COVID-19 or coronavirus disease 2019 is the disease that people get from being infected with the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). Domestic animals do not get COVID-19 as humans do, but under natural conditions, pet cats—and, to a lesser extent, pet dogs—may, albeit rarely, become infected with SARS-CoV-2 after close and prolonged contact with a COVID-19-positive person.
[392 Pages Report] The companion animal diagnostics market is projected to reach USD 3.8 billion by 2027 from USD 2.4 billion in 2022 at a CAGR of 9.6% from year 2022 to 2027. The global companion animal diagnostics market offers significant growth opportunities for market players.
Market growth can largely be attributed to the increasing companion animal population, increasing incidence of transboundary and zoonotic diseases, rising demand for pet insurance, growing animal health expenditure, and rising number of veterinary practitioners and income levels in developed economies.
The growing demand for rapid tests and portable instruments for point-of-care (POC) services alongside the use of advanced technologies, such as machine learning, in improving disease diagnosis offer growth opportunities for players in the companion animal diagnostics market. On the other hand, a lack of animal health awareness and a shortage of veterinarians in emerging markets pose significant challenges in the market.
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Companion animal ownership has increased significantly due to loneliness during the pandemic period. Moreover, the pandemic has strengthened the bond between pet owner and pet, which has increased vet visits after lockdown. The increased pet ownership due to loneliness during the pandemic period, rise in vet visits, increased pet care during the pandemic, and increased cost of diagnostic consumables boosted the overall companion animal diagnostics market in 2020 and 2021.
Spending on pet healthcare, which includes the purchase of pet food, supplies/over-the-counter medications, veterinary care, pet insurance policies, and other services (such as companion animal diagnostic services), has increased significantly in recent years. A large number of pet owners, especially in major markets across North America and Europe, are purchasing pet insurance because of the significant growth in pet care expenditure in recent years.
The average range of diagnostic revenue per clinical visit in the US was around USD 85‒90 in 2020. This is mainly due to the availability of advanced monitoring, diagnostic, and therapeutic procedures in veterinary practices, which, though effective, come with high price tags. Advanced products and procedures play a significant role in treatments; however, the cost of materials and equipment used in these procedures is very high.
Animal health diagnostics comprises instruments and in vitro reagents that are used for the diagnosis of diseases or other conditions in animals.
The aim of animal health diagnostics is to detect the underlying pathogenesis responsible for disease associated with companion animals and livestock.Global Animal Health Diagnostics Market to grow at a CAGR of 9.53% during the period 2018-2022.Request sample copy of Animal Health Diagnostics Market report at: http://orbisresearch.com/contacts/request-sample/2163939 The report covers the present scenario and the growth prospects of the global animal health diagnostics market for 2018-2022.
To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography: AmericasAPACEMEAGlobal Animal Health Diagnostics Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts.
The report covers the market landscape and its growth prospects over the coming years.
The report also includes a discussion of the key vendors operating in this market.Read more details of the report at: http://orbisresearch.com/reports/index/global-animal-health-diagnostics-market-2018-2022 Key vendors AbaxisHeskaIDEXX LaboratoriesThermo Fisher ScientificZoetisMarket driver Increase in pet humanizationFor a full, detailed list, view our reportMarket challenge Rising cost of animal healthcareFor a full, detailed list, view our reportMarket trend Rise in internet of animalsFor a full, detailed list, view our reportKey questions answered in this report What will the market size be in 2022 and what will the growth rate be?What are the key market trends?What is driving this market?What are the challenges to market growth?Who are the key vendors in this market space?You can request one free hour of our analyst’s time when you purchase this market report.
Details are provided within the report.Companies Mentioned:Abaxis, Heska, IDEXX Laboratories, Thermo Fisher Scientific, and Zoetis.Enquire more details of the report at: http://orbisresearch.com/contact/purchase/2163939 About Us:Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements.
Factors such as the rising companion animal population, increasing demand for pet insurance, and the growth in the number of veterinary practitioners in developed countries are driving the growth of this market.
Also, the growing demand for rapid tests and portable instruments for point-of-care services and the use of advanced technologies like machine learning is expected to offer potential growth opportunities for market players in the coming years.
However, increasing pet care costs are expected to restrain market growth to a certain extent.The report Companion Animal Diagnostics Market is projected to reach USD 3.0 billion by 2025 from an estimated USD 1.8 billion in 2020, at a CAGR of 9.8%.Ask for PDF Brochure: - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=173823870 Immunodiagnostics segment to account for the largest share of the companion animal diagnostics market in 2019Based on technology, the companion animal diagnostics market is segmented into immunodiagnostics, clinical biochemistry, hematology, urinalysis, molecular diagnostics, and other companion animal diagnostic technologies.
These methods have been used clinically for decades in the veterinary industry, and are the only reliable option to test animals for several infectious diseases such as equine infectious anemia virus and feline immunodeficiency virus.
Immunodiagnostic tests can identify the presence of antibodies to viruses that are inactive and no longer present in the body.
These advantages are further used to widen the clinical applications of immunodiagnostic tests in the veterinary health market.Clinical pathology segment to dominate the companion animal diagnostics market, by applicationBased on application, the companion animal diagnostics market is segmented into clinical pathology, bacteriology, virology, parasitology, and other applications.
