This report aims to provide detailed insights
into the global Veterinary
Infectious Disease Diagnostics Market. It
provides valuable information on the type, procedure, application, and region
in the market. Furthermore, the information for these segments, by region, is
also presented in this report. Leading players in the market are profiled to
study their product offerings and understand the strategies undertaken by them
to be competitive in this market.
Revenue Growth Analysis:
[392 Pages Report] The veterinary infectious disease
diagnostics market is expected to reach USD 2.6 billion by 2026 from an
estimated USD 1.7 billion in 2021, at a CAGR of 9.0%.
Key Factors Driving Market Growth:
Growth in veterinary
infectious disease diagnostics market can largely be attributed to the growth
in the companion animal population, increasing incidence of transboundary and
zoonotic diseases, rising demand for animal-derived food products, rising demand
for pet insurance, growing animal health expenditure, and growth in the number
of veterinary practitioners and income levels in developed economies.
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Veterinary Infectious Disease Diagnostics Market Dynamics:
Growth in the Companion Animal Population
A surge in the overall companion
animal population and adoption rate has been witnessed on a global scale.
According to several studies, having a companion animal is associated with
positive health benefits, such as reduced cardiac arrhythmias, normalization of
blood pressure, decreased anxiety, greater psychological stability, and
improved well-being. The increasing pet population is expected to drive the
demand for pet care products and services, which, in turn, will support the
growth of dependent industries such as veterinary infectious disease
diagnostics.
North America:
1. According to a National Pet Owners Survey (2019–2020) conducted by the
American Pet Products Association (APPA), an estimated 67% of US households, or
about 84.9 million families, owned a pet.
2. Around 63.4 million households owned dogs, 42.7 million owned cats, and 1.6
million owned horses in the US in 2018.
Increased Use of PCR Testing Panels to Rule Out Covid-19 Virus in Animals
With regard to the current
COVID-19 pandemic, animal health authorities have been carrying out tests to
understand how the virus is affecting animals. So far, research studies and
testing show that felines are more susceptible than other animals. Testing also
shows that the virus spreads less from animal to animal as opposed to
human-human or human-animal. It is expected that pet owners will increasingly
start testing their pets for the absence of these diseases, thus increasing the
demand for PCR panels for virus testing. This will create opportunities for new
molecular diagnostics panels in the industry.
North America accounted
for the largest share of the Veterinary Infectious Disease Diagnostics Market
North America accounted for the
largest share of the global veterinary infectious disease diagnostics market.
The growth in the veterinary diagnostics market of North America is characterized by the
increasing population of companion and food-producing animals, rising meat and
dairy product consumption, the availability of technologically advanced
veterinary reference laboratories, rising veterinary healthcare expenditure,
and growth in pet insurance coverage.
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Some of the major players in the
veterinary infectious disease diagnostics market include IDEXX Laboratories,
Inc. (US), Zoetis, Inc. (US), Thermo Fisher Scientific, Inc. (US), Virbac
(France), bioMérieux SA (France), Heska Corporation (US), IDvet (France),
NEOGEN Corporation (US), QIAGEN N.V. (a part of INDICAL Bioscience) (Europe),
Randox Laboratories Ltd. (UK), Agrolabo S.p.A. (Italy), Bio-Rad Laboratories
(US), Bionote, Inc. (South Korea), Biogal Galed Labs (Israel), BioChek
(Netherlands), (UK), Biopanda Reagents (UK), URIT Medical Electronic Co. Ltd.
(China), MEGACOR Diagnostik GmbH (Austria), LIVET (UK), INDICAL BIOSCIENCE GmbH
(Germany), Fassisi GmbH (Germany), Alvedia (France), SKYER, Inc. (South Korea),
Shenzhen Bioeasy Biotechnology Co., Ltd. (China), and Precision Biosensor (US).
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