Veterinary Immunodiagnostics Market Projected to Reach $2.71 Billion by 2029

According to the latest report from Meticulous Research®, the veterinary immunodiagnostics market is projected to grow at a CAGR of 9.3% from 2022, reaching $2.71 billion by 2029. This growth is largely driven by the rising prevalence of animal diseases, the availability of specialized immunodiagnostic tests, and advancements in technology. Additionally, factors such as the increasing pet population and the growing demand for animal-derived food products are expected to fuel market expansion. Emerging economies are anticipated to offer significant growth opportunities for the global veterinary immunodiagnostics market, although challenges such as inadequate diagnostic infrastructure in developing regions may hinder progress.

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The market is segmented by Product (Analyzers and Consumables), Animal Type (Companion Animals and Livestock), Technology (ELISA, Radioimmunoassay, Rapid Tests, and Others), End User (Reference Laboratories, Veterinary Hospitals & Clinics, and Point of Care Testing), and Geography. The report also provides a detailed analysis of industry competitors and regional market dynamics.

Product: In 2022, the consumables segment is expected to hold the largest market share due to their higher sensitivity, accuracy, faster diagnostic capabilities, and cost-effectiveness.

Technology: The ELISA segment is projected to dominate the market in 2022, thanks to ongoing developments in biomarkers, cost efficiency, and the growing use of automated ELISA platforms.

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Animal Type: The livestock segment is anticipated to lead the market in 2022, driven by the global demand for food production and increased awareness of animal health.

End User: Reference laboratories are expected to account for the largest share in 2022, propelled by the rising trend of hospitals and clinics outsourcing diagnostic testing.

Geographic Review: The report covers major regions including North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, Australia, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa. North America is expected to lead the market in 2022, followed by Europe and Asia-Pacific, supported by high awareness of animal health, robust veterinary diagnostics infrastructure, and significant spending on pet health.

Key Players: Prominent players in the veterinary immunodiagnostics market include IDEXX Laboratories, Inc. (U.S.), Zoetis Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Virbac (France), Heska Corporation (U.S.), Randox Laboratories, Ltd. (U.S.), Neogen Corporation (U.S.), QIAGEN N.V. (Germany), Abaxis, Inc. (U.S.), and bioMérieux S.A. (France).

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Related Reports :

Veterinary Vaccines Market : https://www.meticulousresearch.com/product/veterinary-vaccines-market-5618

Veterinary Ultrasound Market : https://www.meticulousresearch.com/product/veterinary-ultrasound-market-5425

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This release was published on openPR.