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Veterinary Diagnostics Market by Product (Instruments and Consumables), Technology (Clinical Biochemistry, Urinalysis, Immunodiagnostics, Hematology, and Molecular Diagnostics), Animal Type and End User - Global Forecast to 2022

Veterinary Diagnostics Market: Global Forecast until 2022

  • April 2017
  • 296 pages
  • ID: 4837047
In this report:
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Summary

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The overall veterinary diagnostics market is forecasted to grow at a compound annual growth rate (CAGR) of 9.30 percent between 2017 and 2022, to attain ~$3.6B by 2022 from ~$2.3B in 2017.

The increase of this market is essentially attributed to growing demand for animal-derived food products, increasing demand for pet insurance, increasing animal health expenditure, growing incidence of zoonotic diseases, rising awareness about animal healthcare, and growth in the number of veterinary practitioners and their increasing income levels. Untapped emerging economies including China and India (IN) offer significant increase opportunities. On the other hand, growing pet care costs may hinder the increase of this market to a certain extent.

In this market report, the veterinary diagnostics market is split on the basis of product, technology, animal type, final user, and area. Established on product, the sector is divided into consumables and instruments. The consumables segment recorded for the biggest share of the overall market in 2016. The important share of this segment is essentially attributed to the growing adoption of diagnostic consumables including reagent clips and cartridges, immunodiagnostic test kits, PCR test kits, blood glucose strips, urine glucose strips, and other consumables.

Geographically, the overall market is divided into north america, Europe (EU), Asia-Pac, Latin America area, and the Middle East (ME) & African continent. In 2016, North America continent commanded a main share of the veterinary diagnostics market. This is primarily due to the rising adoption of companion animals, increasing pet insurance purchases, growing demand for animal-derived food products, and increasing veterinary healthcare expenditure in the territory. Nevertheless, Asia Pacific (APAC) is projected to register the more important rise during the outlook period. Increase in the APAC market can be accredited to growing companion animal ownership, increasing awareness about animal health, rise in demand for animal-derived food products, and increasing per capita animal health expenditure.

Some of the prominent actors in the veterinary diagnostics market contain IDEXX Laboratories, Incorporated, Abaxis, Incorporated, Neogen Corporation, Heska Corporation, Thermo Fisher Scientific (NYSE:TMO), Zoetis, Incorporated, Qiagen NV (NASDAQ:QGEN), IDVet, and Virbac.

Segment Research

This business report includes drivers, market restraints, alternatives, opportunities, and market trends. The market research also includes the product portfolio review of the veterinary diagnostic products and vendor benchmarking of the top actors in this sector. Additionally, this industry report highlights the increase strategies approved by the main market players to collect big shares in the veterinary diagnostics market.

Why Purchasing This Study Can Help You:

The industry report will increase both established firms as well as new entrants/smaller companies to measure the pulse of the sector, which in turn help companies in garnering a greater share. Companies obtaining the study could use any one or an aggregation of the below-mentioned five strategies (sector entry, product improvement/innovative projects, sector development, business diversification, and opposing assessment) for rising their market shares.

This study furnishes highlights on the following points:

- Business entry: Exhaustive information on the product types provided by the top actors in the veterinary diagnostics market. The market research examines the veterinary diagnostics market by product, technology, animal type, end-user, and area

- Product improvement/Innovative products: In-depth understanding on the next trends, Research&development activities, and launches of new product in the veterinary diagnostics market

- Industry development: Highlighted information about profitable emerging sectors by product and area

- Industry diversification: Complete information about recent products, increasing geographies, recent evolutions, and market investments in the veterinary diagnostics market

- Opposing assessment: Detailed assessment of market shares, increase strategies, products, and manufacturing competences of key players in the veterinary diagnostics market

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