Global Veterinary Infectious Disease Diagnostics Market to Boost in Coming Years – Projected to Reach worth USD 2636.8 Million in 2028
Published | 25 March 2022
Rising technological advancement in diagnostic devices, automation, rising companion animal population, coupled with the increasing trend of pet insurance, is the key factor anticipated to propel the demand of the veterinary infectious disease diagnostics market in the forecast period…
A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the Global Veterinary Infectious Disease Diagnostics Market was worth USD 1,552.8 million in 2021 and is projected to reach up to USD 2636.8 million by the year 2028, growing at a CAGR of 8.7 % over the analysis period of 2022-2028. Rising technical advancement in diagnostic instruments, automation, rising companion animal population, and the increasing trend of pet insurance are expected to drive demand for the veterinary infectious disease diagnostics market during the forecast period. Furthermore, rising investment in animal healthcare, rising zoonotic disease incidence, and rising disposable income in emerging nations would drive the worldwide veterinary infectious disease diagnostics market.
Increase in Incidence of Rabies Across Some Nations is driving the Global Veterinary Infectious Disease Diagnostics Market
There is a growing incidence of people getting infected with rabies worldwide. The disease, which has been found to have a 100% mortality rate, is rising. Dogs and bats happen to be the main source of human-led rabies deaths and contribute to more than 99% of all transmissions that were carried forward to humans.
According to the National Travel Health Network and Centre, By 2019, Over four imported rabies cases got reported across European travelers. In May 2019, Norway announced its confirmation for one rabies-related mortality, followed by an infection in the Philippines. In December 2019, over three fatalities associated with rabies were confirmed. Since rabies has been found to have an incubation period of 2-3 months, it spreads slowly but reduces the chances for that particular infected human to survive. As a result, these cases have spurred a growing demand for diagnosis and disease prevention across some nations, positively impacting the growth of the infectious disease diagnostics market.
Sample Report: https://www.blueweaveconsulting.com/report/veterinary-infectious-disease-diagnostics-market/report-sample
Higher costs across some middle- and low-income nations are hindering the growth of the Global Veterinary Infectious Disease Diagnostics Market
Although the number of pet ownership has been on the rise, there is an equal if not a better upward trend in the costs associated with the veterinary treatment of domesticated animals. Some of the primary services offered by vets include clinical services (treatment-related to diseased animals and controlling production), preventive services (averting any disease outbreak), provision of drugs, vaccines, and other pharmaceuticals, and human health protection (comprising inspection of animal products). Such high costs with some amounting close to the annual per capita of some middle and low-income countries demonstrate the higher costs of veterinary service prices around the world, which have kept the diagnostic test and routine checkup of animals out of the picture for a long time, negatively contributing to the demand of veterinary infectious disease diagnostics, thereby hindering the growth of the market.
Impact Of COVID-19 On The Global Veterinary Infectious Disease Diagnostics Market
The advent of newer biotechnological techniques, including gene cloning, immunohistochemistry procedures, and immunogen overexpression assays, has demonstrated that it is becoming increasingly possible to generate specific spike proteins, which could revolutionize the present generation of immunoassays. The techniques could augment the sensitivity and specificity capabilities of assays by offering an improved antibody binding target and reducing volatility found across intra-kit incorporation. For instance, In April 2020, IDEXX Laboratories, Inc. announced that the company is making its IDEXX SARS-CoV-2 RealPCR™ Test available for pets. IDEXX stated that they were launching the test regarding the growing customer demand and evidence found across pets living with COVID-19 positive owners. The test was only made available for veterinarians across the North American region; however, it was made available to the rest of the world in the next few months.
Europe is Growing at a Significant Rate in The Global Veterinary Infectious Disease Diagnostics Market.
In terms of regional analysis global veterinary infectious disease diagnostics market is classified into North America, Europe, The Asia Pacific, Latin America, The Middle East, and Africa. The growing number of Zoonoses in the region, rising awareness towards regular checkups of poultry and pets, and growing penetration of animal insurances has supported the growth of the veterinary infectious disease diagnostics market in the European region. Additionally, the support from the government to control the frequent outbreaks of veterinary infectious disease in the region has further supported the growth of the market. The advancements in the ELISE tests and PCR tests is expected to present growth opportunities during the forecast period.
Competitive Landscape
The Global Veterinary Infectious Disease Diagnostics Market is characterized by the presence of many local, regional, and global vendors. The market for veterinary infectious disease diagnostics is partially consolidated, with fierce competition among the leading players. The leading market players of the global veterinary infectious disease diagnostics market are Biomerieux S.A., Heska Corporation, IDEXX Laboratories, Inc., IDVet, Neogen Corporation, Boehringer Ingelheim Vetmedica, Inc., Dechra Pharmaceuticals PLC, Ceva Santé Animale, Bayer AG, Vetoquinol S.A, HESKA Corporation, Demeditec Diagnostics GmbH, and other prominent players.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Veterinary Infectious Disease Diagnostics Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Veterinary Infectious Disease Diagnostics Market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the market's growth drivers, challenges, and competitive dynamics.
About Us
Blue Weave Consulting provides all-inclusive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. We offer comprehensive market research reports by analyzing qualitative and quantitative data to boost your business solution's performance. BWC has built its reputation from the scratches by delivering quality inputs and nourishing long-lasting relationships with its clients. We are a promising digital MI solutions company providing agile assistance to make your business endeavors successful.
Contact Us:
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662