Veterinary Diagnostics Market Trends Analysis of Unstoppable Growth Potential for the Next 10 Years

The "Veterinary Diagnostics Market" Report offers a thorough analysis of prominent competitors and their market shares, providing valuable insights into the competitive landscape. Alongside important metrics like sales, revenue, average selling price, and gross margin, the report explores significant growth prospects for industry leaders. Serving as an all-inclusive resource, this research provides a comprehensive overview of the market and its potential for expansion, making it an essential tool for investors and business professionals alike.

Request To Download Sample of This Strategic Report: -https://reportocean.us/sample-request/report_id/IND111

The global veterinary diagnostics market is expected to reach USD 5,010.11 Mn by 2023, expanding at a CAGR of 9.1% from 2018 to 2023.

The growing prevalence of zoonotic diseases is one of the primary drivers of the market, as early diagnosis and subsequent treatment can prevent these diseases from spreading.

Among the technology segments, clinical biochemistry dominated the market, accounting for 32.3% of the global revenue in 2017. The rising use of clinical chemistry analyzers, glucose monitoring, and blood gas and electrolyte analysis has fueled the demand for clinical biochemistry-based diagnostics. The immunodiagnostics segment is anticipated to be the fastest-growing technology segment of the market, expanding at a CAGR of 10.1% during 2018-2023. The prevalence of animal-transmitted diseases has increased considerably, driving the demand for diagnostic tests that can quickly and efficiently detect pathogens.

The companion animal segment accounted for the largest share (52.5%) of the global revenue in 2017, and the market is estimated to grow at a steady rate during the forecast period. Pet ownership has increased considerably in the past few years, especially in North America and Europe. In the U.S., the number of companion animals increased to 211.8 MN in 2017, from 157.15 in 2012. Furthermore, pet industry expenditure in the U.S. reached USD 69.51 Bn in 2017, from USD 53.33 Bn in 2012. Growth in pet ownership, coupled with increased spending on pet healthcare, especially in developed economies, has propelled the demand for veterinary diagnostics.

Consumables appeared to be the largest products segment in 2017, and is estimated to continue leading, accounting for an anticipated 34.9% share of the global market by 2023. Substantial demand from the developed countries of North America and Europe contributed to the considerable share of this segment during the past few years. In terms of end-users, point of care is anticipated to be the fastest-growing segment during the forecast period. It is expected to register a steady CAGR of 9.4% during the 2018-2023 period, driven by the development of low-cost and portable instruments with advanced functions.

Download Sample of This Strategic Report: -https://reportocean.us/sample-request/report_id/IND111

North America held the largest share of the veterinary diagnostics market in 2017, owing to increased awareness about the harmful effects of zoonotic diseases. Increased spending by pet owners to improve pet health and increase the lifespan of pets has driven demand in North America, especially in the companion animal segment. Availability of attractive pet insurance policies has played a key role in driving the market in countries like the U.S. and Canada. The Asia-Pacific region is expected to exhibit the highest CAGR (10.9%) during the 2018-2023 period. Substantial growth in farm animal population, especially in China and India, is likely to propel market growth over the forecast period.

Key companies operating in the global veterinary diagnostics market include IDEXX laboratories, Inc., Zoetis Inc., HESKA Corporation, Biolas Health, Inc., Abaxis, Inc., Neogen Corporation, QIAGEN, bioMrieux SA, Thermo Fisher Scientific, Inc., Virbac, Randox Laboratories Ltd., and IDvet.

These companies are focusing on developing new products and technologies to expand their presence in the global market.

It also discusses market opportunity, CAGR growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, and future forecasts for various regions and/or countries.

North America's market size, Y-O-Y growth, market players analysis, and opportunity outlook are covered in the report, along with Latin America's market size, Y-O-Y growth, market players analysis, and opportunity outlook. The report also covers Europe's market size, Y-O-Y growth, market players analysis, and opportunity outlook for countries such as the U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, and Rest of Europe. Asia-Pacific's market size, Y-O-Y growth, market players analysis, and opportunity outlook are covered as well, along with the Middle East and Africa's market size, Y-O-Y growth, market players analysis, and opportunity outlook for countries such as Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East and Africa.

The global veterinary diagnostics market is expected to grow significantly during the forecast period due to the rising prevalence of zoonotic diseases, increased pet ownership, and technological advancements in diagnostic testing. The Asia-Pacific region presents significant growth opportunities for market players, providing ample scope for market expansion.

Download Sample of This Strategic Report: -https://reportocean.us/sample-request/report_id/IND111

Scope of the Report:

The scope of this report encompasses a comprehensive analysis of the market growth expected to occur from 2023 to 2030. Through meticulous research, we have organized data pertaining to the evolving market structures that exert influence on industries, markets, technologies, and capabilities. Our report presents a thorough examination of relevant statistics, opportunities, challenges, drivers, restraints, limits, market size, share, and trends. By delivering valuable insights, we aim to provide a comprehensive understanding of the market landscape.

Here are the key highlights of the report:

• Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
• In-depth analysis of the competitive landscape, identifying key trends within the industry.
• Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER's five forces.
• Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
• Guidance provided for new market entrants, assisting them in navigating the industry landscape.
• Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.

Our sample report encompasses the following elements:

• Introduction, Overview, and In-depth Industry Analysis: A comprehensive analysis of the industry, providing an updated report introduction along with an in-depth examination of key aspects.
• Research Report of 100+ Pages: The report consists of more than 100 pages, incorporating the latest research findings and insights.
• Chapter-wise Guidance: We offer chapter-wise guidance upon request, allowing you to navigate the report and delve into specific areas of interest.
• Updated Regional Analysis with Graphical Representation: Our report includes an updated regional analysis, presented in a graphical format to illustrate the size, share, and emerging trends within each region.
• List of Tables and Figures: It features an updated list of tables and figures that support the information presented in the report.
• Top Market Players: The report includes a comprehensive analysis of the leading market players, highlighting their business strategies, sales volume, and revenue analysis.
• Facts and Factors Research Methodology: Our research methodology is based on a rigorous approach, ensuring the accuracy and reliability of the information presented in the report.

Our most recent research report showcases the thriving expansion of the global Veterinary Diagnostics Market and offers in-depth insights into the projected market size, share, and revenue until 2030.

Request Full Report -https://reportocean.us/sample-request/report_id/IND111

About Report Ocean:

We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom-line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.

Get in Touch with Us:
Report Ocean:
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 - UNITED STATES
Tel:+1 888 212 3539 (US - TOLL FREE)
Website: https://reportocean.us/

This release was published on openPR.