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:
Based on animal type, veterinary diagnostics market has been segmented into the following:
Based on end users, veterinary diagnostics devices market has been segmented into the following:
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.
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