Point-Of-Care Testing Emerges as Sizable Avenue for Companies in Companion Animal Diagnostics Market, Valuation of the Segment to Double During 2019 and 2027

Point-Of-Care Testing Emerges as Sizable Avenue for Companies in Companion Animal Diagnostics Market, Valuation of the Segment to Double During 2019 and 2027

PR Newswire

ALBANY, N.Y., Sept. 15, 2020

- Widespread adoption of clinical biochemistry tests as basic test has spurred on revenue generation in market, propelling it to clock CAGR of ~9% from 2019 to 2027

- Presence of numerous prominent players will help North America retain dominant position in global market throughout forecast period; most players focusing on clinical pathology application

ALBANY, N.Y., Sept. 15, 2020 /PRNewswire/ -- A wide spectrum of technologies are used in the diagnosis of companion animal diseases, notably in dogs and cats. Extensive focus on pet care has led to the emergence of point-of-care testing in developed regions. Veterinary reference laboratories are abuzz with opportunities.

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TMR analysts opine that prevention of illnesses in companion animals will spur research in new product developments, notably in clinical biochemistry technology. This will help aspiring players tap into consistent revenue streams, more recently in regions with unmet needs.

The companion animal diagnostics market is projected to clock CAGR of ~9% during 2019 – 2027, and reach worth of ~US$ 5 Bn by 2027-end.

Key Findings of Companion Animal Diagnostics Market Report

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Companion Animal Diagnostics Market: Key Driving Factors and Promising Avenues

Explore 230 pages of top-notch research, incisive insights, and detailed country-level projections on Companion Animal Diagnostics Market (Technology: Clinical Biochemistry [Clinical Chemistry Analysis, Glucose Monitoring, and Blood Gas & Electrolyte Analysis], Molecular Diagnostics [Polymer Chain Reaction Tests, Microarrays, and Others], Immunodiagnostics, Hematology, Urinalysis, and Others); Application: Clinical Pathology, Bacteriology, Parasitology and Others; Animal: Dogs, Cats, and Others; End User: Veterinary Reference Laboratories, Veterinary Hospitals and Clinics, Point-of-care/In-house Testing, and Research Institutes and Universities) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/report-toc/66719

Companion Animal Diagnostics Market: Regional Landscape

Regionally, North America has been a lucrative market for many years. Rise in pet insurance and a flourishing lab infrastructure have been key pivots for its expansion. Focus of governments in the region on prevention of outbreaks of diseases among these animals has spurred rapid expansion of opportunities in the market.

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On the other hand, the focus of health wellness has been high in Asia Pacific. The regional market is being considered as a huge revenue potential during the forecast period. Prevalence of chronic diseases in pets has boosted healthcare infrastructure in the region.

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The Companion Animal Diagnostics Market can be segmented as follows:

• Companion Animal Diagnostics Market by Technology

     o  Clinical Biochemistry

           •   Clinical Chemistry Analysis

           •   Glucose Monitoring

           •   Blood Gas & Electrolyte Analysis

     o  Molecular Diagnostics

           o  Polymer Chain Reaction Tests

           o  Microarrays

           o  Others

     o  Immunodiagnostics

     o  Hematology

     o  Urinalysis

     o  Other 

• Companion Animal Diagnostics Market by Application

     o  Clinical Pathology

     o  Bacteriology

     o  Parasitology

     o  Other

• Companion Animal Diagnostics Market by Animal

     o  Dog

     o  Cat

     o  Other

• Companion Animal Diagnostics Market by End User

     o  Veterinary Reference Laboratories

     o  Veterinary Hospitals and Clinics

     o  Point-of-care/In-house Testing

     o  Research Institutes and Universities

• Companion Animal Diagnostics Market by Region

   o  North America

     o  U.S.

     o  Canada

   o  Europe

     o  Germany

     o  U.K.

     o  France

     o  Italy

     o  Spain

     o  Rest of Europe

   o  Asia Pacific  

     o  China

     o  India

     o  Japan

     o  Australia & New Zealand

     o  Rest of Asia Pacific

   o  Latin America

     o  Brazil

     o  Mexico

     o  Rest of Latin America

   o  Middle East & Africa

     o  GCC Countries

     o  South Africa

     o  Rest of Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:

Veterinary Endoscopes Market: According to the report, the global veterinary endoscopes market was valued at US$ 458.3 Mn in 2018 and is anticipated to expand at a CAGR of 7.1% from 2019 to 2027, rapid rise in pet population worldwide is projected to drive the global veterinary endoscopes market during the forecast period

Veterinary Therapeutics Market: Companies operating in the current veterinary therapeutics market are expected to increase their market share by relying on inorganic growth strategies such as mergers & acquisitions. While expanding the product portfolio will continue to be an integral part of growth strategies for participants operating in the current market landscape, commercialization and development of new veterinary therapeutics are expected to gain momentum

Veterinary Radiography System Market: Needle-based storage-phosphor detector radiography is gaining importance in the veterinary radiography system market. This technique is found to be superior to conventional storage-phosphor and mammography screen-film systems. Needle-based detector systems perform better than screen-film systems in diagnostic imaging of small animals.

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