The veterinary infectious diseases diagnostics market is projected to grow at a CAGR of 7.98% to reach US$5.369 billion by 2025. The prevalence of diseases such as colony collapse disorder, zoonotic diseases, rabies, canine distemper among some other diseases is increasing due to the different types of bacteria, virus, and parasites present in the surroundings and the lack of practice of proper hygiene among the animals. This is leading to the spread of infections and causing health related problems to the pets and livestock owners. Thus, this is encouraging them to go for regular veterinary infectious disease diagnostics checkups in order to keep the animals' health in check and prevent them from contracting a disease, which is boosting the market growth.
Better, advanced and diverse varieties of veterinary infectious diseases diagnostics with enhanced features that are able to effectively aid in the proper and efficient diagnosis and detection of the diseases are being launched. Products being offered by existing and new players in different markets are estimated to lead to increased adoption and propel market growth further over the forecast period.
Molecular Diagnostics are estimated to increase their market share over the forecast period as the demand for faster and effective results grows, coupled with growing adoption among research centers and diagnostic laboratories. Infectious diseases are getting more complex and are growing increasingly common among livestock and companion animals, thus leading to a rising concern among owners. This is encouraging them to opt for the better and more effective tests that are able to deliver efficient results in a short period of time.
Livestock animals are one of the key drivers for sustainable development in agriculture, apart from contributing to food security, nutrition and the alleviation of poverty and economic growth. Out of every five farm animals, about one animal is lost to serious infectious diseases, which can lead to it affecting individuals in the population globally as they depend on a daily supply of meat, poultry, milk and other dairy products, the quality of which can deteriorate due to disease. In addition, the cost burden of diseases is increasing and can lead up to losses of around $80 billion.
Livestock animals are estimated to hold a notable share over the forecast period owing to the fact that there has been an increase in the number of farm animals that are suffering from different diseases. This is driving the requirement of diagnostics services and veterinary services for these animals to prevent the risk of getting seriously ill by infections.
This report segments the Veterinary Infectious Diseases Diagnostics Market as follows:
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