In-Depth Analysis of the Veterinary Diagnostic Equipment Market: Growth Opportunities, Key Trends, and Forecast 2025-2034

What Are the Projected Growth and Market Size Trends for the Veterinary Diagnostic Equipment Market?
In recent times, there has been a noticeable increase in the size of the veterinary diagnostic equipment market. It's anticipated to expand from $1.4 billion in 2024 to $1.51 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.4%. The prior expansion can be traced back to factors such as a surge in pet ownership, the growth of the livestock sector, the prevalence of companion animals, the demand for preventive veterinary healthcare, and an increase in disposable income levels.

Expectations point towards a robust expansion in the market size of veterinary diagnostic equipment over the coming years. By 2029, it's predicted to inflate to a value of $1.98 billion, with a Compound Annual Growth Rate (CAGR) of 7.0%. This projected growth over the forecast period is linked to escalating awareness regarding pet health, readiness for global pandemics, heightened concentration on the surveillance and management of animal diseases, and increased pet insurance. The forecast period also underlines key trends such as the incorporation of digital technologies, the integration of telemedicine, point-of-care testing, and the use of artificial intelligence and machine learning. There's also a spotlight on eco-friendly practices.

What Is Driving the Growth Trajectory of the Veterinary Diagnostic Equipment Market?
One of the primary growth catalysts for the veterinary diagnostic equipment market is the rising occurrence of illnesses among animals. The surge in disease frequency in livestock and pets necessitates advanced diagnostic equipment. For instance, in July 2023, the World Health Organization, a United Nations specialized agency based in Switzerland for global public health announced that WOAH received reports from 67 countries across five continents about epidemics of H5N1 high pathogenicity avian influenza in poultry and wild birds. The statistics showed that more than 131 million domestic birds were eliminated either by death or culling in affected farms and communities in 2022. This rise in animal disease rates boosts the need for diagnostic equipment, thereby propelling the growth of the veterinary diagnostic equipment market.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2455&type=smp

Which Leading Companies Are Shaping the Growth of the Veterinary Diagnostic Equipment Market?
Major companies operating in the veterinary diagnostic equipment market include IDEXX Laboratories Inc., ABAXIS Inc., HESKA Corporation, Zoetis Inc., Virbac, Mindray Medical International Limited, Neogen Corporation, QIAGEN N.V., Agfa Healthcare, Toshiba, Carestream Health, MinXray, Diagnostic Imaging Systems, BCF Technology, Sedecal, Kaixin Group Co. Ltd., Esaote S.p.A., Pfizer Inc., Thermo Fisher Scientific Inc., Henry Schein Inc., Idvet, BioMérieux SA, Randox Laboratories Ltd., Abbott Laboratories, Acon Laboratories Inc., Animal Biome, BioCHEK BV, Chison Medical Imaging Co. Ltd., DCN Dx Daignostics, General Electric Company, Hallmarq Veterinary Imaging Ltd., INDICAL Bioscience GmbH, MI:RNA Ltd., Scopio Labs Ltd., VCA Antech Inc.

What Are the Major Trends Shaping the Veterinary Diagnostic Equipment Market?
Manufacturers of veterinary diagnostic equipment are leveraging cutting-edge technologies like advanced blood microsampling techniques to improve precision, conduct patient-focused specimen collection, and diagnose diseases in animals more effectively. Blood microsampling is a procedure that permits users to conveniently collect blood samples from their farm animals and pets. These collected samples are then sent to laboratories for additional examination. This method is a progression from the traditional dry blood sampling procedure, which also involves the gathering of blood. For example, Neoteryx has released the '3Rs-compliant Mitra', a microsampling device that operates on the concept of micro sampling. This device utilizes Neoteryx's proprietary Volumetric Absorptive Micro Sampling (VAMS) technology to enable remote sampling that is both more precise and user-friendly. Further firms taking advantage of the microsampling trend include Diatron, with its Diatron Aquila hematology analyzer.

What Are the Key Segments of the Veterinary Diagnostic Equipment Market?
The veterinary diagnostic equipment market covered in this report is segmented -

1) By Product: Hematology, Immunodiagnostics, Clinical Chemistry, Molecular Testing
2) By Animal: Livestock Cattle, Domestic Pets
3) By End Users: Hospitals And Clinics, Reference Laboratories, Universities Or Research Centers, Point-Of-Care Or In-House Testing

Subsegments:
1) By Hematology: Hematology Analyzers, Hematology Reagents And Kits
2) By Immunodiagnostics: Immunoassay Analyzers, Immunoassay Reagents And Kits
3) By Clinical Chemistry: Chemistry Analyzers, Clinical Chemistry Reagents And Kits
4) By Molecular Testing: PCR (Polymerase Chain Reaction) Machines, Molecular Testing Reagents And Kits

Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/veterinary-diagnostic-equipment-global-market-report

Which Region Dominates the Veterinary Diagnostic Equipment Market?
North America was the largest region in the veterinary diagnostic equipment market in 2023. Asia-Pacific was the second-largest region in the global veterinary diagnostic equipment market analysis. The regions covered in the veterinary diagnostic equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

What Is Covered In The Veterinary Diagnostic Equipment Global Market Report?

- Market Size Analysis: Analyze the Veterinary Diagnostic Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Veterinary Diagnostic Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Veterinary Diagnostic Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Veterinary Diagnostic Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2455

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.