The size of the European veterinary hematology analyzers market was worth USD 199.05 million in 2022. It is expected to grow at a CAGR of 6.5% to reach USD 272.71 million by 2027. It captures 25% of the global market.
Growing awareness regarding the benefits of a veterinary hematology analyzer across the EU region, increased awareness of animal healthcare and the rising prevalence of zoonotic diseases, as well as an increase in demand for animal-derived food, are a few of the key factors driving the expansion of the veterinary hematology analyzers market in Europe. Furthermore, increased initiatives taken by governments and non-governmental organizations to enhance animal health through improved veterinary healthcare infrastructure are predicted to enhance the market's growth rate during the forecast period.
Most importantly, advances in diagnostic technologies that enable safe, automated, and easy-to-use hematology analyzers are projected to propel the market forward. Furthermore, throughout the estimated period, an increase in food-borne infections is expected to fuel the market. Tabletop hematology analyzers with cutting-edge technology have been steadily hitting the market, with numerous more in the works. New types are projected to fill significant gaps in the market, such as precise results from multi-parameter analysis and reduced downtime. These new technologies are expected to continue to accelerate the demand for tabletop hematology analyzers across Europe during the forecast period.
There is a slew of limits and issues that could stifle market growth. Lack of qualified healthcare professionals and high product costs, as well as a lack of government initiatives in developing nations, would likely function as market barriers for the veterinary hematology analyzer's growth. However, unfavorable market conditions are estimated to be the market's biggest and most pressing challenge.
This research report on the European veterinary hematology analyzers market has been segmented and sub-segmented into the following categories.
By Product:
By Analysis Parameter:
By End User:
By Country:
Geographically, the European market accounted for the second most significant share in the global veterinary hematology analyzers market in 2020 and is expected to maintain this position throughout the projection period. The robust growth of the veterinary hematology analyzers market in the region is attributed to a significant increase in pet adoption, a growing number of veterinary hospitals and clinics, and high disposable income.
The UK, followed by Germany, is projected to play a dominating role in the European veterinary hematology analyzers market during the forecast period.
KEY MARKET PLAYERS:
Companies playing a promising role in the European veterinary hematology analyzers market profiled in this report are Drew Scientific Inc., URIT Medical, Boule Medical AB, scil animal care, Mindray, HORIBA Medical, Clindiag Systems, IDEXX Laboratories, Inc., Abaxis, Inc., Heska Corporation, Siemens Healthcare Diagnostics Inc., HemoCue AB, Diatron and Sysmex.
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