Top Growth Trends in the Veterinary Point Of Care Diagnostics Market: Insights into Market Size and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Major Market Drivers Are Expected to Boost the Growth Potential of the Veterinary Point Of Care Diagnostics Market?
The growth of the veterinary point-of-care diagnostics market is predicted to be driven by the rising population of companion animals. Companion animals, pets that cohabitate with humans, are causing an uptick in demand for veterinary point-of-care diagnostics. These rapid testing methods assist with quick clinical decision-making in the stages of diagnosis, treatment choice and tracking, alongside resource management and operational decisions. For example, the American Pet Products Association’s 2021-2022 National Pet Owners Survey shows that 70% of all US households possess a companion animal. As a result, the surge in the companion animal population is a significant contributor to the veterinary point-of-care diagnostics market expansion.
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#What is the Anticipated CAGR of theVeterinary Point Of Care Diagnostics Market, and What Factors Will Drive It?
In recent times, there has been significant growth in the size of the veterinary point of care diagnostics market. The market is forecasted to expand from $1.78 billion in 2024 to $2.01 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 12.9%. Factors contributing to this growth during the historic period include education and awareness initiatives, integration with telemedicine, emphasis on controlling infectious diseases, regulatory backing and approvals, and management of livestock and production animals.
In the coming years, the market size of veterinary point of care diagnostics is projected to undergo swift expansion. By 2029, it is anticipated to reach a worth of $3.33 billion, expanding at a compound annual growth rate (CAGR) of 13.5%. Factors that contribute to this growth during the forecast period can include a growing pet population, a focus on preventive healthcare, the need for access in remote and rural areas, personalized veterinary medicines, and readiness for global health crises. The forecast period will also likely see significant trends such as technological advancement, product innovation, and a growing consumer inclination towards at-home testing.
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What Are the Key Market Innovations in theVeterinary Point Of Care Diagnostics Market Over the Coming Years?
Leading entities in the veterinary point-of-care diagnostics market are innovating new veterinary analyzers to maintain their dominance. To illustrate, in August 2023, Chengdu Seamaty Technology Co., Ltd., an enterprise from China specializing in medical equipment creation, introduced four novel veterinary analyzers crafted for pet clinics, highlighting the significance of on-site diagnostic procedures. The cutting-edge devices cover the VG2 Vet Blood Gas Electrolyte Immunoassay Analyzer, VG1 Veterinary Blood Gas & Electrolyte Analyzer, Vi1 Veterinary Fluorescence Immunoassay Analyzer, and VBC30/VBC50 Hematology Analyzers, all of which deliver quick and accurate diagnostic results for a various diseases, immunity evaluation, and inflammation tracking in dogs and cats. With simple-to-use interfaces and movable structures, these analyzers can be smoothly incorporated into veterinary procedures, boosting productivity and enabling prompt decision-making for the best possible patient treatment.
Who Are the Top Companies Driving Innovation and Growth in theVeterinary 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.
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Which Key Market Segments Comprise the Veterinary Point Of Care Diagnostics Market and Drive Its Revenue Growth?
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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