Optiscan says its innovative device was designed specifically for animals and is suitable for use in a clinic or out in the field, due to its compact, durable and rugged design. Its ability to provide rapid insights is expected to help vets make quicker diagnostic and treatment decisions.
The company believes InSpecta has tremendous potential to expand its use across all categories of veterinary care, and emphasised the benefits it may deliver to the equine sector and overall animal care.
The company will now work to navigate the regulatory steps required for a commercial release, and will refine its commercial plans for the product during the rest of the year.
According to industry research house IBISWorld, the US veterinary services industry generated $67.6 billion (A$103.6B) in revenue in 2024 across veterinary care, pharmaceuticals and ancillary veterinary products. San Francisco-based Grand View Research, which estimated the US veterinary market was worth US$11.92B in 2022, tipped the industry would grow at an 8.7 per cent compound annual growth rate to 2030.
Given these numbers, Optiscanโs push into the lucrative veterinary industry may prove fruitful.
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