The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s veterinary point of care diagnostics market report forecasts the veterinary point of care diagnostics market size to grow to $2.59 Billion by 2027, with a CAGR (compound annual growth rate) of more than 12%.

Learn More On The Veterinary Point Of Care Diagnostics Market Report 2023 – https://www.thebusinessresearchcompany.com/report/veterinary-point-of-care-diagnostics-global-market-report

Veterinary Point Of Care Diagnostics Market Size Forecast
The global veterinary point of care diagnostics market is expected to grow from $1.41 billion in 2022 to $1.62 billion in 2023 at a compound annual growth rate (CAGR) of 15.01%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The veterniary point of care diagnostics market size is expected to reach $2.59 billion in 2027 at a CAGR of 12.52%.

North America held the largest veterinary point of care diagnostics market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Veterinary Point Of Care Diagnostics Market Driver ­– Increase In Companion Animal Population
For instance, according to the American Pet Products Association, a US-based not-for-profit industry association’s 2021-2022 National Pet Owners Survey, 70% of all US households have a companion animal. Therefore, the increasing companion animal population contributes to the veterinary point-of-care diagnostics market growth.

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Key Veterinary Point Of Care Diagnostics Market Trend – Technological Advancement
Technological improvements have helped to improve not only the quality of human life but also the animals. The veterinary point of care has advanced by leaps and bounds, allowing veterinarians to make speedier diagnoses and more precise prognoses, ultimately saving animal lives. Major companies operating in the veterinary point-of-care diagnostics market are advancing toward image recognition technology and artificial intelligence to lead the market. Image recognition technology uses software to identify objects, places, people, writing, and actions in images. For instance, in September 2020, Zoetis, a US-based manufacturer of medicine and vaccinations for pets and livestock launched Vetscan Imagyst. It delivers accurate testing results by combining image recognition technology, algorithms, and cloud-based artificial intelligence (AI). The purpose of Imagyst is to assist veterinarians in making accurate and timely point-of-care intestinal parasitic diagnoses in animals.

Veterinary Point Of Care Diagnostics Market Segment
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

Veterinary Point Of Care Diagnostics Market Major Players and Strategies
Major players in the veterinary point of care diagnostics market are Zoetis Inc., IDEXX Laboratories Inc., Heska Corporation, Virbac, NeuroLogica Corporation, Eurolyser Diagnostica GmbH, Randox Laboratories Ltd., Anipoc Ltd., Carestream Health Inc., Fujifilm Sonosite Inc., Neogen Corporation, Mindray Medical International Limited,and GE Healthcare.

In March 2022, Vimian Group, a Sweden-based veterinary company, acquired Avacta Animal Health, a veterinary allergy division of AvactaGroup PLC., for an undisclosed amount. Through this acquisition, Vimian Group aimed to strengthen its position in veterinary allergy diagnostics and treatments across the UK. AvactaGroup plc is a UK-based provider of diagnostic tools used in human and animal healthcare.

The Veterinary Point Of Care Diagnostics Global Market Report 2023 covers regional data on veterinary point of care diagnostics market size, veterinary point of care diagnostics market trends and drivers, opportunities, strategies, and veterinary point of care diagnostics market competitor analysis. The countries covered in the veterinary point of care diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Veterinary point-of-care diagnostics are used for real-time animal health diagnostics, providing clinically meaningful information in clinical practice without relying on clinical laboratory results. It reduces the turnaround time (TAT) of animal test results for clinicians and patients in the prescribed treatment course.

View More Reports Related To The Veterinary Point Of Care Diagnostics Market –
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Point-Of-Care Diagnostics Devices And Equipment Global Market Report 2023
Veterinary Patient Monitoring Equipment Global Market Report 2023

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