Veterinary Hematology Analyzers Market

Veterinary Hematology Analyzers Market Outlook (2023-2033)

The global veterinary hematology analyzers market is valued at US$ 971.6 million in 2023 and is expected to increase at a CAGR of 5% to reach US$ 1.58 billion by the end of 2033.

Veterinary hematology analyzers are further classified into table top analyzers and point-of-care analyzers, based on product. Table top analyzers are further segmented into fully automatic analyzers and semi-automatic analyzers, and point-of-care analyzers are segmented into cartridge-based analyzers and direct sample-based analyzers.

Global demand for table top analyzers is predicted to rise at a CAGR of 5.5% and the sales of point-of-care analyzers are expected to increase at a CAGR of 5% during the next 10 years, respectively. Table top animal hematology analyzers are seeing rapid growth due to elements such as multidimensional analysis, low sample volume requirements, little maintenance, and rising animal disease outbreaks.

Table top vet hematology analyzers with cutting-edge technologies have been progressively entering the market, and numerous more are now under development. Reduced downtime and reliable results from the multi-parameter analysis are two main ways that new kinds are anticipated to solve critical unmet demands. In the coming years, these new technologies will continue to fuel demand for table top hematology analyzers around the world.

Bigger bench-top veterinary haematology analyzer devices, with more complicated built-in fluidics, sometimes copies of those used in normal laboratories.

Hematology is a branch of medicine that focuses on studying, diagnosing, and treating diseases of the blood. Hematology analyzers are specialised electronic devices that measure blood's hemoglobin and hematocrit levels as well as the quantity of red, leucocytes, and platelets. Technological advancements in hematology analyzers have accelerated their demand.

The complete blood count (CBC) procedure was conducted manually by an expert under a microscope under the old method. A slow and laborious procedure known as the cyanmethemoglobin method can also be used to manually identify hemoglobin.

The brand-new, highly-developed veterinary hematology analyzer uses the most recent technology and can process several samples in a single hour. The new systems can be developed in such a way that they can support a large number of analyzers, slide strainers, and archiving facilities due to modular structures and advancements in automation.

Veterinary hematology analyzer devices are made for various animal species. Specific equipment is created to test the many traits of various animal species in accordance with the demands or add-ons.

Over the coming years, the market for veterinary hematology analyzers is anticipated to be driven by the increasing prevalence of zoonotic disease and public awareness of animal healthcare. Furthermore, an increase in the number of pets and a rise in the demand for food made from animals are expected to boost the demand for veterinary hematology analyzers in the coming years.

Furthermore, it is also estimated that an increase in food-borne illnesses will fuel the growth of the veterinary hematology analyzers market during the projected period.

Report Attributes	Details
Market Size (2023E)	US$ 971.6 Million
Forecasted Market Value (2033F)	US$ 1.58 Billion
Global Market Growth Rate (2023-2033)	5% CAGR
China Market Growth Rate (2023-2033)	5% CAGR
Japan Market Growth Rate (2023-2033)	5% CAGR
Germany Market Growth Rate (2023-2033)	4.5% CAGR
Key Companies Profiled	Abaxis, Inc. Boule Medical AB Clindiag Systems Co., Ltd. Diatron MI Zrt Drew Scientific Inc. HemoCue AB Heska Corporation Horiba Medical USA Idexx Laboratories, Inc. Mindray Medical International Ltd. Siemens Healthcare Diagnostics Inc. Sysmex Corporation Urit Medical

Why is the Usage of Veterinary Hematology Analyzers Increasing Steadily?

“Adoption of Advanced Diagnostic & Treatment Procedures for Animals”

Since the introduction of the first specialised hematology analyzer for animals, the veterinary hematology analyzers market has expanded dramatically across the globe. Currently, emerging nations around the world are adopting more advanced diagnostic devices for animals.

To create efficient treatments and diagnostics for animals, several government agencies and top firms in the animal health sector are doing research and development activities. The majority of veterinary research is focused on understanding the causes of diseases, identifying diseases, responding to diseases with drugs and vaccinations, and managing common diseases seen in animals.

• According to a National Research Council study, veterinary diagnostics are still a relatively underdeveloped aspect of the national animal healthcare system in the United States when compared to areas such as medications, vaccinations, and therapies.
• Since 2002, the U.S. Department of Agriculture (USDA) has worked with state and university diagnostic laboratories to create the National Animal Health Laboratory Network to address several difficulties impeding the growth of the country's veterinary diagnostics sector.

A significant increase in government activities in the animal healthcare sector is occurring throughout many other nations around the globe as well, which is boosting the demand for veterinary analyzers.

One of the main factors driving the demand for veterinary hematology analyzers is the increased desire for automated hematology equipment, along with rising technological improvements and the incorporation of fundamental flow-cytometry techniques in automated hematology analyzers.

Furthermore, the demand for veterinary hematology analyzers is increasing due to the growing need for highly effective hematology analyzers and high-sensitivity point-of-care (POC) hematology testing.

Which Factors Limit the Sales of Veterinary Hematology Analyzers in Developing Nations?

“High Cost of Advanced Vet Hematology Analyzers & Shortage of Qualified Medical Experts”

The high cost of advanced veterinary hematology analyzers, threats from new entrants, and fierce competition among established companies are likely to hamper the sales of animal hematology analyzers. Furthermore, factors such as the shortage of qualified medical experts and a lack of knowledge about animal healthcare are anticipated to limit the demand for veterinary hematology analyzers.

Country-wise Analysis

What is Driving the Sales of Veterinary Hematology Analyzers in the United States?

“Rising Rate of Pet Adoption and Growing Number of Veterinary Hospitals & Clinics”

The United States currently dominates the North American veterinary hematology analyzers in terms of revenue share and is anticipated to same during the forecast period.

