North America Holds The Largest Market For Veterinary Diagnostics Followed By Europe 2017

PUNE, India - Oct. 5, 2017 - PRLog -- According to Data Bridge Market Research new Market report "Global Veterinary Diagnostics Market, By Product Type (Instruments and Consumables); Technology (Clinical Biochemistry, Urinalysis, Immunodiagnostics, Hematology, and Molecular Diagnostics);Animal Type (Dogs, Cats, Horses, Cattle, Pigs, and Poultry); End-Users (Hospitals and Clinics, Reference Laboratories, Universities/Research Institutions);Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Trends and Forecast to 2024", the global veterinary diagnostics market accounted to USD 2.06 billion in 2016 at a CAGR of 9.6% during the forecast period of 2017 to 2024.

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Key Market points:

Global veterinary diagnostics market is driven by the factor such as increasing animal population, growing pet insurance purchases, rising demand for animal-derived food products and many more. For instance, according to Food and Agriculture Organization, annual meat production is projected to increase from 218 million tonnes in 1997-1999 to 376 million tonnes by 2030.

Other factors such as increasing incidence of zoonotic diseases as well as growing technological advancements increases the demand for veterinary diagnostics market. Manufactures have introduced new devices such as mass spectrometer platform having accuracy in testing, with faster turnaround time coupled with cost efficiency. However, increasing pet care costs are expected to restrain the market growth.

North America holds the largest market for veterinary diagnostics followed by Europe whereas, APAC is expected to witness the highest CAGR during the forecast period due to the factors such as the rising animal ownership, increase in demand for animal-derived food products, rising awareness about animal health.

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Global Veterinary Diagnostics Market – Market Segmentation:
The global veterinary diagnostics market is driven by the factors such as market is segmented on the basis of type, product, material, and end user.

·         Types

o    Instruments

o    Consumables

·         Technology

o    Clinical Biochemistry

o    Urinalysis

o    Immunodiagnostics

o    Hematology

o    Molecular Diagnostics

·         Animal Type

o    Dogs

o    Cats

o    Horses

o    Cattle

o    Pigs

o    Poultry

·         End Users

o    Hospitals and Clinics

o    Reference Laboratories

o    Universities/Research Institutions

Global Veterinary Diagnostics Market – Geographical Segmentation:
·         North America

·         South America

·         Europe

·         Asia-Pacific

·         Middle East and Africa

Global Veterinary Diagnostics Market – Competitive Landscape:
The global veterinary diagnostics market report contains an in-depth profiling of the key market players, along with the recent developments (new product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their position in the market. The report also covers the market shares for global, North America, Europe, Asia-Pacific, Middle East and Africa and South America veterinary diagnostics market.

Some of the major players of global veterinary diagnostics market are IDEXX Laboratories, Inc., Life Technologies Corporation, Abaxis, Inc., Henry Schein, Neogen Corporation, IDvet, Thermo Fisher Scientific Inc., Pfizer, Heska Corporation, Zoetis, Inc., URIT Medical Electronics Co., Ltd, Eurolyser Diagnostica GmbH, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc, QIAGEN N. V., and Virbac among others.

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