Global Veterinary Diagnostics Market Unit Sales to Witness Significant Growth in the Near Future || BPC Biosed srl, HORIBA Ltd., FUJIFILM Corporation, URIT MEDICAL ELECTRONIC CO. LTD., VCA Inc.
MARKET DEFINITION: GLOBAL VETERINARY DIAGNOSTICS MARKET
Global 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.
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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KEY MARKET COMPETITORS: GLOBAL VETERINARY DIAGNOSTICS MARKET
Few of the major market competitors currently working in the global veterinary diagnostics market are IDEGLOBAL VETERINARY DIAGNOSTICS MARKET, 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.
MAJOR MARKET DRIVERS & RESTRAINTS ARE AS FOLLOWS:
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
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
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MARKET SEGMENTATION: GLOBAL VETERINARY DIAGNOSTICS MARKET
Global Veterinary Diagnostics Market By Product (Instruments, Consumables), Technology (Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Hematology, Urinalysis, Others), Animal Type (Companion Animals, Livestock Animals), End User (Reference Laboratories, Veterinary Hospitals and Clinics, Point-of-Care/In-House Testing, Research Institutes & Universities), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
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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