Albany, NY, May 17, 2019 (GLOBE NEWSWIRE) -- Growing prevalence of zoonotic diseases is projected to boost demand for veterinary chemistry analyzer globally. In addition, increasing demand to test animal-derived food products is projected to impact the global veterinary chemistry analyzers market growth positively. Transparency Market Research states that the global market of veterinary chemistry analyzer is projected to reflect a CAGR of 7.8% over the forecast period, 2017-2022.
Pets have been an integral part of lives and have been supporting human development in different ways. From the start of this century, pet adoption has witnessed a prolific rise all over the globe. With this, companies started developing better healthcare maintenance, and provision of services such as increased pet insurance rate. Moreover, the chances of developing zoonotic diseases simultaneously increased with growing interaction with pets. This has encouraged veterinary practitioners to use veterinary chemistry analyzers.
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Statistics presented by the World Health Organization in 2015 showed that around 429,000 deaths are caused by malaria and nearly 212 million clinical cases came up in the same year. Spreading of diseases such as salmonella, coli infection, dengue, and chikungunya is also caused due to increased pet ownership. Thus, proper analysis and the growing necessity for rapid and convenient diagnostic test equipment have definitely augmented growth in the global veterinary chemistry analyzer market.
Importance of animal proteins led the demand for livestock production. The consequent increase in the sale of animal-based products further provides a fillip to the global veterinary chemistry analyzer market. Changing perception towards animal-based products and growing acceptance for new flavors also triggered growth in this market.
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According to the data revealed by the American Pet Products Association (APPA), Americans are spending on pet care more than ever before. Spending has crossed more than US$69.51 bn in 2017 in North America. Increasing number of companion pets adopted and high spending on their maintenance also benefits growth in the global veterinary chemistry analyzer market.
Government Pressing on Checking Adulteration in Animal-Based Products
Higher consumption of animal-derived food is a key trend driving demand in the global veterinary chemistry analyzer market. Attributing to this factor, various government organizations are imposing regulations to eliminate contamination and illegal residue in animal-derived products through veterinary chemistry analyzer.
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Emphasis given on delivering precise results and exploit the testing flexibility has further boosted growth for veterinary chemistry analyzer. Additionally, the importance given to hematology tests has spurred growth in the global veterinary chemistry analyzer market.
Market Players
Major players in the global market of veterinary chemistry analyzer are Alfa Wassermann, Inc., Abaxis, Inc., Arkray, Inc., Biochemical Systems International Srl, Diasys Diagnostic Systems GmbH, Chengdu Seamaty Technology Co., Ltd., Eurolyser Diagnostica GmbH, Elitechgroup, Idexx Laboratories, Inc., Randox Laboratories Ltd.
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