Veterinary Infectious Disease Diagnostics Market Trends and Forecast to 2024- Industry Analysis by Regions, Growth, Size Type and Applications

2019 Research Report on Global Veterinary Infectious Disease Diagnostics Market is a professional and comprehensive report on the Veterinary Infectious Disease Diagnostics industry.

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Key Players: IDEXX Laboratories, Inc. (US), Zoetis, Inc. (US), QIAGEN N.V. (Indical GmbH) (Germany), Thermo Fisher Scientific, Inc. (US), Neogen Corporation (US), Virbac (France), bioMérieux SA (France), IDVet (France), Randox Laboratories, Ltd. (UK), Heska Corporation (US), Creative Diagnostics (US), URIT Medical Electronic Group Co., Ltd (China), NTBIO Diagnostics, Inc. (Canada), Bio-X Diagnostics (Belgium), Agrolabo S.p.A (Italy), Eurolyser Diagnostica (Austria), Eurofins Technologies (Hungary), MEGACOR Diagnostik GmbH (Austria), AusDiagnostics Pty, Ltd. (Australia), Demedetic Diagnostics GmbH (Germany), Chembio Diagnostic Systems, Inc. (US), DRG Diagnostics GmbH (Germany), XpressBio (US), InBios International, Inc. (US), and Genesig (Primer design) (UK).

“The global veterinary infectious disease diagnostics market is projected to grow at a CAGR of 8.4% during the forecast period”

Veterinary infectious disease diagnostics includes immunodiagnostic, molecular diagnostic, and other veterinary diagnostic technologies. Diagnosis is conducted using kits, reagents, consumables, and analyzers that determine the nature and cause of infectious disease and the disease condition in animals.

The global veterinary infectious disease diagnostics market is projected to reach USD 2.2 billion by 2024 from USD 1.4 billion in 2019, at a CAGR of 8.4% from 2019 to 2024.

Growing demand for advanced veterinary infectious disease diagnostic tools, increasing demand for animal-derived food products, growth in companion animal population, rising demand for pet insurance, increasing number of veterinary practitioners in developed economies, and rising disease control &disease prevention measures are some of the key factors driving the veterinary infectious disease diagnostics market. However, rising pet care costs, lack of animal healthcare awareness and shortage of veterinarians in emerging countries are expected to limit market growth to a certain extent.

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“The immunodiagnostics segment accounted for the largest share of the veterinary infectious disease diagnostics market during the forecast period”

Based on technology, the veterinary infectious disease diagnostics market is segmented into immunodiagnostics, molecular diagnostics, and other technologies. The immunodiagnostics segment accounted for the largest share of the veterinary infectious disease diagnostics market in 2018. The higher preference for advanced infectious disease diagnostic products by veterinarians, animal farm owners, government institutions & organizations, pet owners, and laboratory technicians; growing demand for early &accurate diagnosis; increasing preference for in-house testing; and the rising applications of immunodiagnostics are supporting the growth of this application segment.

“Europe accounted for the second-largest share of the global market in 2018”

The veterinary infectious disease diagnostics market is segmented into five major regions, namely North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe accounted for the second-largest share in 2018. Factors such as increasing companion animal ownership, rise in animal disease outbreaks, a growing number of veterinary professionals, and government support to ensure good animal health are driving the market for veterinary infectious disease diagnostics in Europe.

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In the end, the Global Veterinary Infectious Disease Diagnostics Market report’s conclusion part notes the estimation of the industry veterans.

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This release was published on openPR.