The global veterinary diagnostics market size was USD 6.63 Billion in 2021 and is expected to register a revenue CAGR of 11.2% during the forecast period, according to latest analysis by Emergen Research. Increasing number of laboratories adopting more creative techniques owing to recent advancements in diagnostics is a major factor driving market revenue growth. Veterinary diagnostics is an important and integral component for management as well as prevention of disease outbreak among animals. A few of the unique viruses that have appeared or reemerged in recent years and had a severe impact on a variety of industries, including animal husbandry, dairy, and other sectors, are tomato yellow leaf curl virus and citrus tristeza virus. Major viral infections cannot be cured, but if they are caught early and closely watched, they can spread more slowly, therefore globally, new Point-of-Care (PoC) testing utensils and breakthroughs in virus detection are needed.
The Global Veterinary Diagnostics Market Market Research Report added by Emergen Research to its expanding repository is an all-inclusive document containing insightful data about the Veterinary Diagnostics Market market and its key elements. The report is formulated through extensive primary and secondary research and is curated with an intent to offer the readers and businesses a competitive edge over other players in the industry.
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Effect of COVID-19 on the global market for Veterinary Diagnostics Market
The COVID-19 pandemic had a significant negative influence on the market for Veterinary Diagnostics Market in 2020, significantly decreasing its CAGR. In 2020, manufacturers and suppliers of Veterinary Diagnostics Market were significantly impacted by federal and national safety and legal orders. The majority of businesses have been impacted by the COVID-19 pandemic. Mandates for business closures, restricted municipal and state government office activities, and social conventions of distance had an impact on the production of Veterinary Diagnostics Market in 2020. Additionally, demand for Veterinary Diagnostics Market decreased across a range of end-use sectors. The pandemic epidemic also resulted in a decline in global investments in the water sector.
Veterinary Diagnostics Market market : Competitive Landscape
The prominent players operating in the Veterinary Diagnostics Market market are profiled in-depth in the report and their strategies, collaborations, and product innovations. The analysis of the key players and their strategies to fortify their presence in the market impart a better understanding of the competitive landscape of the Veterinary Diagnostics Market market .
Zoetis; Heska Corp., IDEXX Laboratories Inc., Agrolabo S.p.A., IDvet, Virbac, Thermo Fisher Scientific Inc., Neogen Corp., Covetrus, and iM3Vet Pty Ltd
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the Global Veterinary Diagnostics Market Market Research Report provides forecasts and future market projections, equipping businesses with the necessary tools to plan ahead. The report’s forward-looking approach, backed by data-driven predictions, ensures that companies can navigate the evolving market landscape with confidence. Through a combination of current market analysis and future outlook, the report serves as an invaluable resource for businesses aiming for long-term success.
Based on types, the market is segmented into
- Type Outlook (Revenue, USD Billion; 2019-2030)
- Consumables
- Instruments & Devices
- Reagents & Kits
- Species Outlook (Revenue, USD Billion; 2019-2030)
- Bovine
- Canine
- Avian
- Others
- End-use Outlook (Revenue, USD Billion; 2019-2030)
- Veterinary Hospitals
- Research Institutes
- Others
Regional Outlook :
The growth of the Veterinary Diagnostics Market Market on a global scale is influenced by region-specific dynamics. North America and Europe lead with technological innovation and solid regulatory environments, though supply chain challenges and compliance issues are present. In the Asia-Pacific region, especially in China and India, rapid urbanization and heightened consumer demand are fueling expansion. Meanwhile, emerging markets in Latin America, the Middle East, and Africa present growth potential, driven by economic reform and investment, yet face significant obstacles in the form of political instability and underdeveloped infrastructure.
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