Animal Health Diagnostics Market| New Opportunities | Increase in Pet Humanization to Boost Growth in the Health Care Industry | Technavio

NEW YORK, May 6, 2021 /PRNewswire/ — The animal health diagnostics market is expected to grow by USD 1.78 bn…

NEW YORK, May 6, 2021 /PRNewswire/ — The animal health diagnostics market is expected to grow by USD 1.78 bn during 2021-2025, expanding at a CAGR of almost 10%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.

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Animal Health Diagnostics Market: Rising awareness about zoonotic diseases to drive growth

The risk of zoonotic disease is growing due to the rising cross-continental travel and increased rate of globalization. To prevent the transmission of zoonotic diseases, WHO implemented several initiatives such as tracking, surveillance, reporting activities, and response plan development in case of epidemics. The chances of zoonotic disease transmission can be further reduced through professional and public education. The demand for animal health diagnostics will grow due to the rising awareness about zoonotic diseases, which in turn, will fuel market growth.

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As per Technavio, the increase in pet humanization will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.

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Related Reports on Health Care Industry Include:

Animal Healthcare Market by Product and Geography – Forecast and Analysis 2021-2025: The animal healthcare market has the potential to grow by USD 8.02 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 4.20%. To get extensive research insights: Download Our Exclusive Sample Report

Animal Growth Enhancers Market by Product and Geography – Forecast and Analysis 2021-2025: The animal growth enhancers market has the potential to grow by USD 4.63 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.81%. To get extensive research insights: Download Our Exclusive Sample Report

Companion Animal Specialty Drugs Market by Product and Geography – Forecast and Analysis 2020-2024: The companion animal specialty drugs market size has the potential to grow by USD 2.29 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Download Our Exclusive Sample Report

Animal Wound Care Market by Application and Geography – Forecast and Analysis 2021-2025: The animal wound care market has the potential to grow by USD 758.93 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 7.46%. To get extensive research insights: Download Our Exclusive Sample Report 

Animal Health Diagnostics Market: Segmentation Analysis

This market research report segments the animal health diagnostics market by Type (Livestock and Companion) and Geography (North America, Europe, Asia, and ROW).

56% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the animal health diagnostics market in North America. Market growth in this region will be slower than the growth of the market in Asia. The animal health diagnostics market growth in North America can be attributed to the growing humanization of dogs and cats and an increase in the adoption of pets.

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Some of the key topics covered in the report include:

Market Challenges

Market Drivers

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Report: https://www.technavio.com/report/animal-health-diagnostics-market-industry-analysis

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