Veterinary Diagnostics Market Size is estimated to grow at a CAGR of 10.0% during the forecast period

 

From 2022 to 2030, the veterinary diagnostics market is anticipated to expand at a CAGR of 10.0%. 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.

The rising disposable income levels of people in emerging regions, the rising demand for pet insurance, the rise in in-clinic diagnostic procedures, the massive shift toward advanced test techniques that are quick and efficient in producing results, and the growing focus of market players on the development of innovative products are additional factors.

The high cost of advanced diagnostic tests for animals, rising pet-care costs, a lack of qualified veterinarians, and the lack of diagnostic infrastructure in developing nations are, however, factors that are anticipated to restrain the growth of the veterinary diagnostics market to some extent during the forecast period.

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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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

                                   

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