Veterinary Immunodiagnostics Market Size, Share, Growth Analysis, By Product(Analyzers, Consumables), By Technology(ELISA, Radioimmune Assays, Rapid Tests, Others), By Animal type(Companion animals, Livestock), By End-User(Reference laboratories, Veterinary Hospitals, Clinics, PoC Testing), By Region - Industry Forecast 2024-2031

Veterinary Immunodiagnostics MarketDriver

• At least 30 serious illnesses that affect people can be spread by animals. The majority of human infections are spread by livestock and companion animals (like dogs and cats) (such as pigs, chickens, cattle, goats, and camels). Major zoonotic illnesses that spread from animals to people include rabies, leptospirosis, cysticercosis, zoonotic tuberculosis, and gastrointestinal disease.
• Additionally, transboundary diseases are now more common. For instance, foot-and-mouth disease (FMD), which has a 100% morbidity rate, was estimated to affect about 77% of the world's livestock in nations in Africa, the Middle East, and Asia, as well as in a small portion of South America (in susceptible cattle populations).
• There is a zoonotic source for the COVID-19 global outbreak brought on by the SARS-CoV-2 virus. According to phylogenetic analysis, bats seem to be the COVID-19 virus' reservoir. Since there is typically little in the way of close contact between people and bats, it is more likely that the virus was transferred from other animal species that people handled to people. Currently unknown, this intermediate animal host or zoonotic source could be a domestic animal, a wild animal, or a domesticated wild animal. Globally, the COVID-19 pandemic has resulted in a significant loss of life and is an unprecedented threat to public health.

Veterinary Immunodiagnostics MarketRestraint 

• The cost of caring for pets has significantly increased over the past ten years. Our research indicates that veterinary care is the second-highest expenditure category in the pet care industry. For instance, the US spent over US$ 18.11 billion on veterinary care, up 6.1%from the year before. A high-end procedure could cost anywhere between US$ 5,000 and US$ 20,000, according to PetMD, with low-to-medium pet care costs reaching US$ 250 to US$ 4,500 in veterinary offices.
• For example, the cost of diagnostic procedures to determine antimicrobial sensitivity or the presence of an infection using PCR or other cutting-edge technologies is higher. Treatments rely heavily on cutting-edge products and techniques, but these products and techniques come at a very high cost in terms of materials and equipment and the cost of the actual treatment. Consequently, both pet owners and veterinarians are hesitant to spend so much on diagnostic procedures.