The global veterinary point of care blood gas analyzers market was valued at $375.9 million in 2020, and is projected to reach $580.01 million by 2030, registering a CAGR of 4.3% from 2021 to 2030.
Veterinary point-of-care blood gas analyzers consist of small, handheld analyzers used for blood testing to measure pH, electrolytes, metabolites, and blood gases in animals. Point-of-care blood gas analyzers offer convenience and faster outputs, and are thus widely used in veterinary settings that include academic veterinary medical centers, private clinics, and remote area veterinary medical centers.
The veterinary point of care blood gas analyzers market is expected to grow at a significant rate during the forecast period, owing to rise in animal health awareness, surge in expenditure on animal welfare, and increase in adoption of companion animals. For instance, according to the European Pet Food Industry Federation (FEDIAF), at least one pet animal was owned in an estimated 85 million European households in 2019. In addition, POCT (Point-of-care testing) has attracted attention of veterinary practitioners majorly due to faster results, accuracy, advance technologies, ease of handling, and test convenience further fuel growth of the market. Moreover, availability of technological advanced blood gas analyzers boost growth of the market. However, poor demand veterinary point of care blood gas analyzer in under developed countries hamper growth of the market. On the other hand, key manufacturers are in the process of expanding their veterinary point of care blood gas analyzer business in emerging nations such as China and India, owing to rise in animal health awareness in these countries is expected to offer profitable opportunities for growth of the market during the forecast period.
The global veterinary point of care blood gas analyzers market is segmented on the basis of modality type, animal type, end user, and region. On the basis of modality type, the market is divided into portable analyzers and handheld analyzers. By animal type, it is classified into companion animals, poultry & dairy animals, livestock animals, and others. According to end user, it is classified into veterinary clinics, veterinary laboratories, research laboratories, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players profiled in the report include Edan Instruments, Inc., Heska Corporation, IDEXX Laboratories, Inc., i-SENS, Inc., LifeHealth, LLC., Nova Biomedical, Seamaty Technology, Sensa Core Medical Instrumentation, and Vepalabs, Zoetis Inc. (Abaxis, Inc.).
Veterinary point-of-care blood gas analyzers consist of small, handheld analyzers used for blood testing to measure pH, electrolytes, metabolites, and blood gases in animals. Point-of-care blood gas analyzers offer convenience and faster outputs, and are thus widely used in veterinary settings that include academic veterinary medical centers, private clinics, and remote area veterinary medical centers.
The veterinary point of care blood gas analyzers market is expected to grow at a significant rate during the forecast period, owing to rise in animal health awareness, surge in expenditure on animal welfare, and increase in adoption of companion animals. For instance, according to the European Pet Food Industry Federation (FEDIAF), at least one pet animal was owned in an estimated 85 million European households in 2019. In addition, POCT (Point-of-care testing) has attracted attention of veterinary practitioners majorly due to faster results, accuracy, advance technologies, ease of handling, and test convenience further fuel growth of the market. Moreover, availability of technological advanced blood gas analyzers boost growth of the market. However, poor demand veterinary point of care blood gas analyzer in under developed countries hamper growth of the market. On the other hand, key manufacturers are in the process of expanding their veterinary point of care blood gas analyzer business in emerging nations such as China and India, owing to rise in animal health awareness in these countries is expected to offer profitable opportunities for growth of the market during the forecast period.
The global veterinary point of care blood gas analyzers market is segmented on the basis of modality type, animal type, end user, and region. On the basis of modality type, the market is divided into portable analyzers and handheld analyzers. By animal type, it is classified into companion animals, poultry & dairy animals, livestock animals, and others. According to end user, it is classified into veterinary clinics, veterinary laboratories, research laboratories, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players profiled in the report include Edan Instruments, Inc., Heska Corporation, IDEXX Laboratories, Inc., i-SENS, Inc., LifeHealth, LLC., Nova Biomedical, Seamaty Technology, Sensa Core Medical Instrumentation, and Vepalabs, Zoetis Inc. (Abaxis, Inc.).
