Veterinary Point Of Care Diagnostics Market - Industry Size, Share, Growth & Forecast 2027

CANANDAIGUA, N.Y. - July 18, 2022 - PRLog -- The increasing pet adoption is the main factor is contributing factor in the veterinary industry. Furthermore, the increasing number of diseases in the animal is also contributing to the increasing market of the veterinary point-of-care diagnostic industry.  For instance, according to Vikaspedia (Government of India), the total Livestock population is 535.78 million in the country showing an increase of 4.6% over Livestock Census2012, and the total Bovine population (Cattle, Buffalo, Mithun, and Yak) is 302.79 Million in 2019 which shows an increase of 1.0% over the previous census. Furthermore, the increasing number of zoological parks and rising efforts on animal conservation in them have a significant effect on the market for point of care in veterinary treatment.

According to UnivDatos Market Insights (UMI)' research report "Global Veterinary Point Of Care Diagnostics Market Analysis, 2021", the veterinary point of care diagnostics market is projected to grow at a CAGR of ~12% during 2021-27F. The rising population of pets and the diseases among them are the factors that drive the worldwide demand for efficient diagnostic solutions augmenting the growth of the veterinary point of care diagnostics market globally.

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Based on the animal type, the market is segmented into livestock and companion. The livestock segment is expected to witness significant growth. The increasing cattle population and growing adoption of modern technology to provide care to the animals attribute to the market growth of the segment in the veterinary market. For instance, as per the Department Of Animal Husbandry and Dairying – Government of India, in 2019, the female cattle population was 145.12 million which increased by 18.0% over 2012.