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As the increse of animal adoption and animal health expenditure, and the rise in prevalence of zoonotic diseases, it is expected that the veterinary chemistry analyzers market is going to grow at a CAGR of 8.3% over the forecast period.
As more and more people adopt the dogs and cats as the companion, the developed countries have the leading position in companion animal ownership.Data published by APPA, in 2018, stated that the total pet healthcare expenditure is estimated to be USD 72.13 billion by the end of the year, while the expenditure in 2017 was USD 69.51 billion.
North America is expected to dominate the veterinary chemistry analyzers market, over the forecast period, owing to factors such as rising pet adoption and increasing per capita animal healthcare expenditure. Approximately 90 million dogs are owned in the United States, as reported by American Pet Products Association (APPA). It is also stated that 34% of dogs are purchased from breeders, while 23% of dogs and 31% of cats are obtained from animal shelters or humane societies. In addition, growing awareness about animal health, favorable and advanced infrastructure, helpful initiatives by the government, and rise in product innovation are some other factors propelling the growth of the veterinary chemistry analyzers market in North America.
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