Veterinary Point-of-Care Diagnostics Market Size, Share and Global Trend By Types (kit, Instruments), Application (Hormone Level Testing, Infectious Disease Testing), End Users (Veterinary Hospitals, Home Care Settings, Veterinary Clinics) and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
In November 2018, Eurolyser Diagnostica GmbH announced the introduction of a veterinary parameter in the company’s K+ Potassium testing. Veterinary point-of-care diagnostics are medical diagnostic devices that provide clinically significant information at the clinical practice, without relying on the results from a clinical laboratory. The rapid and cost-effective method of diagnosis provided by the point-of-care devices is estimated to increase the adoption of these devices in the forecast period. The advancements in lateral flow technology like microfluidics have aided in the transformation of veterinary point-of-care diagnostics.
The growth of veterinary point-of-care diagnostics is estimated to be driven by the increasing adoption of rapid diagnostic tools by veterinary doctors. Additionally, the increasing awareness regarding the health of pets and livestock are projected to fuel the market of veterinary point-of-care diagnostics. Certain advantages of veterinary point-of-care diagnostics like cost-effectiveness, the flexibility of quantitative and qualitative technology, simplicity of use, rapidity among others are anticipated to drive the growth of the global veterinary point-of-care diagnostics market. Relaxed regulatory protocols are also among the factors that expected to propel the growth of the global veterinary point-of-care diagnostics market.
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Certain factors like low sensitivity of the results that lead to false positive or falsely negative results are projected to restrain the uptake of point-of-care diagnostic devices among healthcare providers. The risk of undertreatment of animals combined with the lack of skilled professionals to interpret the clinical data obtained are factors restraining the growth of the global veterinary point-of-care devices.
Key Players Covered:
Key players operating in the veterinary point-of-care diagnostics market are Eurolyser Diagnostica GmbH, Heska Corporation, IDEXX Laboratories, Inc., Thermo Fisher Scientific Inc., Zoetis Inc., and others.
SEGMENTATION
SEGMENTATION | DETAILS |
By Type | · Kits · Instruments |
By Application | · Hormone Level Testing · Infectious Disease Testing · Others |
By End User | · Veterinary Hospitals · Home Care Settings · Veterinary Clinics · Others |
By Geography | · North America (USA and Canada) · Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe) · Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific) · Latin America (Brazil, Mexico and Rest of Latin America) · Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa) |
Among type, kits are estimated to register higher CAGR in the forecast period owing to the increasing adoption of at home testing devices.
Key Insights
- Key mergers and acquisitions
- Key performance indicators for global veterinary point-of-care diagnostics market
- Key product launches
Regional Analysis:
The global veterinary point-of-care diagnostics market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Among the regions, North America is projected to dominate the global veterinary point-of-care diagnostics market owing to the increasing acceptance of pet owners to pay for veterinary health care services. Additionally, increasing awareness regarding the impact of livestock health on human health and the food chain in the developed countries of North America and Europe is estimated to drive the global veterinary point-of-care diagnostics market in these regions. In the countries of Asia Pacific, the rising expenditure and affordability of owning pets are anticipated to provide lucrative growth opportunities for key market players.
Key Industry Developments
- In July 2018, Zoetis Inc. announced the completion of the company’s acquisition of Abaxis, a company that manufactures and develops diagnostic instruments for veterinary point-of-care.
- In September 2018, Eurolyser Diagnostica GmbH announced the launch of Equine Progesterone, a test for measurement of progesterone level in horses.
- In January 2019, IDEXX Laboratories, Inc. announced the introduction of Catalyst One and Catalyst Dx analysers, an in house testing method for the detection of progesterone levels in dogs.
- Ongoing
- 2023
- 2019-2022
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