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Veterinary Infectious Disease Diagnostics Market by Technology, Animal, Pathogen, Enduser - Forecast to 2024

Veterinary Infectious Disease Diagnostics Market by Technology, Animal, Pathogen, Enduser - Forecast to 2024

  • July 2019
  • 239 pages
  • ID: 5797009
  • Format: PDF
  • MarketsandMarkets

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The global veterinary infectious disease diagnostics market is projected to grow at a CAGR of 8.4% during the forecast period
Veterinary infectious disease diagnostics includes immunodiagnostic, molecular diagnostic, and other veterinary diagnostic technologies. Diagnosis is conducted using kits, reagents, consumables, and analyzers that determine the nature and cause of infectious disease and the disease condition in animals.

The global veterinary infectious disease diagnostics market is projected to reach USD 2.2 billion by 2024 from USD 1.4 billion in 2019, at a CAGR of 8.4% from 2019 to 2024.

Growing demand for advanced veterinary infectious disease diagnostic tools, increasing demand for animal-derived food products, growth in companion animal population, rising demand for pet insurance, increasing number of veterinary practitioners in developed economies, and rising disease control & disease prevention measures are some of the key factors driving the veterinary infectious disease diagnostics market. However, rising pet care costs, lack of animal healthcare awareness and shortage of veterinarians in emerging countries are expected to limit market growth to a certain extent.

The companion animal segment accounted for the largest share of the global veterinary infectious disease diagnostics market during the forecast period
Based on animal type, the veterinary infectious disease diagnostics market is segmented into food-producing animals and companion animals.In 2018, the companion animals segment commanded the larger share of the veterinary infectious disease diagnostics market.

The large share of this segment can be attributed to the increasing pet ownership (especially in developed countries), growing penetration of pet insurance, rising number of veterinary practitioners globally, and increasing animal disease control and disease prevention measures.

The immunodiagnostics segment accounted for the largest share of the veterinary infectious disease diagnostics market during the forecast period
Based on technology, the veterinary infectious disease diagnostics market is segmented into immunodiagnostics, molecular diagnostics, and other technologies.The immunodiagnostics segment accounted for the largest share of the veterinary infectious disease diagnostics market in 2018.

The higher preference for advanced infectious disease diagnostic products by veterinarians, animal farm owners, government institutions & organizations, pet owners, and laboratory technicians; growing demand for early & accurate diagnosis; increasing preference for in-house testing; and the rising applications of immunodiagnostics are supporting the growth of this application segment.

Europe accounted for the second-largest share of the global market in 2018
The veterinary infectious disease diagnostics market is segmented into five major regions, namely North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.Europe accounted for the second-largest share in 2018.

Factors such as increasing companion animal ownership, rise in animal disease outbreaks, a growing number of veterinary professionals, and government support to ensure good animal health are driving the market for veterinary infectious disease diagnostics in Europe.

Breakdown of supply-side primary interviews:
• By Company Type: Tier 1 (31%), Tier 2 (49%), and Tier 3 (20%)
• By Designation: C-level (28%), Director-level (19%), and Others (53%)
• By Region: North America (33%), Europe (31%), APAC (19%), and RoW (17%)

The major players operating in the veterinary infectious disease diagnostics market are IDEXX Laboratories, Inc. (US), Zoetis, Inc. (US), QIAGEN N.V. (Indical GmbH) (Germany), Thermo Fisher Scientific, Inc. (US), Neogen Corporation (US), Virbac (France), bioMérieux SA (France), IDVet (France), Randox Laboratories, Ltd. (UK), Heska Corporation (US), Creative Diagnostics (US), URIT Medical Electronic Group Co., Ltd (China), NTBIO Diagnostics, Inc. (Canada), Bio-X Diagnostics (Belgium), Agrolabo S.p.A (Italy), Eurolyser Diagnostica (Austria), Eurofins Technologies (Hungary), MEGACOR Diagnostik GmbH (Austria), AusDiagnostics Pty, Ltd. (Australia), Demedetic Diagnostics GmbH (Germany), Chembio Diagnostic Systems, Inc. (US), DRG Diagnostics GmbH (Germany), XpressBio (US), InBios International, Inc. (US), and Genesig (Primerdesign) (UK).

Research Coverage
This report studies the veterinary infectious disease diagnostics market based on technology, animal type, end-user, and region.The report also studies factors such as drivers, restraints, opportunities, and challenges affecting market growth.

It also provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro-markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions and the respective countries in these regions.

Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market shares of top players, and company profiles, which together form basic views.It also analyzes the competitive landscape; emerging segments of the veterinary infectious disease diagnostics market; and high-growth regions and their drivers, restraints, challenges, and opportunities.

The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.

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