According to the report Global Veterinary Diagnostics Market, published by Market Data Forecast, the global market is projected to reach USD 6178.34 Million by 2021, at a CAGR of 8.6% from 2016 to 2021.
Diagnostics provide tools for effective and rapid testing to undertake preventative or remedial measures for the health of the animal population. For instance, lateral flow and other rapid tests are used in veterinary medicine to test commercial livestock (large animals – cows, poultry, sheep, pigs, etc.) and household pets (cats, dogs, etc.) to test for the presence of a variety of medical conditions caused by bacteria, viruses, allergies, and fertility issues. Food animal diagnostics assist in livestock and production animal preventive care and complement other measures such as vaccination and selective breeding.
The Global Veterinary Diagnostics Industry has seen an exemplary shift in the past few years with the emergence of new and technologically advanced products, which had an optimistic impact on the overall growth of the market. Veterinary diagnostic products are as complex as they are difficult to manufacture. Many of the rapid assay, poultry and livestock diagnostic products are biologic products which demand materials from living organisms. Because of this reason, during economic recession, United States faced a decline in consumer spending on pets, which affected the veterinary diagnostics market. Market development for companion animal diagnostic has depended heavily upon the purchasing and usage of in-clinic analysers or diagnostic instruments used at veterinary practices.
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Global Veterinary Diagnostics Market: Drivers & Restraints
Increase in purchase and usage of various diagnostic instruments that are utilized in veterinary practices, in-clinic diagnostic procedures, high income households that keep pets and regularly visit veterinary laboratories are propelling the growth of this market. However, increasing adoption of vegetarian food due to changing food habits, the economic downturn, the increasing risk of obesity, exposure to global cuisines, and other diseases are some of the factors affecting the growth.
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Global Veterinary Diagnostics Market: Segmentation
- Clinical Chemistry
- Urine Analysis
- Glucose Monitoring
- Blood Gas Electrolyte Analysis
- Molecular Diagnostics
- Micro Arrays
- PCR Tests
- Other Molecular Diagnostics Tests
- Haemotology Analysers
- Haemotology Catridges
- Diagnostic Imaging
- Radiography Systems
- Ultrasound Imaging Systems
- CT Scanners
- MRI Scanners
- Immunoassay Analysers
- ELISA Tests
- Lateral-Flow Strip Readers
- Lateral-Flow Rapid Tests
- Allergen specific Immunodiagnostic Tests
- Companion Animals
- Canine Diagnostics
- Feline Diagnostics
- Other Veterinary Diagnostics
- Food-Producing Animals
- Bovine Diagnostics
- Porcine Diagnostics
- Ovine Diagnostics
- Poultry Diagnostics
- Piscine Diagnostics
From simple data collation through secondary and primary research to ad-hoc research requests relating to specific information, we provide our services via customization. Get customization at http://www.marketdataforecast.com/market-reports/global-veterinary-diagnostics-market-85/customize-report
Global Veterinary Diagnostics Market: Overview
Global market for Immunodiagnostics is expected to grow at a higher CAGR due to the increase in the number of foodborne diseases affecting the animals and the need to perform various tests has increased gradually. In turn, the market for Molecular diagnostics is expected to grow at a higher than that of Immunodiagnostics due to the wide scope it provides over the likes of immunodiagnostics.
In 2013, North America was the major leader with nearly 45% share of the global market, followed by Europe with nearly 30% share. Increasing companion animal population, coupled with the positive trend towards animal health spending, has led to the large market share of the North American and European veterinary diagnostics market. The Asia-Pacific region represents the highest growth opportunity for the veterinary diagnostics market during the forecast period of 2013 to 2018.
Global Veterinary Diagnostics Market: Region-wise Outlook
Based on geography the market is analysed under various regions, namely North America, Europe, Asia-Pacific, Latin America & Middle East & Africa. The North American market dictates the global veterinary diagnostics market with the largest market share, followed by the European market. The Latin American and Asia-Pacific markets are expected to be the most worthwhile market in terms of growth rate.
Key Questions Answered
- What is the current and future Global Veterinary Diagnostics Market outlook in global? What trends are affecting the global market?
- What is the competitive landscape and market share of major players in the Global Veterinary Diagnostics space globally?
- What are the analysis of the macro and micro factors that affect the Global Orthopedic Devices Market on both global and regional scales?
- What are the key, high growth markets that Global Veterinary Diagnostics manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Global Veterinary Diagnostics currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Veterinary Diagnostics Market ?
- What are the challenges and barriers that have hindered widespread adoption of Global Veterinary Diagnostics Market?
- What are the key sustainability strategies adopted by market players ?
Global Veterinary Diagnostics Market: Key Players
Some of the key participating global players in global Veterinary Diagnostics Market are VCA Inc., Heska Corporation, Abaxis, Inc., VIRBAC, IDEXX Laboratories, Inc., Life Technologies Corporation, Bio-Rad Laboratories Inc., Prionics AG, and Pfizer, Inc. In this, Thermo Fisher Scientific Inc. (U.S.), and Heska Corporation (U.S.) together holds the major share of the veterinary diagnostics market and will continue to dominate the market between 2017 and 2022.
Reasons to buy Veterinary Diagnostics Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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