Veterinary Infectious Disease Diagnostics Market : Factors Driving Rapid Growth Towards $2.40 Billion by 2026

The global “Veterinary Infectious Disease Diagnostics Market” was valued at $1,271 million in 2018 and is expected to reach $2,404 million by 2026, registering a CAGR of 8.3% from 2019 to 2026.

The veterinary infectious disease diagnostics market refers to the industry involved in the development, production, and distribution of diagnostic tests and technologies specifically designed for detecting and diagnosing infectious diseases in animals. These diagnostics play a crucial role in identifying and managing infectious diseases in veterinary medicine.

The market for veterinary infectious disease diagnostics has been growing steadily due to several factors. One of the main drivers is the increasing incidence of infectious diseases in animals, including livestock, companion animals, and wildlife. The spread of infectious diseases poses a significant threat to animal health, welfare, and productivity, thereby driving the demand for accurate and timely diagnostic tools.

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Increase in ownership of companion animals and increase in spending on animal health are the major factors driving the growth of the global veterinary infectious disease diagnostics market. For example, diagnosing animal diseases requires a large amount of funds. The number of customers willing to spend more and willing for such services has increased. On the contrary, rising awareness related to animal healthcare across the globe is expected to provide lucrative opportunities for market expansion over the forecast period.

Europe is expected to grow at the highest rate during the forecast period due to increasing awareness among owners about animal health. Additionally, presence of majority of major players in Europe is driving the market growth in this region.

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The immunodiagnostics segment accounted for the largest share of the veterinary infectious diseases market in 2018. Moreover, the segment is expected to grow at the fastest rate during the forecast period due to factors such as increase in infectious diseases in animals. Moreover, other factors contributing to the growth of the market include increase in animal healthcare costs.

Veterinary Infectious Disease Diagnostics Market Key Players:

The global Veterinary Infectious Disease Diagnostics market is highly competitive and major market players have adopted various strategies to capture maximum Veterinary Infectious Disease Diagnostics market share. These include collaborations, product launches, partnerships and acquisitions. Key players operating in the market include Biomarix SA, HESKA Corporation, IDEXX Laboratories, Inc., ID.Vet, Neogen Corporation, Qiagen N.V., Randox Laboratories Ltd, Thermo Fisher Scientific Inc, Virbac and Zoetis.

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