New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Infectious Disease Diagnostics Global Market Report 2023" - https://www.reportlinker.com/p06316250/?utm_source=GNW
, Creative Diagnostics, Heska Corporation, Chembio Diagnostics, URIT Medical Electronic Co. Ltd., NTBIO Diagnostics Inc., Bio-X Diagnostics, and Agrolabo Spa.
The global veterinary infectious disease diagnostics market grew from $1.65 billion in 2022 to $1.85 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The veterinary infectious disease diagnostics market is expected to grow to $2.74 billion in 2027 at a CAGR of 10.4%.
The veterinary infectious disease diagnostics market includes revenues earned by entities by identifying and determining whether an animal has any viral, bacterial, parasitic, or other types of illnesses.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The veterinary infectious disease diagnostics refer to diagnostic services that are used for the identification of infectious diseases in animals.These are the sets of infectious diseases and the factors that impact the health of livestock, domestic animals, and wildlife.
Veterinary diagnostics has become essential to ensure the overall well-being of animals. These diagnose the infections caused in all types of animals.
North America was the largest region in the veterinary disease diagnostics market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the veterinary infectious disease diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of veterinary infectious disease diagnostics are viral infections, bacterial infections, parasitic infections, and other infections.Bacterial infections are transmitted from dogs to humans by a dog bite.
However, other infections caused by protozoa have a fecal-oral transmission.The different animals include companion animals, food-producing animals, and involve various technologies such as immunodiagnostics, molecular diagnostics, and other technologies.
These are used in reference laboratories, veterinary hospitals and clinics, point of care, research institutes and universities, and other end users.
The increasing incidence of transboundary and zoonotic diseases such as rabies is expected to propel the growth of the veterinary infectious disease diagnostics market going forward.Zoonoses are diseases and infections that are transferred spontaneously between humans and vertebrate animals.
Veterinary infectious disease diagnostics are used to detect rabies in pets and animals.These devices are used to prevent animals from causing death.
For instance, in 2021, according to the World Health Organization (WHO), a Swiss-based government agency, rabies disease was found in over 150 nations and territories.Dogs are the most common source of human rabies deaths, accounting for up to 99% of all rabies transmissions.
Children under the age of 15 make up 40% of those bitten by suspected rabid animals. Infection kills tens of thousands of people every year, mostly in Asia and Africa. Therefore, the increasing incidence of transboundary and zoonotic diseases is driving the growth of the veterinary infectious disease diagnostics market.
Technological advancements have emerged as the key trend gaining popularity in the veterinary infectious disease diagnostics market.Major companies operating in the veterinary infectious disease diagnostics market are introducing new technological innovations to sustain their position in the market.
For instance, in 2020, LexaGene, a US-based company operating in veterinary infectious disease diagnostics, released MiQLab, a gold standard diagnostic equipment that uses a unique RT-qPCR-based technology to evaluate each sample’s contents for up to 27 distinct pathogens in under an hour.MiQLab is unique in that it is open-source, allowing users to customize existing tests and build new ones with ease.
If a new test is necessary due to a mutation, the open-access functionality allows new tests to be developed quickly on LexaGene’s MiQLab system.
In January 2020, Heska Corp., a US-based company that manufactures point-of-care diagnostics equipment and imaging devices, acquired Scil Animal Care Co. for a deal amount of $110 million. With this acquisition, Heska Corp.’s overseas market share increased to 40% in Germany and 30% in Spain and France, which also expanded the company’s animal care offering. Social Animal Care is a France based company that manufactures veterinary diagnostic devices.
The countries covered in the veterinary infectious disease diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The veterinary infectious disease diagnostics market research report is one of a series of new reports that provides veterinary infectious disease diagnostics market statistics, including veterinary infectious disease diagnostics industry global market size, regional shares, competitors with a veterinary infectious disease diagnostics market share, detailed veterinary infectious disease diagnostics market segments, market trends and opportunities, and any further data you may need to thrive in the veterinary infectious disease diagnostics industry. This veterinary infectious disease diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06316250/?utm_source=GNW
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