Latest News- Animal Health Diagnostics Market: Companion is expected to lead the Type segment during 2025-2029

The Animal Health Diagnostics Market is being driven by Increase in pet humanization

The Animal Health Diagnostics Market is expected to grow at a CAGR of 9.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2102.5 million. In the animal health industry, major companies are fostering technological advancements by collaborating with startups. The Internet of Things (IoT) is revolutionizing animal healthcare through the use of health monitors that gather and analyze extensive data over prolonged periods. This data-driven approach offers significant benefits, including insights into health trends and patterns for both veterinarians and animal owners. In the pet sector, there is a growing demand for health monitors, wearable activity trackers, and remote video engagement. Livestock monitoring solutions provide real-time data analytics, enabling timely intervention for feeding and healthcare. These technological innovations are transforming the animal health landscape by enabling more informed decision-making and improved animal welfare. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Companion
  • Livestock
• End-user
  • Veterinary hospitals
  • Veterinary clinics
  • Diagnostic centers
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Asia
    • China
    • India
    • Japan
    • South Korea
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in pet humanization
• Rising awareness about zoonotic diseases
• Increasing dependency on livestock products

However, the market also witnesses some limitations, which are as follows:

• Rising cost of animal healthcare
• Regulatory hurdles with animal health diagnostics
• Lack of market penetration in rural areas

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Market Scope in Animal Health Diagnostics Market Research Report

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Research Analysis Overview

The Animal Health Diagnostics Market encompasses various sectors including veterinary diagnostics software, pet health monitoring, veterinary laboratory services, and veterinary diagnostics standards. Advanced veterinary diagnostics, such as point-of-care testing and personalized medicine, play a significant role. Companion animal diagnostics and livestock diagnostics are key areas of focus. Veterinary diagnostic training, consulting, research, and innovation are essential for preventing animal diseases and ensuring the highest veterinary care needs are met. Animal health diagnostics also involve veterinary diagnostic services, veterinary diagnostic testing, and animal disease surveillance in veterinary laboratories.

Market Research Overview

The Animal Health Diagnostics market is a significant segment of the larger Global Healthcare Supplies industry, encompassing companies and research entities specializing in the development of medical solutions for diagnosing and managing diseases in animals. According to Technavio's market analysis, the Healthcare Supplies sector encompasses the revenue generated by manufacturers of various diagnostic tools and consumables, including complete blood count (CBC) equipment, used in preventive healthcare applications for animals. Factors driving growth in this market include the humanization of pets, resulting in increased demand for advanced diagnostics like molecular diagnostics for conditions such as diabetes in dogs. Additionally, the aging pet population, particularly in developed markets like the US and Europe, is expected to significantly increase, further fueling market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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