Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The veterinary point-of-care (POC) diagnostic market is witnessing significant growth, driven by the rising global trend of increased pet ownership. As more people bring pets into their homes, the demand for rapid and convenient diagnostic solutions at veterinary clinics and pet care facilities is on the rise.
Technological development is molding market trends in veterinary PODs. The advent of portable and easily accessed diagnostic devices has streamlined quicker and efficient tests for different conditions in animals. These new developments contribute to better veterinary treatment and mobility in case of the sane people and vets.
Increasing attention is paid to point of care testing of infectious diseases in the veterinary POC diagnostic market. Prompt and accurate diagnoses of diseases such as parvovirus, feline leukemia, and canine heartworm expedite timely medication initiation and prevent the transmission of infections between animals leading to improved health.
The growing awareness of zoonotic diseases that can be transferred from animals to humans is impacting market dynamics. Veterinary point-of-care diagnostics significantly contribute to the prevention and control of zoonotic diseases and the health of both animals and humans caring for them.
The veterinary POC diagnostic market has gained popularity globally, although, the growth in developing nations is expected to be prominent particularly because ofincreased interest by laboratories and producers. The rapidly growing role of veterinary medicine alongside an increase in disposable income were pushing the adoption of POC diagnostic tools in these areas which resulted in market expansion.
An interesting trend in the field of veterinary POC diagnostics is AI and data analytics integration. The decision accuracy of the diagnosis is increased thanks to advanced algorithms in this way helping veterinarians create effective treatment plans according to individual animals.
Among the preventive care that has gained popularity in the veterinary section, POC diagnostics are pivotal in the shift. Detection of conditions during routine testing enables early intervention before the condition progresses thereby contributing to the health and welfare of animals.
The veterinary POC diagnostic market is adjusting to remote monitoring and telemedicine adoption for animals. Diagnostic instrumentation from POC for cancer detection including devices that support transmission of remote data enable veterinarians to monitor the health of animals remotely providing timely insights and reducing the need for regular visits.
Animal diagnoses are becoming increasingly species specific. The veterinary POC diagnostic market is undergoing the development of focused tests and equipment for different type animals, fulfill species ranging from pet animals to livestock unique healthcare.
Environmental testing for animal health is gaining prominence in the veterinary POC diagnostic market. Diagnostic tools are being employed to assess environmental factors that can impact animal health, such as water and soil quality. This trend reflects a holistic approach to veterinary care, considering both direct and indirect factors affecting animals.
Veterinary POC Diagnostic Market Highlights:
Veterinary POC Diagnostic Market Overview
Veterinary POC Diagnostic Market Size was valued at USD 3.20 Billion in 2023. The Veterinary POC Diagnostic industry is projected to grow from USD 3.47 Billion in 2024 to USD 6.87 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.90% during the forecast period (2024 - 2032). Various healthcare systems such as the Point of Care Systems have helped to improve veterinary diagnosis across the world.
Several advancements to enhance animal care with technology and medical care will be impactful. The growing adoption of pets and demand for effective solutions to maintain their health will drive the market. Therefore, the market is depicted to observe a significant growth as the veterinary POC helps in detecting any pandemic diseases occurring in animals.
COVID-19 Analysis
In the initial phase of COVID-19 disease, there were no tests for detecting this disease among patients. However, various alternative tests were conducted but they were not effective enough. But the increase in COVID-19 disease led to an increase in various opportunities to develop the diagnostic kits. As a result, various kits were developed on the global as well as the local market. This factor pimp the presence of various new start-ups and provided new opportunities for Veterinary POC Diagnostic Market Growth.
In December 2022, EKF Diagnostics, a worldwide business that specializes in in vitro diagnostics, introduces a new iteration of its Lactate Scout analyzer, specifically tailored for veterinary applications. The Lactate Scout Vet utilizes the same established technology that was originally created to offer accurate and user-friendly handheld lactate testing for professional sports coaches and athletes.
Veterinary POC Diagnostic Market Trends
Market Drivers
The increasing number of pet adoption from across the world is one of the crucial drivers of the Veterinary POC Diagnostic Market. Along with that, the rising number of veterinary doctors and increasing income among people of developed counties will be favorable for the market. Also, the increasing zoonotic disease of animals and transmission o humans are increasing the demand for better diagnosis.
Restraints
Mainly the high costs of the imagery instruments of the veterinary section can be restraint the market growth.
Opportunities
However, the increasing expenditure for animal health and pet insurance will further drive the market in the studied forecast period.
Challenges
The increasing costs required for pet care can be challenging for the Veterinary POC Diagnostic Market.
Cumulative Analysis
Significant drivers such as increasing pet adoption and technological advancement in the veterinary sector are promoting market growth. It is anticipated that the Americas will hold the largest share in the market in the upcoming years.
Value Chain Analysis
The rising technological advancements, investments by key players are the significant factors for market growth. As a result, these factors will further improve the Veterinary POC Diagnostic Market Trends. Also, with the development and growing awareness across the world, the value chain will further improve in the upcoming years.
Veterinary POC Diagnostic Market Segment Insights
The Veterinary POC Diagnostic Market is segmented into product, instruments, technology, application, animal types, and end-user. Based on instruments, the market is segmented into Imaging systems. However, the imaging system is again segmented into Digital Equipment, Radiography Systems, Analysers, and Veterinary Picture Archiving and Communication Systems.
