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Animal Diagnostics Market Analysis
- Report ID: GMI2495
- Published Date: Mar 2023
- Report Format: PDF
Animal Diagnostics Market Analysis
Based on technology, animal diagnostics market valuation from the immunodiagnostics segment is poised to grow past USD 8 billion by 2032, driven by the rising cases of zoonotic diseases in livestock. Some of the most common zoonoses that affect farm animals include viral respiratory tract infections, leptospirosis, bovine ephemeral fever, infectious bovine rhinotracheitis, and Johne's diseases. As per WHO, around 1 billion cases of death and illness occur annually from zoonoses globally. This creates a strong need for sophisticated animal diagnostics among farmers as to protect their livestock investments. Immunodiagnostics gives vets the ability to detect many autoimmune diseases, making them crucial to the cause.
With respect to the end-use, animal diagnostics market share from veterinary clinics is expected to be valued at over USD 10 billion by 2032, fostered by the growing corporatization of the segment, where more veterinary clinic chains are emerging to boost access to advanced diagnostic services. In fact, back in October 2021, city officials in Detroit, Michigan unveiled plans for a state-of-the-art animal shelter worth USD 5 million for Detroit Animal Care and Control, which will also include a new veterinary medical clinic with modern amenities.
North America animal diagnostics market is expected to grow at over 8.5% CAGR through 2023 - 2032, on account of the growing spending on pet care. In fact, as per reliable sources, the capital spent on pet care services in the US has doubled over the last decade, creating strong impetus for animal diagnostic services. Back in 2021, veterinary care expenditure reached USD 32 billion in the country driven by this trend. The regional growth is also outlined by favorable regulatory policies for supporting various market players operating in the business space.
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Animal Diagnostics Market Scope
