According to the latest report by IMARC Group, titled, “Veterinary Diagnostics Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027″, the global veterinary diagnostics market size reached US$ 5.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.1 Billion by 2027, exhibiting a growth rate (CAGR) of 8.83% during 2022-2027.
Veterinary diagnostics include a wide range of tests conducted to detect the presence of any diseases among animals. They are carried by analyzing the samples of blood, feces, and tissues of animals. These tests utilize various technologies, such as polymerase chain reaction, real-time polymerase chain reaction, in-situ hybridization, immunohistochemistry, and gene sequencing. The primary test helps in detecting diseases in healthy animals, and confirmatory tests aid in classifying disease status in a clinically diseased animal. As a result, veterinary diagnostics are widely used in testing centres for pathology, bacteriology, toxicology, nutrition, and virology.
A significant increase in pet adoption, along with the high prevalence of several diseases among pets, is augmenting the demand for veterinary diagnostics. Furthermore, with the escalating demand for animal-derived pet food products, there is a growing need for veterinary diagnostic services to detect viral infections, zoonotic gastrointestinal diseases, tuberculosis, rabies, etc. Additionally, numerous technological advancements have led to the development of improved immunoassays, biosensors, non-polymerase chain reaction techniques for proteomics for disease diagnosis and nucleic acid detection. Besides this, the increasing adoption of rapid tests and portable instruments for the effective diagnosis of diseases will further continue to drive the global market for veterinary diagnostics.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Veterinary Diagnostics Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
BioChek B.V., Biomerieux SA, Heska Corporation, IDEXX Laboratories Inc., IDvet, Neogen Corporation, Randox Laboratories Ltd., Thermo Fisher Scientific Inc., Virbac and Zoetis Inc.
The report has segmented the market on the basis of region, product, technology, animal type, disease type and end user.
Breakup by Product:
Instruments
Kits and Reagents
Software and Services
Breakup by Technology:
Immuno diagnostics
Clinical Biochemistry
Molecular Diagnostics
Hematology
Others
Breakup by Animal Type:
Companion Animals
Dogs
Cats
Others
Livestock Animals
Cattle
Swine
Poultry
Others
Breakup by Disease Type:
Infectious Diseases
Non-infectious Diseases
Hereditary, Congenital and Acquired Diseases
General Ailments
Structural and Functional Diseases
Breakup by End User:
Reference Laboratories
Veterinary Hospitals and Clinics
Others
Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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