Veterinary Diagnostics Market is expected to witness growth at a CAGR of 10.0% during the forecast period

 

The global veterinary diagnostics market is expected to witness growth at a CAGR of 10.0% from 2021 to 2030. The World Organization for Animal Health estimates that there will be about 117 animal illnesses, diseases, and infestations by the year 2020.

The term "veterinary diagnostics" refers to the use of numerous tests and techniques in the medical diagnosis of diseases in animals brought on by a variety of microorganisms, including viruses, bacteria, pathogens, and fungi, among others. The examinations are carried out by examining tissue, blood, and excrement samples from companion and livestock animals.

 

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GROWTH DRIVERS

The rising costs for animal health care and the number of veterinarians in various regions, the rising populations of companion and livestock animals, the rising demand for and consumption of foods derived from animals, the growing awareness of animal health, the expanding use of advanced diagnostics, and the rising acceptance of these methods are just a few of the factors that are contributing to the prevalence of zoonotic and infectious diseases worldwide. Additionally, governments' increased emphasis on building cutting-edge veterinary hospitals and healthcare facilities is significantly accelerating the market's growth.

Point-of-care diagnostics are in high demand due to their convenience for both animals and their carers, who can benefit from quicker clinical test findings and time savings due to direct assessment. According to the AVMA, there were over 26,000 veterinary hospitals and clinics in the United States in 2019. Of them, more than 80% provided point-of-care diagnostics.

To expand its product line, Idexx Laboratories introduced new updates for the SediVue Dx urine sediment analyzer, Catalyst Dx, and Catalyst One chemistry analyzers in January 2020. So, it is anticipated that over the projected period, there will be plenty of potential prospects for the worldwide veterinary diagnostics market due to the rising demand for and use of point-of-care therapies for animals.

 

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VETERINARY DIAGNOSTICS MARKET SEGMENTATION

By Product Type

·         Instruments

·         Consumables



By Animal Type

·         Companion Animals

o   Cats

o   Dogs

o   Horses

o   Other Companion Animals

·         Livestock

o   Cattle

o   Pigs

o   Poultry

o   Other Livestock

 

By Technology

·         Immunodiagnostics

o   Lateral Flow Assays

o   ELISA Tests

o   Allergen-specific Immunodiagnostic Tests

o   Immunoassay Analyzers

o   Other Immunodiagnostic Products

·         Clinical Biochemistry

o   Clinical Chemistry Analysis

o   Glucose Monitoring

o   Blood Gas & Electrolyte Analysis

·         Molecular Diagnostics

o   Polymerase Chain Reaction (PCR) Tests

o   Microarrays

o   Other Molecular Diagnostic Products

·         Hematology

o   Hematology Cartridges

o   Hematology Analyzers

·         Urinalysis

o   Urinalysis Clips & Cartridges/Panels

o   Urine Analyzers

o   Urine Test Strips

·         Other Veterinary Diagnostic Technologies

 

By Region

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

KEY COMPANIES IN VETERINARY DIAGNOSTICS MARKET

·         Thermo Fisher Scientific Inc.

·         Zoetis Inc.

·         IDEXX Laboratories Inc.

·         NEOGEN Corporation

·         Bio-Rad Laboratories Inc.

·         bioMérieux SA

·         Virbac

·         Heska Corporation

·         Agrolabo S.p.A.

·         INDICAL BIOSCIENCE GmbH

·         Randox Laboratories Ltd.

·         IDvet

·         Biopanda Reagents

·         Precision Biosensor Inc.

·         Covetrus

·         iM3Vet Pty Ltd.

·         Intervet Inc.

·         QIAGEN

·         Other Players

 

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