LONDON--(BUSINESS WIRE)--The global animal health diagnostics market is expected to register a CAGR of around 10% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the increase in pet humanization. Humanization refers to the treatment of pets like the members of the family. With millennials, the practice of keeping pets for functional purposes is decreasing. Instead, pets are adopted as members of urban families. For instance, most people today do not expect their dogs to sleep outside the house and protect them.
This market research report on the global animal health diagnostics market 2018-2022 further provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the technological advances as one of the key emerging trends in the global animal health diagnostics market:
Global animal health diagnostics market: Technological advances
Diagnosis is an integral part of disease prevention and management as a minor outbreak of the disease can spread quickly and pose a threat to the entire population in the vicinity. Disease diagnosis of an animal forms the connecting link between the cause of the disease and the cure of the disease. There is a requirement for rapid methods that can provide answers related to the disease in terms of its cause and the probable solution.
“For laboratory diagnosis, the classical polymerase chain reaction is widely used to detect nucleic acids in a given specimen. It is a strong alternative to the other detection methods, particularly in the virulence typing of Avian Influenza virus. The different versions of PCR include real-time PCR, nested PCR, and multiplex PCR,” says a senior analyst at Technavio for research on in-vitro diagnostics.
Global animal health diagnostics market: Segmentation analysis
This market research report segments the global animal health diagnostics market into the following end-users (veterinary hospitals, veterinary clinics, and research institutes) and key regions (the Americas, APAC, and EMEA).
Veterinary hospitals are one of the important end-users of animal health diagnostics and account for a major share of the market. Veterinary hospitals provide a wide range of services such as vaccination, pet grooming, trauma and emergency services, and pet wellness.
The Americas held the highest share of the global animal health diagnostics market in 2017, accounting for a market share of more than 73%. This region is expected to dominate the global market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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