According to the latest report by Reports and Data, the global Veterinary Clinics market size was USD 53.6 Billion in 2022 and is expected to register a revenue CAGR of 13.6% over the forecast period. The report identifies various factors driving the growth of the Veterinary Clinics market, such as the increased need for effective diagnosis and control of animal illnesses to ensure food safety due to the rising demand for commodities produced from animals, such as milk, meat, and eggs.

Moreover, the introduction of innovative diagnostic procedures and equipment that provide rapid and precise findings is another driver driving market revenue growth. For example, Point-Of-Care Testing (POCT) instruments have grown in popularity since they allow for the rapid and accurate diagnosis of a wide range of animal illnesses while saving time and money when compared to traditional laboratory testing.

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The report highlights that the consumables segment accounted for a significantly large revenue share of the worldwide Veterinary Clinics market in 2022 due to an increase in the usage of consumables such as test kits, reagents, and other supplies, which are critical components of diagnostic testing. The report also identifies that the veterinary clinics segment accounted for the biggest revenue share in the worldwide Veterinary Clinics market during the forecast period due to increased pet ownership, the incidence of zoonotic infections, and increased pet owner knowledge of the significance of routine veterinary check-ups.

The North American market held the biggest revenue share in the worldwide Veterinary Clinics market over the projection period due to the increasing pet adoption rate in the region, as well as public awareness of animal health. Furthermore, the abundance of Veterinary Clinics enterprises in this area is likely to fuel market revenue development.

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The report profiles some of the prominent players in the global Veterinary Clinics market, including IDEXX Laboratories, Inc., Zoetis Inc., Heska Corporation, Neogen Corporation, Thermo Fisher Scientific Inc., Virbac, IDvet, Abaxis, Inc., and Biomérieux SA. Zoetis Inc. purchased ZNLabs, a veterinary reference laboratory that specializes in diagnostic testing for companion animals, on November 22, 2019. The goal of this purchase was to broaden Zoetis' diagnostics services and increase its position in the Veterinary Clinics industry.

The global Veterinary Clinics market has been segmented on the basis of product type outlook, end-use outlook, and regional outlook. The product type outlook includes instruments, consumables, and others. The end-use outlook includes veterinary clinics, reference labs, academic institutions, and others. The regional outlook includes North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

In conclusion, the global Veterinary Clinics market is expected to experience significant growth over the forecast period, driven by various factors such as the increased need for effective diagnosis and control of animal illnesses, the introduction of innovative diagnostic procedures and equipment, and the rising use of in-house diagnostic testing equipment. The report identifies the consumables segment and veterinary clinics segment as the biggest revenue drivers in the market, and North America as the region with the biggest revenue share.

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