Industry Trends Show Veterinary Point-Of-Care (POC) Hematology Diagnostics Market Set to Expand at 13% CAGR Until 2029
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What CAGR Is Anticipated for the Veterinary Point-Of-Care (POC) Hematology Diagnostics Market Through 2029?
The market size of the veterinary point-of-care (poc) hematology diagnostics has seen a swift expansion in recent times. It is projected to increase from $1.41 billion in 2024 to $1.6 billion in 2025, progressing at a compound annual growth rate (CAGR) of 13.1%. Factors contributing to its growth during the historical period include a surge in pet ownership, growing demand for health services for companion animals, expansion of veterinary clinics, heightened awareness about animal health, and rising need for quick diagnostic results.
The market size for point-of-care (poc) hematology diagnostics in veterinary medicine is poised to experience a swift expansion in the coming years. The market is projected to reach $2.6 billion in 2029, with a compound annual growth rate (CAGR) of 13.0%. The growth during the forecast period is attributed to factors such as the rise in pet insurance, escalating needs for livestock surveillance, growing expenditures on veterinary healthcare, increasing adoption of handheld diagnostic tools, and a rising inclination for less invasive testing methods. The forecast period will also see key trends such as advancements in diagnostic technologies, incorporation of technology in POC devices, greater adoption of AI in diagnostics, integration with telemedicine platforms and a gradual move towards personalized veterinary care.
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What Market Forces Are Driving The Veterinary Point-Of-Care (POC) Hematology Diagnostics Sector In 2025 And Beyond?
The rise in pet ownership is anticipated to fuel the expansion of the veterinary point-of-care (POC) hematology diagnostics market. Pet ownership involves looking after a domesticated animal such as a dog, cat, bird, or other pet, ensuring it’s basic needs, health, and overall welfare. This surge in pet ownership primarily stems from increased urbanization, with city dwellers turn to pets for companionship and emotional support in often smaller, isolated living environments. Veterinary point-of-care (POC) hematology diagnostics contribute to pet ownership by facilitating rapid, at-hand blood analysis that results in faster diagnosis, prompt treatments, and superior health results for domestic animals. For example, according to a 2024 report by Shelter Animals Count, a non-profit organization in the US, dog and cat adoptions totaled 4,192,443, including 2 million dogs and 2 million cats. This marked a marginal increase of 0.4% or an additional 17,153 adoptions from 2023. Hence, the rising trend of pet ownership is propelling the veterinary point-of-care (POC) hematology diagnostics market’s growth.
How Is The Global Veterinary Point-Of-Care (POC) Hematology Diagnostics Market Categorized By Segments?
The veterinary point-of-care (POC) hematology diagnostics market covered in this report is segmented –
1) By Product Type: Instruments, Consumables
2) By Animal Type: Livestock Animals, Companion Animals, Other Animal Types
3) By Application: Blood Disorders, Metabolic Disorders, Other Applications
4) By End User: Veterinary Clinics, Veterinary Hospitals, Research Laboratories, Other End-Users
Subsegments:
1) By Instruments: Analyzers, Blood Gas Electrolyte Analyzers, Coagulation Analyzers, Other Instruments
2) By Consumables: Reagents, Controls And Calibrators, Slides, Cuvettes, Other Consumables
What Long-Term Trends Are Likely To Affect The Veterinary Point-Of-Care (POC) Hematology Diagnostics Market?
Leading companies in the veterinary point-of-care (POC) hematology diagnostics market are directing their efforts towards creating innovative items like veterinary analyzers to increase diagnostic speed and accuracy in clinical environments. Veterinary analyzers are diagnostic medical tools utilized in animal healthcare for assessing biological samples such as blood, serum, or urine. These instruments aid vets in diagnosing, tracking, and handling a variety of animal diseases by offering quick and precise test results. For instance, Seamaty Diagnostic Co., Ltd., a medical equipment manufacturing company from China, launched four sophisticated veterinary analyzers in August 2023 to deliver rapid and precise on-site diagnostics, greatly enhancing the efficiency and quality of service in pet hospitals. These analyzers include the VG2 vet blood gas electrolyte immunoassay analyzer for combined blood gas and immunoassay testing; the portable VG1 veterinary blood gas & electrolyte analyzer used for critical care monitoring; the Vi1 veterinary fluorescence immunoassay analyzer that utilizes state-of-the-art nanocrystal technology for sensitive diagnostics; and the VBC30/VBC50 hematology analyzers that conduct detailed blood counts crucial for early disease detection.
Which Firms Are Considered Leaders In The Veterinary Point-Of-Care (POC) Hematology Diagnostics Market Space?
Major companies operating in the veterinary point-of-care (POC) hematology diagnostics market are Zoetis Inc., IDEXX Laboratories, Sysmex Corp., Bio-Rad Laboratories Inc., HORIBA Medical, Carestream Health Inc., Virbac, Randox Laboratories Ltd., ESAOTE SPA, FUJIFILM SonoSite, Heska Corporation, Getein Animal Medical Technology, Boule Diagnostics AB, Genrui Biotech Inc., Drucker Diagnostics, Volition, Woodley Equipment Company Ltd, Eurolyser Diagnostica GmbH, Hoëk Labs, Bioevopeak
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What Role Do Regional Policies And Investments Play In Veterinary Point-Of-Care (POC) Hematology Diagnostics Market Expansion?
North America was the largest region in the veterinary point-of-care (POC) hematology 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 (POC) hematology diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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