Press release
Global Veterinary Point Of Care Diagnostics Market Comprehensive Study: Forecasted Market Size And Growth Rate | Zoetis Inc., IDEXX Laboratories Inc., Heska Corporation, Virbac Animal Health India Pvt Ltd
Veterinary Point Of Care Diagnostics Market Characteristics
The Business Research Company offers in-depth market insights through Veterinary Point Of Care Diagnostics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The veterinary point of care diagnostics market size has grown rapidly in recent years. It will grow from $1.58 billion in 2023 to $1.8 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to education and awareness programs, integration with telemedicine, focus on infectious disease control, regulatory support and approvals, livestock and production animal management..
The veterinary point of care diagnostics market size is expected to see rapid growth in the next few years. It will grow to $2.97 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to increasing pet population, preventive healthcare emphasis, remote and rural access needs, personalized veterinary medicine,global health preparedness.. Major trends in the forecast period include technological advancements, product innovations, consumer preference for home testing..
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Market Segmentation:
The veterinary point of care diagnostics market covered in this report is segmented -
1) By Product : Consumables, Reagents, and Kits, Instruments and Devices
2) By Animal Type: Companion Animals, Livestock Animals
3) By Disease: Infectious Diseases, Metabolic Diseases, Other Diseases
4) By Technology: Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Hematology, Urinalysis, Other Technologies
5) By End User: Veterinary Clinics, Veterinary Hospitals and Academic Institutes, Home Care Settings
Major Driver - Rising Companion Animal Population To Drive Market Growth
The increasing companion animal population is expected to propel the veterinary point-of-care diagnostics market growth going forward. Companion animals are pets who share the residential area with humans. An increase in the companion animal population is increasing the demand for veterinary point-of-care diagnostics that enables faster clinical decision-making in the diagnostic, treatment selection and monitoring, and prognosis processes, as well as operational decision-making and resource utilization. For instance, according to the American Pet Products Association, a US-based not-for-profit industry association's 2021-2022 National Pet Owners Survey, 70% of all US households have a companion animal. Therefore, the increasing companion animal population contributes to the veterinary point-of-care diagnostics market growth.
Competitive Landscape:
Major companies operating in the veterinary point of care diagnostics market report are Zoetis Inc., IDEXX Laboratories Inc., Heska Corporation, Virbac Animal Health India Pvt Ltd, Samsung Neurologica Corporation, Eurolyser Diagnostica GmbH, Randox Laboratories Ltd, Anipoc Ltd, Carestream Health Inc, Fujifilm Sonosite Inc, Neogen Corporation, Mindray Medical International Limited, GE HealthCare Technologies Inc., Abaxis Inc., Agfa-Gevaert N.V., Alvedia, Bio-Rad Laboratories Inc., bioMérieux SA, Bionote Inc., Chembio Diagnostic Systems Inc., Clindiag Systems Co. Ltd., Coris BioConcept, Creative Diagnostics, DiaSys Diagnostic Systems GmbH, Eiken Chemical Co. Ltd., Eurofins Technologies, Fujirebio Diagnostics Inc., Gold Standard Diagnostics Corp., Hangzhou AllTest Biotech Co. Ltd., Hologic Inc., InBios International Inc.
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Top Trend - Product Innovations Transforming The Veterinary Point-Of-Care Diagnostics Market
Major companies operating in the veterinary point-of-care diagnostics market are developing new veterinary analyzers to sustain their position in the market. For instance, in August 2023, Chengdu Seamaty Technology Co., Ltd., a China-based medical equipment manufacturing company launched four veterinary analyzers designed for pet hospitals, emphasizing the crucial role of on-site diagnostics. The innovative devices, including the VG2 Vet Blood Gas Electrolyte Immunoassay Analyzer, VG1 Veterinary Blood Gas & Electrolyte Analyzer, Vi1 Veterinary Fluorescence Immunoassay Analyzer, and VBC30/VBC50 Hematology Analyzers, provide swift and precise diagnostic insights for diseases, immunity assessment, and inflammation monitoring in canines and felines. With user-friendly interfaces and portable designs, these analyzers enable seamless integration into veterinary workflows, enhancing efficiency and facilitating immediate decision-making for optimal patient care.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Veterinary Point Of Care Diagnostics Market Characteristics
3. Veterinary Point Of Care Diagnostics Market Trends And Strategies
4. Veterinary Point Of Care Diagnostics Market - Macro Economic Scenario
5. Veterinary Point Of Care Diagnostics Market Size And Growth
…..
27. Veterinary Point Of Care Diagnostics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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