Veterinary infectious disease diagnostic market to exceed $2B by 2026
by Katie Pfaff
The global market for veterinary infectious disease diagnostics is projected to grow to $2.36 billion by 2026. The increase comes after a projection of $1.63 billion in 2022, based on a report from Research and Markets, which provides market insights and analysis around the world.
The growth from 2022 to 2026 is expected to amount to a Compound Annual Growth Rate (CAGR) of 9.7%, according to a news release.
The increasing incidence of zoonotic diseases such as rabies is expected to propel the growth of the market in the years to come. Zoonoses are diseases and infections that are transferred spontaneously between humans and vertebrate animals. Veterinary infectious disease diagnostics are used to detect rabies in pets and animals. These devices are used to prevent animals from causing death. For instance, in 2021, according to the World Health Organization (WHO), rabies disease was found in over 150 nations and territories.
The American Veterinary Medical Association recently highlighted that the Centers for Disease Control and Prevention updated its rabies pre-exposure prophylaxis for humans, replacing the three-dose rabies vaccination schedule with a two-dose vaccination schedule that will provide protection for at least three years.
In 2021, North America held the largest share of the veterinary disease diagnostics market. However, going forward, the regional market of Asia Pacific is expected to grow at the fastest rate.
Learn more about this report on Research and Markets website.
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