Global Veterinary PoC Diagnostics Market

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Global Veterinary PoC Diagnostics Market

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Global Veterinary PoC Diagnostics Market

 Category : Medical Devices

 Published: Aug-2021
 Author: SPER Analyst
Veterinary PoC Diagnostics Market is projected to be worth around USD 2,475.90 Million by 2027

The global veterinary point of care diagnostics market is expected to grow at a CAGR of 7.4% from 2020 to reach USD 2.47 billion by 2027. The growth is primarily attributed to increasing zoonotic diseases in companion and livestock animals, increasing adoption of POC devices in labs and hospitals & clinics, growing adoption of pet animals along with increasing population of livestock animals. Emerging market is offering significant growth opportunities for the key players operating in this market. However, low animal health awareness and shortage of veterinarians in developing countries pose significant challenges. 

The global veterinary point of care diagnostics market study provides market data for-by product (consumables and instruments), by technology (Immunodiagnostics, clinical biochemistry, molecular diagnostics, hematology, urinalysis and other technologies), by application (clinical pathology, bacteriology, virology, parasitology and other applications), by animal type (companion animals and livestock animals), by end user (veterinary clinics, veterinary hospitals and academic institutes and home care settings). The study also evaluates industry competitors and analyses the market at a regional and country level.

Consumables segment dominated the veterinary point of diagnostics market in 2020 and will show similar trend in the forecast period. Consumables will account highest CAGR due to the increasing demand of kits and reagents for recurring use, growing number of companion animals and increasing awareness about animal health. 

Browse report overview on "Veterinary PoC Diagnostics Market" at: https://www.sperresearch.com/report-store/Veterinary-PoC-Diagnostics.aspx

By technology, Clinical biochemistry segment accounted for the largest share of veterinary POC diagnostics market in 2020. The large share is mainly attributed to higher preference towards this technology by veterinarians and pet owners. However, molecular diagnostic segment is expected to register highest growth during the forecast period. This is mainly due to growing adoption of PCR based kits and increasing focus of key players towards development kits and devices based on molecular diagnostic technology.  

In 2020, Clinical pathology accounted for largest market share of veterinary POC diagnostics, by application in 2020 and expected to grow further in the forecast period. The growth is mainly related to adoption of various types of chemistry analysers in the clinical diagnosis of diseases in primary stage in companion animals 

On the basis of end users, veterinary clinics hold largest share in veterinary point of care diagnostics market in 2020. This is primarily due to increasing number of veterinary visit and growing number of veterinary clinics. 

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This research report analyses major geographies and provides a comprehensive analysis of North America (US, Canada), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, and RoAPAC), Rest of the world (Latin America, and Middle East & Africa). North America accounted for the largest share of the global veterinary PoC diagnosis market. The large growth of this market is attributed to the increased adoption of companion animals and high expenditure on veterinary healthcare. On the other hand, APAC is expected to grow at a highest CAGR.  

The major players operating in the global Veterinary PoC market are 
  • 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)

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