The Global Animal Therapeutics and Diagnostics Market size was valued at USD 34.66 billion in 2020 and is predicted to reach USD 59.21 billion by 2030 with a CAGR of 5.5% from 2021-2030. Animal therapeutics and diagnostics products include various instruments and consumables for the diagnosis, treatment, and prevention of ailments in animals. They play an important role in preventing serious epizootic diseases and are widely used for treating diseases such as anthrax, black quarter (black-leg), foot and mouth disease, rabies (mad dog disease), blue tongue, pox, and brucellosis of sheep, among others. The diagnostic instruments include, small imaging devices such as positron emission tomography (PET) scanners, single-photon emission computed tomography (SPECT) scanners, laryngoscopes, ophthalmoscopes, and ENT equipment among others. Whereas, animal therapeutic products include drugs such as painkillers, tranquilizers, antibiotics and sedatives. These instruments and drugs. Market Segmentations and Scope of the Study: The global animal therapeutics and diagnostics market share is categorized on the basis of product type, animal type and geography. On the basis of product type, the market is segmented into animal therapeutic products and animal diagnostics products. Animal therapeutic products are further divided into anti-inflammatory drugs, anti-parasitic drugs, antibiotics, anaesthetics and others. Animal diagnostics products is further classified intoOn the basis of animal type, the market is segmented as companion animals, sheep, poultry pigs, and cattle. Companion animals/pet animals are further divided into dogs, cats, etc. Based on geography, it is categorized into North America, Europe, Asia-Pacific, and RoW. Request for a free sample- https://www.nextmsc.com/Animal-Therapeutics-andDiagnostics-Market/request-sample Geographical Analysis At present, North America dominates the market and is anticipated to maintain its dominance throughout the forecast period. This is attributed to factors such as increasing prevalence of animal diseases and rising adaptation of companion animals such as dogs and cats in countries like the U.S. and Canada. Apart from this. the market in Europe is also expanding at a promising rate with the increasing number of veterinarians and growing awareness about animal diseases. As per a recent study, disease like appendicular osteoarthritis affects around 2,00,000 dogs every year in U.K. alone, which in turn propels the growth of animal therapeutics and diagnostics market in this region. On the other hand, Asia Pacific market for animal therapeutics and diagnostics is predicted to show consistent growth in terms of market share. This is due to the factors such as emergence of various zoonotic diseases, rapid urbanization and increasing livestock population in this region.
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Diagnostics-Market/inquire-before-buying Competitive Landscape The animal therapeutics and diagnostics market consist of a number of major players including BioNote Inc, Heska Corp, IDEXX Laboratories Inc, IDvet, Randox Laboratories Ltd., SWISSAVANS AG, Teco Diagnostics, Thermo Fisher Scientific Inc., Virbac SA, Zoetis Inc., Thermo Fisher Scientific, Inc., bioMérieux S.A., Zoetis Inc., Bio-Rad Laboratories, Inc., Medical Bioscience GMBH, and Agrolabo SpA. Strategic alliances, acquisitions and innovations along with R&D are key strategies used by market players to maintain market dominance. For instance, in July 2020, Bionote USA launched a slanted in vitro diagnostic test kit for the quantitative measurement of NTproBNP concentration in canine serum to its Vcheck product line. The Vcheck diagnostic product line includes immunoassay analyzers and tests for the veterinary market. About Us: Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics. We carefully analyse the historical data, augment it by constantly keeping an eye on the latest industry trends and estimate the future events to arrive at accurate market forecasts. For more insights, please visit, https://www.nextmsc.com
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