The Veterinary Diagnostic Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Veterinary Diagnostic Equipment Global Market Report 2024, The veterinary diagnostic equipment market size has grown strongly in recent years. It will grow from $1.02 billion in 2023 to $1.09 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increasing pet ownership, growing livestock industry, prevalence of companion animals, demand for preventive veterinary care, rising disposable income levels, .
The veterinary diagnostic equipment market size is expected to see strong growth in the next few years. It will grow to $1.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to rising pet healthcare awareness, global pandemic preparedness, increasing focus on animal disease surveillance and control, increased pet insurance. Major trends in the forecast period include adoption of digital technologies, telemedicine integration, point-of-care testing, ai and machine learning, eco-friendly practices.
An increase in the prevalence rate of diseases among animals serves as one of the major drivers of the veterinary diagnostic equipment market. Due to the increase in the incidence of diseases in livestock and pets, the demand for enhanced diagnostic equipment increases. For instance, in July 2023, according to the World Health Organization, a Switzerland-based Specialised agency of the United Nations in charge of global public health, WOAH received reports from 67 countries on five continents of H5N1 high pathogenicity avian influenza epidemics in poultry and wild birds, with over 131 million domestic fowl killed due to death or culling in afflicted farms and communities in 2022. The increase in the prevalence rate of diseases in animals increases demand for diagnostic equipment, driving the veterinary diagnostic equipment market.
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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/Research Centers; Point-Of-Care/In-House Testing
The veterinary diagnostic equipment market report table of contents includes:
1. Executive Summary
2. Veterinary Diagnostic Market Characteristics
3. Veterinary Diagnostic Market Trends And Strategies
4. Veterinary Diagnostic Market – Macro Economic Scenario
5. Global Veterinary Diagnostic Market Size and Growth
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26. South America Veterinary Diagnostic Market
27. Brazil Veterinary Diagnostic Market
28. Middle East Veterinary Diagnostic Market
29. Africa Veterinary Diagnostic Market
30. Veterinary Diagnostic Market Competitive Landscape And Company Profiles
Top Major Players:
- IDEXX Laboratories Inc
- ABAXIS Inc
- HESKA Corporation
- Zoetis Inc
- Virbac
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