Veterinary Point of Care Blood Gas Analyzers Market Overview 2030:
The global veterinary point of care blood gas analyzers market size 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 in veterinary clinics & laboratories for point of care blood testing. These analyzers are used for blood testing to measure pH, electrolytes, metabolites, and blood gases in animals. Technological advancements in blood gas analyzers and increase in pet ownership are some factors that drive growth of the veterinary point of care blood gas analyzer market. In addition, benefits of point of care testing (POCT) over the laboratory testing and increase in animal health awareness further fuel 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, which is expected to offer profitable opportunities for growth of the veterinary point of care blood gas analyzers market during the forecast period.
Impact of COVID-19 Pandemic on Veterinary Point of Care Blood Gas Analyzers Market
The outbreak of COVID-19 has disrupted workflows in the health care sector around the world. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of health care. The revenue of global veterinary point of care blood gas analyzer market also declined in 2020, owing to nationwide lockdowns, government regulations, and continuous increase in infection rate across numerous countries. Large number of hospitals and clinics have witnessed a drop in number of veterinary patient visits amid COVID-19 ultimately reducing client contact.
Various veterinary organizations across the globe have recommended limiting patient care for acutely ill animals and emergencies, rescheduling annual exams, and elective procedures. Therefore, this factor led to growth of the veterinary point of care blood gas analyzers market growth in 2020. In addition, the pandemic has lowered purchasing power of farm and pet owners. Moreover, several manufacturers are facing drawbacks as the market growth rate decreased from the onset of pandemic and are currently facing interruptions in supply chain activities. However, adoption of handheld blood gas analyzers in home settings have further led to positive market growth during COVID-19. In addition, the market is anticipated to witness recovery in 2021, and is expected to show stable growth for veterinary point of care blood gas analyzers in the future.
Veterinary Point of Care Blood Gas Analyzers Market Segmentation
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.
Segment Review
By modality type, the market is segmented into portable analyzers and handheld analyzers. The portable analyzers segment dominated the global veterinary point of care blood gas analyzer market in 2020, and is expected to remain dominant throughout the forecast period, owing to cost effectivity and test convenience and increase in demand for portable blood gas analyzers.
By Modality Type
Portable Analyzers segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
By animal type, the market is segregated 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 surge in adoption of companion animals across the globe and favorable pet insurance policies.
By end user, the market is classified into veterinary clinics, veterinary laboratories, research laboratories, and others. The veterinary clinics segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period, owing to factors such as growth 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.
By Animal Type
Companion Animals segment is projected as one of the most lucrative segment.
Snapshot of the LAMEA Veterinary Point of Care Blood Gas Analyzers Market
LAMEA offers profitable opportunities for key players operating in the veterinary point of care blood gas analyzers market, thereby registering fastest growth rate during the forecast period, owing to factors such as increase in number of pet owners and higher animal health awareness among veterinary owners driving the market growth in Latin American countries such as Brazil and Argentina. Furthermore, countries such as Saudi Arabia are expected to witness growth during the forecast period, owing to high consumption of meat, increase in demand for protein-rich food, and surge in demand for livestock animals.
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.).
By Region
North America is expected to experience growth at the highest rate, registering a CAGR of 4.3% during the forecast period.
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 explain 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 veterinary point of care blood gas analyzers 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 veterinary point of care blood gas analyzer market.
Veterinary Point of Care Blood Gas Analyzers Market, by Modality Type Report Highlights
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Analyst Review
Veterinary point of care blood gas analyzers are used for testing blood gases, pH, and electrolytes in animal blood samples. Blood gas analyzers are classified into two different types—portable and handheld analyzers. However, portable analyzers are majorly used in point of care blood analysis as it can easily move from one place to another, thus are preferably used in veterinary clinics & laboratories. The global veterinary point of care blood gas analyzers market is expected to exhibit high growth potential during the forecast years. This is attributed to increase in demand for livestock animals, surge in need for animal proteins, and rise in initiatives by different organizations to control livestock diseases drive growth of the veterinary point of care blood gas analyzers market. In addition, growth in number of veterinary clinics and their partnerships with key players further boost the market growth.
North America is expected to dominate the global market during the forecast period, followed by Europe. In addition, Asia-Pacific and LAMEA are expected to offer lucrative opportunities to the key players during the forecast period.
The total market value of veterinary point of care blood gas analyzers market is $375.9 million in 2020.
The forcast period for veterinary point of care blood gas analyzers market is 2021 to 2030
The market value of veterinary point of care blood gas analyzers market in 2021 is $395.48 million.
The base year is 2020 in veterinary point of care blood gas analyzers market
Top companies such as Zoetis Inc. (Abaxis, Inc.), Edan Instruments, Inc, Heska Corporation, IDEXX Laboratories, Inc. and LifeHealth held a high market position in 2020.
The portable analyzers segment is the most influencing segment owing to cost effectivity and test convenience, and increase the demand for portable blood gas analyzers.
Increase in adoption of companion animals, rise in animal health awareness, and surge in expenditure on animal welfare drive the growth of the market. In addition, availability of technologically advanced veterinary point of care blood gas analyzers further fuel market growth.
LAMEA is expected to experience the growth rate of 5.6% during the forecast period, owing to increase number of pet population and growing veterinary health awareness in the region.
Veterinary point-of-care blood gas analyzers consist of small, handheld analyzers used for blood testing to measure pH, electrolytes, metabolites, and blood gases.
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.
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