Global Veterinary Diagnostics Market Statistics, Development and Growth 2017 to 2023
Summary – A New Market Study, “Veterinary
Diagnostics Market: Global Market Estimation, Dynamics, Regional Share, Trends,
Competitor Analysis 2012 to 2016 and Forecast 2017 to 2023” Has Been Featured On Wiseguyreports.
Global Veterinary Diagnostics Market
Global
veterinary diagnostics market is projected to expand at a significant CAGR over
the forecast timeline.
Companion
animals such as cats, dogs, horses have to play an important part in the lives
of many people. The animals provide companionship, demand care and attention
and respond with affection. Increasing various zoonotic diseases, rapid
expansion of swine flu, bird flu is expected to create potential opportunities
for the animal diagnostics market.
Increasing
adoption of advanced technologies to diagnose the diseases enables create
demand for veterinary diagnostics market over the forecast period. Moreover,
increased demand for meat and dairy products are expected to attract the demand
for veterinary diagnostics. Rising demand for minimally invasive diagnostic
methods coupled with availability of novel products expected to fuel the market
revenue for veterinary diagnostics devices over the forecast period. Surge in
the companion animal adoption coupled with rising disposable income expected to
boost the veterinary vaccines market. However, stringent regulations such as
prohibit the veterinary OTC medicine, higher cost of the products are expected
to acts as major road blocks for the market revenue growth over the forecast
period.
Veterinary
Diagnostics Devices Market has been segmented on the basis of product type,
application, and end user
Based on the
product type, Veterinary Diagnostics devices market has been segmented into the
following:
Hematology
tests
Immunodiagnostics
Clinical
chemistry
Molecular
testing.
Based on
animal type, veterinary diagnostics market has been segmented into the
following:
Canine
Feline
Bovine
Poultry
Poultry ELISA
Poultry PCR
Swine
Swine ELISA
Swine PCR
Others
Based on end
users, veterinary diagnostics devices market has been segmented into the
following:
Veterinary
Hospitals
Veterinary
Clinics
Research
laboratories
veterinary
diagnostics devices market is consolidated with few players controlling by far
the majority market share. The veterinary healthcare market is experiencing
considerable mergers and acquisitions. Development of novel technologies and
expanded applications to the veterinary healthcare is expected to fuel market
demand over forecast period. Large number of mergers in animal healthcare had
undertaken, such as Pfizer, Merck, Sanofi. Merial is formed in 1997 as a joint
venture of Ssanofi’s Rhone Merieux and Merck’s MSD AgVet. Elanco entered the
companion animal segment strongly in the USA in 2007 and expanded geographical
foot prints outside the U.S. with acquisition of Janssen in 2011.
In order to
maintain leverage, companies are spending robust R&D is able to offer
innovative products to the market.
Geographically
market has been segmented into following regions Viz. North America, Europe,
Asia-Pacific, Latin America, and Middle East & Africa.
U.S.
veterinary diagnostics market is expected to account for major regional revenue
share over the forecast period due to increased awareness coupled with rising
pet adoption. As per statistics, 62% of U.S. households adopted a companion
animal. Increasing spending on companion animals are also expected to boost the
market. France, Germany, UK are expected to offer lucrative opportunities for
Europe veterinary diagnostics market. Increase applications of molecular and
serological diagnostics in veterinary parasitology are expected to create
demand for veterinary diagnostics market. Emerging nations in Asia pacific such
as China, India are expected to contribute significant revenue for global
veterinary diagnostics devices market. Many other countries are witnessing very
high rates of companion animal ownership, including emerging markets such as
China, Brazil, India, Mexico, and Russia. Continuous increase in the spending
on companion animals is majorly drives market growth.
Global
veterinary diagnostics devices market dominated by key players such as Mindray
Medical International Ltd., ABAXIS, Inc., Biocheck smart veterinary
diagnostics, Zoetis, Inc., Neogen Corporation, Bio rad veterianry diagnostics,
HESKA Corporation, IDVET, Biomerieux veterinary diagnostics, IDEXX
Laboratories, Inc., Thermo Fisher Scientific Inc. (Life Technologies
Corporation), VCA Antech, Inc., Virbac SA, Cal biotech.
In April
2017, BioCheck has launched two new PCR test kits. These are new castle disease
virus multiplex RNA test kit, and multispecies campylobacter multiplex DNA test
kit.
For More Details : https://www.wiseguyreports.com/reports/2753950-veterinary-diagnostics-market-global-market-estimation-dynamics-regional-share-trends
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