The Business Research Company’s Veterinary Diagnostic Equipment Global Market Report 2020-30: Covid 19 Impact and Recovery. The report covers market size, key players, market share and trends to 2030.
Veterinary Diagnostic Equipment Global Market Report 2020-30: Covid 19 Impact and Recovery is one of a series of new reports from The Business Research Company that provide Veterinary Diagnostic Equipment market overviews, analyze and forecast market size and growth for the whole market, Veterinary Diagnostic Equipment market segments and geographies, Veterinary Diagnostic Equipment market trends, Veterinary Diagnostic Equipment market geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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The veterinary diagnostic equipment market consists of sales of veterinary diagnostic equipment and related services. Veterinary diagnostic equipment assists the veterinary practitioners in determining and identifying various disorders in animals. Veterinary diagnostic equipment industry includes companies that manufacture diagnostic equipment such as clinical thermometers, diagnostic lights, X-ray equipment, and certain diagnostic test kits.
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The global veterinary diagnostic equipment market is expected to decline from $1 billion in 2019 to $0.8 billion in 2020 at a compound annual growth rate (CAGR) of -18%. The decline is mainly because of worldwide supply and demand mismatches of resources due to the COVID-19 outbreak. There is an inadequate production of veterinary medical equipment due to the restrictions imposed by governments of various countries to shutdown factories or function with minimal staffing to contain the spread of virus and keep the staff safe. The market is then expected to recover and grow at a CAGR of 6.8% from 2021 and reach $1.2 billion in 2023.
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