Vet Diagnostics Market to Grow to $4B Due to the Pandemic

Vet Diagnostics Market to Grow to $4B Due to the Pandemic
Image by Tumisu from Pixabay

The prediction that the veterinary diagnostics market will grow up to, and possibly surpass, $4 billion was made by LexaGene Holdings Inc. CEO and founder Dr. Jack Regan recently. 

As the pandemic took over and everyone had to self-isolate at home, many people became depressed. Although it was a necessary public health measure, the anxiety it caused made people realize they needed something to help them cope. 

So, they began adopting pets.

Adoptions have increased dramatically in the recent year, resulting in a rapidly expanding world of pet owners. While many owners had good intentions, some were probably unaware of all the expenses of having pets.

Did you know that the first year of owning a pet can cost more than $1,000? Without taking the time to do proper research and planning, many could end up in financial trouble.

Fortunately, the innovative companies below have created ground-breaking new products and services to help improve pet care and reduce the cost of it:

  • LexaGene Holdings Inc. 
  • Chewy Inc.
  • Zomedica Pharmaceuticals 
  • Elanco Animal Health
  • Petco Health and Wellness 

LexaGene’s MiQLab is a molecular diagnostic system for pathogen detection. Veterinarians use it to test for numerous diseases on-site and receive results in two hours. Without it, they would need to go to a different testing facility and wait for results, which might take days.

Chewy is a well-known online retailer of pet supplies that has about 19.2 million clients. By taking advantage of their Autoship option, pet owners can save 5% on future purchases. Chewy also offers a video consultation service called “Connect with a Vet.” 

Plus, Chewy makes it easy to save with many coupons and regular deals.

Zomedica Pharmaceuticals is a company that develops medications for animals. TRUFORMA, Zomedica’s veterinary diagnostics tool, will allow veterinarians to improve the standard of treatment for all animals while saving and enhancing their lives in the process.

Elanco Animal Health came up with Credelio Cat, the first oral flea and tick treatment for cats that starts killing fleas after only six hours. Elanco is also responsible for several preventative treatments, pain management solutions, vaccines, and much more. 

Petco Health and Wellness is a leading brand that recently launched a new project called Petco Whole Health. It focuses on the pets’ physical and mental well-being. It also promotes a safe home environment and access to affordable care.

Americans spent around $99 billion on their pets in 2020, but taking care of your pet doesn’t mean you have to break the bank. Times are changing, and many companies are coming up with innovative ways to benefit us, our pets, and our wallets.

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