Press release
Companion Animal Diagnostic Market 2018 Global Analysis By Key Players - IDEXX Laboratories, Abaxis, Heska Corporation, Neogen, Zoetis, Thermo Fischer Scientific, Randox, Qiagen & More
Companion Animal Diagnostic
The Companion Animal Diagnostic Market report 2018-2024 provides a comprehensive landscape of the industry, accurate market estimates and forecast split By Animal Type, By Technology and regions. All quantitative information is covered on a regional as well as country basis. The report provides valuable strategic insights on the Companion Animal Diagnostic, analyzing in detail industry impact forces including growth drivers, pitfalls and regulation evolution. The report also includes a detailed outlook on the Companion Animal Diagnostic segment competitive environment, diving in to the industry position of each major company along with the strategic landscape.
Notable Companion Animal Diagnostic market players comprise IDEXX Laboratories, Abaxis, Heska Corporation, Neogen, Zoetis, Thermo Fischer Scientific, Randox, Qiagen, Virbac.
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UK companion animal diagnostic market is estimated to grow at a CAGR of 8.1% during the projection period. Increasing pet adoption along with rise in disposable income resulting in growing pet healthcare expenditure will act as the key driver that will boost the UK companion animal diagnostics market. As per the Pet Food Manufacturers Association 2018 statistics, nearly 13 million households in the country have pets.
Clinical biochemistry animal diagnostic market will witness significant amount of growth at a CAGR of 7.8% during the forecast timeframe. Growing demand for veterinary care with high economic value and efforts to conserve endangered species will drive industry growth. Introduction of micro methods in clinical laboratories and public demand for advanced veterinary care will further drive industry.
Rapid technological advancements in the field of companion animal diagnostics will enhance the market growth in the near future. Technologies such as Polymerase chain reaction (PCR) technology is widely being used for genome sequencing of pathogens to generate vital elements further used in parasite control, disease diagnosis and biological research. Application of DNA biotechnology have significantly impacted animal disease control program stimulating demand for companion animal diagnostic solutions.
Brazil dominated the Latin America companion animal diagnostic market and was valued ove USD 25.3 million in the year 2017. Pets are generally considered as family member in Brazil. According to Brazilian Association of the Industry of Products for Pets (Abinpet) there are around 52 million dogs, 22 million cats, 38 million birds and 18 million fish in Brazil. Thus, rising pet adoption and significant spending towards companion animal healthcare will drive country market growth.
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Increase in adoption of pets in developed countries such as U.S. and Europe majorly by elderly people for companionship will drive the industry growth. Furthermore, there has been shift in trend from pet owners to pet parents indicating pets are considered as family member. According to European Pet Food Industry Statistics, there were around 75 million pet owning homes in Europe in the year 2014. Thus, increasing adoption of pets will accelerate the demand for advanced pet products thereby fueling the market growth.
Table of Content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Companion animal diagnostic Industry Insights
Chapter 4. Companion Animal Diagnostic Market, By Technology
Chapter 5. Companion Animal Diagnostic Market, By Companion Animal
Chapter 6. Companion animal diagnostic Market, By Region
Chapter 7. Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/companion-animal-diagnostic-market
Related Reports: -
Animal Diagnostics Market Application Potential, Competitive Market Share & Forecast, 2017 - 2024
Increasing adoption of pet and growing incidences of zoonotic and foodborne diseases will drive animal diagnostics market growth over the forecast timeframe. Numerous efforts undertaken by government and several other organizations to stimulate growth of animal healthcare sector will contribute to industry expansion.
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