The global veterinary diagnostic market is expected to grow with a CAGR of 10% from 2023 to 2028

According to a market report by Lucintel, the future of the global veterinary diagnostic market looks promising with opportunities in the reference laboratory, veterinary hospital and clinic, point-of-care/in-house testing, and research institute and university markets. The global veterinary diagnostic market is expected to reach an estimated $6.1 billion by 2028 with a CAGR of 10% from 2023 to 2028. The major drivers for this market are surge in the demand for food products derived from animals, sharp rise in the occurrence of cross-border and zoonotic illnesses within animal populations, and increase in the count of veterinary professionals in advanced economies.

In this market, haematology, clinical biochemistry, immunodiagnostics, and molecular diagnostics are the major segments of global veterinary diagnostic market by technology. Lucintel forecasts that immunodiagnostics is expected to remain largest segment over the forecast period due to its ability to diagnosis animal disease, as well as helps in tracking blood drug levels, diagnosis of endocrine, neoplastic, and infectious diseases.

Within this market, veterinary reference laboratory will remain the largest segment due to increased availability of advanced technology and facilities within veterinary laboratories, accompanied by a surge in the introduction of novel laboratory products, and a rising population of skilled experts in this domain.

North America will remain the largest region over the forecast period due to the existence of healthcare initiatives within the area, growing populace of companion and livestock animals, presence of technologically sophisticated veterinary reference laboratories, and expansion in coverage of pet insurance.

Antech Diagnostics, bioMérieux SA, IDEXX Laboratories, Virbac, Zoetis, Heska Corporation, Thermo Fisher Scientific, Neogen Corporation, QIAGEN, and Idvet are the major suppliers in the global veterinary diagnostic market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com.

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056

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