Humans and animals are best example of coexisting. Just like human beings, even animals are being offered medical treatments in the form of veterinary services. Animals have been adopted for several purposes like keeping them as pets or using them in agriculture. In an attempt to protect animals from chronic diseases, veterinary biomarkers are being extensively used. Several factors are contributing to the growth of the veterinary biomarkers market. One of the major reasons is surging prevalence of chronic diseases related to cardiovascular organs and cancer. Veterinary surgeons are using biomarker-based diagnostic kits to diagnose or predict any sort of a disease beforehand.
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The recent coronavirus pandemic had an adverse impact on the growth of the veterinary biomarkers market. Courtesy of lockdown curbs imposed to restrict the spread of virus, accessibility to veterinary services was difficult. Also many veterinary hospitals and clinics were shut, this too hampered this market’s growth.
One of major factor that is driving the growth of the veterinary biomarkers market is rising number of animals being adopted as pets or companions. Majority of people are adopting pets like dogs and cats. Another factor that aids in the growth of this market is jump in research and development activities to find new ways to use biomarkers more effectively.
The growth of the veterinary biomarkers market is likely to face hindrance in the form of couple of factors. One of them is that the veterinary treatments usually cost on higher side and this is why not everyone can afford it.
Irrespective of few hiccups, the veterinary biomarkers market is forecasted to witness huge growth over the period of next few years. This type of veterinary treatment by using biomarker is still new to many countries or markets, and is what will drive this market’s growth in the near future.
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By Product Type, Testing Kits Segment is witnessing highest growth for the Veterinary Biomarkers Market in 2022
Testing kits that are based on biomarkers help in early prediction of chronic diseases in pets, and this is why many veterinarians prefer using it. This is the reason why this segment dominates in terms of market share for the market.
Asia Pacific Region is Expected to Witness Fastest Growth Over the Forecast Period (2022 – 2030) in the Veterinary Biomarkers Market
Rise in disposable income and majority of young professionals living in bigger cities in countries like India and China are rampantly adopting pets. Having a pet has been said to have psychological benefits. Rising adoption of companion animals will drive this market’s growth in the region.
A few of the major players operating in the global veterinary biomarkers market are listed below:
- ACUVET BIOTECH
- Antech Diagnostics, Inc.
- Avacta Animal Health Limited
- COBO SCIENTIFIC ApS
- Life Diagnostics
- Mercodia AB
- Veterinary Biomarkers, Inc.
- Other Market Participants
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Global Veterinary Biomarkers Market
Global veterinary biomarkers market has been segmented by animal type, product type, diseases type, end users which are further classified into respective countries:
Global Veterinary Biomarkers Market Animal Type Outlook (Revenue, USD Million, 2015 - 2030)
- Companion animals
- Farm Animals
Global Veterinary Biomarkers Market Product Type Outlook (Revenue, USD Million, 2015 - 2030)
- Testing Kits
Global Veterinary Biomarkers Market Diseases Type Outlook (Revenue, USD Million, 2015 - 2030)
- Inflammatory Diseases
- Infectious Diseases
- Cardiovascular Diseases
Global Veterinary Biomarkers Market End Users Outlook (Revenue, USD Million, 2015 - 2030)
- Veterinary Hospitals
- Veterinary Clinics
- Research Centers
Global Veterinary Biomarkers Market Regional Outlook (Revenue, USD Million, 2015 - 2030)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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