“Veterinary Infectious Disease Diagnostics Market” in terms of revenue was estimated to be worth $2.06 billion in 2023 and is poised to reach $3.95 billion by 2031, growing at a CAGR of 8.69% from 2024 to 2031 according to a new report by InsightAce Analytic.
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the veterinary infectious disease diagnostics market are:
- Rising rates of zoonotic and transboundary diseases
- Increase in research and development efforts
- The increased popularity of owning pets
The following are the primary obstacles to the veterinary infectious disease diagnostics market ‘s expansion:
- Growing expenses for pet care
- Veterinarians in short supply in emerging markets
- Insufficient diagnostic facilities
Future expansion opportunities for the veterinary infectious disease diagnostics market include:
- Increasingly popular pet insurance
- Increasing spending on animal healthcare
- Technological Advancement
Market Analysis:
Veterinary infectious illnesses diagnostics encompasses the various methods and tests employed to identify contagious illnesses. Similarly, these procedures and tests draw on diagnostics for animal infectious diseases. These tests can identify parasites, viruses, and bacteria that cause animal illness. The rising expense directly results from the high demand for diagnostic testing among animal owners. Due to these factors, the market is expected to have substantial growth in the years to come.
List of Prominent Players in the Veterinary Infectious Disease Diagnostics Market:
- BIOMÉRIEUX (France)
- Heska Corporation (U.S.)
- IDEXX (U.S.)
- Neogen Corporation (U.S.)
- INDICAL BIOSCIENCE GmbH (Germany)
- Randox Laboratories Ltd. (U.K.)
- Thermo Fisher Scientific Inc. (U.S.)
- Virbac (France)
- Zoetis (U.S.)
- Creative Diagnostics (U.S.)
- DRG INSTRUMENTS GMBH (Germany)
- Chembio Diagnostic Systems, Inc. (U.S.)
- Eurofins Technologies (Luxembourg)
- Abaxis (U.S.)
- Agrolabo S.p.A. (Italy)
- Abbott (U.S.)
- Danaher (U.S.)
Recent Developments:
- In January 2024, IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, unveiled the IDEXX in Vue DxTM Cellular Analyzer. This revolutionary device is the first of its kind and can diagnose the most common cytologic abnormalities found in blood and ear samples.
- In January 2024, Neogen Corporation introduced the SureKill Gel Bait Pro Applicator, the newest SureKill line of pest control solutions member.
- In June 2023, Chembio Diagnostics, Inc., a front-runner in infectious disease point-of-care diagnostics, announced that it had received a Clinical Laboratory Improvement Amendments (CLIA) waiver for the DPP HIV-Syphilis System from the U.S. Food and Drug Administration (FDA).
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Veterinary Infectious Disease Diagnostics Market Dynamics:
Market Drivers: Increased Popularity of Owning Pets
The veterinary infectious disease diagnostics market benefits from the anticipated demand for pet care products and services brought about by the world’s expanding pet population. Some of the most important factors that will likely drive the veterinary infectious disease diagnostics market are the rising demand for animal-derived food products, more veterinary practitioners, more measures to control and prevent diseases, more companion animals, and more favorable pet insurance policies.
Challenges: Growing Expenses for Pet Care
The veterinary infectious disease diagnostics market is expected to face challenges in terms of growth during the projected period due to factors such as the increasing cost of pet care and a lack of awareness regarding animal healthcare in developing nations. The rising expense of pet healthcare is partly due to the increased frequency with which pets need to see veterinary specialists for treatment. Restricting the growth of this market are high pet care expenditures, which directly impact the number of trips pet owners make to veterinary facilities. The biggest obstacle to expanding in emerging markets is the shortage of veterinarians.
North America is Expected to Grow with the Highest CAGR During the Forecast Period
The veterinary infectious disease diagnostics market is likely to register a significant revenue share and develop at a rapid CAGR in the near future. This is because of the accessibility of diagnostic products, the growth in pet ownership, and the increase in healthcare spending. The expansion of the regional market is being driven, in large part, by a spate of new R&D initiatives and the availability of attractive healthcare facilities.
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Segmentation of Veterinary Infectious Disease Diagnostics Market-
By Technology-
- Immunodiagnostics
- Lateral Flow Assays
- ELISA Test
- Other Immunodiagnostics Products
- Molecular Diagnotic
- Polymerase Chain Reaction (PCR) Tests
- Microarrays
- Other Molecular Diagnostic Products
- Other Technologies
By Animal Type-
- Companion Animals
- Cats
- Dogs
- Horses
- Other Companion Animals
- Companion Animals By Infection Type
- Viral Infections
- Bacterial Infections
- Parasitic Infections
- Other Infections
- Food -producing Animals
- Cattle
- Pigs
- Poultry
- Other Food-producing animals
- Food-producing Animals, By Infection Type
- Viral Infections
- Bacterial Infections
- Parasitic Infections
- Other Infections
By End User-
- Reference Laboratories
- Veterinary Hospitals and Clinics
- Point-of-care/ In-house testing
- Research Institutes and Universities
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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