Meticulous Research®—a leading global market research company, published a research report titled, ‘Veterinary Immunodiagnostics Market by Product (Analyzers, Consumables {Leukemia, Influenza, BTV, FMD, BTB, BHV}), Animal (Livestock, Companion), Technology (ELISA, Radioimmunoassay, Rapid Tests), End User (Hospitals, Point of care)—Global Forecast to 2029.’
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In its latest report, Meticulous Research® predicts that the veterinary immunodiagnostics market will experience substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 9.3% from 2022, reaching an estimated $2.71 billion by 2029. Key drivers of this growth include the rising prevalence of animal diseases, the availability of specialized immunodiagnostic tests, and advancements in immunodiagnostic technologies. Additionally, the growing pet population and increasing demand for animal-derived products are fueling market expansion. While emerging markets present significant opportunities, challenges such as inadequate diagnostic infrastructure in developing regions persist.
The market is segmented by Product (Analyzers and Consumables), Animal Type (Companion Animals and Livestock), Technology (ELISA, Radioimmunoassay, Rapid Tests, and Others), End User (Reference Laboratories, Veterinary Hospitals & Clinics, and Point of Care Testing), and Geography, providing a detailed analysis of market dynamics. In 2022, the consumables segment is expected to dominate due to their high sensitivity, rapid diagnosis, and cost-effectiveness. ELISA technology is projected to hold the largest share of the market, driven by advancements in biomarkers and increasing adoption of automated systems.
The livestock segment is anticipated to lead in 2022, driven by growing demand for food production and increased awareness of animal health. Meanwhile, the reference laboratories segment is expected to account for the largest share, due to the outsourcing of diagnostic testing. North America is forecasted to remain the market leader, followed by Europe and Asia-Pacific, thanks to a strong veterinary diagnostics infrastructure and growing investments in animal health.
Key market players include IDEXX Laboratories, Inc., Zoetis Inc., Thermo Fisher Scientific Inc., Virbac, Heska Corporation, Randox Laboratories Ltd., Neogen Corporation, QIAGEN N.V., Abaxis, Inc., and bioMérieux S.A.
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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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