The growth of veterinary diagnostics market is mainly attributed to rising demand for animal-derived food products, growing demand for pet insurance and rising animal health expenditure, and rising concern to prevent zoonotic diseases. Based on the technology the veterinary diagnostics market is segmented into diagnostic imaging, clinical chemistry, immunodiagnostics, hematology, and molecular diagnostics. The diagnostic imaging segment accounted for the largest share of the veterinary diagnostics market in 2015, owing to its wide application in companion animals as well as livestock.
On the basis of animal type, the veterinary diagnostics market is segmented into companion animals and food-producing animals. Similarly, on the basis of type of end-user the market is segmented into reference laboratory, veterinary hospitals and clinics, point-of-care testing/ in-house testing, and research institutes.
Complete report 305 market data Tables with 40 Figures across 306 Pages and in-depth TOC on “Veterinary Diagnostics Market" @ http://www.rnrmarketresearch.com/veterinary-diagnostics-market-by-products-clinical-chemistry-hematology-analyzers-molecular-diagnostics-immunodiagnostics-diagnostics-imaging-by-animals-companion-food-producing-dog-livesto-market-report.html .
The global veterinary diagnostics market is estimated to grow at a CAGR of 8.6% from 2016 to 2021, to reach USD 6.71 billion by 2021 from USD 4.43 billion in 2016. In this report, the veterinary diagnostics market is segmented on the basis of product, technology, animal type, and region. On the basis of products, the market is segmented into consumables, instruments and services.
In addition, growth in the number of veterinary practitioners and their income levels in developed economies and increasing awareness about animal healthcare are further expected to drive the growth of this market. However, high cost of the diagnostic imaging instruments and rising pet care cost may hinder the growth of this market to a certain extent during the forecast period. Untapped emerging market such as China, India offers significant growth opportunities.
Geographically, the global veterinary diagnostics market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2015, North America commanded a major share of the veterinary diagnostics market. This is mainly due to the increasing adoption of companion animals, growing pet insurance industry, increasing demand for animal-derived food products, and rising veterinary healthcare expenditure in the region. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period. Growth in the Asia-Pacific market can be attributed to rising companion animal population and increase in the demand for animal-derived food products.
Some of the prominent players in the veterinary diagnostics market include IDEXX Laboratories, Inc. (U.S.), VCA, Inc. (U.S.), ABAXIS, Inc. (U.S),Heska Corporation (U.S.), Zoetis, Inc. (U.S.), NeogenCorporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), ID.Vet (France), Virbac (France), Mindray Medical Internationals Ltd. (China), GE Healthcare (U.K), and AGFA Healthcare (Netherlands). Ask for the discount before order a copy of Veterinary Diagnostics Market by Product (Instruments, Consumables, Services) by Technology (Diagnostic Imaging, Clinical Chemistry, Immunodiagnostics, Molecular Diagnostics) by Animal (Dogs, Cats, Horses, Cattle, Pigs, Poultry) - Global forecast to 2021 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=168477 .
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the veterinary diagnostics market. The report analyzes the veterinary diagnostics market by product, technology, animal type, end-user type, and region
Product Development/Innovation: Detailed insights on the upcoming trends, research and development activities, and new product launches in the veterinary diagnostics market
Market Development: Comprehensive information about lucrative emerging markets by product and region
Market Diversification: Exhaustive information about new products, growing geographies, recent developments, and investments in the veterinary diagnostics market
Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the veterinary diagnostics market
On a related note, another research on Veterinary Equipment and Disposables Market Global Forecast to 2020 says, The global veterinary equipment and disposables market is estimated to grow at a CAGR of 6.5% to reach around USD 1.7 Billion by 2020. North America accounted for the largest share of 42.3% in the global market in 2014. Asia-Pacific is expected to show the fastest growth geographically in the coming years. Companies like Smiths Group Plc (U.K.), Medtronic Plc (Ireland), 3M Company (U.S.), Jorgen Kruuse A/S (Denmark), Digicare Biomedical Technology, Inc. (U.S.), Vetland Medical Sales and Services LLC (U.S.), Hallowell Engineering & Manufacturing Corporation (U.S.), DRE Veterinary (U.S.), Midmark Corporation (U.S.), Jorgensen Laboratories (U.S.), and Mila International Inc. (U.S.) have been profiled in this 277 pages research report available at http://www.rnrmarketresearch.com/veterinary-equipment-and-disposables-market-by-product-anesthesia-machine-vaporizer-ventilator-patient-monitoring-devices-oxygen-mask-infusion-pump-by-animal-canine-feline-equine-bovine-zoo-animals-others-global-forecast-to-2-market-report.html .
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