monitoring
By Animal Type
Farm Animals
Companion Animals
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Veterinary Chemistry Analyzers Market Size Summary

The veterinary chemistry analyzers market is poised for substantial growth, driven by increasing awareness of animal health and the rising prevalence of animal diseases. The market has experienced disruptions due to the COVID-19 pandemic, which initially led to supply chain challenges and shortages of analyzers. However, the later phases saw a surge in demand as pet owners became more conscious of their pets' health. The growing adoption of companion animals and heightened concerns for their healthcare are further propelling market expansion. Strategic initiatives by key players, such as product launches and acquisitions, are also contributing to the market's growth trajectory. Despite these positive trends, challenges such as high costs and a shortage of skilled professionals may impede market progress.

The companion animal segment is expected to witness significant growth, fueled by increased pet adoptions and rising healthcare expenditures by pet owners. The introduction of advanced diagnostic and treatment products is set to enhance this segment's expansion. North America is anticipated to hold a substantial market share, supported by rising pet adoption rates, increased spending on animal healthcare, and a strong presence of industry players. The availability of pet insurance is also expected to drive market growth, as it encourages higher spending on pet health. The market landscape is fragmented, with numerous global and regional companies competing for market share, including prominent players like IDEXX Laboratories, Zoetis Inc., and Heska Corporation.

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Veterinary Chemistry Analyzers Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increase in Animal Adoption and Animal Healthcare Expenditure

      2. 1.2.2 Rise in the Prevalence of Animal Diseases

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost Associated with Veterinary Chemistry Analyzers

      2. 1.3.2 Lack of Veterinarians and Shortage of Skilled Farm Workers

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Type

      1. 2.1.1 Portable

      2. 2.1.2 Table-Top

    2. 2.2 By Product

      1. 2.2.1 Instruments

      2. 2.2.2 Consumables

    3. 2.3 By Application

      1. 2.3.1 Blood Chemistry Analysis

      2. 2.3.2 Blood Gas and Electrolyte Analysis

      3. 2.3.3 Urinalysis

      4. 2.3.4 Glucose Monitoring

    4. 2.4 By Animal Type

      1. 2.4.1 Farm Animals

      2. 2.4.2 Companion Animals

    5. 2.5 Geography

      1. 2.5.1 North America

        1. 2.5.1.1 United States

        2. 2.5.1.2 Canada

        3. 2.5.1.3 Mexico

      2. 2.5.2 Europe

        1. 2.5.2.1 Germany

        2. 2.5.2.2 United Kingdom

        3. 2.5.2.3 France

        4. 2.5.2.4 Italy

        5. 2.5.2.5 Spain

        6. 2.5.2.6 Rest of Europe

      3. 2.5.3 Asia-Pacific

        1. 2.5.3.1 China

        2. 2.5.3.2 Japan

        3. 2.5.3.3 India

        4. 2.5.3.4 Australia

        5. 2.5.3.5 South Korea

        6. 2.5.3.6 Rest of Asia-Pacific

      4. 2.5.4 Middle East and Africa

        1. 2.5.4.1 GCC

        2. 2.5.4.2 South Africa

        3. 2.5.4.3 Rest of Middle East and Africa

      5. 2.5.5 South America

        1. 2.5.5.1 Brazil

        2. 2.5.5.2 Argentina

        3. 2.5.5.3 Rest of South America

Veterinary Chemistry Analyzers Market Size FAQs

The Veterinary Chemistry Analyzers Market size is expected to reach USD 1.64 billion in 2024 and grow at a CAGR of 9.5% to reach USD 2.58 billion by 2029.

In 2024, the Veterinary Chemistry Analyzers Market size is expected to reach USD 1.64 billion.

Veterinary Chemistry Analyzers Report Snapshots

Veterinary Chemistry Analyzers Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)