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Reports
The structural and functional similarities between the animal and human bodies have allowed the enormous need for animal therapies that are both effective and safe. Several of the issues that people face are comparable to those that animals face. For instance, in recent years, there has been a sharp increase in the number of incidences of pet obesity. This is leading to a greater emphasis on animal welfare, which is contributing toward the growth of the global animal therapeutics and diagnostics market. A considerable portion of the population in developing as well as underdeveloped nations still relies on animal husbandry for a living. As a result, animal therapies and diagnostics are expected to be in high demand in these nations in the coming years.
The expansion of global animal therapeutics and diagnostics market is fueled by an increasing in the number of animals in developing countries, a rise in demand for animal-based meals, and rising adoption of companion animals. Due to growing illnesses impacting livestock, the global animal therapeutics and diagnostics market has shown moderate expansion in recent years. Pandemic outbreaks occur in huge extinctions of animals, which is an increasing issue for sectors that rely on farm animals for their products. Furthermore, zoonotic illnesses that afflict animals represent a hazard to human health, making disease identification and treatment a critical component of disease management.
Therapeutic products, diagnostics products, animal type, and region are important factors in the market that has been considered for the classification of the global animal therapeutics and diagnostics market.
In June 2021, IDEXX Laboratories, Inc. disclosed the purchase of rVetLink, a cloud-based software technology business that offers referral management services for animal diagnostics and veterinary specialty care clinics. The company's portfolio of cloud technology products for animal diagnostics is likely to be expanded as a result of this acquisition.
Some of the major players in the global animal therapeutics and diagnostics market are as mentioned below
Below-mentioned developments, restraints, opportunities, and drivers are anticipated to characterize the global animal therapeutics and diagnostics market
Animal care items such as veterinary drugs, vaccinations, and diagnostics are in high demand due to the growing adoption of pets and the rise in the number of pets throughout the world. The global animal therapeutics and diagnostics market is growing as the prevalence of zoonotic and infectious illnesses rises, animal health spending rises, and the number of veterinary practitioners rises. Moreover, rising demand for livestock animals for the purpose of animal protein, meat products, and large-scale animal husbandry is expected to accelerate market growth throughout the forecast period.
Various instruments employed in the detection of animal illnesses caused by microorganisms such as viruses, bacteria, pathogens, and fungus, amongst many others, are referred to as animal diagnostics. These animal diagnostics instruments are used by veterinarians to identify disease, track disease progression, and prescribe the best treatment options, as well as to screen for disease-causing substances in healthy animals. Animal diagnostics kits offer rapid, specific, sensitive, and cost-effective assessment, and there is a large range of these tests to choose from that can be used to diagnose a variety of animal ailments.
North America accounted for one-third of overall sales in the animal diagnostics category that year. North America is also estimated to account for the large share of the global market. The global animal therapeutics and diagnostics market is growing rapidly in the Asia Pacific region.
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Animal Therapeutics and Diagnostics Market
