Veterinary Infectious Disease Diagnostics Market Recorded Hyper Growth in the Upcoming Year
Posted by Sanyukta K on August 29th, 2022
Increasing prevalence of various infectious diseases in companion animals significantly boosts the growth of the veterinary infectious disease diagnostics market. However, lack of awareness regarding the use of veterinary infectious disease diagnostics in underdeveloped countries restricts the growth of the veterinary infectious disease diagnostics market.
Increase in ownership of companion animals and increase in spending on animal health are the major factors driving the growth of the global veterinary infectious disease diagnostics market. For example, diagnosing animal diseases requires a large amount of funds. The number of customers who are willing to spend more and willing for such services has increased.
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By product type, the immunodiagnostics segment accounted for the largest share of the veterinary infectious diseases market in 2018. Furthermore, this segment is expected to grow at the fastest rate during the forecast period owing to factors such as rising incidence of infectious diseases. animal Moreover, other factors contributing to the growth of the market include increase in animal healthcare costs.
By application, the canine segment accounts for the largest share of the global veterinary infectious disease diagnostics market and is expected to exhibit the fastest growth rate during the forecast period owing to the rise in ownership of dogs as companion animals across the globe. On the basis of region, North America accounts for the largest share due to easy availability of veterinary infectious disease diagnostic products in the region, increase in pet ownership and increase in animal healthcare expenditure. Another major factor contributing to the growth of this market is the rise in the incidence of various animal-related diseases.
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About the AuthorSanyukta K
Joined: July 13th, 2022
Articles Posted: 49
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