Future Growth Prospects in the Global Veterinary PoC Diagnostics Industry
Overview of This Study:
The study involved four major activities in estimating the size of the global Veterinary PoC Diagnostics Industry. Exhaustive secondary research was done to collect information on the adoption of different technologies and their regional adoption trends.
Industry experts further validated the data obtained through secondary research through primary research. Furthermore, the market size estimates and forecast provided in this study are derived through a mix of the bottom-up approach (country-level incidence data for various diseases) and top-down approach (assessment of utilization / adoption / penetration trends, by product, technology, application, animal type, and end user). After that, market breakdown and data triangulation methods were used to estimate the market size of segments and subsegments.
Major Growth Influencing Factors:
# Growth in the companion animal population
# Increasing prevalence of zoonotic diseases
# Advantages of POCT
# Increasing demand for animal-derived food products
# Growing demand for pet insurance & increasing pet care expenditure
Factor Which May Restrain the Growth:
# High cost of veterinary imaging systems
Projected Surge in the Global Market Value:
The global veterinary PoC diagnostics market in terms of revenue was estimated to be worth $1.4 billion in 2019 and is poised to reach $2.4 billion by 2025, growing at a CAGR of 8.9% from 2019 to 2025.
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Major Objectives of This Study:
# To define, describe, and forecast the veterinary PoC diagnostics market with respect to segments in product, animal type, application, technology, end user, and region.
# To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges).
# To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
# To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
# To forecast the size of the veterinary point-of-care diagnostics market for five main regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.
# To profile the key players in the global veterinary point-of-care diagnostics market and comprehensively analyze their core competencies.
# To track and analyze competitive developments such as acquisitions, new tests/technology developments, geographical expansions, and research & development activities of the leading players in the global market.
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Mr. Aashish Mehra
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