USD 2183.35 million
Report ID: SQSG35I2030 | Region: Global | Published Date: September, 2022 | Pages: 165 | Tables: 117 | Figures: 77
Global Veterinary Immunodiagnostics Market size was valued at USD 2183.35 million in 2021 and is poised to grow from USD 2375.1 million in 2022 to USD 4663.51 million by 2030, growing at a CAGR of 8.8% in the forecast period (2023-2030).
The rising incidence of animal disease, the availability of disease-specific immunodiagnostic tests, and improvements in immunodiagnostic technology all contribute to the market's expansion. Additionally, the rise in the number of pets and the demand for foods derived from animals both contribute to the expansion of this market. Opportunities for the expansion of this market are expected to be created by emerging economies. The development of the veterinary immunodiagnostics market, however, is anticipated to face significant obstacles due to the underdeveloped veterinary diagnostics infrastructure in developing nations.
There are more people and animals being tested because COVID-19 is becoming more common worldwide. Players and reference labs have also been prompted by this to create new and improved animal tests. The AVMA, CDC, USDA, American Association of Veterinary Laboratory Diagnosticians (AAVLD), National Association of State Public Health Veterinarians (NASPHV), and the National Assembly of State Animal Health Officials do not advocate routine COVID-19 testing of animals. Animal testing may be decided upon by public and animal health officials due to the constantly changing situation. The attending veterinarian, as well as representatives from the local, state, and/or federal public health and animal health departments, should jointly decide whether to conduct the test.
US Veterinary Immunodiagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2183.35 million
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The global veterinary immunodiagnostics market is segmented based on product, technology, animal type, end-user and regions. Based on product the Veterinary Immunodiagnostics Market is further sub segmented into analyzers and consumables segments. On the basis of technology, the Veterinary Immunodiagnostics Market can be bifurcated into ELISA, radioimmunoassay, rapid tests and other segments. On the basis of animal type, the segregation is based on companion animals and livestock segments. Based on end-users the market can be segregated into reference laboratories, veterinary hospitals and clinics, PoC testing sub segments. The regional insights of the Veterinary Immunodiagnostics Market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Veterinary Immunodiagnostics MarketAnalysis by Animal Type
The segment with the highest revenue in 2021 was companion animals, and growth is anticipated during the forecast period. This is due to factors such as the rise in pet ownership in developed nations, the popularity of pet insurance, the expansion of the global veterinary profession, and measures to control and prevent animal diseases. During the forecast period, the livestock segment will account for a sizable portion of the market. Growing global food production demand and awareness of animal health are two factors promoting the growth of this market.
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Throughout the forecast period, North America is anticipated to continue to hold a commanding position in the veterinary immunodiagnostics market. The expansion of products on the market, the sizable stakes held by the major players in the area, and the rising accessibility and affordability of early detection all contribute to this dominance. The market in Asia Pacific is anticipated to expand at the fastest rate during the forecast period due to rising pet adoption rates, zoonotic disease occurrences, and a rise in the need for diagnostics for infectious diseases in livestock.
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Veterinary Immunodiagnostics MarketDriver
Veterinary Immunodiagnostics MarketRestraint
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Pet adoption is on the rise right now because studies show that they help people's mental health. People are willing to spend a sizable amount of money to improve the health of their pets because they are worried about it. The participants have joined forces with a number of other businesses or
Veterinary Immunodiagnostics Market Top Players Company Profiles
Veterinary Immunodiagnostics Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the Global veterinary immunodiagnostics market is segmented based on product, technology, animal type, end-user and regions. The segment with the highest revenue in 2021 was companion animals, and growth is anticipated during the forecast period. This is due to factors such as the rise in pet ownership in developed nations, the popularity of pet insurance, the expansion of the global veterinary profession, and measures to control and prevent animal diseases. Throughout the forecast period, North America is anticipated to continue to hold a commanding position in the veterinary infectious disease diagnostics market.
|Market size value in 2021||USD 2183.35 million|
|Market size value in 2030||USD 2375.1 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Veterinary Immunodiagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Veterinary Immunodiagnostics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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