Veterinary Diagnostic Equipment Market in Focus: Forecasting Growth Drivers, Scaling Potential, and Global Opportunities
Discover trends, market shifts, and competitive outlooks for the veterinary diagnostic equipment industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
#What Is the Estimated Market Size of the Veterinary Diagnostic Equipment Market In 2029?#_x000D_
In the last few years, there has been a substantial expansion in the market size of veterinary diagnostic equipment. It is predicted to escalate from $1.4 billion in 2024 to $1.51 billion in 2025, marking a compound annual growth rate (CAGR) of 7.4%. The growth during the historical period is influenced by several factors such as the rise in pet adoption, expansion of the livestock industry, common presence of companion animals, preference for preventive veterinary care, and increased levels of disposable income._x000D_
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The market scale for veterinary diagnostic equipment is predicted to experience substantial expansion in the coming years. The market is expected to reach $1.98 billion by 2029, with a compound annual growth rate (CAGR) of 7.0%. Factors contributing to this anticipated growth during the forecast period include enhanced awareness of pet health, readiness for global pandemics, greater emphasis on monitoring and controlling animal illnesses, and an upturn in pet insurance. Notable trends projected for the forecast period entail the integration of digital technologies, telemedicine, point-of-care testing, artificial intelligence, machine learning, and environmentally-friendly practices._x000D_
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#What Are the Core Market Drivers Propelling Growth in the Veterinary Diagnostic Equipment Industry?#_x000D_
The escalating occurrence of diseases in animals is identified as one of the key factors propelling the growth of the veterinary diagnostic equipment market. The rise in disease incidence in both farm animals and pets heightens the need for advanced diagnostic tools. For example, in July 2023, the World Health Organization, a UN-operated global public health agency based in Switzerland, received epidemic reports of highly pathogenic H5N1 avian influenza in poultry and wild birds from 67 countries across five continents. Over 131 million domestic birds were affected, leading to their death or forcible culling in infected farms and communities in 2022. This surge in diseases among animals translates into increased demand for diagnostic equipment, thereby stimulating the expansion of the veterinary diagnostic equipment market._x000D_
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#How Is the Veterinary Diagnostic Equipment Market Segmented?#_x000D_
The veterinary diagnostic equipment market covered in this report is segmented –_x000D_
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1) By Product: Hematology, Immunodiagnostics, Clinical Chemistry, Molecular Testing_x000D_
2) By Animal: Livestock Cattle, Domestic Pets_x000D_
3) By End Users: Hospitals And Clinics, Reference Laboratories, Universities Or Research Centers, Point-Of-Care Or In-House Testing_x000D_
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Subsegments:_x000D_
1) By Hematology: Hematology Analyzers, Hematology Reagents And Kits_x000D_
2) By Immunodiagnostics: Immunoassay Analyzers, Immunoassay Reagents And Kits_x000D_
3) By Clinical Chemistry: Chemistry Analyzers, Clinical Chemistry Reagents And Kits_x000D_
4) By Molecular Testing: PCR (Polymerase Chain Reaction) Machines, Molecular Testing Reagents And Kits_x000D_
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#Which Regions Are Driving the Next Phase of the Veterinary Diagnostic Equipment Market Growth?#_x000D_
North America was the largest region in the veterinary diagnostic equipment market in 2023. Asia-Pacific was the second-largest region in the global veterinary diagnostic equipment market analysis. The regions covered in the veterinary diagnostic equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa._x000D_
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#What Are the Key Market Trends in the Veterinary Diagnostic Equipment Market Over the Coming Years?#_x000D_
Manufacturers of veterinary diagnostic equipment incorporate cutting-edge technologies such as refined blood microsampling methods to augment precision in disease diagnosis in animals, focusing on the needs of the patient. The microsampling of blood permits users to easily obtain blood samples from their animals, both livestock and household pets. These samples are subsequently sent to laboratories for further examination. This method is an advanced version of the dry blood sampling collection method. For instance, Neoteryx has developed the ‘3Rs-compliant Mitra,’ a device for microsampling that operates the principle of microsampling. The gadget utilizes Neoteryx’s proprietary Volumetric Absorptive Micro Sampling (VAMS) technology to make remote sampling more accessible and accurate. Diatron along with its Diatron Aquila hematology analyzer, are among the other firms investing in the microsampling trend._x000D_
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#How Is the Veterinary Diagnostic Equipment Market Defined and What Are Its Core Parameters?#_x000D_
Veterinary diagnostic equipment refers to devices and instruments mainly used by veterinary practitioners in determining and identifying various disorders in animals by using various diagnostic equipment such as clinical thermometers, diagnostic lights, X-ray equipment, and certain diagnostic test kits to detect the cause of disease and determine the treatment schedule for animals._x000D_
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