Market Overview :
The veterinary diagnostics market is expected to reach USD 4.00 billion by 2023 from USD 2.63 billion in 2018, at a CAGR of 8.8%.
Factors such as growing companion animal population, growing prevalence of animal zoonotic diseases, rising demand for animal-derived food products, rising demand for pet insurance & growing animal health expenditure, and the increasing number of veterinary practitioners and income levels in developed economies are expected to drive the growth of the veterinary diagnostics market. However, the increasing pet care costs may restrain the growth of the market.
Market By geography
The APAC region is projected to grow at the highest CAGR during the forecast period. Factors such as the rapidly increasing animal population, growing adoption of veterinary diagnostic products, and rising demand for animal-derived food products are driving the growth of this regional market.
Key Market Players
IDEXX Laboratories (US), Abaxis (US), Zoetis (US), QIAGEN N.V. (Netherlands), Thermo Fisher Scientific (US)
Recent Developments
- In January 2018, IDEXX launched its IDEXX catalyst SDMA test to analyze kidney function in companion animals.
- InApril 2018, Randox Laboratories launched the product Vivalytic in the Molecular Diagnostics Analyzer Segment
- InApril 2018, Zoetis established sustainable veterinary diagnostic networks and animal health infrastructure in Uganda, Nigeria, and Ethiopia. This initiative is funded by a USD 14.4 million grant from the Bill & Melinda Gates Foundation. This will help the company to improve livestock health and positively impact farmers’ livelihoods as well as to increase its business in sub-Saharan Africa.
- In August 2015, Zoetis established a manufacturing facility in Lincoln, US, to increase the production of animal health products and offer a wide range of animal health products to veterinarians, livestock producers, and pet owners.
According to the latest report published by “Data Bridge Market Research”, the Veterinary Diagnostics Market is anticipated to grow at a steady pace over the forecast period 2019 – 2026.
The report sheds light on the various trends and restraining factors that are expected to shape the growth of the Veterinary Diagnostics in the upcoming years.
The report ponders over the various parameters that are expected to impact revenue generation, sales, and demand for the Fresh Compressed Yeast in the various regional markets.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.Get Exclusive Sample Report: @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-veterinary-diagnostics-marketMarket Definition: Global Veterinary Diagnostics MarketVeterinary diagnostics refers to the test which determines the various disorders related to 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 treatmentTop Manufacturers Covered in the Report: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.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.Make an Inquiry for Discount On this Report @ https://www.databridgemarketresearch.com/inquire-before-buying/?dbmr=global-veterinary-diagnostics-marketMarket DriversThe companion animal population has surged which is driving the growth of the marketThe rising prevalence of animal zoonotic diseases is propelling the growth of the marketSurging demand for animal-derived food products is fueling the growth of the marketIncreasing demand for pet insurance and growing animal health expenditure is boosting the growth of the marketThe number of veterinary practitioners and income levels have increased in the developed economies is contributing to the growth of the marketKey Developments in the Market:In June 2018, Pathway Vet Alliance has entered into a strategic partnership with Heska Corporation.
Data Bridge Market Research has provides the Qualitative and informative knowledge by adding titled “Veterinary Diagnostics Market by By Product (Instruments, Consumables), Technology (Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Hematology, Urinalysis, Others), Animal Type (Companion Animals, Livestock Animals), End User (Reference Laboratories, Veterinary Hospitals and Clinics, Point-of-Care/In-House Testing, Research Institutes & Universities), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) Analysis and Forecast, 2019 – 2026”.
The Veterinary Diagnostics Market report additionally states import/trade utilization, free market activity figures, cost, value, volume and gross edges.
Few of the leading organizations’ names are listed here- 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 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.Grab Sample Report + All Related Tables & Charts of Global Veterinary Diagnostics Market Study Now @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-veterinary-diagnostics-marketMarket Definition: Global Veterinary Diagnostics Market Veterinary diagnostics refers to the test which determines the various disorders related to 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 Segmentation: Global Veterinary Diagnostics MarketGlobal Veterinary Diagnostics Market By Product (Instruments, Consumables), Technology (Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Hematology, Urinalysis, Others)Animal Type (Companion Animals, Livestock Animals)End User (Reference Laboratories, Veterinary Hospitals and Clinics, Point-of-Care/In-House Testing, Research Institutes & Universities)Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) Top Manufacturers Covered in the Report: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.
Competitive Analysis: Global 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.
Thus, their health is a top priority for their owners and who ensure the availability of veterinary POC care to them.
Also, pet owners tested positive for influenza A and methicillin-resistant Staphylococcus aureus are also detrimental to their pets' overall wellbeing.
Market Research Future (MRFR) assessed the global veterinary POC diagnostics market 2021 for the analysis period till 2027.
Subsequently, the results are communicated to veterinarians.
Early diagnosis is pivotal in making critical clinical decisions, impacting the adoption of Point-Of-Care (POC) devices.
The growing preference for veterinary POC diagnostics can prompt the market upsurge in the upcoming years.The application of POC testing devices in veterinary practice is not new.