Veterinary POC Diagnostic Animal Type Insights
Veterinary POC Diagnostic Market is segmented into Companion Animals and Livestock Animal. The companion animal segment is divided into horses, cats, and dogs. Furthermore, livestock animals segments are bifurcated into Poultry, Swine, and Cattle. The poultry sub-segment is anticipated to grow at 9% CAGR in the upcoming years.
Veterinary POC Diagnostic Animal Product Insights
Veterinary POC Diagnostic Market is segmented into consumables. This segment held the largest Veterinary POC Diagnostic Market Share. However, it is further bifurcated into Imaging System Reagents, and Reagents and Kits.
Veterinary POC Diagnostic Animal Technology Insights
Veterinary POC Diagnostic Market is segmented into Molecular Diagnostics, Urinalysis, Haematology, Immunodiagnostics, and Clinical Biochemistry.
Veterinary POC Diagnostic Application Insights
Market is divided into Neurology, Oncology, Gynaecology, Cardiology, Virology, Parasitology, Traumatology and Orthopaedics, Bacteriology, Clinical Pathology, and Neurology.
Veterinary POC Diagnostic end-user Insights
The market is divided into Home Care Settings and Veterinary Clinics and Hospitals. According to the Veterinary POC Diagnostic Market Analysis, the veterinary clinics and hospitals held the largest share due to the increasing number of patients.
Regional Analysis
The Veterinary POC Diagnostic Market Size based on region is divided into Asia-Pacific, Africa, and the Middle East, Americas, and Europe. It is expected that the Americas will dominate the market in the upcoming years. In 2019, this region comprised revenue of 1.7 billion due to increasing pet adoption and health expenditure of animals.
Europe is anticipated to largest the second-largest Veterinary POC Diagnostic Market Share. This region is anticipated to grow at 7.9% in the studied forecast period. Therefore, the increasing emphasis on biological and vaccine developments will boost the market.
Furthermore, it is evaluated that the Asia-Pacific region will register the fastest growth. Drivers such as the increasing number of healthcare facilities in developing countries such as India and China will propel the market growth. Also, the investments by the key players for the development and research of new products will be positive for the market growth.
Africa and the Middle East region have experienced a significant rise in the past several years. The sudden increase in technological development in the healthcare sector is expected to fuel the Veterinary POC Diagnostic Market Growth in the future years.
Competitive Landscape
Various key players are enhancing the growth of the Veterinary POC Diagnostic Market. They do acquisitions, collaborations, mergers, partnerships to improve their business withhold across the world. The key players in the market are as follows.
- Zoetis, Inc. (US)
- Randox Laboratories Ltd. (UK)
- Heska Corporation (US)
- Anipoc Ltd. (UK)
- Fujifilm Sonosite Inc. (Japan)
- GE Healthcare (YS)
- Examion GmbH (Germany)
- Esoate spa (Italy)
- Neurologica Corporation
- Woodley Equipment Company Ltd. (UK)
- Carestream Health Inc (US)
- Mindray Medical International Limited (China)
- Minxray Inc. (US)
- Thermo Fisher Scientific Inc (US)
- Virbac (France)
- Sedecal (Spain)
- s.r.l. (Italy)
Recent Developments
- IDEXX Laboratories in 2019 announced the launch of the canine Progesterone Test for the Catalyst One Chemistry and Catalyst Dx Analysers.
- Fujifilm Sonosite in 2019 announced the partnership with a company called Partners Healthcare.
- Zoetis Inc. in 2019 announced the launch of a new product called Stablelab which is a POC blood test for the equine.
Report Overview
The report overview of Veterinary POC Diagnostic Market Forecast is as follows.
- Market Overview
- COVID-19 Analysis
- Dynamics of the Market
- Value Chain Analysis
- Market Segmentation
- Regional Analysis
- Competitive Analysis
- Recent Development
Report Score
The report score is to provide valuable information about Veterinary POC Diagnostic Market Outlook. It highlights information about drivers, key players, opportunities, developments, etc. Furthermore, the information provided in this report is collected from secondary as well as primary sources.
Veterinary POC Diagnostic Market Segmentation
Veterinary POC Diagnostic Product Outlook
- Consumables
- Imaging System Reagents
- Reagents and Kits
Veterinary POC Diagnostic Instruments Outlook
- Imaging System
- Digital Equipment
- Radiography Systems
- Analyzers
- Veterinary Picture Archiving and Communication System
Veterinary POC Diagnostic Technology Outlook
- Molecular Diagnostics
- Urinalysis
- Hematology
- Immunodiagnostics
- Clinical Biochemistry
Veterinary POC Diagnostic Application Outlook
- Neurology
- Oncology
- Gynecology
- Cardiology
- Virology
- Parasitology
- Traumatology and Orthopaedics
- Bacteriology
- Clinical Pathology
- Neurology
Veterinary POC Diagnostic Animal types Outlook
- Companion Animals
- Cat
- Dog
- Horses
- Livestock Animal
- Poultry
- Swine
- Cattle
Veterinary POC Diagnostic End-User Outlook
- Home Care Settings
- Veterinary clinics and Hospitals
Veterinary POC Diagnostic Regional Outlook
- Europe
- Americas
- Asia-Pacific
- Africa and the Middle East
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
