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Animal Diagnostics Market Prominent Key Players are IDEXX, Abaxis, Inc., Heska Corporation, Neogen Corporation, Zoetis Inc., Thermo Fisher Scientific, Randox, QIAGEN, Virbac

08-01-2018 02:25 PM CET | Health & Medicine

Press release from: fractovia.org

Animal Diagnostics

Animal Diagnostics

Zoetis, acclaimed as one of the foremost firms operating in the global animal diagnostics market, in its recent announcement has unveiled that it will be purchasing Abaxis for USD 1.9 billion, as it looks to account for a major chunk of the fast-growing business of veterinary diagnostics services. The acquisition, according to reports is expected to help Zoetis lower its reliance on its vast animal dermatology business that is facing looming competition from emerging startups and other smaller firms.

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As a matter of fact, the New Jersey-based Zoetis said that it believes the veterinary diagnostics equipment category to be advancing faster than the overall animal health industry, given the robust market demand outside of U.S. Quite overtly, the purchase deal will expand Zoetis’s presence in the global animal diagnostics market, which according to experts would bolster its expansion efforts.

Elaborating along similar lines, the competitive landscape of animal diagnostics market seems to be quite consolidated in nature with prominent players opting for M&As and partnerships for strengthening their respective positions. Rising disposable incomes coupled with significant advancements in veterinary diagnostics has undeniably propelled the industry fellows to upscale their manufacturing capabilities and product portfolios. An instance providing testament to the aforesaid statement is that of Zoetis, that has recently launched Carysta HVC (High Volume Chemistry), a diagnostic instrument designed to advance productivity as well as to reduce the cost of the process.

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Yet another prominent animal diagnostics industry player in line is Heska, that has inked a licensing agreement and product development partnership with a renowned clinical diagnostics and life sciences technology company MBio Diagnostics. According to an official statement, the duo will jointly bring forth new point-of-care multiplex testing technologies to the animal health & wellness sector.

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