Top Trends Transforming the Veterinary Diagnostic Equipment Market Landscape in 2025: Revolutionizing Veterinary Diagnosis Advancements In Blood Microsampling Techniques

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What Will the Veterinary Diagnostic Equipment Industry Market Size Be by 2025?
The market for veterinary diagnostic equipment has experienced a robust expansion in the past few years. It is expected to increase from its worth of $1.4 billion in 2024 to a value of $1.51 billion in 2025, indicating a Compound Annual Growth Rate (CAGR) of 7.4%. This upward trend during the historical period is linked to factors such as the surge in pet ownership, an expanding livestock sector, the commonality of companion animals, the need for preventative veterinary services, and increasing levels of disposable income.

What's the Long-Term Growth Forecast for the Veterinary Diagnostic Equipment Market Size Through 2029?
The market size for veterinary diagnostic equipment is predicted to experience robust growth in the upcoming years, expanding to a value of $1.98 billion in 2029 with a CAGR of 7.0%. Factors contributing to the growth in the projected period include the heightened awareness of pet healthcare, preparedness for a global pandemic, an increasing emphasis on monitoring and controlling animal diseases, along with the rise in pet insurance. Trends projected for the forecast period encompass the incorporation of digital technologies, telemedicine, point-of-care testing, usage of AI and machine learning, as well as sustainable practices.

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What Are the Key Growth Drivers Fueling the Veterinary Diagnostic Equipment Market Expansion?
The surge in the incidents of diseases among animals majorly fuels the demand for advanced veterinary diagnostic equipment. This growing demand can be attributed to the escalating incidence of diseases in pets and livestock. Back in July 2023, data from the World Health Organization, a Switzerland-based specialized United Nations agency responsible for global public health, reported that WOAH received information from 67 nations on five continents regarding the outbreaks of H5N1 high pathogenicity avian influenza in poultry and wild birds. This resulted in over 131 million domestic fowls loss due to death or culling in affected farms and communities over 2022. Therefore, the rising epidemic rate among animals boosts the demand for diagnostic equipment, which, in turn, propels the veterinary diagnostic equipment market.

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What Are the Key Trends Driving Veterinary Diagnostic Equipment Market Growth?
Manufacturers of veterinary diagnostic tools are incorporating cutting-edge technologies, for instance, innovative microsampling of blood, to ensure greater accuracy, focus on patient-based specimen collection, and disease diagnosis in animals. Microsampling of blood is a method that provides the opportunity for the livestock owners to collect blood samples hassle-free from their domestic and pet animals. Those samples are then sent to the labs for detailed diagnosis. This method is basically more evolved than the dry blood sampling, which is another common method of blood collection. One case in point is Neoteryx, they launched a microsampling device named '3Rs-compliant Mitra', functioning on micro sampling principal. The device leverages Neoteryx's own Volumetric Absorptive Micro Sampling (VAMS) technology, offering a more easy and precise way of remote sampling. Diatron is another company among others, who invested in microsampling and brought its Diatron Aquila hematology analyzer to the market.

How Is the Veterinary Diagnostic Equipment Market Segmented?
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

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Which Companies Are Leading the Charge in Veterinary Diagnostic Equipment Market Innovation?
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.

Which Regions Are Leading the Global Veterinary Diagnostic Equipment Market in Revenue?
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.

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