DUBLIN--(BUSINESS WIRE)--The "Veterinary Diagnostics Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The veterinary diagnostics are tests, which help in determining and detecting various disorders associated with animals. The diagnostic tests are performed by taking the blood, feces, and tissue samples, of animals.
The increased pet ownerships with improving urban lifestyle and many shifting from towns to urban localities across developed and emerging markets drive the demand for veterinary healthcare as well as its diagnostics. Also, the rise in zoonotic and foodborne diseases, have increased the responsibility of owners and animal healthcare organizations to invest more in their healthcare.
Apart from that, there are many private insurance companies in developed markets which are attracting owners and companies driving the market of veterinary diagnostics. However, increased pet care costs and substandard veterinary healthcare facilities acts as among the major restraints for the veterinary diagnostics market.
The major market players are focusing on improved diagnostics techniques for animal care, specially protecting the animals from diseases from changing weather conditions.
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Key Market Trends
Molecular Diagnostics are Estimated to Grow Fastest by Technology, Over the Forecast Period
Growing importance is now been given to rapid tests, which helps in providing results within 24 hours or during the initial examination period of an animal. Molecular diagnostics are therefore very powerful diagnostic tools for both farm animals and pets to protects the animals from infectious diseases such as influenza. There are certain programs/initiatives run by veterinary healthcare companies to improve upon animal disease control, thus, enhancing their biotechnology scope.
The studies involve manipulation of DNA through facilities to improve upon protein sequencing of the target and recombinant DNA technologies. Thus, molecular diagnostics are increasingly playing an important role in veterinary diagnostics, thus, estimated to grow fastest over the forecast period.
North America is Estimated to Have Largest Share in the Global Market
The United States and Canada have a growing number of people adopting pets and several facilities provide proper pet care services in major cities of these countries. With increasing urban nature of the societies and more investments towards animal as protection of their household as well as improving upon human-animal relationship, drives the market of veterinary diagnostics in this region.
Also, the steady importance given to agricultural contribution to these countries makes the owner more responsible for better care of farm animals. The healthcare expenditure compared to other countries, also fuels the market growth in North America. Thus, it should hold a major share of the market, over the forecast period.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growth in Population of Companion Animals and Their Owners
4.2.2 Increased Burden of Animal Zonotic Diseases
4.2.3 Growing Pet Insurance and Animal Health Investments by Pharmaceutical Companies
4.3 Market Restraints
4.3.1 Increased Pet Care Costs
4.3.2 Substandard Healthcare Facilities in Low and Middle Income Countries
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Technology
5.1.2 Clinical Biochemistry
5.1.3 Molecular Diagnostics
5.1.6 Other Technologies
5.2 By Animal Type
5.2.1 Companion Animals
126.96.36.199 Other Companion Animals
5.2.2 Livestock Animals
188.8.131.52 Other Livestock Animals
5.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.3.3 Asia Pacific
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East and Africa
5.3.5 South America
220.127.116.11 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abaxis, Inc
6.1.2 Biomerieux SA
6.1.3 Heska Corporation
6.1.4 Idexx Laboratories
6.1.6 Qiagen N.V.
6.1.7 Randox Laboratories, Ltd
6.1.8 Thermo Fisher Scientific
6.1.10 Zoetis, Inc
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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