Veterinary Medical Equipment Global Market Report 2024 [Yahoo! Finance]
IDEXX Laboratories, Inc. (IDXX)
Last idexx laboratories, inc. earnings: 4/30 06:30 am
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Source: Yahoo! Finance
The veterinary medical equipment market size is expected to see strong growth in the next few years. It will grow to $3.45 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period can be attributed to the adoption of companion animals, increased efficiency in veterinary treatment facilitated by portable X-rays and ultrasound scanners, improved standards of living and a strengthened middle class, heightened awareness of pet vaccinations, and the legal requirement of microchipping. Major trends in the forecast period include a need for veterinary diagnostic providers to invest in advanced technologies for faster diagnosis of medical conditions, the rapid adoption of companion animals driving the market and thereby growing the veterinary equipment market, a recommendation for veterinary diagnostic service providers to adopt molecular biology for early disease detection, recognition that wearable technologies enable tracking critical
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