Veterinary Infectious Disease Diagnostics Market: Targeting a Whopping US$ 4.9 Billion by 2033

The global Veterinary Infectious Disease Diagnostics Market is expected to be worth US$ 1.9 billion by 2023. According to Future Market Insights (FMI), the veterinary infectious disease diagnostics market is expected to exceed US$ 4.9 billion over the next decade. The market is expected to grow at a 10.1% CAGR between 2023 and 2033.

The increased frequency of infectious animal illnesses is predicted to further fuel the demand for veterinary diagnostics. Additionally, improvements in diagnostics and an increasing adoption of novel procedures in the majority of laboratories are fueling market expansion. For instance, FORCE Technology established AeroCollect A/S in August 2021 as a new business.
The AeroCollect technique provides a picture of the illnesses in a herd using straightforward air samples. Animal diagnostics have undergone a revolution owing to the Danish researchers at the GTS institute FORCE Technology. Presently, the swine, poultry, and mink industries employ AeroCollect technology. The worldwide COVID-19 pandemic has had an effect on every industry.

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No animal can spread this virus, according to the OIE. A veterinary parameter was added to the K+ Potassium test offered by Eurolyser Diagnostica GmbH in November 2018. The popularity of veterinary point-of-care devices is anticipated to rise throughout the projected period due to their quick and affordable manner of diagnostics. The change in veterinary point-of-care diagnostics has been facilitated by developments in lateral flow technologies, such as microfluidics.

The prevalence of pet insurance in North America has increased the likelihood that owners would subject their animals to diagnostic testing. Similar to how more diagnostic tests stop illnesses from spreading, the growth in zoonotic diseases is one of the main reasons for doing so. According to a research document by the World Wildlife Fund that was published in August 2020, zoonoses account for 60.3% of all newly developing illnesses.

Over the past few years, there has been a steady rise in the adoption of pets. For instance, according to the American Pet Products Association, the number of cats, dogs, and horses adopted countrywide increased from 172.5 million in 2011-2012 to 191.5 million in 2017-2018. (APPA). Numerous European nations have supportive regulations for companion animals. A few notable examples include the Commission Laws of the French National Assembly from 2014, the Civil Code of the Czech Republic from 2012, the Animal Welfare Act of the United Kingdom from 2006, the Austrian Constitution from 2004, the German Constitution from 2002, and the Swiss Law from October 4, 2002.

However, the adoption of point-of-care diagnostic devices among healthcare professionals is anticipated to be constrained by several reasons, such as low sensitivity of the results that might provide false positive or incorrectly negative results. The potential for animal neglect and the shortage of qualified specialists to analyze the gathered clinical data are constraints limiting the expansion of the veterinary infectious disease diagnostics market size.

Key Takeaways:
•During the anticipated period, the United States is anticipated to lead the global veterinary infectious disease diagnostics market. In the United States, veterinary diagnostics are meant to assist veterinarians utilize medicines wisely, while also developing methods to combat animal diseases and zoonoses.

•Japan is predicted to dominate the Asia Pacific veterinary infectious diseases diagnostics market throughout the forecast period. In order to improve animal health, major firms in Japan are offering diagnostic services using modern technology to identify novel ailments, particularly exotic diseases. In response to requests from the national and local governments of Japan, this is carried out.

•Owing to its increasing sales and the rising occurrence of animal illnesses, the "immunodiagnostics" technology type is expected to hold the greatest revenue through the forecast period.

•As pet popularity increases and pet insurance becomes more widely used, the "companion animal" animal type, and is the most creative segment for key companies, accounting for a sizable portion.

Competitive Landscape:
The global veterinary infectious disease diagnostics market share is fragmented as a result of both domestic and international competitors. Several companies command substantial market shares in their respective specialty areas. Large corporations generally give natural events like product approvals and the rise in pet adoption around the world a significant amount of importance. The market for veterinary infectious disease diagnostics is predicted to expand quickly as a result of these factors.

Key Players:
•Zoetis Inc.
•Thermo Fisher Scientific
•Virbac
•Biomerieux SA
•Heska Corporation
•IDvet
•NEOGEN Corporation
•QIAGEN N.V.
•Randox Laboratories Ltd.

Recent Developments:
•In September 2018, Equine Progesterone, a test for determining the progesterone level in horses, was released, according to Eurolyser Diagnostica GmbH.

•In January 2019, the Catalyst One and Catalyst Dx analyzers, an in-house testing technique for the measurement of progesterone levels in dogs, were launched by IDEXX Laboratories, Inc.

Key Segments Profiled in the Veterinary Infectious Disease Diagnostics Market Survey :

By Technology:
•Immunodiagnostics
•Molecular Diagnostic
•Others

By Animal Type:
•Companion Animal
•Food-producing Animals

By End User:
•Reference Laboratories
•Veterinary Hospitals & Clinics
•Point-of-Care
•Research Institutes & Universities

Explore Future Market Insights, Inc. Extensive Coverage in Healthcare Market Domain:

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Report: https://www.futuremarketinsights.com/reports/veterinary-infectious-disease-diagnostics-market

This release was published on openPR.