The Europe Veterinary Biomarkers Market would witness market growth of 10.0% CAGR during the forecast period (2022-2028).
Biomarkers are useful in laboratory research because they act as stand-in endpoints for assessing therapeutic efficacy in in vitro and animal models. An illustration of a biomarker would be a particular molecule linked to an illness; as a result, when the condition is successfully treated with medication or another therapy, the amount of the biomarker measurably changes. Biomarkers can serve as early therapy guides and provide insight into a patient's response to treatment and prospective outcomes since the changes they identify frequently occur before clinically observable changes.
This new emphasis on diagnosis and diagnostic procedures fundamentally focuses on three things: technical advancement, speed, and evidence. Rapid and point-of-care tests are not yet available for all aspects of diagnosis that are pertinent to antimicrobial choice, despite significant advancements in the technologies of diagnostic testing for many infectious diseases that have made testing technologies not only smaller and more portable, making them more accessible to individual and corporate veterinary practices.
The majority of people in Europe own pets and view them as members of their families. The proportion of households with at least one pet animal has increased, and pet expenses are rising. When it comes to spending on pet care in Europe, Germany, and the United Kingdom are at the top. The spending is so much that during COVID-19, the pet care sector demonstrated its resilience to economic downturns. Pet owners typically reduce their spending on themselves before reducing spending on their animals, indicating that the income elasticity of pet care is quite low.
The Germany market dominated the Europe Veterinary Biomarkers Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $90.8 million by 2028. The UK market is anticipated to grow a CAGR of 9% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 10.8% during (2022 - 2028).
Based on Animal Type, the market is segmented into Companion (Dogs, Cats, and Others) and Production. Based on Disease Type, the market is segmented into Inflammatory & Infectious Diseases, Turf & Landscaping, Tumor, Skeletal Muscle Diseases, and Others. Based on Product Type, the market is segmented into Biomarkers, Kits & Reagents and Biomarker Readers. Based on Application, the market is segmented into Disease Diagnostics, Preclinical Research, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Veterinary Biomarkers Market will Hit $1.5 Billion by 2028, at a CAGR of 11.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Zoetis, Inc., Merck & Co., Inc., Virbac, IDEXX Laboratories, Inc., MI:RNA Diagnostics Ltd., Mercodia AB, Antech Diagnostics, Inc. (Mars, Inc.), Avacta Animal Health Limited (Vimian Group), Life Diagnostics, Inc., and Acuvet Biotech.
By Animal Type
By Disease Type
By Product Type
By Application
By Country
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