Rising Companion Animal Population To Drive Market Growth: Strengthening the Growth Trajectory of the Veterinary Point Of Care Diagnostics Market

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What Is the Expected CAGR for the Veterinary Point Of Care Diagnostics Market Through 2025?
The market size for point of care diagnostics in the veterinary field has experienced rapid growth in recent years. It is projected to increase from a value of $1.78 billion in 2024 to $2.01 billion in 2025, boasting a compound annual growth rate (CAGR) of 12.9%. The historic growth period has been influenced by factors such as education and awareness programs, integration with telemedicine, emphasis on controlling infectious diseases, regulatory backing and approvals, as well as the management of livestock and production animals.

What's the Projected Size of the Global Veterinary Point Of Care Diagnostics Market by 2029?
The market size for veterinary point of care diagnostics is forecasted to witness a swift expansion in the coming years. It is predicted to escalate to $3.33 billion in 2029, with a compound annual growth rate (CAGR) of 13.5%. This anticipated growth during the prediction period can be credited to factors such as a growing pet population, a focus on preventive healthcare, the need for access in remote and rural areas, personalized veterinary treatments, and preparedness for global health issues. Noteworthy trends for this forecast period encompass advancements in technology, innovative products, and a shift in consumer inclination towards home testing.

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Top Growth Drivers in the Veterinary Point Of Care Diagnostics Industry: What's Accelerating the Market?
The rise in the population of companion animals is anticipated to drive the expansion of the veterinary point-of-care diagnostics market in the future. Companion animals, pets who live in the same living space as humans, are growing in number. This growth is fueling the need for veterinary point-of-care diagnostics, which facilitates quicker clinical decision-making regarding diagnostic processes, treatment options, monitoring and prognosis, operational decisions, and resource allocation. For example, the American Pet Products Association's 2021-2022 National Pet Owners Survey indicates that 70% of all US households have a companion animal. Hence, the surge in the companion animal population is aiding in propelling the veterinary point-of-care diagnostics market's expansion.

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What Trends Will Shape the Veterinary Point Of Care Diagnostics Market Through 2029 and Beyond?
To maintain dominance in the veterinary point-of-care diagnostics market, leading businesses are innovating and introducing novel veterinary analyzers. For example, Chengdu Seamaty Technology Co., Ltd., a medical equipment producer based in China, unveiled four state-of-the-art veterinary analyzers targeting pet clinics in August 2023, highlighting the significance of immediate diagnostics. The advanced devices, such as VG2 Vet Blood Gas Electrolyte Immunoassay Analyzer, VG1 Veterinary Blood Gas & Electrolyte Analyzer, Vi1 Veterinary Fluorescence Immunoassay Analyzer, and VBC30/VBC50 Hematology Analyzers, deliver quick and accurate diagnostic data for various conditions, immunity analysis, and inflammation tracking in dogs and cats. These user-friendly and portable analyzers are easily incorporated into veterinary procedures, heightening effectiveness and enabling swift decisions for superior patient management.

What Are the Main Segments in the Veterinary Point Of Care Diagnostics Market?
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

Subsegments:
1) By Consumables: Test Strips, Blood Collection Tubes, Urine Test Strips, Microbial Culture Media
2) By Reagents And Kits: Enzyme-Linked Immunosorbent Assay (ELISA) Kits, PCR Reagents, Rapid Test Kits, Diagnostic Assay Kits
3) By Instruments And Devices: Portable Analyzers, Diagnostic Imaging Devices, Hematology Analyzers, Biochemical Analyzers

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Which Top Companies are Driving Growth in the Veterinary Point Of Care Diagnostics Market?
Major companies operating in the veterinary point of care diagnostics market are Zoetis Inc., IDEXX Laboratories Inc., Heska Corporation, Virbac Animal Health India Pvt Ltd, Eurolyser Diagnostica GmbH, Randox Laboratories Ltd, Anipoc Ltd, Neogen Corporation, Abaxis Inc., Alvedia, bioMérieux SA, Bionote Inc., Clindiag Systems Co. Ltd., Coris BioConcept, Creative Diagnostics, DiaSys Diagnostic Systems GmbH, Eiken Chemical Co. Ltd., Gold Standard Diagnostics Corp., Hangzhou AllTest Biotech Co. Ltd., InBios International Inc.

Which Regions Will Dominate the Veterinary Point Of Care Diagnostics Market Through 2029?
North America was the largest region in the veterinary point of care diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary point of care diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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