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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.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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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, and grew at an average annual rate of 12.0%.
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.
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.
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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The key players profiled in this report include Abaxis, Inc., Edan Instruments, Inc., Heska Corporation, IDEXX Laboratories, Inc., and LifeHealth, LLC.
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