Animal Health Diagnostics Market is to grow by USD 1.96 billion from 2022 to 2027- Technavio

NEW YORK, Nov. 8, 2023 /PRNewswire/ -- The animal health diagnostics market is expected to grow by USD 1.96 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 9.63% during the forecast period, according to Technavio Research. The market has been segmented by type (livestock and companion), end-user (veterinary hospitals, veterinary clinics, and diagnostic centers), and geography (North America, Europe, Asia, and Rest of the World (ROW)). North America is projected to contribute 58% by 2027. The growing humanization of dogs and cats is a major factor driving the Americas market. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read PDF Sample Report

Company Profile:

Bio Rad Laboratories Inc., Bio X Diagnostics SA, BioNote Inc., Eurofins Scientific SE, Eurolyser Diagnostics GmbH, FUJIFILM Corp., Heska Corp., Id Vet India Pvt. Ltd., IDEXX Laboratories Inc., INDICAL Bioscience GmbH, Neogen Corp., Randox Laboratories Ltd., Shenzhen Mindray BioMedical Electronics, SWISSAVANS AG, Teco Diagnostics, URIT Medical Electronic Co. Ltd., VCA Inc., Virbac Group, Zoetis Inc., and Thermo Fisher Scientific Inc.

Bio Rad Laboratories Inc. - The company offers animal health diagnostics such as Antimicrobial Susceptibility Testing and rabies Diagnosis Testing.

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The animal health diagnostics market share growth by the livestock segment will be significant during the forecast period.  As it provides a source of income, food supply, asset preservation, employment opportunities, and livelihoods, cattle play an essential role in economics and social aspects, particularly for rural households. 

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report

"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Animal Health Diagnostics Market: Market Dynamic

Key Driver

• Increase in pet humanization
• Rising awareness about zoonotic diseases
• Increasing dependency on livestock products

The increase in pet humanization is a key factor driving market growth. Humanizing is when you treat your pet as a family member. The number of pets being kept for functional purposes is decreasing with the Millennial generation.

Major Trend

The growing preference for health monitors is a major trend in the global animal health diagnostics market. 

Identify key trends, drivers, and challenges in the market. Download a sample report to gain access to this information.

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The companion diagnostics market is estimated to grow at a CAGR of 22.59% between 2022 and 2027. The market size is forecast to increase by USD 11,029.63 million.

The cancer diagnostics market is estimated to grow at a CAGR of 11.3% between 2022 and 2027. The market size is forecast to increase by USD 12,626.21 million.

What are the key data covered in this animal health diagnostics market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the animal health diagnostics market between 2022 and 2027.
• Precise estimation of the animal health diagnostics market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the animal health diagnostics market in North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of animal health diagnostics market companies.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio