According to the most recent analysis by Emergen Research, the global market for veterinary diagnostics was valued at USD 6.63 billion in 2021 and is predicted to grow at a rate of 11.2% over the projected period. Due to recent developments in diagnostics, more laboratories are adopting more innovative approaches, which is a key reason fueling the market’s revenue growth. An essential and crucial part of managing and preventing the spread of disease among animals is veterinary diagnostics. Citrus tristeza virus and tomato yellow leaf curl virus are two unusual viruses that have recently arisen or reemerged and severely affected a number of businesses, including animal husbandry, dairy, and other sectors. Major viral infections cannot be treated, but they can spread more slowly if they are detected early and continuously monitored. As a result, new Point-of-Care (PoC) diagnostic tools and advancements in virus identification are required internationally.
Globally, more governmental and non-governmental organisations are investing more money in animal health, which is one of the major drivers impacting revenue growth. In order to boost market penetration for veterinary diagnostic goods, it is anticipated that increased entry of various government and non-government funds will result in improvements in the world’s infrastructure for animal healthcare. An additional element that is boosting demand for veterinary diagnostics and propelling market revenue growth is the rise in the occurrence of infectious animal diseases.
One of the main factors preventing the growth of the market’s revenue is the array of infectious agents’ rapid rates of mutation, including viruses. New target molecules are required by novel mutations in diverse bioagents, which in turn requires new detection techniques. This eliminates the function of previously developed detection kits, which has an impact on market revenue growth.
Get Full PDF Sample Copy of Report: (Including Full TOC, List of Tables & Figures, Chart) @ https://www.emergenresearch.com/request-sample/1514
Some Key Highlights From the Report
The highest market share will be held by consumables, reagents, and kits in 2021
Due to the rising prevalence of infectious diseases like SAR-CoV-2 viral infections globally and the rising demand for quick diagnostics in animals, the consumables, reagents, and kits category accounted for the largest market share in 2021.
By carefully examining the demand for these items from veterinary clinics, hospitals, and labs, the size of the entire market is determined. Additionally, point-of-care tests are being requested by pet owners more frequently.
In addition, point-of-care diagnostics such as blood glucose metres, pregnancy kits, urine strips, and others are widely used on companion animals. The tests, however, are generally limited to laboratories due to the tight standards for sensitivity and efficacy in disease testing for animals. The rate at which consumables and reagents are utilised in diagnosis has increased due to veterinary diagnostics. This can be attributed to growing pet adoptions, rising zoonotic disease awareness, and rising pet health awareness.
In 2021, canines held a substantial market share
Due to rising veterinary care costs, particularly in developed nations, canine species held the biggest market share during the predicted period. The increased incidence of severe ailments, such as obesity, diabetes, cancer, and other diseases, is one of the major factors affecting the industry. For instance, a 2019 APOP poll revealed that approximately 57% of dogs in the United States were overweight. Obesity dramatically raises the chance of joint issues, diabetes, cancer, and other chronic disorders.
North America dominated the regional market
In 2021, the market in North America accounted for the biggest revenue share. This is a result of the growing number of government initiatives aimed at encouraging students to enter the veterinary health sector. Additionally, as a result of increased government and non-government assistance, the infrastructure installations at different veterinary schools have improved, which is anticipated to greatly raise demand for veterinary diagnostic faculties. Additionally, the adoption of cutting-edge diagnostic techniques to assess diverse biological products is anticipated to fuel market revenue growth.
Thermo Fisher Scientific Inc., Neogen Corp., Covetrus, and iM3Vet Pty Ltd. are some of the significant players mentioned in the global market study along with Zoetis, Heska Corp., IDEXX Laboratories Inc., Agrolabo S.p.A., IDvet, and Virbac.
View the Full Report Description, the Research Methodology, the Content Table, and the Infographics @ https://www.emergenresearch.com/industry-report/veterinary-diagnostics-market
Emergen Research has segmented the global veterinary diagnostics market based on type, species, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2019-2030)
- Instruments & Devices
- Reagents & Kits
- Species Outlook (Revenue, USD Billion; 2019-2030)
- End-use Outlook (Revenue, USD Billion; 2019-2030)
- Veterinary Hospitals
- Research Institutes
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
Emergen Research Has a Limited-Time Discount Available (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/1514
View Additional Reports by Emergen Research:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
Visit for More Insights: https://www.emergenresearch.com/insights