Veterinary Diagnostics Market Share Industry, Growth, Demand, & Forecast – 2022-2028

Veterinary Diagnostics Market Insights:

In a recent research report by Market Research Community, the veterinary diagnostics market is expected to surpass USD 9.9 Billion by the year 2030, from USD 14.97 Billion in 2021.

An essential and crucial part of managing and preventing the spread of diseases among animals is veterinary diagnostics. The market for animal diagnostics is expanding quickly due to the increased focus on preventing and controlling zoonotic animal diseases that directly affect the global human population. The Centers for Disease Control and Prevention (CDC) reported in 2017 that approximately 10,000 Americans experience zoonotic infections each year. One of the main global public concerns nowadays is the increasing incidence and prevalence of zoonotic illnesses.

Due to rising pork consumption and the need for better diagnostic methods, the porcine category also retained a sizeable portion of the market in 2021. MYRTA, a portable real-time polymerase chain reaction device for molecular diagnostics for human and animal health, was introduced by MatMaCorp in March 2021. Due to its ability to identify the porcine reproductive and respiratory syndrome virus, the MYRTA system may potentially be useful in veterinary medicine.

During the projection period, the Asia Pacific regional market is expected to develop at the fastest rate. Increasing numbers of middle-class homes, more disposable money, acceptance of pets, and a high need for animal proteins are just a few of the major reasons anticipated to propel regional market expansion.

The veterinary diagnostics market is projected to grow at a significant pace reaching a CAGR of approximately 9.9%, over the forecast period of 2022–2030, despite a considerable fall in Product sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.

The study is consolidated into major segments and further into sub-segments, such as by Product (Consumable, Reagents, & Kits, Instruments, and devices), Species (Cattle, Canine, Caprine, Equine, Ovine, Porcine, Avian, and others), Testing Type (Analytical Services, Diagnostic Imaging, Bacteriology, Pathology, Molecular Diagnostics, Immunoassays, Parasitology, Serology, Virology), by diseases type (Infectious Diseases, Non-Infectious Diseases, Hereditary, Congenital and Acquired Diseases, General Ailments, Structural and Functional Diseases) By End-use (Laboratories, Veterinary Hospitals and Clinics, Point-Of-Care/In-House Testing, Research Institutes and Universities) to forecast the veterinary diagnostics market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.

Lastly, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including Zoetis; Heska Corp.; IDEXX Laboratories Inc.; Agrolabo S.p.A.; IDvet; Virbac; Thermo Fisher Scientific Inc.; Neogen Corp.; Covetrus; iM3Vet Pty Ltd.

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