Veterinary Diagnostics Market to show Tremendous Growth by 2026 | IDEXX, Abaxis, NEOGEN CORPORATION

Author: Thomas Smith

According to the latest report published by "Data Bridge Market Research", the Veterinary Diagnostics Market is anticipated to grow at a steady pace over the forecast period 2019 – 2026. The report sheds light on the various trends and restraining factors that are expected to shape the growth of the Veterinary Diagnostics in the upcoming years. The report ponders over the various parameters that are expected to impact revenue generation, sales, and demand for the Fresh Compressed Yeast in the various regional markets.

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.

Market Definition: Global Veterinary Diagnostics Market

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

Top Manufacturers Covered in the Report:

Few of the major market competitors currently working in the global veterinary diagnostics market are IDEXX, 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.

Competitive Analysis:

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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Market Drivers

  • 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

Key Developments in the Market:

  • In June 2018, Pathway Vet Alliance has entered into a strategic partnership with Heska Corporation. It will enable the company to provide in-house operational services like a point of care blood diagnostics and allergy testing. This alliance will strengthen the company in terms of accuracy, precision, speed and ease to use.
  • In May 2018, Zoetis has announced that it has acquired Abaxis which has enhanced the company’s market share in veterinary diagnostics. The acquisition will enable the company to accelerate the sales of its product in more than 100 countries which will increase the revenue of the company.

Key Questions Related to the Veterinary diagnostics market Addressed in the Report

  • What are the growth prospects of the Veterinary diagnostics market over the forecast period?
  • How are the market players operating in the Veterinary diagnostics market adapting to the evolving regulatory framework?
  • What are the leading market players operating in the current Veterinary diagnostics market landscape?
  • Which region is expected to dominate the global Veterinary diagnostics market in terms of share, size, and value?
  • What are the strategies adopted by upcoming market players to solidify their market presence?

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