Veterinary Diagnostic Equipment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Veterinary Diagnostic Equipment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UNITED KINGDOM, September 16, 2024 /EINPresswire.com/ -- The veterinary diagnostic equipment market has experienced robust growth in recent years, expanding from $1.02 billion in 2023 to $1.09 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increasing pet ownership, growing livestock industry, prevalence of companion animals, demand for preventive veterinary care, rising disposable income levels.
Strong Future Growth Anticipated
The veterinary diagnostic equipment market is projected to continue its strong growth, reaching $1.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to rising pet healthcare awareness, global pandemic preparedness, increasing focus on animal disease surveillance and control, increased pet insurance.
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Growth Driver Of The Veterinary Diagnostic Equipment Market
An increase in the prevalence rate of diseases among animals serves as one of the major drivers of the veterinary diagnostic equipment market. Due to the increase in the incidence of diseases in livestock and pets, the demand for enhanced diagnostic equipment increases.
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Major Players And Veterinary Diagnostic Equipment Market Trends
Key players in the veterinary diagnostic equipment market include IDEXX Laboratories Inc., ABAXIS Inc., HESKA Corporation, Zoetis Inc., Virbac, Mindray Medical International Limited, Neogen Corporation.
Major companies operating in the veterinary diagnostic equipment market are focusing on innovative products like novel diagnostic tests for kidney injury to better meet the needs of their existing consumers. A 'Novel Diagnostic Test for Kidney Injury' is a ground-breaking or revolutionary medical test that identifies and assesses renal damage or injury in a more accurate, sensitive, and specific manner than existing diagnostic approaches. Such a test may use of emerging technology, novel biomarkers, or novel techniques to improve the early diagnosis and accurate evaluation of kidney damage, resulting in better care and outcomes.
Veterinary Diagnostic Equipment Market Segments:
1) By Product: Hematology, Immunodiagnostics, Clinical Chemistry, Molecular Testing
2) By Animal: Livestock Cattle, Domestic Pets
3) By End Users: Hospitals And Clinics, Reference Laboratories, Universities/Research Centers, Point-Of-Care/In-House Testing
Geographical Insights: North America Leading The Veterinary Diagnostic Equipment Market
North America was the largest region in the veterinary diagnostic equipment market in 2023. Asia-Pacific was the second-largest region in the global veterinary diagnostic equipment market analysis. The regions covered in the veterinary diagnostic equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Veterinary Diagnostic Equipment Market Definition
Veterinary diagnostic equipment refers to devices and instruments mainly used by veterinary practitioners in determining and identifying various disorders in animals by using various diagnostic equipment such as clinical thermometers, diagnostic lights, X-ray equipment, and certain diagnostic test kits to detect the cause of disease and determine the treatment schedule for animals.
Veterinary Diagnostic Equipment Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Veterinary Diagnostic Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on veterinary diagnostic equipment market size, veterinary diagnostic equipment market drivers and trends, veterinary diagnostic equipment market major players, veterinary diagnostic equipment competitors' revenues, veterinary diagnostic equipment market positioning, and veterinary diagnostic equipment market growth across geographies. The veterinary diagnostic equipment market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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