Market Analysis: Global Veterinary Diagnostics Market

Veterinary diagnostics market is registering a substantial CAGR of 8.76% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market can be attributed due to factors such as increasing awareness about animal healthcare, and increase in the number of veterinary practitioners drives the market growth.

Market Definition: Global Veterinary Diagnostics Market

Veterinary diagnostics refers to the test which determines the various disorders related to animals. These tests are done by taking feces, blood and tissue samples of animals. The innovations in the medical field which had been developed for veterinary diagnostics help determine the cause of the disease, so that proper treatment methods can be utilized for its treatment. The methods used in veterinary diagnostics are immunodiagnostics, molecular testing, hematology and clinical chemistry.

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Market Drivers

• The companion animal population has surged which is driving the growth of the market
• The rising prevalence of animal zoonotic diseases is propelling the growth of the market
• Surging demand for animal-derived food products is fueling the growth of the market
• Increasing demand for pet insurance and growing animal health expenditure is boosting the growth of the market
• The number of veterinary practitioners and income levels have increased in the developed economies is contributing to the growth of the market

Market Restraints

• The surging pet care costs is restraining the growth of the market
• The substandard healthcare facilities in low- and middle-income countries is hampering the growth of the market

Segmentation: Global Veterinary Diagnostics Market

By Product

• Instruments
• Consumables

By Technology

• Immunodiagnostics
  • Lateral Flow Assays
    • Lateral Flow Rapid Tests
    • Lateral Flow Strip Readers
  • Elisa Tests
  • Allergen-Specific Immunodiagnostic Tests
  • Immunoassays Analyzers
• Clinical Biochemistry
  • Clinical Chemistry Analysis
    • Clinical Chemistry Reagent Clips and Cartridges
  • Glucose Monitoring
    • Blood Glucose Strips
    • Glucose Monitors
    • Urine Glucose Strips
  • Blood Gas & Electrolyte Analysis
    • Blood Gas and Electrolyte Reagent Clips and Cartridges
    • Blood Gas and Electrolyte Analyzers
• Molecular Diagnostics
  • Polymerase Chain Reaction (PCR) Tests
  • Microarrays
• Hematology
  • Hematology Cartridges
  • Hematology Analyzers
• Urinalysis
  • Urinalysis Clips & Cartridges/Panels
  • Urine Analyzers
  • Urine Test Strips
• Others

By Animal Type

• Companion Animals
  • Dogs
  • Cats
  • Horses
  • Others
• Livestock Animals
  • Cattle
  • Pigs
  • Poultry
  • Others

By End Users

• Reference Laboratories
• Veterinary Hospitals and Clinics
• Point-of-Care/In-House Testing
• Research Institutes and Universities

By Geography

• North America
  • U.S.
  • Canada
  • Mexico
• South America
  • Brazil
  • Rest of South America
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Turkey
  • Belgium
  • Netherlands
  • Switzerland
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • South Korea
  • India
  • Australia
  • Singapore
  • Malaysia
  • Indonesia
  • Thailand
  • Philippines
  • Rest of Asia-Pacific
• Middle East and Africa
  • South Africa
  • Rest of Middle East and Africa

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Key Developments in the Market:

• In June 2018, Pathway Vet Alliance has entered into a strategic partnership with Heska Corporation. It will enable the company to provide in-house operational services like a point of care blood diagnostics and allergy testing. This alliance will strengthen the company in terms of accuracy, precision, speed and ease to use.
• In May 2018, Zoetis has announced that it has acquired Abaxis which has enhanced the company’s market share in veterinary diagnostics. The acquisition will enable the company to accelerate the sales of its product in more than 100 countries which will increase the revenue of the company.

Competitive Analysis:

Global Veterinary diagnostics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares veterinary diagnostics market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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Key Market Competitors:

Few of the major market competitors currently working in the global veterinary diagnostics market are IDEXX, Abaxis, NEOGEN CORPORATION, bioMérieux SA, Randox Laboratories Ltd., QIAGEN, Thermo Fisher Scientific, Heska Corporation, Zoetis, Covetrus, IDvet, Pfizer Inc., Bio-Rad Laboratories Inc., Virbac, Mindray DS USA Inc., VCA Inc., URIT MEDICAL ELECTRONIC CO. LTD., BPC Biosed srl, HORIBA Ltd., FUJIFILM Corporation, Alvedia and ACON Laboratories Inc. among others.

Primary Respondents

Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.

Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.

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