Growing zoonotic disease prevalence will boost the veterinary POC diagnostic market, forecast to touch US$ 5.12 bn by 2025 at a CAGR of 6.2%
Noida, Uttar Pradesh, India, February 17 2021 (Wiredrelease) Report Ocean Pvt Ltd –:Veterinary POC diagnostic products and technologies are as multifaceted as they are challenging to produce to meet the result. Many of the livestock and poultry diagnostic products are biological products that mandate materials from living organisms. In addition, the global market development for companion animal diagnostic has depended heavily upon the purchasing and using in-clinic analysers or diagnostic instruments used at veterinary practices. The rising prevalence of the zoonotic disease among livestock and companion animals, along with the increasing need for the fast preliminary detection of these diseases and the advantages of POCT over laboratory analysis, are driving the veterinary POC diagnostic market’s growth near the forecast period. However, the high veterinary imaging instruments cost is expected to hinder the market’s growth. Following these promising developments, the Global Veterinary POC Diagnostic Market is estimated to see healthy growth, pegged at a CAGR of 6.2% during the forecast period 2020-2025.
In 2019, the consumables segment led the veterinary POC diagnostic market
Based on product, the veterinary POC diagnostic market is segmented into consumables and instruments. The consumables product segment has been accounted for the largest market share in the market in 2019. The consumables segment’s majority percentage is primarily driven by the rising demand for rapid disease detection, the growing awareness for animal zoonotic diseases based on advanced consumable technologies, and development in the companion animal population globally. Such factors will enhance its demand in the market, and expected that the segment would grow at the highest CAGR throughout the forecast period.
Medical and healthcare research and development have made tremendous growth in the veterinary healthcare segment like Point-of-Care (POC), which further creates the possibility of rapid results in non-laboratory settings. The rising adoption of advanced and innovative diagnostic testing methods are expected to develop traction in the veterinary POC diagnostic market. Furthermore, various harmful diseases such as rabies, swine flu, and others are increased globally. Such factors will be expected to increase the need and demand for veterinary POC diagnostic
Segmentation Overview of the Global Veterinary POC Diagnostic Market
The veterinary POC diagnostic market is segmented based on species, product, disease type, and testing. These major market segments are further categorized into various sub-segments to study the market in detail.
By Species Outlook
Bovine Camelid Canine and Feline Caprine Equine Ovine Porcine Avian Others
By Product Outlook
By Disease Type Outlook
Infectious Diseases Non-infectious Diseases Hereditary, Congenital, and Acquired Diseases General Ailments Structural and Functional Diseases Others
By Testing Outlook
Analytical Services Diagnostic Imaging Bacteriology Pathology Molecular Diagnostics Immunoassays Parasitology Serology Virology Others
Key Players Insights
Abaxis, Inc., Idexx Laboratories, Inc., Heska Corporation, Neogen Corp, Merck, Thermo Fisher Scientific, Inc., Qiagen N.V., Virbac Corp, Zoetis, Inc., IDVet, Agrolabo SPA, Im3 Inc., VCA Antech, and Henry Schein, Inc., among others, are some significant players included in the research study of the global veterinary POC diagnostic market.
Research Report on the Global Veterinary POC Diagnostic Market Include:
Economic Sectors and Share of Veterinary POC Diagnostic
Global Veterinary POC Diagnostic Market Size Forecast
Veterinary POC Diagnostic Performance Index
Industry Structure by Segments
Healthcare Sector globally
Veterinary POC Diagnostic Drivers
Regional Opportunities and Trends
POC Diagnostic Market
Veterinary POC Diagnostic Competitors Landscape
This content has been published by Report Ocean Pvt Ltd company. The WiredRelease News Department was not involved in the creation of this content. For press release service enquiry, please reach us at email@example.com.