Key Trends and Insights into the Veterinary Point Of Care Diagnostics Market: Growth Rate and Opportunities to 2034
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What key factors are powering the surge in the veterinary point of care diagnostics market right now?
The market size for veterinary point of care diagnostics has experienced swift growth in the past few years. The market is expected to expand from $1.78 billion in 2024 to $2.01 billion in 2025, reflecting a compound annual growth rate (CAGR) of 12.9%. Factors fueling this growth during the historic period include educational and awareness initiatives, integration with telemedicine, emphasis on controlling infectious diseases, regulatory backing and approvals, along with management of livestock and production animals.
How fast Is the veterinary point of care diagnostics market expected to grow, and what’s its future value?
The market size for veterinary point of care diagnostics is projected to experience significant growth over the coming years, reaching a value of $3.33 billion in 2029 with a compound annual growth rate (CAGR) of 13.5%. This surge during the forecast period is linked to factors such as a rise in pet ownership, a focus on preventive healthcare, the necessity for remote and rural access, personalized veterinary medicine advancement, and worldwide health preparedness. Key trends for the predicted period encompass technological progress, innovative products, and a shift towards home testing by consumers.
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What are the leading drivers of growth in the veterinary point of care diagnostics market?
The growth of the veterinary point-of-care diagnostics market is anticipated to be fuelled by the rising companion animal population. Companion animals are pets that cohabit with humans in their homes. The escalating population of these companion animals has led to an augmented demand for veterinary point-of-care diagnostics, which provide quicker clinical decisions in the processes of diagnosis, selection of treatment and monitoring, prognostication, as well as in the overall management of resources and operational decisions. Drawing from the 2021-2022 National Pet Owners Survey by the American Pet Products Association, a non-profit industry body based in the US, it is noted that companion animals are present in 70% of all American households. Hence, it is clear that the growth in the companion animal population is a significant catalyst for the expansion of the veterinary point-of-care diagnostics market.
What are the key segments defining the veterinary point of care diagnostics market?
The veterinary point of care diagnostics market covered in this report is segmented –
1) By Product: Consumables, Reagents And Kits, Instruments And Devices
2) By Animal Type: Companion Animals, Livestock Animals
3) By Disease: Infectious Diseases, Metabolic Diseases, Other Diseases
4) By Technology: Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Hematology, Urinalysis, Other Technologies
5) By End User: Veterinary Clinics, Veterinary Hospitals And Academic Institutes, Home Care Settings
Subsegments:
1) By Consumables: Test Strips, Blood Collection Tubes, Urine Test Strips, Microbial Culture Media
2) By Reagents And Kits: Enzyme-Linked Immunosorbent Assay (ELISA) Kits, PCR Reagents, Rapid Test Kits, Diagnostic Assay Kits
3) By Instruments And Devices: Portable Analyzers, Diagnostic Imaging Devices, Hematology Analyzers, Biochemical Analyzers
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Who are the key players steering the development of the veterinary point of care diagnostics market?
Major companies operating in the veterinary point of care diagnostics market are Zoetis Inc., IDEXX Laboratories Inc., Heska Corporation, Virbac Animal Health India Pvt Ltd, Eurolyser Diagnostica GmbH, Randox Laboratories Ltd, Anipoc Ltd, Neogen Corporation, Abaxis Inc., Alvedia, bioMérieux SA, Bionote Inc., Clindiag Systems Co. Ltd., Coris BioConcept, Creative Diagnostics, DiaSys Diagnostic Systems GmbH, Eiken Chemical Co. Ltd., Gold Standard Diagnostics Corp., Hangzhou AllTest Biotech Co. Ltd., InBios International Inc.
What emerging trends are influencing the growth of the veterinary point of care diagnostics market?
Leading companies in the veterinary point-of-care diagnostics sector are innovating new veterinary analyzers to maintain their market standing. For example, in August 2023, Chengdu Seamaty Technology Co., Ltd., a company based in China that manufactures medical equipment, introduced four analyzers specifically curated for pet health centers, highlighting the importance of in-house diagnostics. The next-generation devices, referred to as VG2 Vet Blood Gas Electrolyte Immunoassay Analyzer, VG1 Veterinary Blood Gas & Electrolyte Analyzer, Vi1 Veterinary Fluorescence Immunoassay Analyzer, and VBC30/VBC50 Hematology Analyzers, offer quick and accurate diagnostic data for diseases, immunity evaluation, and inflammation monitoring in dogs and cats. These analyzers, with their intuitive interfaces and compact designs, allow for effortless incorporation into veterinary procedures, boosting productivity and enabling in-the-moment decision-making for the best patient care.
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Which regions are most influential in expanding the veterinary point of care diagnostics market?
North America was the largest region in the veterinary point of care diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary point of care diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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