Veterinary Diagnostics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Veterinary Diagnostics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : May, 2020 | Medical Devices | PPT format

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Veterinary Diagnostics Market: Snapshot

The facility of diagnosis of medical testing to identify the presence of infectious agents, toxins, and reasons for sicknesses is important in the prevention and control of contagious illnesses. Innovative diagnostics capacities are particularly of high significance, halfway due to fact that animals can't express their pain and other uneasiness in their bodies. An extensive variety of tests on blood, urine, feces, and sample tissue are made accessible by veterinary diagnostics centers.

As there is a significant increase in the number of people keeping pet, the surge in demand for veterinary diagnostics is estimated to take off, as well. Veterinary diagnostics is utilized as a part of the detection and treatment of various medical issues, for example, bacteria, allergies,  diabetes, fertility issues, and infections that influence canines, felines, and different pets and including pigs, cows, bullocks, poultry, sheep, and goats.

Anemia, cancer, canine adenovirus type-1, rabies, tapeworm, roundworm, heartworm, and illness related to the endocrine function are additionally tried with veterinary diagnostics. Advancement in technology offer speed, ease, accuracy, and low cost testing capacities. Simple use, transportation, handling, storage and removal of the requirement for refrigeration guarantees impressive development of the market.

Episode of cattle illnesses globally, has been requiring the of veterinary diagnostics on a global scale. For example, in April 2017, the Kansas State Veterinary Diagnostic Laboratory revealed that five be4ef cattle herds crosswise over three regions were diagnosed positive for Trichomoniasis, which was to a great degree, infectious, sexually transmitted disease (STD).

Moreover, Tanzanian Ministry of Agriculture, Livestock, and Fisheries (MALF) has embraced a program to control and avoid domesticated animals illness in the region. The Food and Agriculture Organization of the United States (FAO) provided consumables and tools to Tanzania for the same.

There has been various product launches in the market for veterinary diagnostics, along with acquisitions, mergers, and collaborations. For example, in April 2017, Calbiotech group of organizations, a conspicuous producer and engineer of immunoassays was taken over by Erba Diagnostics Mannheim.

Global Veterinary Diagnostics Market: Overview

Provision of diagnostic medical testing to detect the presence of toxins, infectious agents, and causes of diseases is crucial in the control and prevention of infectious diseases. Advanced diagnostic capabilities are especially of high importance, partially because animals cannot express what is wrong with them. A wide range of tests on urine, blood, sampled tissue, and feces are made available by veterinary diagnostics centers.

The global veterinary diagnostics market can be segmented by technology, region, product, animal type, and end user. By technology, the market can be categorized into immunodiagnostics, molecular diagnostics, clinical biochemistry, hematology, and urinalysis.

Global Veterinary Diagnostics Market: Key Trends

As the number of pet owners worldwide has been multiplying rapidly, the demand for veterinary diagnostics is expected to soar. Veterinary diagnostics is used in the diagnosis and treatment of different medical conditions such as allergies, bacteria, fertility issues, diabetes, and viruses that affect cats, dogs, and other pets as well as cows, pigs, bullocks, sheep, poultry, and goats.

Cancer, anemia, rabies, canine adenovirus type-1, tapeworm, heartworm, roundworm, and diseases of the endocrine function are also tested using veterinary diagnostics. Recent advancements in technology offer low cost, speedy, and highly sensitive testing capacities. Easy usage, handling, transportation, and storage, and elimination of the need for refrigeration promises considerable growth of the market.

Global Veterinary Diagnostics Market: Market Potential

Outbreak of cattle diseases worldwide has been necessitating the adoption of veterinary diagnostics on a global scale. For instance, in April 2017, the Kansas State Veterinary Diagnostic Laboratory reported that five beef cattle herds across three counties were tested positive for Trichomoniasis, an extremely contagious, sexually transmitted disease.

Similarly, Tanzanian Ministry of Agriculture, Livestock, and Fisheries (MALF) has undertaken a program to control and prevent livestock diseases in the region. The Food and Agriculture Organization of the United States (FAO) funded consumables and equipment to Tanzania for the same.

Furthermore, a number of organizations and agencies have been addressing the issue of zoonotic diseases and the threat posed by them to human health. For instance, The Asean Sectoral Working Group on Livestock (ASWGL), in a meeting conducted on 27 April, 2017, stated its initiatives addressing the socio-economic impact of animal diseases. It has been formulating, developing, and implementing strategic mechanism and frameworks both at the regional and national levels.

The market for veterinary diagnostics has been witnessing a number of product launches, acquisitions, collaborations, and mergers. For instance, in April 2017, Calbiotech group of companies, a prominent manufacturer and developer of immunoassays was acquired by Erba Diagnostics Mannheim.

Global Veterinary Diagnostics Market: Regional Outlook

By geography, the global veterinary diagnostics market can be segmented into Asia Pacific, Latin America, the Middle East and Africa, North America, and Europe. Of these, North America emerged as the leading segment of the global veterinary diagnostics market, thanks to the augmenting demand for animal-derived food products such as diary and meat. The veterinary diagnostics market in Asia Pacific is also advancing at a steady pace. The growing spending on animal healthcare, increasing animal population, and rising concerns and awareness pertaining to zoonotic diseases has been fuelling the market for veterinary diagnostics in Asia Pacific.

Global Veterinary Diagnostics Market: Competitive Landscape

The global market for veterinary diagnostics is highly fragmented in terms of competition. Neogen Corporation, IDEXX Laboratories, Inc, Heska Corporation, Thermo Fisher Scientific Inc., URIT Medical Electronics Co., Ltd., Abaxis, Inc., Randox Laboratories Ltd., IDVet, QIAGEN N.V., Mindray Medical International Limited, Eurolyser Diagnostica GmbH, BPC Biosed srl, Zoetis, Inc., and Virbac are some of the leading companies operating in the global market for veterinary diagnostics.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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