Veterinary Diagnostics Market Size, Share & Industry Trends,...

Veterinary Diagnostics Market Size, Share & Industry Trends, Outlook and Forecast, 2032

Posted 2024-04-29 11:10:47

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Veterinary Diagnostics Market

The global veterinary diagnostics market is expected to grow from its estimated valuation of USD 7.58 billion in 2023 to USD 18.61 billion by the end of 2032, according to a report released by Zion Market Research. Over the course of the projection period, the market is anticipated to expand at a CAGR of 10.50%. The study examines the factors that will propel growth, impede it, and affect demand in the global veterinary diagnostics market over the course of the projected year. Additionally, it will support you as you navigate and investigate the new opportunities in the Veterinary Diagnostics Market sector.

Global Veterinary Diagnostics Market: Overview

Diagnostic tests used to help identify and identify a variety of animal illnesses are referred to as veterinary diagnostics. Their excrement, blood, and tissue samples are used in a variety of ways to conduct these tests. Veterinarian diagnostics makes extensive use of the novel tools and techniques created for human diagnosis.

Veterinary Diagnostics Market

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Global Veterinary Diagnostics Market: Growth Factors

Growing awareness of zoonotic diseases, rising demand for pet insurance, rising pet adoption, rising veterinary practitioner numbers and income levels, rising demand for food products derived from animals, and rising costs associated with animal healthcare are the main factors driving the growth of the veterinary diagnostics market.

Global Veterinary Diagnostics Market: Segmentation

There are various ways to segment the worldwide veterinary diagnostics market, such by animal type, product, end-user, technology, and geography. The market's animal type sector is split into two categories: companion animals and animals used for food production. Cats, dogs, horses, and other companion animals are included in the market's companion animals category. Poultry, cattle, sheep & goats, pigs, and other food-producing animals are the different categories under which the market's food-producing animals are classified. The veterinary diagnostics market comprises three distinct product segments: instruments, consumables, and services.

Veterinary Diagnostics Market

Veterinary hospitals and clinics, research facilities, reference labs, and point-of-care/in-house testing comprise the sub-segmentation of the end-user market. Clinical chemistry, blood gas-electrolyte analysis, hematology, diagnostic imaging, glucose monitoring, immunodiagnostic, and molecular diagnostics are the subsectors that make up the technology section of the veterinary diagnostics industry. Cartridges and blood gas electrolyte analyzers are the two segments of the blood gas electrolyte analysis market. Hematology analyzers and hematology cartridges are the two sub-segments of the veterinary market's hematology segment.

The market's diagnostic imaging category includes radiography systems, CT scanners, MRI scanners, ultrasound imaging systems, and others. The market is divided into three categories for glucose monitoring products: urine glucose strips, glucose meters, and blood glucose strips. The market segment dedicated to immunodiagnostics is divided into categories such as allergen-specific immunodiagnostic tests, ELISA tests, lateral flow fast testing, immunoassay analyzers, and others.

Global Veterinary Diagnostics Market: Regional Analysis

North America is projected to lead the market for veterinary diagnostics in the near future. The expansion of this region can be linked to reasons such as the rising requirement for animal-derived food goods, mounting companion animal healthcare cost, increasing numbers of veterinary professionals and their salary levels, and expanding awareness regarding zoonotic diseases. Due to the increasing demand for food products derived from animals and the expanding pet adoption rate, the Asia-Pacific region is expected to experience a considerable growth in the market.

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