The global veterinary diagnostics market is consolidated in nature with a large number of companies continuously trying to mark their presence. The market is led by IDEXX Laboratories, Inc. (U.S.), Abaxis, Inc. (U.S.), Neogen Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Heska Corporation (U.S.), Zoetis, Inc. (U.S.), QIAGEN N. V. (Netherlands), and Virbac (France).
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Complete report on Veterinary Diagnostics Market spread across 294 Pages, Profiling 10 Companies and Supported with 368 Tables and 36 Figures is now available at www.rnrmarketresearch.com/veterina…arket-report.html .
Global veterinary diagnostics market estimated to grow at a CAGR of 9.3% from 2017 to 2022 to reach USD 3.62 Billion by 2022. In this report, veterinary diagnostics market is segmented on basis of product, technology, animal type, end user, and region.
In 2016, North America commanded a major share of veterinary diagnostics market.
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- Veterinary diagnostics manufacturers and distributors
- Veterinary research and development (R&D) companies
- Veterinary reference laboratories
- Government associations
- Market research and consulting firms
- Venture capitalists and investors
Veterinary diagnostics market report by product, technology, animal type, end user, & region. On basis of product, global market segmented into consumables & instruments.
Consumables segment accounted for largest share in 2016. It is also expected to witness highest growth during forecast period.
Based on technology, market segmented into clinical biochemistry, immunodiagnostics, hematology, molecular diagnostics, urinalysis, & veterinary diagnostics.
Geographically, Veterinary diagnostics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to register highest growth during forecast period.
Growth in Asia-Pacific market can be attributed to rising animal population, increase in demand for animal-derived food products, growing per capita animal health expenditure, especially in India and China, and rising awareness regarding animal health & welfare.
Key Market Drivers
1 Growth in Companion Animal Population
2 Growing Prevalence of Animal Diseases
3 Rising Demand for Animal-Derived Food Products
4 Rising Demand for Pet Insurance Growing Animal Health Expenditure
5 Growth in Number of Veterinary Practitioners & Their Income Levels in Developed Economies
The global veterinary diagnostics market characterized by presence of a large number of players. Amidst intense market competition, major players are continuously focusing on achieving higher market shares through product launches and acquisitions in market.
Asia-Pacific region is expected to witness highest growth rate during forecast period.
Growth in the Asia-Pacific veterinary diagnostics market can be attributed to rising companion animal ownership, rising awareness about animal health, increase in demand for animal-derived food products, and growing per capita animal health expenditure. The report also covers the product portfolio analysis of the veterinary diagnostic products and vendor benchmarking of the top players in this market.
Factors driving growth veterinary diagnostics market include increasing animal population, rising demand for animal-derived food products, increasing incidence of zoonotic diseases, growing pet insurance purchases, rising animal health expenditure, & growth in number of veterinary practitioners & their income levels in developed economies. Based on end user, it is categorized into reference laboratories, veterinary hospitals & clinics, point-of-care/in-house testing, & academic institutes & universities.
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