Animal medicine is a particularly hot market in recent years. Compared with human IVDs, the threshold for product registration for animals is lower and the business model is more flexible. In terms of pet infectious disease detection technology, molecular diagnostic nucleic acid detection methods are also highly sensitive and specific. This can shorten the window period of infectious disease detection to the greatest extent.
Data show that the global animal hospital and veterinary clinic market is expected to grow from $77.48 billion in 2020 to $89.38 billion in 2021. The compound annual growth rate is 15.4% . This market is expected to reach $110 billion by 2025, growing at a CAGR of 5.3%.
Currently, pet medical devices are subject to high industry barriers and weak R&D production capacity, accounting for the smallest share in the pet market. But on the other hand, the pet medical device market has less competitive pressure and is more likely to be favored by capital.
At present, pet medical devices are mainly focused on medical imaging, in vitro diagnostics two major directions. And most of them are based on the principle of human equipment to be modified and extended to the pet field. Among them, imaging devices are mainly B ultrasound, DR, nuclear magnetic, CT and other equipment. In vitro diagnostic devices include testing reagents, blood analyzers, biochemical analyzers, endocrine analyzers, ophthalmic microscopes, endoscopes and other equipment.
Seamaty has been in the field of veterinary devices for many years and has released several veterinary medical devices. Seamaty has released several veterinary medical devices, including SMT-120V biochemical analyzer and other ultrasound medical devices.
