DUBLIN, Feb. 14, 2019 /PRNewswire/ --
The "Veterinary Diagnostics Market by Product, Technology, Animal, End User - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The veterinary diagnostics market is projected to reach USD 4.00 billion by 2023 from USD 2.63 billion in 2018, at a CAGR of 8.8%
Factors such as growing companion animal population, growing prevalence of animal zoonotic diseases, rising demand for animal-derived food products, rising demand for pet insurance & growing animal health expenditure, and the increasing number of veterinary practitioners and income levels in developed economies are expected to drive the growth of the veterinary diagnostics market. However, the increasing pet care costs may restrain the growth of the market.
The market is segmented based on the product, technology, animal type, end user, and region. Based on the technology, the immunodiagnostics segment is expected to account for the largest share of the market in 2018. The large share can be attributed to the high accuracy of immunodiagnostic tests, high preference for these tests by veterinary practitioners, and its wide applications in veterinary diagnostics.
Based on animal type, the veterinary diagnostics market is categorized into livestock and companion animals. In 2017, the companion animals segment accounted for the largest share of the veterinary diagnostics market. The large share can be attributed to the increasing companion animal ownership, growing awareness about animal health among pet owners, and rising pet healthcare expenditure.
By end user, the veterinary diagnostics market is segmented into veterinary reference laboratories, veterinary hospitals & clinics, point-of-care/in-house testing, and research institutes & universities. Veterinary reference laboratories are estimated to account for the largest share of the market in 2018. The large share of this end-user segment is mainly due to the large number of samples received for analysis in reference laboratories from small and large animal practices.
Geographically, the global veterinary diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to hold the largest share of this market in 2018. This is primarily due to the growing adoption of the companion animals, growing demand for animal-derived food products, and growing number of veterinary practices in the US. On the other hand, the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The large pool of livestock animals and growing awareness about animal health are driving the growth of this regional segment.
IDEXX Laboratories, Inc. (US) and Abaxis, Inc. (US) dominated the global veterinary diagnostics market in 2017. Some of the other players competing in this market are Thermo Fisher Scientific, Inc. (US), Neogen Corporation (US), Heska Corporation (US), Zoetis, Inc. (US), QIAGEN N.V. (Netherlands), IDvet (France), bioMrieux SA (France), Virbac (France), and Randox Laboratories Ltd. (UK).
Key Topics Covered:
1 Veterinary Diagnostics Market: Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Scope of the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Veterinary Diagnostics Market: Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Market Share Estimation
2.5 Assumptions for the Study
3 Veterinary Diagnostics Market: Executive Summary
4 Veterinary Diagnostics Market: Premium Insights
4.1 Veterinary Diagnostics Market Overview
4.2 Asia Pacific: Veterinary Diagnostics Market, 2017
4.3 Veterinary Diagnostics Market: Geographic Growth Opportunities
4.4 Veterinary Diagnostics Market: Geographic Mix
4.5 Veterinary Diagnostics Market: Developing vs Developed Countries/Regions
5 Veterinary Diagnostics Market: Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Key Market Drivers
5.3.1 Growth in Companion Animal Population
5.3.2 Growing Prevalence of Animal Zoonotic Diseases
5.3.3 Rising Demand for Animal-Derived Food Products
5.3.4 Rising Demand for Pet Insurance & Growing Animal Health Expenditure
5.3.5 Growth in the Number of Veterinary Practitioners and Income Levels in Developed Economies
5.4 Key Market Restraints
5.4.1 Increasing Pet Care Costs
5.5 Key Market Opportunities
5.5.1 Untapped Emerging Markets
5.6 Key Challenges
5.6.1 Lack of Animal Healthcare Awareness in Emerging Markets
5.6.2 Shortage of Veterinarians in Emerging Markets
6 Veterinary Diagnostics Market: Industry Insights
6.1 Introduction
6.2 Industry Trends
6.2.1 Development of Portable Instruments for Poc Diagnostic Services
6.2.2 Development of Rapid and Sensitive Veterinary Diagnostic Kits
6.2.3 Growing Consolidation in the Veterinary Diagnostics Industry
7 Veterinary Diagnostics Market, By Product
7.1 Introduction
7.2 Instruments
7.3 Consumables
8 Veterinary Diagnostics Market, By Technology
8.1 Introduction
8.2 Immunodiagnostics
8.2.1 Lateral Flow Assays
8.2.1.1 Lateral Flow Rapid Tests
8.2.1.2 Lateral Flow Strip Readers
8.2.2 Elisa Tests
8.2.3 Allergen-Specific Immunodiagnostic Tests
8.2.4 Immunoassay Analyzers
8.2.5 Other Immunodiagnostic Products
8.3 Clinical Biochemistry
8.3.1 Clinical Chemistry Analysis
8.3.1.1 Clinical Chemistry Reagent Clips and Cartridges
8.3.1.2 Clinical Chemistry Analyzers
8.3.2 Glucose Monitoring
8.3.2.1 Blood Glucose Strips
8.3.2.2 Glucose Monitors
8.3.2.3 Urine Glucose Strips
8.3.3 Blood Gas & Electrolyte Analysis
8.3.3.1 Blood Gas and Electrolyte Reagent Clips and Cartridges
8.3.3.2 Blood Gas & Electrolyte Analyzers
8.4 Molecular Diagnostics
8.4.1 Polymerase Chain Reaction (PCR) Tests
8.4.2 Microarrays
8.4.3 Other Molecular Diagnostic Products
8.5 Hematology
8.5.1 Hematology Cartridges
8.5.2 Hematology Analyzers
8.6 Urinalysis
8.6.1 Urinalysis Clips & Cartridges/Panels
8.6.2 Urine Analyzers
8.6.3 Urine Test Strips
8.7 Other Veterinary Diagnostic Technologies
9 Veterinary Diagnostics Market, By Animal Type
9.1 Introduction
9.2 Companion Animals
9.2.1 Dogs
9.2.2 Cats
9.2.3 Horses
9.2.4 Other Companion Animals
9.3 Livestock Animals
9.3.1 Cattle
9.3.2 Pigs
9.3.3 Poultry
9.3.4 Other Livestock Animals
10 Veterinary Diagnostics Market, By End User
10.1 Introduction
10.2 Reference Laboratories
10.3 Veterinary Hospitals & Clinics
10.4 Point-Of-Care/In-House Testing
10.5 Research Institutes & Universities
11 Veterinary Diagnostics Market, By Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.2 Japan
11.4.3 India
11.4.4 Rest of APAC
11.5 Latin America
11.5.1 Brazil
11.5.2 Mexico
11.5.3 Rest of Latin America
11.6 Middle East and Africa
12 Veterinary Diagnostics Market: Competitive Landscape
12.1 Introduction
12.2 Growth Strategy Matrix
12.3 Product Portfolio Matrix
12.4 Market Share Analysis
12.5 Competitive Situations and Trends
12.5.1 Product Launches
12.5.2 Mergers and Acquisitions
12.5.3 Agreements, Partnerships, and Collaborations
12.5.4 Expansions
13 Company Profile
13.1 Idexx Laboratories
13.2 Abaxis, Inc.
13.3 Zoetis, Inc.
13.4 Qiagen N.V.
13.5 Thermo Fisher Scientific
13.6 Neogen Corporation
13.7 Heska Corporation
13.8 Virbac
13.9 Biomrieux SA
13.10 Idvet
13.11 Randox Laboratories, Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/qs8hm2/4_bn_veterinary?w=5
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