The global automatic veterinary biochemistry analyzer market is estimated to reach the value for US$ 681.0 Mn by the end of the year 2020
Meridian Market Consultants (MMC) has published a new report titled, “2020-2025 Global and Regional Automatic Veterinary Biochemistry Analyzer Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report (Enhanced Version)”
Global Automatic Veterinary Biochemistry Analyzer Market, By Product (Bench-Top Veterinary Biochemistry Analyzer, Portable Veterinary Biochemistry Analyzer), By Application (Pet Hospital, Veterinary Station, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2025.
The global automatic veterinary biochemistry analyzer market is estimated to reach the value of US$ 681.0 Mn by the end of the year 2020, and expected to reach the value of US$ 896.4 Mn in the year 2025 at a CAGR of 7.4% during the forecast period of 2020 to 2025.
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As per the report, the rising prevalence of diseases and serious disorders in animals across the world is majorly contributing to the growth of the global automatic veterinary biochemistry analyzer market.
Basically, in order to perform immediate health checkup and diagnosis of diseases in animals, the veterinary biochemistry analyzers are employed. They also serve its application in routine tests as well as emergency situations.
The veterinary or animal healthcare products industry and the key manufacturers of the global market are focused on research and development activities and have been going through a period of technological enhancements, which have found effective cure for numerous treatments, thereby boosting the growth of the global automatic veterinary biochemistry analyzer market.
In addition to that, the rising awareness with regard to the health of animals and an increase in favorable financing circumstances together make strong market prospects for veterinary biochemistry analyzers, especially in developing countries, thus giving a positive growth to the global automatic veterinary biochemistry analyzer market.
Additionally, major factors like the rising population of animals and growing trend as well as increased adoption of pets are also playing an essential role in propelling the growth of the global automatic veterinary biochemistry analyzer market.
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Moreover, the rise in the incidence of zoonotic diseases and increasing animal health expenditure as well as the rise in the count of veterinary practitioners and their income levels in the developed economies across the world is also driving the growth of the global automatic veterinary biochemistry analyzer market.
In addition, the stimulating demand for animal insurance as well as animal-derived food products is also giving a positive push to the growth of the global automatic veterinary biochemistry analyzer market.
Furthermore, the emerging markets including China, India, and Latin America regions are expected to witness the highest growth rate over the forthcoming future, giving a boost to the growth of the global automatic veterinary biochemistry analyzer market.
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MMC Study identifies some of the key participating players in the Automatic Veterinary Biochemistry Analyzer Market globally are Abaxis,Inc., Heska, Diagno-Vision Products Corporation, Idexx Laboratories, Inc., Mindray Medical International Limited, Neogen Corporation, Thermo Fisher Scientific, Virbac SA, Woodley Equipment Company Ltd., Zoetis, Inc.
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