Veterinary PoC Diagnostics Market - Growing Demand for Pet Insurance & Increasing Pet Care Expenditure

Market Size Estimation:

The total market size for the veterinary point-of-care diagnostics market was arrived at after data triangulation from three different approaches, as mentioned below.

Approach to calculate revenue of different players in the veterinary point-of-care diagnostics market

In this report, the revenue of individual companies were gathered from public sources and databases. In certain cases, the share of veterinary point-of-care diagnostics business for kits & analyzers was ascertained after a detailed analysis of various parameters, including product portfolio, market positioning, selling price, and geographic reach & strength, among others. Individual shares or estimates were validated through expert interviews.

Approach to calculate parent markets of the veterinary point-of-care diagnostics market

In this report, the veterinary companion animal diagnostics market, veterinary radiography systems market, veterinary ultrasound imaging systems market, veterinary CT scanners market, and veterinary imaging market from MnM’s repository were referred to in order to obtain the market size of the veterinary point-of-care diagnostics market. A weighted average of numbers obtained from these reports was taken to derive the market size of the global veterinary point-of-care diagnostics market.

Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=105329994

Expected Revenue Growth:

The global veterinary point-of-care diagnostics market size is projected to reach USD 2.4 billion by 2025 from USD 1.4 billion in 2019, at a CAGR of 8.9%.

Major Growth Boosting Factors:

Factors such as increasing prevalence of zoonotic diseases among companion and livestock animals and the growing need for the rapid detection of these diseases, along with the advantages of POCT over laboratory analysis are driving the growth of this market during the forecast period. However, the high cost of veterinary imaging instruments is restraining the growth of this market to some extent.

By technology, the clinical biochemistry segment accounted for the largest share of the veterinary point-of-care diagnostic kits and analyzers market in 2018

Based on technology, the market is segmented into immunodiagnostics, clinical biochemistry, molecular diagnostics, hematology, urinalysis, and other technologies. In 2018, the clinical biochemistry segment accounted for the largest share of the veterinary point-of-care diagnostic kits and analyzers industry. The higher preference for various advanced clinical diagnostic products by veterinarians and pet owners are contributing to the large share of this segment.

Geographical Growth Survey:

North America will continue to dominate the market during the forecast period

The market, by region, is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of the veterinary point-of-care diagnostics market in 2018. The large share of North America in the global market can be attributed to the increasing adoption of companion animals, growing veterinary healthcare expenditure, and rising demand for animal-derived food products.

Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=105329994

Global Leaders:

Prominent players in the veterinary point-of-care diagnostics market include Zoetis, Inc. (US), IDEXX Laboratories, Inc. (US), Heska Corporation (US), Virbac (France), Thermo Fisher Scientific, Inc. (US), Eurolyser Diagnostica GmbH (Austria), Woodley Equipment Company (UK), Randox Laboratories LTD. (UK), AniPOC, Ltd. (UK), Carestream Health, Inc. (a part of ONEX Corporation) (Canada), NeuroLogica Corporation (a part of Samsung Electronics Co. Ltd.) (South Korea), and FUJIFILM SonoSite (a part of FUJIFILM Holdings Corporation) (Japan).