Global Veterinary Diagnostics Market Anticipated To Reach USD 6,168 million By 2021

Description:

The global veterinary diagnostics market has been currently estimated to be worth USD 4,104 million in 2016 and is projected to reach a market value of USD 6,168 million by 2021, at a CAGR of 8.50% during the forecast period, 2016 to 2021.

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Veterinary diagnostic products are as complex as they are difficult to manufacture. Most of the rapid assay, poultry and livestock diagnostic products are biologics, which require materials from living organisms. Owing to this, during the economic recession of 2008, the United States faced a decline in consumer spending on pets, which affected the veterinary diagnostics market. The market development for companion animal diagnostics has relied heavily on the purchasing and usage of in-clinic analyzers or diagnostic instruments that are used for veterinary practices.

Diagnostic technologies, such as lateral flow and other rapid tests are used in veterinary medicine to test commercial livestock and household pets for the presence of a variety of medical conditions in order to undertake preventative or remedial measures. Food animal diagnostics assist in livestock production, and animal preventive care while complementing other measures, such as vaccination and selective breeding.

In the global veterinary diagnostics market, molecular diagnostics represents a growing segment of the market with laboratory utilization of polymerase chain reaction (PCR) and microarray tests.

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The North American and European veterinary diagnostics markets have huge shares owing to the increasing companion animal population, coupled with the positive trend towards animal healthcare spending. Developing regions in Asia-Pacific and Africa are expected to form a new revenue pocket in the market, with India, China and Brazil contributing to a majority of the market growth over the next decade.

The global veterinary diagnostics market is segmented based on the type of diagnostic tests, which include the likes of immunodiagnostic tests, molecular diagnostics, diagnostic imaging, hematology analyzers, clinical chemistry and others. Other segments include segmentation based on animal type (companion animals, farm animals), product type (consumables and instruments) and geography (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa).

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Idexx, Abaxis, Thermo Fisher Scientific, Heska Corporation, VCA Antech, Henry Schein, Virbac, Zoetis, Biochek and ID Vet are the major players of this market.

COMPANY PROFILES
1 THERMO FISHER SCIENTIFIC
1.1 BUSINESS OVERVIEW:
1.2 PRODUCTS & SERVICES:
1.3 FINANCIALS
2 HENRY SCHEIN
2.1 BUSINESS OVERVIEW
2.2 PRODUCTS & SERVICES
2.3 FINANCIALS
3 VIRBAC
3.1 BUSINESS OVERVIEW
3.2 PRODUCTS & SERVICES
3.3 FINANCIAL OVERVIEW
4 ZOETIS ANIMAL HEALTHCARE
4.1 BUSINESS OVERVIEW
4.2 PRODUCTS & SERVICES
4.3 FINANCIAL OVERVIEW
5 IDVET
5.1 BUSINESS OVERVIEW
5.2 PRODUCTS & SERVICES
5.3 FINANCIAL OVERVIEW
6 ABAXIS INCOPORATED
6.1 BUSINESS OVERVIEW
6.2 PRODUCTS & SERVICES
6.3 FINANCIAL OVERVIEW
7 HESKA CORPORATION
1 BUSINESS OVERVIEW
2 PRODUCTS & SERVICES
3 FINANCIAL OVERVIEW
8 IDEXX
8.1 BUSINESS OVERVIEW
8.2 PRODUCTS & SERVICES
8.3 FINANCIAL OVERVIEW
9 BIOCHEK B.V.
9.1 BUSINESS OVERVIEW
9.2 PRODUCTS & SERVICES
10 ANTECH DIAGNOSTICS INC.
10.1 BUSINESS OVERVIEW:
10.2 PRODUCTS AND SERVICES
10.3 FINANCIALS

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