The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s veterinary infectious disease diagnostics market report forecasts the veterinary infectious disease diagnostics market size to grow to $2.74 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

Learn More On The Veterinary Infectious Disease Diagnostics Market Report 2023 – https://www.thebusinessresearchcompany.com/report/veterinary-infectious-disease-diagnostics-global-market-report

Veterinary Infectious Disease Diagnostics Market Size Forecast
The global veterinary infectious disease diagnostics market is expected to grow from $1.65 billion in 2022 to $1.85 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The veterinary infectious disease diagnostics market size is expected to grow to $2.74 billion in 2027 at a CAGR of 10.4%.

North America held the largest veterinary infectious disease diagnostics market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Veterinary Infectious Disease Diagnostics Market Driver ­– Increase In The Incidence Of Transboundary And Zoonotic Diseases Such As Rabies
For instance, in 2021, according to the World Health Organization (WHO), a Swiss-based government agency, rabies disease was found in over 150 nations and territories. Dogs are the most common source of human rabies deaths, accounting for up to 99% of all rabies transmissions. Children under the age of 15 make up 40% of those bitten by suspected rabid animals. Infection kills tens of thousands of people every year, mostly in Asia and Africa. Therefore, the increasing incidence of transboundary and zoonotic diseases is driving the growth of the veterinary infectious disease diagnostics market.

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Key Veterinary Infectious Disease Diagnostics Market Trend – Technological Advancement Major companies operating in the veterinary infectious disease diagnostics market are introducing new technological innovations to sustain their position in the market. For instance, in 2020, LexaGene, a US-based company operating in veterinary infectious disease diagnostics, released MiQLab, a gold standard diagnostic equipment that uses a unique RT-qPCR-based technology to evaluate each sample’s contents for up to 27 distinct pathogens in under an hour. MiQLab is unique in that it is open-source, allowing users to customize existing tests and build new ones with ease. If a new test is necessary due to a mutation, the open-access functionality allows new tests to be developed quickly on LexaGene’s MiQLab system.

Veterinary Infectious Disease Diagnostics Market Segment
1) By Infection Type: Viral Infections, Bacterial Infections, Parasitic Infections, Other Infections
2) By Animal Type: Companion Animal, Food-Producing animals
3) By Technology: Immunodiagnostics, Molecular Diagnostic, Other Technologies
4) By End User: Reference Laboratories, Veterinary Hospitals and Clinics, Point of Care, Research Institutes and Universities, Other End Users

Veterinary Infectious Disease Diagnostics Market Major Players and Strategies
Major players in the veterinary infectious disease diagnostics market are Zoetis Inc., IDEXX Laboratories Inc., Thermo Fisher Scientific Inc., QIAGEN N.V., IDvet, NEOGEN Corporation, INDICAL BIOSCIENCE GmbH, Randox Laboratories Ltd., Creative Diagnostics, Heska Corporation, Chembio Diagnostics, URIT Medical Electronic Co. Ltd., NTBIO Diagnostics Inc., Bio-X Diagnostics, and Agrolabo Spa.

In January 2020, Heska Corp., a US-based company that manufactures point-of-care diagnostics equipment and imaging devices, acquired Scil Animal Care Co. for a deal amount of $110 million. With this acquisition, Heska Corp.’s overseas market share increased to 40% in Germany and 30% in Spain and France, which also expanded the company’s animal care offering. Social Animal Care is a France based company that manufactures veterinary diagnostic devices.

The Veterinary Infectious Disease Diagnostics Global Market Report 2023 covers regional data on veterinary infectious disease diagnostics market size, veterinary infectious disease diagnostics market trends and drivers, opportunities, strategies, and veterinary infectious disease diagnostics market competitor analysis. The countries covered in the veterinary infectious disease diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The veterinary infectious disease diagnostics refer to diagnostic services that are used for the identification of infectious diseases in animals. These are the sets of infectious diseases and the factors that impact the health of livestock, domestic animals, and wildlife. Veterinary diagnostics has become essential to ensure the overall well-being of animals. These diagnose the infections caused in all types of animals.

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