Veterinary Infectious Disease Diagnostics, Global Market Report, Trends, Growth 2024

The Business Research Company recently released a comprehensive report on the Global Veterinary Infectious Disease Diagnostics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The veterinary infectious disease diagnostics market size has grown strongly in recent years. It will grow from $1.77 billion in 2023 to $1.95 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to increasing pet ownership, rising awareness, government initiatives.

The veterinary infectious disease diagnostics market size is expected to see strong growth in the next few years. It will grow to $2.82 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to emerging diseases, increased research and development, globalization of veterinary practices, growing livestock population. Major trends in the forecast period include technological innovations, rapid adoption of point-of-care testing, integration of molecular diagnostics, digitalization in veterinary healthcare, expansion of product portfolios, collaborations and partnerships, customized diagnostics for different animal species.

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Market Drivers and Trends:

The increasing incidence of transboundary and zoonotic diseases such as rabies is expected to propel the growth of the veterinary infectious disease diagnostics market going forward. Zoonoses are diseases and infections that are transferred spontaneously between humans and vertebrate animals. Veterinary infectious disease diagnostics are used to detect rabies in pets and animals. These devices are used to prevent animals from causing death. For instance, in 2021, according to the World Health Organization (WHO), a Swiss-based government agency, rabies disease was found in over 150 nations and territories. Dogs are the most common source of human rabies deaths, accounting for up to 99% of all rabies transmissions. Children under the age of 15 make up 40% of those bitten by suspected rabid animals. Infection kills tens of thousands of people every year, mostly in Asia and Africa. Therefore, the increasing incidence of transboundary and zoonotic diseases is driving the growth of the veterinary infectious disease diagnostics market.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

Zoetis Inc., IDEXX Laboratories Inc., Thermo Fisher Scientific Inc., QIAGEN N. V., IDvet, NEOGEN Corporation, INDICAL BIOSCIENCE GmbH, Randox Laboratories Ltd, Creative Diagnostics, Heska Corporation, Chembio Diagnostics Inc., URIT Medical Electronic Co. Ltd., NTBIO Diagnostics Inc., Bio-X Diagnostics, Agrolabo Spa, Virbac, Covetrus Inc., Biomerieux S. A., Bio-Rad Laboratories Inc., Eurofins Scientific SE, Fujifilm Wako Pure Chemical Corporation, GenScript Biotech Corporation, Merck KGaA, MP Biomedicals LLC, Quidel Corporation, Roche Diagnostics Corporation, Siemens Healthineers AG, Sysmex Corporation, VCA Inc., Vetoquinol SA

Veterinary Infectious Disease Diagnostics Market 2024 Key Insights:

• The veterinary infectious disease diagnostics market size is expected to see strong growth in the next few years. It will grow to $2.82 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Rising Incidence Of Transboundary And Zoonotic Diseases In Animals
• Growing Technological Advances In Veterinary Diagnostics
• North America was the largest region in the veterinary disease diagnostics market in 2023

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