Veterinary Urinalysis Market - Forecasts to 2022

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The global veterinary urinalysis market is expected to reach USD 610 million by 2022 from USD 430 million in 2017, growing at a CAGR of 7.2% from 2017 to 2022. Rising demand for pet insurance and growing animal health expenditure; innovations in veterinary diagnostics; increasing incidence of zoonotic diseases; growth in the number of veterinary practitioners are the major factors that is expected to boost the overall veterinary urinalysis market. Apart from this, increasing awareness about animal healthcare along with increasing adoption of companion animals across the globe is the another driving factor for veterinary urinalysis market.
North America dominates the veterinary urinalysis market with the U.S. accounting for a major market share. Increasing adoption of companion animals is one of the major driver for this market in the region. For instance, according to Animal Humane Society (AHS), U.S., the adoption of companion animal in the 2016 was 22,104 and the adoption of animals increased by 1,257 when compared to previous year. Technological advancements in the urinalysis products, availability of automatic and semi-automatic devices are other driving factors for this market. The Asian market is poised to grow at the highest CAGR during the forecast period owing to increasing government investments in the animal healthcare and increasing zoonotic diseases in the region. The rising focus of prominent players on the Asian veterinary urinalysis market is another factor driving its growth. Furthermore, emerging countries such as India and China provides opportunities for market players to generate more revenue.
Prominent players in the veterinary urinalysis market are BPC BIOSED SRL (ITALY), IDEXX Laboratories, Inc (U.S.), Urit Medical (China), Arkray Inc (U.S.), Transasia Bio Medicals Ltd. (India), Acon Laboratories, Inc. (U.S.), MWI Veterinary Supply Co. (U.S.), Teco Diagnostics (U.S.), Guangzhou Mecan Medical Limited (China), Guangzhou Maya Medical Equipment Co., Ltd (China)

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