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 According to The Business Research Company’s Global Market Report 2023 for Veterinary Diagnostic Equipment, the market is projected to rise from $0.94 billion in 2022 to $1.01 billion in 2023, achieving a 7.6% CAGR. Anticipated market growth will lead to a size of $1.31 billion in 2027, with a 6.7% CAGR.

What was the major driver in the veterinary diagnostic equipment market?
The rising disease prevalence among animals is a key driver of the veterinary diagnostic equipment market. Increased disease incidents in livestock and pets boost demand for advanced diagnostic tools. For example, the Banfield Pet Hospital’s 2020 VET Report noted that over 50% of dogs at 1,000 hospitals in 2019 were overweight or obese, leading to preventable conditions like joint and respiratory diseases. Growing animal disease rates drive demand for diagnostic equipment in the veterinary market.

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What was the key trend in the veterinary diagnostic equipment market?
Veterinary diagnostic equipment manufacturers are adopting advanced technologies, like blood microsampling, to enhance precision in animal disease diagnosis. Blood microsampling simplifies blood sample collection for livestock and companion animals, with samples sent to labs for diagnosis. This method extends dry blood sampling. Neoteryx introduced the ‘3Rs-compliant Mitra’ microsampling device, utilizing Volumetric Absorptive Micro Sampling (VAMS) technology for convenient and accurate remote sampling. Companies like Diatron are also investing in microsampling trends, with products like the Diatron Aquila hematology analyzer.

Which was the largest region in the veterinary diagnostic equipment market?
North America was the largest region in the veterinary diagnostic equipment market in 2022. Asia-Pacific was the second-largest region in the global veterinary diagnostic equipment market analysis. The regions covered in the global veterinary diagnostic equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Who are the veterinary diagnostic equipment market prominent players?
Major players in the veterinary diagnostic equipment market are IDEXX Laboratories, ABAXIS, HESKA Corporation, Zoetis, Virbac, Mindray Medical International Ltd., Neogen Corporation, QIAGEN N.V., Agfa Healthcare, and Toshiba.

Key veterinary diagnostic equipment market segments
The global veterinary diagnostic equipment market is segmented –
1) By Product: Hematology, Immunodiagnostics, Clinical Chemistry, Molecular Testing
2) By End Users: Hospitals And Clinics, Reference Laboratories, Universities/Research Centers, Point-Of-Care/In-House Testing
3) By Animal: Livestock Cattle, Domestic Pets

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The Veterinary Diagnostic Equipment Global Market Report 2023  provides a comprehensive overview on the veterinary diagnostic equipment market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

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