Veterinary Diagnostics Market

Veterinary diagnostics are noninvasive methods used to identify and examine the causes of diseases in animals. Various new technologies from human diagnostics segments are being adapted for the veterinary domain. This trend is expected to continue in the future, thereby contributing to the growth of this market.The increasing number of disease outbreaks in animals and zootonic diseases arising in humans are driving the growth of this market. Additionally, the increasing number of food producing animals and companion animals are also boosting market growth. However, the growing inclination towards a vegetarian diet and economic uncertainty are major challenges faced by this market.

Growing awareness in emerging economies about animal health and the need to prevent antimicrobial-resistant bacteria are key opportunities for the veterinary diagnostics market. The companies profiled in this report are ABAXIS, Inc., IDEXX Laboratories, Inc., IDVET, HESKA Corporation, Neogen Corporation, Thermo Fisher Scientific Inc. (Life Technologies Corporation) 271, VCA Antech, Inc., Virbac SA, Zoetis, Inc. and Mindray Medical International Ltd.

The global veterinary diagnostics market is segmented on the basis of products, applications, animals and geography. In terms of products the market is segmented into hematology, immunodiagnostics,clinical chemistry and molecular testing (including nucleic acid testing).A few other methods are enzyme linked immunosorbent assay (ELISA),indirect fluorescent antibody test (IFAT), lateral flow tests, agglutination, complement fixation, chain reaction (PCR), western blot, polymerase and microarrays/biochips. Clinical chemistry holds the largest share in the market due to the increasing number of applications of various clinical assays in veterinary diagnostics. 

The animal market is segmented into food producing animal and companion animal. The application market is segmented into hospitals and clinics, reference laboratories, universities/research centers and point-of- care. On the basis of geography the market is segmented into various regions,namely, North America, Europe, Asia Pacific and LAMEA. North America dominates the global veterinary diagnostics market and is followed by the European region. The Asia-pacific region is expected to grow at the fastest rate due to the rise in per-capita income and growing awareness among pet owners about the animal’s health.

KEY BENEFITS

• Analyses of the factors that limit and drive the growth of the market are provided
• In-depth analysis of various geographies would give an understanding of the trends in various regions so that companies can make region specific plans
• Deep dive analyses of segments such as products, application and animals will provide insights that would enable companies to gain competitive edge
• Porter’s Five Force and other models would help in productive business decisions
• On-the-whole market analysis would assist in understanding the scope of investing and assessing growth opportunities in this market

 Veterinary Diagnostics Market Report Highlights