Global Veterinary Hematology Analyzers Market - 2024-2031

Global Veterinary Hematology Analyzers Market - 2024-2031

Global Veterinary Hematology Analyzers Market reached US$ XX million in 2023 and is expected to reach US$ XX million by 2031, growing with a CAGR of XX % during the forecast period 2024-2031.

Veterinary hematology analyzers are sophisticated instruments used in veterinary medicine to analyze blood samples from animals. These analyzers are designed to provide comprehensive information about the cellular components of blood, including red blood cells (RBCs), white blood cells (WBCs), and platelets. Veterinary hematology analyzers are capable of automating the entire process of blood analysis, from sample preparation to result generation.

This automation minimizes the potential for human error and ensures consistency and accuracy in the results. These analyzers are equipped with mechanisms for handling various types of blood samples, including whole blood, serum, and plasma. They may also feature options for analyzing samples with different anticoagulants.

Market Dynamics: Drivers and Restraints

Rising pet ownership

Rising pet ownership worldwide, coupled with growing awareness about pet health and wellness, is driving the demand for veterinary hematology analyzers. Pet owners are increasingly seeking comprehensive diagnostic services, including blood tests, to monitor the health of their pets. Pet owners are increasingly focused on ensuring the overall health and well-being of their pets. Regular blood tests, facilitated by veterinary hematology analyzers, allow veterinarians to monitor various blood parameters, detect early signs of disease, and provide timely interventions to maintain or improve the health of pets.

For instance, according to article published in Forbes magazine 2024, pet ownership in U.S. had jumped significantly over the past three decades. As of 2024, 66% of U.S. households (86.9 million homes) own a pet. Dogs are more popular than cats in the U.S. As of 2022, 44.5% of U.S. households own dogs and 29% of households own cats. Between 2016 and 2022, the percentage of U.S. households who own dogs increased by 6.1 percentage points, from 38.4% to 44.5%, while the percentage of households that own cats increased by 4 percentage points, from 25% to 29%.

Additionally, pets are increasingly considered as family members, leading to a shift in pet care practices towards those akin to human healthcare. This includes regular health check-ups, screenings, and diagnostic tests, such as blood tests, to monitor and manage their health. Veterinary hematology analyzers play a critical role in meeting the growing demand for advanced diagnostic services in veterinary medicine.

Market Dynamics: Restraint

Challenges in sample preparation

Sample preparation for hematology analysis may pose challenges, especially in veterinary settings where sample quality and quantity can vary significantly depending on the species, condition of the animal, and sample collection technique. Inadequate sample preparation can affect the accuracy and reliability of test results, leading to potential dissatisfaction among users.

Sample preparation for these exotic species can be challenging due to their unique anatomy, physiology, and behavior. For instance, obtaining blood samples from small or delicate exotic species, such as birds, reptiles, or small mammals, may require specialized handling techniques and equipment. This difficulty in sample preparation can deter veterinarians from investing in hematology analyzers designed for exotic species testing, thus limiting market growth in this niche segment.

Segment Analysis

The global veterinary hematology analyzers market is segmented based on product type, technology, animal type, end-user and region.

The automated from the product type segment accounted for approximately 63.21% of share

Automated veterinary hematology analyzers streamline the process of analyzing blood samples by automating tasks that were previously done manually. This efficiency leads to quicker turnaround times for test results, allowing veterinarians to diagnose and treat animals more promptly. These analyzers provide highly accurate and reliable results, reducing the margin of error compared to manual methods. This accuracy is crucial for diagnosing various conditions accurately and ensuring appropriate treatment plans for animals.

Automated analyzers offer a wide range of testing capabilities, allowing veterinarians to conduct comprehensive blood analyses beyond basic parameters like red blood cell count, white blood cell count, and platelet count. They can also provide detailed information on cell morphology, differential leukocyte counts, and more. By providing quick, accurate, and comprehensive blood analysis, automated hematology analyzers contribute to improved veterinary care.

Veterinarians can make more informed decisions regarding diagnosis, treatment, and monitoring of various health conditions in animals. The demand for automated veterinary hematology analyzers continues to grow as more veterinary practices recognize the benefits they offer. This has led to the development of more advanced and specialized analyzers tailored to the specific needs of veterinarians, further driving segment growth.

Geographical Analysis

North America accounted for approximately 38.12% of the market share in 2022

North America is known for its robust technological infrastructure and innovation in the healthcare sector. The region has witnessed the development and adoption of advanced veterinary hematology analyzers that offer improved accuracy, efficiency, and expanded testing capabilities.

For instance, Zoetis VETSCAN HM5 is an easy-to-use veterinary hematology analyzer that reports a full, 5-part CBC differential with 22-parameters in less than 4 minutes. Based on highly-reproducible impedance technology, the VETSCAN HM5 supports 15 species and provides direct eosinophil counts that can save valuable time when it comes to allergic and parasitic diagnoses at the point of care.

Additionally, North America is home to many leading veterinary research institutions, pharmaceutical companies, and biotechnology firms. These entities drive innovation in veterinary medicine by investing in research and development initiatives focused on improving diagnostic tools and treatment options for animals. The development of cutting-edge veterinary hematology analyzers is often a result of such initiatives. Thus, above factors help to boost the region growth.

COVID-19 Impact Analysis

Economic uncertainty caused by the pandemic led to financial constraints for both veterinary practices and pet owners. Veterinary clinics faced revenue losses due to reduced client visits and elective procedures, limiting their ability to invest in new equipment such as hematology analyzers. Veterinary clinics had to adapt to new operating procedures and safety protocols to mitigate the spread of COVID-19.

To maintain continuity of care while minimizing in-person interactions, many veterinary practices expanded their use of telemedicine and remote monitoring technologies. While these technologies can complement traditional diagnostic methods, they may not fully replace the need for in-house hematology analyzers for comprehensive blood analysis.

Market Segmentation

By Product Type
• Automated
• Semi-Automated

By Technology
• Laser-Based
• Electrical Impedance
• Flow Cytometry-Based

By Animal Type
• Companion Animals
• Livestock Animals
• Equine
• Poultry
• Others

By End-User
• Veterinary Hospitals
• Veterinary Clinics
• Research Laboratories
• Veterinary Diagnostic Centers

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the market include Zoetis Inc, Siemens Healthineers, Sysmex Corporation, Drew Scientific Inc, Mindray Medical International Limited, Heska Corporation, HORIBA Medical, Boule Diagnostics AB, Nihon Kohden Corporation, Scil Animal Care Company GmbH among others.

Why Purchase the Report?
• To visualize the global veterinary hematology analyzers market segmentation based on product type, technology, animal type, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of veterinary hematology analyzers market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global veterinary hematology analyzers market report would provide approximately 69 tables, 58 figures and 187 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies