Portland, OR -- (SBWIRE) -- 05/23/2018 -- The Global Veterinary Point Of Care Blood Gas Analyzers Market generated $47,876 thousand in 2016, and is anticipated to reach $65,982 thousand by 2023, growing at a CAGR of 4.6% from 2017 to 2023. Veterinary blood gas analyzers are used to measure pH, blood gases, electrolytes, and metabolites parameters in blood specimen. They offer test convenience, and facilitate rapid diagnosis.

Increase in adoption of companion animals, technological advancement in blood gas analyzers, rise in animal health awareness, increase in expenditure on animal welfare are the major drivers of the global veterinary point of care blood gas analyzers market. However, poor demand from underdeveloped countries in Asia and Africa is expected to impede the market growth. On the contrary, huge market potential in the developing regions is expected to offer lucrative opportunities for market expansion during the forecast period.

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, animal, end user, and region. Based on modality, the market is bifurcated into portable and handheld analyzers. By animal type, it is categorized into companion animals, poultry & dairy animals, livestock animals, and others. According to end user, it is fragmented into veterinary clinics, veterinary laboratories, research laboratories, and others. Depending on region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Segment Review

Three types of veterinary blood gas analyzers available in the market are benchtop, portable, and handheld. However, in point of care veterinary blood gas testing, only portable and handheld analyzers are used. Presently, portable analyzers segment is major revenue contributor, and is anticipated to dominate the market during the forecast period. This is attributed to the fact that these analyzers can be easily moved from one place to another, thus are preferably used in veterinary clinics & laboratories.

Based on end user, the global veterinary point of care blood gas analyzers market is segmented into veterinary clinics, veterinary laboratories, research laboratories, and others.
Presently, veterinary clinics generates the highest revenue, and is expected to continue this trend during the forecast period. Increase in number of key players (Heska Corporation, Abaxis Inc., and others) partnership with veterinary clinics is major factor driving factor of the veterinary clinics segment. Moreover, increase in number of veterinary clinics and availability of affordable blood gas analyzers for private veterinary clinics supplement the market growth.

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Snapshot of Asia-Pacific Veterinary Point Of Care Blood Gas Analyzers Market

Asia-Pacific is expected to witness high demand during the forecast period, owing to high population base, rise in disposable income, and improvement in animal health awareness. In addition, increase in importance of livestock animals, surge in demand for protein-rich animal foods, rise in consumption of meat & dairy products, increase in number of pet adoption, and upsurge in number of veterinary clinics are expected to drive the growth of veterinary point of care blood gas analyzers market in Asia-Pacific.

Veterinary Point Of Care Blood Gas Analyzers Market Key Segments:

By Modality

- Portable Analyzers
- Handheld Analyzers

By Animal

- Companion Animals
- Poultry & Dairy animals
- Livestock Animals
- Others

By End User

- Veterinary Clinics
- Veterinary Laboratories
- Research Laboratories
- Others