The veterinary diagnostics market size is projected to reach USD 9.5 billion by 2026, exhibiting a CAGR of 10.0% during the forecast period. Rising prevalence of zoonotic diseases such as swine flu and rabies is the main factor driving the growth of this market. Zoonotic diseases are those which humans contract from animals, birds or insects. They pose grave danger not only to the person infected, but also to other people who might come in close contact with him or her, laying the groundwork for an epidemic.
A study published by the Centers for Disease Control and Prevention (CDC) states that 75% of emerging infectious diseases affecting humans are zoonotic in origin. This was already witnessed during the recent Ebola outbreak and rapid spread of swine flu a few years earlier. Preventing the birth of such diseases is crucial for public health as they also cause huge economic losses. According to the WHO, zoonotic epidemics between 1997 and 2009 led to a loss of about USD 80 billion. Thus, veterinary diagnostic techniques are set to witness a surge in demand in the upcoming years.
Global Veterinary Diagnostics Market Scope:
|
Report Metric |
Details |
|
Study Period |
2015-2026 |
|
Base Year |
2018 |
|
Forecast Period |
2019-2026 |
|
Historical Period |
2015-2017 |
|
Unit |
Value (USD Billion) |
Report Highlights:
- Detailed Historical Overview
- Consumer and Pricing Analysis
- Market Dynamics of the Industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in Terms of Value
- Recent Market Trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage
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Europe to Display Impressive Growth; North America to Dominate the Scene
Rising prevalence in veterinary disorders, especially among pet dogs, and increasing pet ownership will put North America in the driver’s seat in terms of revenue. Growing investment in veterinary research will favor growth of the market in Europe during the forecast period. The market in Asia-Pacific will be primarily driven by rising pet population in India and China along with increasing livestock numbers. In Africa, Latin America, and the Middle East, availability of affordable medical equipment will bode well for the market.
Leading Players operating in the veterinary diagnostics market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- IDEXX
- Thermo Fisher Scientific Inc.
- Zoetis
- VCA Antech, Inc.
- DRE Veterinary
- Heska Corporation
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Virbac
- Randox Laboratories Ltd.
Randox Launches Canine CRP Test, Fans Competitive Spirits
Companies are heavily investing in developing and launching new products to gain competitive edge in this market. For example, in October 2019, Randox Laboratories launched its small-sized Canine CRP Test kit to diagnose viral and bacterial infections, detect disorders such as pancreatitis and cystitis, and pregnancy in dogs. Other players are focused on promoting and participating in research activities in this field. For instance, in October 2017, Thermo Fisher Scientific teamed up with the American Association of Veterinary Laboratory Diagnosticians to encourage research in veterinary diagnostics through financial grants.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Recent Industry Developments Such As Mergers & Acquisitions
- Prevalence of Key Veterinary Diseases, In Major Countries, 2018
- Pet Ownership Statistics by Key Countries, 2018
- Overview of Pet Insurance by Key Countries, 2018
- Technological Advancements In Veterinary Diagnostics Devices
- Key Industry Trends
- Global Veterinary Diagnostics Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Instruments
- Reagents & Consumables
- Market Analysis, Insights and Forecast – By Technique
- Hematology
- Immunohistochemistry
- Molecular Diagnostics
- Diagnostic Imaging
- Clinical Biochemistry
- Others
- Market Analysis, Insights and Forecast – By Animal Type
- Livestock
- Companion
- Market Analysis, Insights and Forecast – ByEnd User
- Veterinary Hospitals & Clinics
- Veterinary Reference Laboratories
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Veterinary Diagnostics Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis – By Product Type
- Instruments
- Reagents & Consumables
- Market Analysis – By Technique
- Hematology
- Immunohistochemistry
- Molecular Diagnostics
- Diagnostic Imaging
- Clinical Biochemistry
- Others
- Market Analysis – By Animal Type
- Livestock
- Companion
- Market Analysis – By End User
- Veterinary Hospitals & Clinics
- Veterinary Reference Laboratories
- Others
- Market Analysis – By Country
- S.
- Canada
TOC Continued…!
Report Focus:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential veterinary diagnostics market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
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Reasons to Purchase this Report:
- Comprehensive analysis of the veterinary diagnostics market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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