The revenue within the global veterinary diagnostics market are set to reach unprecedented heights over the forthcoming years. Use of improved technologies for diagnosis and treatment of animals has given a thrust to market growth. Veterinary treatment has lately become a matter of global discussion and debate. Huge influx of students who intend to study and specialise in veterinary care has paved way for market growth.
- Governments in several regions are compelled to develop state-of-the-art veterinary hospitals and healthcare centers. Therefore, the demand within the global veterinary diagnostics market is expected to reach new heights in the years to follow.
- The rising inclination of the masses towards adoption of pets has paved way for market growth. Several European countries encourage adoption of pets as an exercise to treat people suffering from ill-health and depression. It is estimated that one in every three people intend to or have a pet in the US. The aforementioned factors are suggestive of stellar growth within the global veterinary diagnostics market.
- Animal rights activists have also persuaded the government to develop new facilities for veterinary care, treatment, and diagnostics. This factor shall play an important role in driving demand within the global veterinary diagnostics market.
Veterinary diagnostics are the tests that help in determiningand identifyingvariousdisorders in animals. These procedures are performed via various methods that utilize their blood, feces and tissue samples.The new methods and technologies that have been developed for human diagnostics are also utilized extensively in veterinary diagnostics. Various methods used in veterinary diagnostics include immunodiagnostics, hematology, molecular testing (including nucleic acid testing) and clinical chemistry.The other methods used for the same include enzyme linked immunosorbent assay (ELISA), lateral flow tests, indirect fluorescent antibody test (IFAT), complement fixation, agglutination, western blot, polymerase chain reaction (PCR) and microarrays/biochips.
The growth of this market is dependent on various market drivers such as increase in number of in-clinic diagnostic procedures, andincrease in purchase and usage of various diagnostic instruments that are utilized in veterinary practices. Also, increase in number of high income households that keep pets and regularly visit veterinary laboratories will also propel the growth of this market. In-clinic diagnostic practices and companion animal diagnostics increase the number of animals diagnosed with technologically advanced equipment and procedures that ensure accurate and faster results.
The North American market dominates the global veterinary diagnostics market with the largest market share, followed by the European market.The U.S., Japan, Western Europe and other developed nations have been able to use technologically advanced diagnostic tests;but, most of the developing markets still remain largely untapped. The Asia-Pacific and the Latin American markets are expected to be the most lucrative market in terms of growth rate due to increase in the number of households that are preferring to keep pets. The Middle East and the African region can also prove to be the prospective markets for veterinary diagnostics due tohigh animal density.
Some of the major players operating in the veterinary diagnostics market are Abbott Laboratories, Abaxis, Inc., Heska Corporation, IDEXX Laboratories, Inc., Bio-Rad Laboratories Inc., Life Technologies Corporation, Prionics AG, and Pfizer, Inc.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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