Some of the factors fuelling the sales of veterinary hematology analyzers are the sharp increase in pet adoption, the expanding number of veterinary hospitals and clinics, and the rising pet healthcare spending.

• According to an American Pet Products Association (APPA) poll from 2021–2022, 70% of homes have pets. In the United States, 69 million households (among 70%) have dogs and 45.3 million homes have cats.

The simple accessibility of sophisticated veterinary point-of-care analyzers and the presence of top industry players are significantly boosting the market's expansion in the country.

How is Demand for Veterinary Hematology Analyzers Developing in European Countries?

“Developing Animal Healthcare Facilities and Rising Awareness of Animal Diseases”

Sales of veterinary hematology analyzers in Germany are expected to progress at a CAGR of 4.5% during the forecast period.

Demand for veterinary hematology analyzers is anticipated to develop as a result of rising public awareness of animal diseases, increased use of animal healthcare facilities, and the companion insurance healthcare program used in Germany to increase the effectiveness of the country's animal healthcare systems.

The United Kingdom is focusing more on the development of biotech and the invention of veterinary hematology analyzers used in the diagnosis of zoonotic illnesses, which is predicted to generate a favourable environment for the creation of veterinary medicines in high-income nations.

Why are Sales of Veterinary Hematology Analyzers Increasing Rapidly in Asia Pacific?

“Rising Demand for Advanced Veterinary Hematology Analyzers”

The top marketplaces for veterinary hematology analyzers in the Asia Pacific region are Japan, China, South Korea, Singapore, and India. Sales of veterinary hematology analyzers are predicted to increase at the fastest pace in the Asia Pacific region during the forecast period.

The prevalence of lifestyle disorders such as overweight and diabetes is rising quickly among animals such as dogs and cats, which is driving up the demand for cutting-edge veterinary hematology analyzers.

To take advantage of these opportunities, major market players are emphasizing the introduction of innovative analyzers.

• For example, in 2021, ALR Technologies, a Singapore-based company that produces veterinary medical equipment, announced the release of the first Continuous Glucose Monitor (CGM) for diabetic domestic pets. According to estimates, the launch of these new products will boost the sales of veterinary hematology analyzers in the Asia Pacific region.

The region's market will profit from aspects such as the high meat consumption rate, rising fear of zoonotic disease, and the fast-growing animal healthcare sector. The demand for veterinary hematology analyzers in the region is also being driven by a significant number of livestock animals and the high adoption of companion animals.

Category-wise Analysis

Which End User Makes High Use of Veterinary Hematology Analyzers?

“Veterinary Hospitals & Clinics Primary Choice for First Treatment”

Growing pet adoption and an increase in walk-in patients at hospitals & clinics are factors contributing to veterinary clinics' expanding market share. The majority of pet care is provided in veterinary clinics since for all primary care for animals, clinics are the first choice. Clinics now account for a larger share of the market.

Demand for veterinary hematology analyzers is expanding primarily due to the rising spending power of pet owners on veterinary care.

Pet owners take great care of their animals in case of illness or injury and are very worried about their pets' health. In the coming years, this will boost sales of veterinary hematology analyzers significantly.

• 80% of pet owners, according to the American Hospital Association, treat their animals like children, which has increased the entire cost of veterinary care.

By working with several veterinary associations, veterinary hospitals and clinics introduce a variety of plans and programs under the umbrella of veterinary wellness. Clients have the opportunity to learn about the value of providing their pets with preventative care due to veterinary wellness programmes. The early detection of chronic diseases via veterinary care is beneficial for determining the best course of treatment.

Thus the above-mentioned factors show high demand for vet hematology analyzers from hospitals and clinics.

Competitive Landscape

Some of the key players in the veterinary hematology analyzers market are Abaxis, Inc., Boule Diagnostics AB, Clindiag Systems Co., Ltd., Diatron MI Zrt, Drew Scientific Inc., HemoCue AB, Heska Corporation, Horiba Medical USA, Idexx Laboratories, Inc., and Mindray Medical International Ltd.

These leading companies in the veterinary hematology analyzers market are consistently investing in R&D to introduce cutting-edge testing solutions and update their product lines. Furthermore, to obtain a competitive edge in the market, they are engaging in a variety of growth tactics, including the construction of additional facilities in desirable locations, collaborations and partnerships with end users, and price cuts of their products.

• Scil Animal Care Company GmbH, a provider of veterinary point-of-care diagnostics, was acquired by Heska Corp. in April 2020.
• A Swedish business called Boule Diagnostics AB is a leading producer of devices for diagnosing and testing diseases. In the discipline of hematology, the company specialises in the research, production, and sales of complete blood count (CBC) systems. It offers reagents, cleaning agents, blood calibrators, controllers, and analyzers for hematology systems in addition to complementary accessories for usage in human and veterinary laboratories. Five brands make up the company's product portfolio: Clinical Diagnostic Solutions, Quintus, Medonic, Exigo, and Swelab.
• The company's main target market is small and medium-sized clinics, hospitals, and laboratories that provide outpatient care, as well as other diagnostic testing organizations that provide services for both human and veterinary hematology.

Segments of Veterinary Hematology Analyzers Industry Research

• By Product :

  • Table Top Analyzers
    • Fully Automatic Analyzers
    • Semi-automatic Analyzers
  • Point-of-Care Analyzers
    • Cartridge-based Analyzers
    • Direct Sample-based Analyzers

• By Analysis Parameter :

  • 2-Part WBC Differential
  • 3-Part WBC Differential
  • 5-Part WBC Differential

• By End User :

  • Research Institutes
  • Veterinary Diagnostic Centers
  • Veterinary Hospitals & Clinics

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA