Global Veterinary Point of Care Blood Gas Analyzers Market Expected to Reach $65,982 Thousand by 2023 - Allied Market Research

Thursday, May 10, 2018 Research News
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PORTLAND, Oregon and PUNE, India, May 10, 2018 /PRNewswire/ --

According to a new

report published by Allied Market Research, titled, "Veterinary Point of Care Blood Gas Analyzers Market, by Modality, Animal, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global veterinary point of care blood
gas analyzers market was valued at $47,876 thousand in 2016, and is expected to reach $65,982 thousand by 2023, growing at a CAGR of 4.6% from 2017 to 2023.

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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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Technologically advanced veterinary point of care blood gas analyzers are available in market that increase veterinary practitioners preference over other laboratory analyzers. For example, the demand for battery-operated, wireless point of care blood gas analyzers has increased, due to test convenience and cost-effectiveness. The 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, 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 North American Pet Health Insurance Association (NAPHIA), the total number of pets insured reached 1.6 million at the end of 2015, and grew at an average annual rate of 12.0% from 2014 to the end of 2015.

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Presently, portable blood gas analyzers segment holds the largest market share. However, it is estimated that the demand for handheld blood gas analyzers is expected to increase during forecast period, due to features such as faster outputs, ease of use, and convenience.

Key Findings of the Veterinary Point Of Care Blood Gas Analyzers Market: 

  • The handheld analyzers segment is expected to grow at a CAGR of 7.1% from 2017 to 2023.
  • Veterinary clinics is major revenue contributor in the global market, and is expected to retain dominance throughout the forecast period.
  • Based on animal type, companion animals segment leads the global market, and expected to continue its dominance during the forecast period; currently this segment holds half of the market share.
  • Asia-Pacific is expected to grow at the highest rate, registering a CAGR of 6.9%.

North America held largest share of the global market in 2016, and is expected to remain dominant throughout the forecast period. This is attributed to higher disposable income, rise in number of pets & other domestic animals, stringent regulations enacted by state & federal governments to enhance animal welfare, and pet owner's willingness to pay for veterinary services. On the other hand, Asia-Pacific is expected to show fastest growth, due to upsurge in disposable income, rise in animal health awareness, and increase in pet adoption among the higher and middle-income countries.

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Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas. 

About Us 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact: Shriram Dighe 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free: +1-800-792-5285 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1?855?550-5975


SOURCE Allied Market Research

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