According to FutureWise analysis, the market for veterinary point of care diagnostics in 2023 is US$ 1.94 billion, and is expected to reach US$ 4.72 billion by 2031 at a CAGR of 11.70%.
Veterinary PoC (Point of Care) diagnostics are medical equipment used for diagnosis of animal health in clinical practice without relying on results from clinical laboratories. The advancements made in lateral flow technology, such as microfluids, have transformed the veterinary PoC diagnostics market. Veterinary PoCs are very useful for diagnosing pandemic diseases among animals. Veterinary diagnostics at the Point of Care (POC) allows physicians to achieve accurate, real-time results within minutes. Globally, Veterinary Point-Of-Care Diagnostics have grown in demand due to widespread Coronavirus outbreaks to diagnose a variety of animal diseases. The rise in the companion animal population, the prevalence of zoonotic diseases, the advantages of POCTs, and the increase in pet care expenditure are responsible for the growth of this market. Diagnostic techniques used by veterinary PoCs are fast, cost-effective, and easy to use. The advantages of Point Care technology over conventional clinical laboratories are expected to boost the growth of the veterinary PoC diagnostics market in the future.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Veterinary Point Of Care Diagnostics Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Veterinary Point Of Care Diagnostics Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.