World Veterinary Diagnostics Market: Technological Advancements to in Diagnostic Equipment to Drive Growth of Market

A new study by Transparency Market Research (TMR) provides a detailed and unbiased assessment of the global market for veterinary diagnostics. It examines the driving forces, prominent trends, challenges, opportunities, and growth prospects of this market in order to determine its future status.

The research report, titled “Veterinary Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013–2019,” states that the increasing preference for in-clinic diagnostic procedures among patients has been propelling this market substantially. The increasing number of high-income households, which keep pets and visit veterinary laboratories regularly are also fueling the demand for veterinary diagnostics equipment and resulting in a significant growth of this market.

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In addition to this, the ongoing technological advancements in veterinary diagnostics equipment and procedures to ensure faster and accurate results are anticipated to boost this market remarkably throughout the forecast period, state the research report.

According to researchers, the worldwide market for veterinary diagnostics is spread across North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. North America dominates this market and is closely followed by Europe. Western Europe, the U.S., Japan, and various other developed economies have been able to carry out technologically advanced diagnostic tests; however, most of the emerging economies are still largely untapped.

With the tremendous surge in the number of households willing to keep pets, the markets for veterinary diagnostics in Asia Pacific and Latin America are projected to emerge as the most lucrative ones among all the regional markets during the forecast period. The market in the Middle East and Africa is also anticipated to witness strong growth due to high animal density, notes the market study.

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The competitive landscape of the global market for veterinary diagnostics has also been provided in this research study. Researchers have profiled the key market players in a bid to identify the prevalent market hierarchy. According to researchers, the market exhibits a highly fragmented and competitive structure due to the presence of a large participant pool. The rivalry between the key players is extremely high, thus, to sustain in this environment, these players are expected to focus on product innovation and technical upgradation of their offerings.

Thermo Fisher Scientific Inc., ABAXIS Inc., HESKA Corp., IDEXX Laboratories Inc., Neogen Corp., VCA Inc., VIRBAC, Mindray Medical Int. Ltd., Idvet, and Zoetis Inc. are the leading companies in this market, reports the study.

The report aims at providing a deep insight into the global veterinary diagnostics market to participants in a bid to help them in their business development.

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.