What's driving Animal Diagnostics Market : Eminent Players – Thermo Fisher Scientific, Abaxis, Heska Corporation, Virbac, IDEXX Laboratories, Zoetis, Randox, Qiagen, and Neogen
Increasing number of well-informed pet owners demanding for superior pet care products, rising spending towards pet care along with growing disposable income will drive UK animal diagnostics market over the coming years. Growing pet adoption coupled with advancements in veterinary diagnostics will stimulate demand for innovative animal diagnostic tools.
Growing affection of companion animals leading to rise in pet adoption along with rising demand for premium pet products will drive China animal diagnostics market. Rise in spending over pet care and growing number of veterinarian clinics in the country will positively impact industry growth.
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Some of the notable industry players operating in global animal diagnostics market are Thermo Fisher Scientific, Abaxis, Heska Corporation, Virbac, IDEXX Laboratories, Zoetis, Randox, Qiagen, and Neogen. Industry players are adopting inorganic growth strategies such as merger, acquisition and strategic partnership to expand their product portfolio as well as consolidate market position.
Leading players are focusing on new product development to gain significant market share and sustain its position. For instance, Virbac launched Speed Reader, range of biomarker tests allowing rapid detection of parasitic and infectious diseases in companion animals and cattle in January 2018 in Germany.
Technological advancements veterinary diagnostics coupled with industry players efforts to develop cost-effective, flexible diagnostic tool capable of delivering faster results will stimulate industry growth. However, low expenditure on pet care in developing economies such as South Africa along with exorbitant cost associated with animal test will hinder industry growth over the forecast timeframe.
Hematology segment will witness robust growth over the forecast period. Growing demand for bleeding (hemostasis) analysis, erythrocyte analysis, and leukocyte analysis coupled with rising number of pets suffering from vomiting, weakness, diarrhea, fever, pale gums and loss of appetite requiring hematological tests for disease diagnosis will lead to segment growth.
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Urinalysis provides valuable information about urinary tract infection in pets especially in small animals including dogs, cats, rabbits, guinea pigs and others. Presence of associations such as International Society for Companion Animal Infectious Diseases providing guidelines for management of urinary tract infection will drive segment growth.
Animal Diagnostics Market size is set to exceed USD 5.4 billion by 2024; according to a new research report by Global Market Insights.Growing pet adoption for companionship, rising disposable income and substantial increase in pet care expenditure will propel industry growth. Furthermore, rise in demand for animal protein and meat consumption will fuel animal diagnostics market growth. Growing number of veterinary clinics such as Animal Healthcare Center of Florida that offers varied pet services including surgical, medical pet care, wellness programs, hospitalization, behavioral counselling, grooming and others will positively impact business growth.
Rising prevalence of zoonotic diseases coupled with several initiatives undertaken by public and private players to reduce incidences of animal derived human infections will drive animal diagnostics market over the forecast period.
Chapter 1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data Sources
18.104.22.168. Paid sources
22.214.171.124. Unpaid sources
Chapter 2. Executive Summary
2.1. Animal diagnostics industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Technology trends
2.1.3. Animal type trends
2.1.4. Regional trends
Chapter 3. Animal Diagnostics Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces
3.3.1. Growth drivers
126.96.36.199. Growing trend of adopt"ing pet animals
188.8.131.52. Rising prevalence of food borne and zoonotic diseases
184.108.40.206. Favorable government initiatives
220.127.116.11. Rapidly increasing demand for animal products
18.104.22.168. Advancements in veterinary diagnostics
3.3.2. Industry pitfalls & challenges
22.214.171.124. Prohibitive cost associated with animal tests
126.96.36.199. Low out of pocket expenditure on pet healthcare in developing countries
3.4. Growth potential analysis
3.4.1. By technology
3.4.2. By animal type
3.5. Regulatory landscape
3.6. Porter’s analysis
3.7. Competitive landscape, 2016
3.7.1. Business overview
3.7.2. Revenue analysis
3.7.3. Product landscape
3.7.4. Strategy dashboard
3.8. PESTEL analysis
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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