Veterinary Diagnostic Equipment Market Report 2024: A $1.44 Billion Opportunity by 2028 Driven by Digital Integration, Telemedicine, AI, Eco-Friendly Practices [Yahoo! Finance]
IDEXX Laboratories, Inc. (IDXX)
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Source: Yahoo! Finance
The veterinary diagnostic equipment market size has grown strongly in recent years. It will grow from $1.02 billion in 2023 to $1.09 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth observed in the historical period can be ascribed to several key factors, including the rise in pet ownership, the expansion of the livestock industry, the prevalence of companion animals, a growing demand for preventive veterinary care, and increased levels of disposable income. The veterinary diagnostic equipment market size is expected to see strong growth in the next few years. It will grow to $1.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth in the forecast period can be attributed to factors such as heightened awareness of pet healthcare, preparedness for global pandemics, an increased emphasis on animal disease surveillance and control, and the growing popularity of pet insurance. Notable trends expected during this period enc
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