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Veterinary Diagnostics Market : Market Trends and Key Developments 2017 - 2025

06-23-2017 12:27 PM CET | Health & Medicine

Press release from: TMR Research

Veterinary Diagnostics Market : Market Trends and Key

Global Veterinary Diagnostics Market: Overview

Provision of diagnostic medical testing to detect the presence of toxins, infectious agents, and causes of diseases is crucial in the control and prevention of infectious diseases. Advanced diagnostic capabilities are especially of high importance, partially because animals cannot express what is wrong with them. A wide range of tests on urine, blood, sampled tissue, and feces are made available by veterinary diagnostics centers.

The global veterinary diagnostics market can be segmented by technology, region, product, animal type, and end user. By technology, the market can be categorized into immunodiagnostics, molecular diagnostics, clinical biochemistry, hematology, and urinalysis.

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Global Veterinary Diagnostics Market: Key Trends

As the number of pet owners worldwide has been multiplying rapidly, the demand for veterinary diagnostics is expected to soar. Veterinary diagnostics is used in the diagnosis and treatment of different medical conditions such as allergies, bacteria, fertility issues, diabetes, and viruses that affect cats, dogs, and other pets as well as cows, pigs, bullocks, sheep, poultry, and goats.

Cancer, anemia, rabies, canine adenovirus type-1, tapeworm, heartworm, roundworm, and diseases of the endocrine function are also tested using veterinary diagnostics. Recent advancements in technology offer low cost, speedy, and highly sensitive testing capacities. Easy usage, handling, transportation, and storage, and elimination of the need for refrigeration promises considerable growth of the market.

Global Veterinary Diagnostics Market: Market Potential

Outbreak of cattle diseases worldwide has been necessitating the adoption of veterinary diagnostics on a global scale. For instance, in April 2017, the Kansas State Veterinary Diagnostic Laboratory reported that five beef cattle herds across three counties were tested positive for Trichomoniasis, an extremely contagious, sexually transmitted disease.

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Similarly, Tanzanian Ministry of Agriculture, Livestock, and Fisheries (MALF) has undertaken a program to control and prevent livestock diseases in the region. The Food and Agriculture Organization of the United States (FAO) funded consumables and equipment to Tanzania for the same.

Furthermore, a number of organizations and agencies have been addressing the issue of zoonotic diseases and the threat posed by them to human health. For instance, The Asean Sectoral Working Group on Livestock (ASWGL), in a meeting conducted on 27 April, 2017, stated its initiatives addressing the socio-economic impact of animal diseases. It has been formulating, developing, and implementing strategic mechanism and frameworks both at the regional and national levels.

The market for veterinary diagnostics has been witnessing a number of product launches, acquisitions, collaborations, and mergers. For instance, in April 2017, Calbiotech group of companies, a prominent manufacturer and developer of immunoassays was acquired by Erba Diagnostics Mannheim.

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Global Veterinary Diagnostics Market: Regional Outlook

By geography, the global veterinary diagnostics market can be segmented into Asia Pacific, Latin America, the Middle East and Africa, North America, and Europe. Of these, North America emerged as the leading segment of the global veterinary diagnostics market, thanks to the augmenting demand for animal-derived food products such as diary and meat. The veterinary diagnostics market in Asia Pacific is also advancing at a steady pace. The growing spending on animal healthcare, increasing animal population, and rising concerns and awareness pertaining to zoonotic diseases has been fuelling the market for veterinary diagnostics in Asia Pacific.

Global Veterinary Diagnostics Market: Competitive Landscape

The global market for veterinary diagnostics is highly fragmented in terms of competition. Neogen Corporation, IDEXX Laboratories, Inc, Heska Corporation, Thermo Fisher Scientific Inc., URIT Medical Electronics Co., Ltd., Abaxis, Inc., Randox Laboratories Ltd., IDVet, QIAGEN N.V., Mindray Medical International Limited, Eurolyser Diagnostica GmbH, BPC Biosed srl, Zoetis, Inc., and Virbac are some of the leading companies operating in the global market for veterinary diagnostics.

About TMR Research

TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

Our savvy custom-built reports span a gamut of industries such as pharmaceuticals, chemicals and metals, food and beverages, and technology and media, among others. With actionable insights uncovered through in-depth research of the market, we try to bring about game-changing success for our clients.

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