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Veterinary infectious disease diagnostics market which is USD 1.80 billion in 2022, is expected to reach USD 3.67 billion by 2030, at a CAGR of 9.3% during the forecast period 2023 to 2030
"Data Bridge Market research has recently issued comprehensive industry research on Global Veterinary Infectious Disease Diagnostics Market Market which includes growth analysis, regional marketing, challenges, opportunities, and drivers analysed in the report. The market insights gained through this Veterinary Infectious Disease Diagnostics Market market research analysis report facilitates more defined understanding of the market landscape, issues that may interrupt in the future, and ways to position definite brand excellently.
An analysis of competitors is conducted very well in the reliable Veterinary Infectious Disease Diagnostics Market Market report which covers vital market aspects about the key players. Moreover, the report gives out market potential for many regions across the globe based on the growth rate, macroeconomic parameters, consumer buying patterns, their preferences for particular product and market demand and supply scenarios. It gives significant information and data pertaining to their insights in terms of finances, product portfolios, investment plans, and marketing and business strategies. Detailed market analysis has been performed here with the inputs from industry experts.
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Increased demand for animal-derived food products, an increase in the number of veterinary practitioners, the adoption of disease control and disease prevention measures, the growth of the companion animal population, and the prevalence of favourable pet insurance policies are some of the most insightful factors that will likely boost the growth of the veterinary infectious disease diagnostics market during the forecast period of 2023-2030. On the other hand, rising applications from emerging economies and rising vegan population trends will create immense opportunities for the veterinary infectious disease diagnostics market during the forecast period.
Animals with infectious infections who are not treated for an extended period of time can die. As a result, treating animals with these diseases necessitates early diagnosis and treatment. Furthermore, veterinary diagnostics refers to the processes and examinations used to detect the presence of infectious diseases. These tests and methods also make use of veterinary infectious disease diagnostics. These diagnostics can detect infectious diseases caused by viruses, bacteria, and parasites in animals. Additionally, diagnostics can be performed to detect contagious diseases in animals such as cats and dogs. The primary drivers of the global Veterinary Infectious Disease Diagnostics Market are an increase in pet ownership and an increase in animal health expenditure.
Increased adoption of companion animals
The demand for pet care goods and services is expected to rise in response to the growing pet population, which will fuel the global expansion of related sectors such as the veterinary infectious disease diagnostics market. According to the American Pet Products Association's (APPA) National Pet Owners Survey, 68% of US homes, or approximately 84.9 million families, owned a pet in North America. In addition, 43 million families had cats, 64 million had dogs, and 1.7 billion had all three. As the demand for pets grows, the demand for veterinary infectious disease diagnostics also grows.
Increase in R&D activities
The cost increase reflects owners' desire to take their dogs for diagnostic tests. These factors will cause the market to grow significantly in the coming years. Furthermore, an increase in R&D activities and the availability of good healthcare infrastructure are significantly supporting the regional market's overall expansion. For instance, in September 2021, the International Society for Infectious Diseases (a branch of the United Nations) will present various awards in various infectious disease-related subjects. A large number of grants are available for veterinary infectious diagnostics.
Opportunities
Rising prevalence of transboundary and zoonotic diseases
Rabies in pets and animals is detected using veterinary infectious disease diagnostics. These devices are used to keep animals from killing themselves. For instance, rabies disease was discovered in over 150 nations and territories in 2021, according to the World Health Organization (WHO), a Swiss-based government agency. Dogs are the leading cause of human rabies deaths, accounting for up to 99% of rabies transmissions. 40% of those bitten by suspected rabid animals are under the age of 15. Every year, infection kills tens of thousands of people, primarily in Asia and Africa. As a result, the growing prevalence of transboundary and zoonotic diseases is propelling the veterinary infectious disease diagnostics market forward.
The veterinary infectious disease diagnostics market is segmented on the basis of technology, animal type, infection type, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Veterinary Infectious Disease Diagnostics Market Regional Analysis/Insights
The veterinary infectious disease diagnostics market is analyzed and market size insights and trends are provided by country, technology, animal type, infection type, and end user as referenced above.
The countries covered in the veterinary infectious disease diagnostics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the veterinary infectious disease diagnostics market due to the diagnostic products' availability, increasing pet ownership, and rising healthcare expenditure.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the prevalence of various market players along with rising awareness among the people related to animal health.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The veterinary infectious disease diagnostics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for veterinary infectious disease diagnostics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the veterinary infectious disease diagnostics market. The data is available for historic period 2011-2021.
Highlights of TOC:
Chapter 1: Market overview
Chapter 2: Global Veterinary Infectious Disease Diagnostics Market Market
Chapter 3: Regional analysis of the Global Veterinary Infectious Disease Diagnostics Market Market industry
Chapter 4: Veterinary Infectious Disease Diagnostics Market Market segmentation based on types and applications
Chapter 5: Revenue analysis based on types and applications
Chapter 6: Market share
Chapter 7: Competitive Landscape
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
Chapter 9: Gross Margin and Price Analysis
Key Questions Answered with this Study
1) What makes Veterinary Infectious Disease Diagnostics Market Market feasible for long term investment?
2) Know value chain areas where players can create value?
3) Teritorry that may see steep rise in CAGR & Y-O-Y growth?
4) What geographic region would have better demand for product/services?
5) What opportunity emerging territory would offer to established and new entrants in Veterinary Infectious Disease Diagnostics Market Market?
6) Risk side analysis connected with service providers?
7) How influencing factors driving the demand of Veterinary Infectious Disease Diagnostics Marketin next few years?
8) What is the impact analysis of various factors in the Global Veterinary Infectious Disease Diagnostics Market Market growth?
9) What strategies of big players help them acquire share in mature market?
10) How Technology and Customer-Centric Innovation is bringing big Change in Veterinary Infectious Disease Diagnostics Market Market?
Some of the major players operating in the veterinary infectious disease diagnostics market are:
BIOMÉRIEUX (France)
Heska Corporation (U.S.)
IDEXX (U.S.)
Neogen Corporation (U.S.)
INDICAL BIOSCIENCE GmbH (Germany)
Randox Laboratories Ltd. (U.K.)
Thermo Fisher Scientific Inc. (U.S.)
Virbac (France)
Zoetis (U.S.)
Creative Diagnostics (U.S.)
DRG INSTRUMENTS GMBH (Germany)
Chembio Diagnostic Systems, Inc. (U.S.)
Eurofins Technologies (Luxembourg)
Abaxis (U.S.)
Agrolabo S.p.A. (Italy)
Abbott (U.S.)
Danaher (U.S.)
By Technology (Immunodiagnostics, Molecular Diagnostics, Other Veterinary Diagnostic Technologies), Animal Type (Companion Animals, Food Producing Animals), End User (Reference Laboratories, Veterinary Laboratories and Clinics, Point of Care / In House Testing, Research Institutes and Universities), Infection Type (Bacterial Infections, Viral Infections, Parasitic Infections, Other Infections)
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