Veterinary Infectious Disease Diagnostics Market, by Product Type (Immunodiagnostics, Molecular Diagnostics, and Others) and Application (Dogs, Cats, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026

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The global veterinary infectious disease diagnostics market was valued at $1,271 million in 2018, and is expected to reach $2,404 million by 2026, registering a CAGR of 8.3% from 2019 to 2026. 

Infectious diseases in animals can lead to fatalities if left untreated for long period. Therefore, early diagnosis plays a major role in treatment of animals suffering from these diseases. Furthermore, procedures and tests which are performed to detect the presence of infectious disease is called veterinary diagnosis. In addition, products used in these tests and procedures are called as veterinary infectious disease diagnostics. These diagnostics aid in detection of various infectious disease in animals such as infections caused by viruses, bacteria, and parasites. Moreover, diagnostics can be used in detection of infectious diseases in animals such as cats and dogs 

Rise in ownership of companion animals and surge in animal health expenditure are the major factors that boost the growth of the global veterinary infectious disease diagnostics market. For instance, diagnosis of animal ailments require a considerable amount of funds. Number of consumers who are willing to spend more and are seeking for such services has increased. In addition, increase in prevalence of various infectious diseases among companion animals significantly drives the growth of the veterinary infectious disease diagnostics market. However, lack of awareness related to the use of veterinary infectious disease diagnostics in underdeveloped countries restricts the veterinary infectious disease diagnostics market growth. On the contrary, surge in awareness related to animal healthcare across the globe is expected to offer remunerative opportunities for market expansion during the forecast period.

Veterinary Infectious Disease Diagnostics Market Segmentation  

The global veterinary infectious disease diagnostics market size is studied on the basis of product type, application, and region. On the basis of product type, it is segmented into immunodiagnostics, molecular diagnostics, and others. By application, it is classified into dogs, cats, and others. By region, it is analyzed across North America (the U.S, Canada, and Mexico) and Europe (Germany, France, Italy, the UK and rest of Europe), Asia-Pacific (Japan, China, India, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Segment Review

By product type, the immunodiagnostics segment acquired the largest share of the veterinary infectious diseases market in 2018. Furthermore, the segment is expected to grow at the fastest rate during the forecast period due to factors such as surge in the prevalence of infectious diseases in animals. Furthermore, other factor that contribute to the growth of the market include rise in animal healthcare expenditure. In addition, benefits associated with the use of these tests is another factor that fuels the growth of the veterinary infectious disease diagnostics market. For instance, lateral flow assays provide rapid results and sensitive & accurate diagnosis, which makes them a preferred choice. In addition, other benefits include low sample volume, low cost, and user-friendly operation. Therefore, aforementioned factors contribute to the growth of veterinary infectious disease diagnostics market. 

By application, the dogs segment acquired the major share of the global veterinary infectious disease diagnostics market and is expected to exhibit the fastest growth rate during the forecast period, owing to surge in ownership of dogs as companion animals worldwide. Furthermore, surge in awareness related to dog health among their owners is another major factor that augments the growth of this segment. 

On the basis of region, North America acquired a major share, owing to easy availability of veterinary infectious disease diagnostic products in the region, surge in pet ownership, and increase in animal healthcare expenditure. The other major factor that contributes toward the growth of this market include rise in incidences of various diseases related to animals. However, Europe is expected to grow at the highest rate during the forecast period, due to surge in awareness related to animal health among owners. In addition, presence of majority of key players in Europe boosts the growth of the market in this region. Some of the key players operating in the Europe veterinary infectious disease diagnostics market include Virbac., Randox Laboratories Ltd, ID.Vet, and Biomérieux SA. Therefore, this leads to easy availability of veterinary infectious disease diagnostics in the region, which fuels the growth of the market

The global veterinary infectious disease diagnostics market is highly competitive and the prominent players in the market have adopted various strategies for garnering maximum veterinary infectious disease diagnostics market share. These include collaboration, product type launch, partnership, and acquisition. Major players operating in the market include Biomérieux SA, HESKA Corporation, IDEXX Laboratories, Inc., ID.Vet, Neogen Corporation, Qiagen N.V., Randox Laboratories Ltd, Thermo Fisher Scientific Inc, Virbac, and Zoetis.

Key Benefits for Stakeholders:

• This report entails a detailed quantitative analysis along with the current global veterinary infectious disease diagnostics market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.
• The veterinary infectious disease diagnostics market forecast is studied from 2019 to 2026. 
• The market size and estimations are based on a comprehensive analysis of key developments in the veterinary infectious disease diagnostics industry. 
• A qualitative analysis based on innovative product types facilitates strategic business planning.
• The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market

 Key Market Segments & Key Market Players