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global veterinary point of care blood gas analyzers market along with the current trends and future estimations to elucidate the imminent investment pockets
- A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report
- Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing market opportunities
- Extensive analysis of the key segments of the industry helps to understand the application and products of veterinary point of care blood gas analyzers used across the globe
- Key market players and their strategies have been analyzed to understand the competitive outlook of the market
KEY MARKET SEGMENTS
By Modality Type
- Portable Analyzers
- Handheld Analyzers
By Animal Type
- Companion Animals
- Poultry & Dairy animals
- Livestock Animals
- Others
By End User
- Veterinary Clinics
- Veterinary Laboratories
- Research Laboratories
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- saudi Arabia
- South Africa
- Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
- Edan Instruments, Inc
- Heska Corporation
- IDEXX Laboratories, Inc
- i-SENS, Inc
- LifeHealth, LLC
- Nova Biomedical
- Seamaty Technology Co Ltd
- Sensa Core Medical Instrumentation
- Vepalabs
- Zoetis Inc (Abaxis, Inc)
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Veterinary Point of Care Blood Gas Analyzers Market, by Modality Type
Chapter 5: Veterinary Point of Care Blood Gas Analyzers Market, by Animal Type
Chapter 6: Veterinary Point of Care Blood Gas Analyzers Market, by End-user
Chapter 7: Veterinary Point of Care Blood Gas Analyzers Market, by Region
Chapter 8: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Veterinary Point of Care Blood Gas Analyzers Market, by modality type, animal type, and end user: global opportunity analysis and industry forecast, 2021–2030, the global veterinary point of care blood gas analyzers market size was valued at $0.37 billion in 2020, and is projected to reach $0.62 billion by 2030 registering a CAGR of 4.3% from 2021 to 2030.Veterinary point-of-care blood gas analyzers are used in veterinary clinics & laboratories for point of care blood testing. These analyzers are mostly used to measure blood pH, gases, and electrolytes in blood specimens.
Availability of technologically advanced veterinary point of care blood gas analyzers are available in the market that increase preferences of veterinary practitioners over other laboratory analyzers, which drive growth of the market. For instance, demand for battery-operated, wireless point of care blood gas analyzers has increased, owing to test convenience and cost-effectiveness. In addition, growth of the global veterinary point of care blood gas analyzers market is driven by increase in spending on animal health, stringent regulation for animal health, and rise in number of veterinary clinics & veterinary practitioners.
Furthermore, rise in adoption of companion animals and favorable pet insurance policies fuel the market growth. According to the reports prepared by North American Pet Health Insurance Association (NAPHIA), pet health insurance recorded a maximum growth in 2017, with total number of pets insured reaching approximately 2 million in the U.S. and Canada. Increase in pet insurance by 17% in gross written premiums as compared to 2016 was observed. However, low demand veterinary point of care blood gas analyzer in under developed countries is expected to hamper growth of the veterinary point of care blood gas analyzers market.
COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. The global veterinary point of care blood gas analyzers market also declined in 2020, owing to global economic recession led by COVID-19. However, the market is anticipated to witness recovery in 2021, and show stable growth for veterinary point of care blood gas analyzers in the future.
The global veterinary point of care blood gas analyzers market is segmented on the basis of modality, animal, end user, and region. Based on modality, the market is bifurcated into portable analyzers and handheld analyzers. The portable analyzers segment was the major shareholder in 2020, owing to cost effectivity and test convenience and increase in demand for portable blood gas analyzers. However, it is estimated that the demand for handheld blood gas analyzers would increase during the forecast period, owing to features such as faster outputs, ease of use, and convenience.
By animal type, it is segmented into companion animals, poultry & dairy animals, livestock animals, and others. The companion animals segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to increase in adoption of companion animals across the globe and favorable pet insurance policies.
On the basis of end user, it is classified into veterinary clinics, veterinary laboratories, research laboratories, and others. The veterinary clinics segment acquired the largest share in 2020, and is expected to remain dominant throughout the forecast period. This is attributed surge in partnership between key players and veterinary clinics, rise in number of mobile veterinary practitioners, growth of veterinary critical care units, and availability of affordable veterinary point of care blood gas analyzers.
Key Findings Of The Study
- By modality, the portable analyzer segment held largest share in the global veterinary point of care blood gas analyzers market in 2020
- By animal type, the companion animal segment held largest market share in 2020, and is expected to remain dominant throughout the forecast period
- By end user, the veterinary clinics segment dominated the global veterinary point of care blood gas analyzers market in 2020, and is anticipated to continue this trend during the forecast period
- By region, North America is expected to experience growth at the highest rate, registering a CAGR of 43% during the forecast period
- North America accounted for the largest share of the global veterinary point of care blood gas analyzers market in 2020, and is expected to remain dominant throughout the forecast period. This is attributed by higher disposable income, higher number of pets & other domestic animals, stringent regulations enacted by state and federal governments to enhance animal welfare and willingness of pet owners to pay for veterinary services On the other hand, LAMEA is expected to show fastest market growth over the forecast period, majorly owing to increase number of pet population and growing veterinary health awareness in the region
Companies Mentioned
- Edan Instruments, Inc.
- Heska Corporation
- IDEXX Laboratories, Inc.
- i-SENS, Inc.
- LifeHealth, LLC.
- Nova Biomedical
- Seamaty Technology
- Sensa Core Medical Instrumentation
- Vepalabs
- Zoetis Inc. (Abaxis, Inc.).
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 192 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 375.9 million |
| Forecasted Market Value ( USD | $ 580.01 million |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
