Veterinary POC Diagnostic Market-Overview
Medical progress has led to advancements in the veterinary healthcare
system, such as Point-of-Care (PoC), which permits speedy results in
non-laboratory situations. According to an MRFR report, the market will earn
USD 1.285 Billion by 2030 and will gain a CAGR of 9.70% during the forecast
year 2022- 2030.
Accelerating pandemic illnesses such as swine flu and rabies will further
promote the market. Less time spent on testing and outcomes, more precise
results, a shift in diagnostic trends, and the adoption of cutting-edge
technologies is likely to fuel the veterinary
Point-of-Care (PoC) diagnostic market size.
Competitive Analysis
The
reliance on online commerce for sales is expected to increase significantly during
the forecast period, prompting market stakeholders to invest more in its
growth. Due to the return of COVID cases in many locations, the market may
exhibit constrained growth. The continuation of occasional lockdowns in
numerous regions may cause the market expansion to be hampered if resources
such as labor and supply chains are severely impacted. The global market is
expected to diversify in operational techniques as innovative models for
operation and delivery are implemented. It is projected that the emphasis on
accumulating reserves of resources to deal with unexpected crises would impact
future market trends. Government assistance is expected to support worldwide
market development in the next years. Market developments and research are
expected to generate attractive growth opportunities in the next years.
The
prominent companies in the veterinary
POC diagnostic market player are Idexx Laboratories, Inc. (US), Woodley
Equipment Company Ltd. (UK), Zoetis, Inc. (US), Virbac (France), Thermo Fisher
Scientific, Inc. (US), Eurolyser Diagnostica GmbH (Austria), Minxray, Inc.
(US), AniPoC, Ltd. (UK), Neurologica Corporation (US), Fujifilm Sonosite, Inc.
(Japan), Carestream Health, Inc. (US), Diagnostic Imaging Systems, Inc. (US),
Esaote spa (Italy), Mindray Medical International Limited (A Part of Excelsior
Union Limited) (China), Heska Corporation (US), Randox Laboratories, Ltd. (UK),
GE Healthcare (US), QR s.r.l. (Italy), Sedecal (Spain), and Examion GmbH
(Germany).
Segmental Analysis
The segmental study of the veterinary POC diagnostic market overview has
been conducted based on the technology, application, product, animal type, and
end user. The market based on end users has been
segmented into hospitals & clinics and home care. The market has been
segmented into companion animals and livestock animals based on the animal
type. The veterinary POC diagnostic market has been segmented into
consumables and instruments based on the type. The market has been segmented
into immunodiagnostics, urinalysis, clinical biochemistry, hematology, and
molecular diagnostics based on technology. The market has been segmented into
orthopedics & traumatology, virology, clinical pathologyoncology,
parasitology, gynecology, cardiology, bacteriology, and neurology based on the
application.
Detailed Regional Analysis
In the forecast period, the North American market generated outstanding
revenue. The growing adoption of pet animals for companionship, coupled with
the high animal healthcare expenditure, will boost the North American
veterinary POC diagnostic market. Advances in veterinary diagnostics and
multiple laboratories in the region applying innovative molecular
diagnostic techniques will propel market expansion even further.
The European market will grow at a 7.8 percent annual rate during the predicted
period. The collective need for animal products and an increasing emphasis on
biologicals, which aids in the development of various vaccines, are driving the
rise of the animal diagnostics business in Europe. Elevated animal food
consumption puts strain on animal farms, increasing demand for animal
diagnostics to reduce the spread of zoonotic and animal foodborne diseases. The
Asia-Pacific region is expected to grow at the quickest rate throughout the
forecast period, owing to the rapid development of manufacturing facilities in
developing economies such as China and India.
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