Veterinary PoC Diagnostics Market - Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecast to 2027

The global veterinary POC market is expected to grow at a CAGR of 7.4% from 2020 to reach USD 2.47 billion by 2027. The growth is primarily attributed to increasing zoonotic diseases in companion and livestock animals, increasing adoption of POC devices in labs and hospitals & clinics, growing adoption of pet animals along with increasing population of livestock animals.

By Product: Consumables dominated the veterinary POC diagnostics market in 2020

Consumables segment accounted for the largest share of veterinary POC diagnostics market. The largest share of this segment is mainly due to recurrent use of consumables and wider availability of reagents for diseases.

By Technology: Clinical biochemistry hold largest share in the veterinary POC diagnostics market in 2020

On the basis of technology, veterinary point of care diagnostics market is segmented into immunodiagnostics, clinical biochemistry, molecular diagnostics, hematology, urinalysis, and other technologies. Clinical biochemistry segment held largest share in 2020 and is expected to follow same trend during the forecast period. The largest share of this segment is mainly attributed to wider of application of clinical biochemistry devices in companion animals and growing adoption of companion animals across the globe. However, molecular diagnostic segment is expected to register highest growth during the forecast period.

By Application, Clinical pathology accounted for the largest market share in 2020

Veterinary point of care diagnostics market is segmented into clinical pathology, bacteriology, virology, parasitology, and other applications on the basis of application. Clinical pathology accounted for largest market share in 2020 and expected to grow further in the forecast period. The growth is mainly related to adoption of various types of chemistry analysers in the clinical diagnosis of diseases in primary stage in companion animals

By Animal Type: Companion animal segment accounted for largest share in 2020 and expected to register highest growth

On the basis of animal type, companion animal segment accounted for the largest share in veterinary POC diagnostics market. The large share and high growth of this segment is mainly attributed to increasing adoption of companion animal and growing pet expenditure along with increasing pet insurance. On the other hand, few players are developing POC diagnostic devices for livestock animal segment which will drive the adoption of POC devices in livestock.

By End User: Veterinary point of care diagnostics market held largest market share in veterinary clinics in end user segment

Based on the end user segregation, veterinary clinics accounted for largest market share in 2020. Increasing veterinary visits, growing number of veterinary clinics across the globe, and rising veterinary expenditure are key factors driving the growth of this segment.

By Region: APAC is the fastest growing regional market

In 2020, North America accounted for the largest share of veterinary POC diagnostics market. The largest share of this regional segment is mainly due to well established animal health industry in the region, high pet expenditure, & growing adoption of companion animals. On the other hand, APAC regional segment is expected to grow at a highest rate. High growth of this market is primarily due to increasing number of vet facilities in this region, growing companion animal population, and increasing awareness on animal health.

Competitive Scenario

• Zoetis Inc. (US)
• IDEXX Laboratories Inc. (US)
• Heska Corporation (US)
• accounted for the major share of the veterinary POC diagnostics market.
• Other key players operating in this market are
• Virbac (France)
• Thermo Fisher Scientifi. Inc. (US)
• Eurolyser Diagnostica GmbH (Austria)
• Woodley Equipment Company (UK)
• Randox Laboratories LTD. (UK)
• AniPOC Ltd. (UK)
• Carestream Health Inc. (a part of ONEX Corporation) (Canada)
• NeuroLogica Corporation (a part of Samsung Electronics Co. Ltd.) (South Korea)
• and FUJIFILM SonoSite (a part of FUJIFILM Holdings Corporation) (Japan)