The Veterinary Point Of Care Diagnostics 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 (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Veterinary Point Of Care Diagnostics Global Market Report 2024, The veterinary point of care diagnostics market size has grown rapidly in recent years. It will grow from $1.58 billion in 2023 to $1.8 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to education and awareness programs, integration with telemedicine, focus on infectious disease control, regulatory support and approvals, livestock and production animal management.
The veterinary point of care diagnostics market size is expected to see rapid growth in the next few years. It will grow to $2.97 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to increasing pet population, preventive healthcare emphasis, remote and rural access needs, personalized veterinary medicine,global health preparedness.. Major trends in the forecast period include technological advancements, product innovations, consumer preference for home testing.
The increasing companion animal population is expected to propel the veterinary point-of-care diagnostics market growth going forward. Companion animals are pets who share the residential area with humans. An increase in the companion animal population is increasing the demand for veterinary point-of-care diagnostics that enables faster clinical decision-making in the diagnostic, treatment selection and monitoring, and prognosis processes, as well as operational decision-making and resource utilization. For instance, according to the American Pet Products Association, a US-based not-for-profit industry association’s 2021-2022 National Pet Owners Survey, 70% of all US households have a companion animal. Therefore, the increasing companion animal population contributes to the veterinary point-of-care diagnostics market growth.
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The veterinary point of care diagnostics market covered in this report is segmented –
1) By Product : Consumables, Reagents, and Kits, Instruments and Devices
2) By Animal Type: Companion Animals, Livestock Animals
3) By Disease: Infectious Diseases, Metabolic Diseases, Other Diseases
4) By Technology: Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Hematology, Urinalysis, Other Technologies
5) By End User: Veterinary Clinics, Veterinary Hospitals and Academic Institutes, Home Care Settings
Major companies operating in the veterinary point-of-care diagnostics market are developing new veterinary analyzers to sustain their position in the market. For instance, in August 2023, Chengdu Seamaty Technology Co., Ltd., a China-based medical equipment manufacturing company launched four veterinary analyzers designed for pet hospitals, emphasizing the crucial role of on-site diagnostics. The innovative devices, including the VG2 Vet Blood Gas Electrolyte Immunoassay Analyzer, VG1 Veterinary Blood Gas & Electrolyte Analyzer, Vi1 Veterinary Fluorescence Immunoassay Analyzer, and VBC30/VBC50 Hematology Analyzers, provide swift and precise diagnostic insights for diseases, immunity assessment, and inflammation monitoring in canines and felines. With user-friendly interfaces and portable designs, these analyzers enable seamless integration into veterinary workflows, enhancing efficiency and facilitating immediate decision-making for optimal patient care.
The veterinary point of care diagnostics market report table of contents includes:
1. Executive Summary
2. Veterinary Point Of Care Diagnostics Market Characteristics
3. Veterinary Point Of Care Diagnostics Market Trends And Strategies
4. Veterinary Point Of Care Diagnostics Market – Macro Economic Scenario
5. Global Veterinary Point Of Care Diagnostics Market Size and Growth
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26. South America Veterinary Point Of Care Diagnostics Market
27. Brazil Veterinary Point Of Care Diagnostics Market
28. Middle East Veterinary Point Of Care Diagnostics Market
29. Africa Veterinary Point Of Care Diagnostics Market
30. Veterinary Point Of Care Diagnostics Market Competitive Landscape And Company Profiles
Top Major Players:
- Zoetis Inc
- IDEXX Laboratories Inc
- Heska Corporation
- Virbac Animal Health India Pvt Ltd
- Samsung Neurologica Corporation
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