Recent Developments:
# In 2019, IDEXX Laboratories launched a Canine Progesterone Test for Catalyst Dx and Catalyst One Chemistry Analyzers.
# In 2019, Zoetis, Inc. launched Stablelab, a handheld point-of-care diagnostic blood test for equine.
# In 2019, FUJIFILM SonoSite partnered with Partners Healthcare (US) to enable clinicians to perform scans at point of care.
# In 2019, Eurolyser partnered with Sysmex Corporation (Japan) to sell Eurolyser’s point of care systems measuring CRP.
Expected Revenue Growth:
The global veterinary point-of-care diagnostics market size is projected to reach USD 2.4 billion by 2025 from USD 1.4 billion in 2019, at a CAGR of 8.9%.
Major Growth Boosting Factors:
Factors such as increasing prevalence of zoonotic diseases among companion and livestock animals and the growing need for the rapid detection of these diseases, along with the advantages of POCT over laboratory analysis are driving the growth of this market during the forecast period. However, the high cost of veterinary imaging instruments is restraining the growth of this market to some extent.
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Key Questions Addressed in the Report:
# Who are the top 10 players operating in the global veterinary point-of-care diagnostics market?
# What covers the drivers, restraints, opportunities, and challenges in the veterinary point-of-care diagnostics industry?
# What are the new technological advancements in the veterinary point-of-care diagnostics market?
# Comment on the regulatory scenario for the veterinary point-of-care diagnostics industry in various geographies.
# What are the growth trends in the veterinary point-of-care diagnostics market at the segmental and overall market levels?
By animal type, the companion animals segment accounted for the largest share of the veterinary point-of-care diagnostics market in 2018
Based on animal type, the market is segmented into companion and livestock animals. In 2018, the companion animals segment accounted for the largest share of the veterinary point-of-care diagnostics market. The increasing companion animal ownership, growing awareness about animal health among pet owners, and rising pet healthcare expenditure are some the factors stimulating the growth of this segment.
End Users:
By end user, the veterinary clinics segment accounted for the largest share of the veterinary point-of-care diagnostics market in 2018
Based on end user, the market is segmented into veterinary hospitals & academic institutes, veterinary clinics, and home care settings. In 2018, the veterinary clinics segment accounted for the largest share of the market. The large share of this segment is attributed to the growing number of patients visiting vet clinics and the increasing number of private clinical practices.
Geographical Growth Scenario:
North America will continue to dominate the market during the forecast period
The market, by region, is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of the veterinary point-of-care diagnostics market in 2018. The large share of North America in the global market can be attributed to the increasing adoption of companion animals, growing veterinary healthcare expenditure, and rising demand for animal-derived food products.
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Global Key Players:
Prominent players in the veterinary point-of-care diagnostics market include 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).
