Veterinary Immunodiagnostics Market to grow at a Significant Rate During the Forecast Period
Growing number of veterinary practitioners is driving the growth of Global Veterinary Immunodiagnostics Market, in the forecast period, 2022-2026.
According to TechSci Research report, “Global Veterinary Immunodiagnostics Market By Product Type (Analyzers, Consumables) By Animal Type (Livestock (Cattle, Pigs, Poultry, Others), Companion (Feline, Equine, Canine, Others) By Technology (ELISA, Chemiluminescence Immunoassay, Fluorescent Immunoassay, Colorimetric Immunoassay), Radioimmunoassay, Rapid Tests, Others) By Application (Infectious Disease, Autoimmune Disorder, Endocrinology, Oncology, Bone and Mineral Diseases, Others) By End User (Reference Laboratories, Academic and Research Institutes, Veterinary Hospitals & Clinics, Point of care/In-house testing) By Distribution Channel (Hospitals, Retail Stores, Pharmacies & Drug Stores and E-Commerce) By Region, Competition Forecast & Opportunities, 2026”, the global veterinary immunodiagnostics market is anticipated for an impressive boost in the upcoming five year, 2022-2026. The market has shown a consistent growth with influential CAGR in past five years until 2019. The factors like demand for early diagnostics of zoonotic diseases that may later infect human population, and rising demand for animal-related food; are some of the major factors that are driving the growth of global veterinary immunodiagnostics market in the forecast period, 2022-2026. Moreover, pet owners for their own companion animals and government are aiding the animal health expenses, the factor coupled with growth in the companion and livestock animals is boosting the growth of global veterinary immunodiagnostics market, in the next five years.
Also, general population is now more concerned with health awareness of the pet population thereby enhancing the requirement of diagnostics procedures before adoption processes and thus supporting the market. Developing nations see increased adoption of the companion animals, and governmental policies to ensure better health care for animals and their adoptions are other factors that are driving the global veterinary immunodiagnostics market.
With the breakout of COVID-19 pandemic, the concerns for animal health and safety of animal related products increased. The pandemic affected the economies all around the world. While the world observed a complete lockdown, market was closed, and healthcare industry had severe concerns for finding the cure and prevention of the virus. The breakout was due to zoonotic disease that spread among the human population, thereby enhancing the importance of animal diagnostics. This supported the growth of global veterinary immunodiagnostics market may folds.
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The global veterinary immunodiagnostics market is segmented by product type, animal type, technology, application, end user, distribution channel, regional distribution, and competitional landscape. Based on technology, the market is further fragmented into ELISA, chemiluminescence immunoassay, fluorescent immunoassay, colorimetric immunoassay, radioimmunoassay, rapid tests, and others. Enzyme Linked Immunosorbent Assay (ELISA) is a plate based, technique that detects and quantifies disease causing proteins and peptides, to identify the presence of a prospected disease. Chemiluminescence immunoassay, fluorescent immunoassay, colorimetric immunoassay are variant versions of ELISA that is used for the diagnostics for veterinary diseases. Radioimmunoassay is the process to identify the diseased proteins through radiolabeled molecules in a stepwise formation of the degrading immune system in livestock and companion animal population. These methods are actively incorporated for the veterinary immunodiagnostics purposes, although the [procedures are complex and expenses, but they are actively used and thus supporting the growth of the global veterinary immunodiagnostics market in the upcoming five years.
Some of the major competitors in the market are Abaxis Inc., BioMerieux SA, Idexx Laboratories Corporation, Heska Corporation, Virbac SA, Zoetis Inc., Woodley Veterinary Diagnostics Ltd., Randox Laboratories Ltd., Neogen Corporation, Thermo Fisher Scientific Inc., among others. The companies are focusing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
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“The market has a promising future in the Asia-Pacific region, owing to the facts like rising pet-ownership, increased preference of animal related food products, and need to provide better healthcare services for the livestock and companion animal populations. North America region has higher pet population and better health services for them thus dominating the market in the forecast period. Governmental aids and new investments would support the market further,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Veterinary Immunodiagnostics Market By Product Type (Analyzers, Consumables) By Animal Type (Livestock (Cattle, Pigs, Poultry, Others), Companion (Feline, Equine, Canine, Others) By Technology (ELISA, Chemiluminescence Immunoassay, Fluorescent Immunoassay, Colorimetric Immunoassay), Radioimmunoassay, Rapid Tests, Others) By Application (Infectious Disease, Autoimmune Disorder, Endocrinology, Oncology, Bone and Mineral Diseases, Others) By End User (Reference Laboratories, Academic and Research Institutes, Veterinary Hospitals & Clinics, Point of care/In-house testing) By Distribution Channel (Hospitals, Retail Stores, Pharmacies & Drug Stores and E-Commerce) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of Global Veterinary Immunodiagnostics and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Veterinary Immunodiagnostics.
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