(PharmaNewsWire.Com, April 12, 2017 ) According to the report Global Veterinary Diagnostics Market, published by Market Data Forecast, the global market is projected to reach USD 6178.34 million by 2021, at a CAGR of 8.6% from 2016 to 2021.
Diagnostics provide tools for effective and rapid testing to undertake preventative or remedial measures for the health of the animal population. For instance, lateral flow and other rapid tests are used in veterinary medicine to test commercial livestock (large animals - cows, poultry, sheep, pigs, etc.) and household pets (cats, dogs, etc.) to test for the presence of a variety of medical conditions caused by bacteria, viruses, allergies, and fertility issues. Food animal diagnostics assist in livestock and production animal preventive care and complement other measures such as vaccination and selective breeding.
The Global Veterinary Diagnostics Industry has seen an exemplary shift in the past few years with the emergence of new and technologically advanced products, which had an optimistic impact on the overall growth of the market. Veterinary diagnostic products are as complex as they are difficult to manufacture. Many of the rapid assay, poultry and livestock diagnostic products are biologic products which demand materials from living organisms. Because of this reason, during economic recession, United States faced a decline in consumer spending on pets, which affected the veterinary diagnostics market. Market development for companion animal diagnostic has depended heavily upon the purchasing and usage of in-clinic analysers or diagnostic instruments used at veterinary practices.
Increase in purchase and usage of various diagnostic instruments that are utilized in veterinary practices, in-clinic diagnostic procedures, high income households that keep pets and regularly visit veterinary laboratories are propelling the growth of this market. However, increasing adoption of vegetarian food due to changing food habits, the economic downturn, the increasing risk of obesity, exposure to global cuisines, and other diseases are some of the factors affecting the growth.
For granular level understanding the Veterinary Diagnostics Market is segmented based on the following categories with Market Size Estimations and Y-o-Y Forecasts presented for each sub-segment.
Based on Product: Clinical Chemistry o Urine Analysis o Glucose Monitoring o Blood Gas Electrolyte Analysis Molecular Diagnostics o Micro Arrays o PCR Tests o Other Molecular Diagnostics Tests Haematology o Haematology Analysers o Haematology Catridges Diagnostic Imaging o Radiography Systems o Ultrasound Imaging Systems o CT Scanners o MRI Scanners Immunodiagnostics o Immunoassay Analysers o ELISA Tests o Lateral-Flow Strip Readers o Lateral-Flow Rapid Tests o Allergen specific Immunodiagnostic Tests
Based on Animals: Companion Animals o Canine Diagnostics o Feline Diagnostics o Other Veterinary Diagnostics Food-Producing Animals o Bovine Diagnostics o Porcine Diagnostics o Ovine Diagnostics o Poultry Diagnostics o Piscine Diagnostics
Based on geography, the report contains a wide array of countries covering all around the globe. Countries in the North American and European region are the top contributors to this market. China, Japan, India, Brazil and Argentina are identified as the predominant markets for Veterinary Diagnostics. For more of regional analysis check out the following reports.
North America Veterinary Diagnostics Market Europe Veterinary Diagnostics Market Asia-Pacific Veterinary Diagnostics Market Latin America Veterinary Diagnostics Market Middle East and Africa Veterinary Diagnostics Market
The major companies operating in the global OTC Drugs Market are VCA Inc., Heska Corporation, Abaxis, Inc., VIRBAC, IDEXX Laboratories, Inc., Life Technologies Corporation, Bio-Rad Laboratories Inc., Prionics AG, and Pfizer, Inc. Asia-Pacific region has the highest growth potential for the Veterinary Diagnostics market due to higher adoption of pets in India and China. The region also have a higher demand for animal derived food products.
The Veterinary Diagnostics Market study offers the following deliverables:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is blooming
Segment-level analysis on basis of product and animals along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of macro and micro environmental factors that affect the global market presented in an extensive strategic analyses section containing PESTLE and Porters Five Forces Analyses
A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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