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Global Veterinary Point of Care (PoC) Diagnostics Market Share, Growth and Forecast to 2026
The global market for veterinary PoC diagnostics is projected to have considerable CAGR of around 9.5% during the forecast period. The market growth mainly backed by the increasing adoption of PoC diagnosis devices as the demand of early diseases diagnostic of zoonotic diseases across the globe. Many zoonoses such as avian influenza and rabies from wildlife are are increased, whereas as some such as Ebola have been emerged recently or being linked to wildlife reservoir species. Ebola was linked to cave-dwelling bats in Africa. Another instance of such disease is severe acute respiratory syndrome (SARS) coronavirus that has emerged from bats to civets before ultimately affecting humans in southern China. This disease costs more than 60 billion dollars, claiming more than 800 lives globally. Thereby, the increasing prevalence of zoonotic diseases contributes to the growth of the veterinary PoC diagnostics market as it is necessary to early diagnose the animals at risk to prevent such infections and serious diseases.
Global veterinary PoC diagnostics market to be driven by veterinary hospitals & clinics
Among end-user, the hospitals & clinics segment held a considerable share in the market. The market is mainly driven due to increasing number of veterinary hospitals providing PoC diagnosis for the zoonotic diseases across the globe. Moreover, preference towards diagnosis and treatment in veterinary clinic and hospitals is significantly more as compared to that of any other alternative such as mobile facility or van and animal shelters among various others. The immediacy of test results is a major advantage of in-clinic testing, especially in emergency situations. Therefore, clinics and hospitals with emergency and critical care service requiring PoC diagnostic equipment m with an in-house testing laboratory. Moreover, advanced diagnostic tests generally require some form of a measuring instrument, including a hematology analyzer, coagulation instrument, or chemistry or blood gas analyzer therefore the veterinary hospitals & clinics are mostly preferable for these instruments.
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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