DUBLIN, October 18, 2022 /PRNewswire/ — The “veterinary diagnostics market by product (instruments, consumables), technology (immunodiagnostics (ELISA), molecular diagnostics (PCR, DNA chips), hematology), animal (dogs, cats, cattle, pigs), end user (Hospitals and Clinics) – Global Forecast to 2027 report has been added to from ResearchAndMarkets.com offer.
Veterinary diagnostics refers to the diagnosis of animal diseases and disorders using various veterinary diagnostic test kits, tools and instruments such as clinical chemistry analyzers, hematology analyzers, glucose monitoring systems , urine analyzers, blood gas and electrolyte analyzers and ELISA test kits.
The Global Veterinary Diagnostics Market is Expected to Reach $4.4 billion by 2027 from $2.8 billion in 2022, at a CAGR of 9.2%. The growth of the market can be largely attributed to the growing demand for food products of animal origin, growing demand for pet insurance, rising expenditure on animal health, and growth in the number of veterinary practitioners and income levels in developed economies. On the other hand, lack of animal health awareness and shortage of veterinarians in emerging markets poses a challenge to major players operating in the market.
The consumables segment accounted for the largest share of the global veterinary diagnostics market
Based on product, the veterinary diagnostics market is segmented into consumables and instruments. In 2021, the consumables segment accounted for the largest share of the global veterinary diagnostics market. Consumables include Blood Glucose Strips, Blood Glucose Test Strips, Urine Test Strips, ELISA Rapid Test Kits, Lateral Flow Rapid Test Kits, PCR Tests, Clips and Preloaded Reagent Cartridges or Panels , as well as other test reagents and consumables. The large share of the consumables segment can be attributed to the increasing prevalence of zoonotic diseases and growing animal population.
The clinical biochemistry segment accounted for the largest share of the global veterinary diagnostics market
Based on technology, the veterinary diagnostics market is segmented into clinical biochemistry, immunodiagnostics, molecular diagnostics, hematology, urinalysis, and other veterinary diagnostic technologies (including microbiology and histopathology testing). In 2021, the clinical biochemistry segment accounted for the largest share of the global veterinary diagnostics market. Clinical biochemistry analyzers are more widely adopted in veterinary diagnostic laboratories, resulting in a higher share of the veterinary diagnostic market.
Companion Animals Segment is Expected to Record the Highest Growth Over the Forecast Period
Based on animal type, the veterinary diagnostics market is segmented into companion animals and livestock. The companion animal segment is expected to register the highest growth during the forecast period. This can be attributed to the growth in the pet market, primarily due to the increasing adoption of pets due to increasing urbanization, rising expenditure for pet care, rising demand for pet insurance, growing adoption of animal-assisted therapy, economic growth. , and the increasing incidence of age-related diseases in pets.
The Asia Pacific the region is expected to record the highest CAGR in 2021
Geographically, the veterinary diagnostics market is segmented into North America, Europe, Asia Pacific, Latin Americaand the Middle East & Africa. The Asia Pacific The region is expected to register the highest CAGR during the forecast period. Growth in pet adoption, increased awareness of animal health, and increased animal health spending per capita, especially in India and Chinacontribute to the growth of the APAC veterinary diagnostics market.
- Pet population growth
- Growing demand for food products of animal origin
- Increased incidence of transboundary and zoonotic diseases
- Growing demand for pet insurance and growing spending on animal health
- Growing numbers of practicing veterinarians and rising income levels in developed economies
- Increase disease control and prevention measures
- Rising Pet Sitting Costs
- High costs of veterinary diagnostic tests
- Increased use of PCR test panels to rule out COVID-19 virus in animals
- Untapped Emerging Markets
- Lack of animal health awareness in emerging countries
- Shortage of veterinary practitioners in developing markets
Main topics covered:
2 Research methodology
3 Executive summary
4 premium previews
5 Market Overview
6 Veterinary Diagnostics Market, By Product
7 Veterinary Diagnostics Market, By Technology
8 Veterinary Diagnostics Market, By Animal Type
9 Veterinary Diagnostics Market, By End User
10 Veterinary Diagnostics Market, by Region
11 Competitive landscape
12 company profiles
- Agrolab SPA
- Biomerieux SA
- Bio-Rad Laboratories, Inc.
- Bionote Inc.
- Biogal Galed Laboratories
- Biopanda reagents
- Euroimmun Medizinische Labordiagnostika AG
- Fujifilm Holding Corporation
- Fassisi GmbH
- Heska Company
- Idexx Laboratories, Inc.
- Indical Bioscience GmbH
- Neogen Corporation
- Precision Biosensor, Inc.
- Randox Laboratories Ltd.
- Shenzhen Mindray Animal Medical Technology Co.Ltd.
- Skyer, Inc.
- Shenzhen Bioeasy Biotechnology Co.Ltd.
- Skyla Company
- ThermoFisher Scientific, Inc.
- Zoetis, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/6cefgq
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