The global Veterinary Point of Care Market was valued at more than US$ 1.5 billion in 2021, and it is expected to develop at a healthy CAGR of 8.8% to 11.2% between 2022 and 2032, achieving a valuation of US$ 2.7 billion by 2032. The increased prevalence of animal diseases, as well as the increasing demand for early disease identification and treatment, are driving growth.
In a world where even a single strand of virus or bacterium can have a terrible influence on human life, owners must take care of their companion animals’ health. As a result, pet owners are paying a lot of money to keep their companion animals healthy.
Various changes in veterinary healthcare diagnostic methods have occurred throughout the world since ancient times. The adoption of veterinary point-of-care testing was one such change.
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Advent of Telehealth and Virtual Care to Create Tailwind for the Veterinary Point of Care Market Growth
Digitization is making deeper inroads across diverse industries, such as healthcare, owing to the increasing penetration of the internet and smartphones across the world.
During the COVID-19 outbreak, healthcare practitioners and patients realized the importance of digitization and encouraged them to adopt virtual methods of patient examination and consultation to counter the regulations concerning social distancing. This gave rise to a new medical domain, Telehealth.
Since the outbreak, telehealth has gained immense popularity, especially among the geriatric population, owing to the convenience associated with it. Hence, increasing adoption of telehealth across radiology, behavioral health, cardiology, and online consultation is expected to create lucrative opportunities for growth in the Veterinary Point of Care market.
Key Veterinary Point of Care Market Takeaways and Projections
- The US is estimated to continue dominating the North America market, projecting fastest growth in the region through 2032.
- Germany Veterinary Point of Care market is forecast to register robust growth in Europe, accounting for a significant share in the region between 2022 to 2032.
- China is expected to account for the maximum revenue share in the East Asia market, exhibiting the fastest sales growth during the assessment period.
- India is forecast to emerge as a highly remunerative market in South Asia, contributing for the largest sales in the region over the coming 10-years.
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Report Benefits & Key Questions Answered
- Veterinary Point of Care Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities, and challenges in the Veterinary Point of Care market. It also studies the impact of these dynamics on the market for the previous assessment period 2017 to 2021 to forecast the scope of market growth over the coming forecast period 2022 to 2032.
- Veterinary Point of Care Demand-Supply Assessment: The latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Veterinary Point of Care market. As per the survey, Veterinary Point of Care sales will project steady growth over the forecast period.
- Veterinary Point of Care Market Structure Analysis: The report provides detailed information about market the concentration of key players and tier analysis in the Veterinary Point of Care market. It also categories market players as per Tier 1, Tier 2, and Tier 3 in terms of their percentage share and product portfolio.
- Veterinary Point of Care Market Trend Analysis: FMI’s market trend analysis provide compelling insights into current and upcoming trends in the healthcare industries. It also assists the industry players to identify potential trends to formulate a strategy to take advantage of these existing trends.
Competitive Landscape Analysis
The latest study conducted by FMI provides in-depth insights into the global Veterinary Point of Care market to assist management level decision-makers in constructing a strategy to capitalize on the critical trends & opportunities. It also discloses competitive trends and profiles a list of leading players operating in the global Veterinary Point of Care market.
Some of the prominent market players are profiled by FMI are:
Diagon, IDEXX Laboratories, LifeAssays AB, Abaxis, Biogal, Galed Labs. Acs Ltd, and Bionote, Inc, others
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Key Segments Profiled in the Veterinary Point of Care Industry Survey
By Product Type:
- Diagnostic Kits
- Analyzers
- Others
By Application:
- Infectious Diseases
- Hematology
- Others
By Sample Type:
- Blood
- Urine
- Others
By Animal Type:
- Dogs
- Bovine
- Swine
- Cats
- Equine
- Others
By End Users:
- Veterinary Hospitals
- Academic and Research Institutes
- Veterinary Clinics
Region
- North America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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