Global veterinary diagnostics market is registering a substantial CAGR of 8.76% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market can be attributed due to factors such as increasing awareness about animal healthcare, and increase in the number of veterinary practitioners drives the market growth.
Few of the major market competitors currently working in the global veterinary diagnostics market are IDEXX, Abaxis, NEOGEN CORPORATION, bioMérieux SA, Randox Laboratories Ltd., QIAGEN, Thermo Fisher Scientific, Heska Corporation, Zoetis, Covetrus, IDvet, Pfizer Inc., Bio-Rad Laboratories Inc., Virbac, Mindray DS USA Inc., VCA Inc., URIT MEDICAL ELECTRONIC CO. LTD., BPC Biosed srl, HORIBA Ltd., FUJIFILM Corporation, Alvedia and ACON Laboratories Inc. among others.
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All the market data covered in this Veterinary Diagnostics business report in the long run aids in defining superior business strategies. The information and analysis of this market report brings into light the types of consumers, their preferences about the product, their buying intentions and their ideas about an enhancement of a product. Furthermore, businesses can make out the response of the consumers to an already existing product in the market. Report also enables to get aware of the extent of the marketing problems. Veterinary Diagnostics market research report conducts the systematic, to the point and far-reaching study of the facts associated with any subject in the field of marketing.
Market Definition: Global Veterinary Diagnostics Market
Veterinary diagnostics refers to the test which determines the various disorders related to animals. These tests are done by taking feces, blood and tissue samples of animals. The innovations in the medical field which had been developed for veterinary diagnostics help determine the cause of the disease, so that proper treatment methods can be utilized for its treatment. The methods used in veterinary diagnostics are immunodiagnostics, molecular testing, hematology and clinical chemistry.
Veterinary Diagnostics Market Drivers
- The companion animal population has surged which is driving the growth of the market
- The rising prevalence of animal zoonotic diseases is propelling the growth of the market
- Surging demand for animal-derived food products is fueling the growth of the market
- Increasing demand for pet insurance and growing animal health expenditure is boosting the growth of the market
- The number of veterinary practitioners and income levels have increased in the developed economies is contributing to the growth of the market
Segmentation: Global Veterinary Diagnostics Market
Veterinary Diagnostics Market : By Product
Veterinary Diagnostics Market : By Technology
- Clinical Biochemistry
- Molecular Diagnostics
Veterinary Diagnostics Market : By Animal Type
- Companion Animals
- Livestock Animals
Veterinary Diagnostics Market : By End Users
- Reference Laboratories
- Veterinary Hospitals and Clinics
- Point-of-Care/In-House Testing
- Research Institutes and Universities
Veterinary Diagnostics Market : By Geography
- North America
- South America
- Middle East and Africa
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Key Developments in the Veterinary Diagnostics Market:
- In June 2018, Pathway Vet Alliance has entered into a strategic partnership with Heska Corporation. It will enable the company to provide in-house operational services like a point of care blood diagnostics and allergy testing. This alliance will strengthen the company in terms of accuracy, precision, speed and ease to use.
- In May 2018, Zoetis has announced that it has acquired Abaxis which has enhanced the company’s market share in veterinary diagnostics. The acquisition will enable the company to accelerate the sales of its product in more than 100 countries which will increase the revenue of the company.
Veterinary Diagnostics Market : Competitive Analysis
Veterinary diagnostics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares veterinary diagnostics market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
- The report offers Veterinary Diagnostics Market share appraisals for regional and global levels
- To gain detailed overview of parent market
- Information about key drivers, restraints, opportunities, and their impact analysis on the Veterinary Diagnostics Market size has been provided.
- The study provides an in-depth analysis of the global Veterinary Diagnostics Market and current & future trends to elucidate imminent investment pockets.
- Identify growth segments and opportunities in the industry
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