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Pulished Date February, 2020
ID: 67
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Global Veterinary Diagnostics Market Size, Share, Trends and Growth Analysis Report – Segmented By Product Type, Animal and Region - Industry Forecast | 2020 to 2025

Pulished: February, 2020
ID: 67
Pages: 175

Veterinary Diagnostics Market Size (2020 to 2025)

The Veterinary Diagnostics Market at a global level is predicted to grow at a CAGR of 8.6% from 2020 to 2025.

MARKET DRIVERS:

Y-O-Y growth in the prevalence of animal zoonotic diseases is majorly driving the growth of the animal health diagnostics market.

As per the CDC's data in 2017, tens of thousands of Americans are suffering from zoonotic diseases every year. This growing prevalence has become a global concern, favoring the veterinary diagnostics market to reach better growth heights.

The demand for the veterinary diagnostics market is significantly growing over the past few years with the introduction of technologically improved products that have positively impacted market growth. The global veterinary diagnostics market is primarily driven by the growing companion animal population and an increase in animal care prevalence. The growth in the pet insurance market and increasing animal healthcare expenditure is further accelerating the growth of the global veterinary diagnostic market. Moreover, the skilled veterinary practitioners and increasing income levels of the people in the emerging countries are expected to provide additional support to the growth rate of the market.

MARKET RESTRAINTS:

However, high-cost expenditure for pet care and the unavailability of healthcare facilities for the animals in the rural areas restrict the veterinary diagnostic market growth. Lack of awareness among pet owners over the availability of health care treatments for animals impedes the demand of the market. Lack of skilled staff in veterinary hospitals is also limiting the growth rate of the market.

Impact of COVID-19 on the veterinary diagnostics market:

The growth rate of the global veterinary diagnostic market is slightly declined due to the situations caused by the coronavirus. Many countries imposed a nationwide lockdown to control the spread of COVID-19. The COVID-19 had changed the market activities and the structure. Unlock guidelines have encouraged the increase in the number of treatment procedures for the animals in 2020. All the activities were resumed with high preventive measures in the diagnostic centers and hospitals and predicted that the global veterinary diagnostics market would reach its normal position by the end of the first half of 2021.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2019 to 2025

Base Year

2019

Forecast Period

2020 to 2025

Segments Covered

By Product, Animal, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

This research report on the global veterinary diagnostics market has been segmented and sub-segmented based on animals, products, and regions.

Veterinary Diagnostics Market - By Product:

  • Clinical Chemistry
    • Urine Analysis
    • Glucose Monitoring
    • Blood Gas Electrolyte Analysis
  • Molecular Diagnostics        
    • Micro Arrays
    • PCR Tests
    • Other Molecular Diagnostics Tests
  • Hematology         
    • Hematology Analysers
    • Hematology Cartridges
  • Diagnostic Imaging              
    • Radiography Systems
    • Ultrasound Imaging Systems
    • CT Scanners
    • MRI Scanners
  • Immunodiagnostics            
    • Immunoassay Analysers
    • ELISA Tests
    • Lateral-Flow Strip Readers
    • Lateral-Flow Rapid Tests
    • Allergen-specific Immunodiagnostic Tests

Based on the product, the clinical chemistry segment is holding the highest shares of the market with the rise in the scale of clinics and laboratories. On-going research on developing innovative drugs and vaccines in concern towards animal health is lavishing the market's growth. 

The global market for Immunodiagnostics is expected to grow at a higher CAGR due to the increase in the number of foodborne diseases affecting the animals. The need to perform various tests has increased gradually. In turn, the market for Molecular diagnostics is expected to grow at a higher than that of Immunodiagnostics due to the broad scope it provides over the likes of immunodiagnostics. An increase in purchase and usage of various diagnostic instruments utilized in veterinary practices, in-clinic diagnostic procedures, high-income households that keep pets, and regularly visit veterinary laboratories are propelling the growth of this market. Among the various sub-segments, the ELISA segment was worth USD 451 million in 2019 and is predicted to hike at an impressive rate during the forecast period.

Veterinary Diagnostics Market - By Animal:

  • Companion Animals            
    • Canine Diagnostics
    • Feline Diagnostics
    • Other Veterinary Diagnostics
  • Food-Producing Animals   
    • Bovine Diagnostics
    • Porcine Diagnostics
    • Ovine Diagnostics
    • Poultry Diagnostics
    • Piscine Diagnostics

Based on animals, the Companion animal sector is leading to dominant shares of the market. The rise in the number of companion animals is one of the factors ascribed to bolster the demand of the veterinary diagnostics market. Also, a growing number of pet lovers globally is significantly influencing the demand of the market. 

The poultry animal segment is another lucrative segment and forecasted to register a CAGR of 9.1% from 2020 to 2025.

Veterinary Diagnostics Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Regionally, the North American market dictates the veterinary diagnostics market with the largest market share, followed by the European market. It is predicted that the North American market continues its dominating trend throughout the forecast period. The factors such as increasing health care expenditure and increasing prevalence of veterinary diseases are propelling the growth rate of the market. Primarily rising pet owners are additionally driving the growth rate of the veterinary diagnostic market in this region.             

After North America, The European market is expected to lead the global market and register healthy growth during the forecast period. Increasing awareness about the advanced techniques and the rise in the prevalence of animal diseases are likely to promote market growth.

The Latin American and Asia-Pacific markets are expected to be the most profitable market in terms of growth rate. The Asia Pacific market is the fastest-growing region in the global market. The growing animal healthcare awareness programs and the prevalence of veterinary diseases are contributing to market growth. With the rising investments in healthcare by the government and increasing demand to improve the services in veterinary hospitals, Latin Americans will register a healthy CAGR between 2020 to 2025.

The Middle East and Africa are expected to grow at a stable CAGR during the forecast period. An increasing number of rare diseases among animals is likely to fuel the market demand in this region.

KEY MARKET PARTICIPANTS:

Qiagen N.V., ZoetisInc., IDEXX Laboratories, Inc., and Heska Corporation are playing a leading role in the global veterinary diagnostics market. Some of the other notable companies playing an active role in the market are VCA Inc., Abaxis, Inc., VIRBAC, Life Technologies Corporation, Bio-Rad Laboratories Inc., Prionics AG, and Pfizer, Inc.

MAJOR HAPPENINGS IN THIS MARKET IN THE RECENT PAST:

1.Introduction                                  

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                           

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                              

                2.2 Analysis Design                         

                2.3 Research Phases                      

                                2.3.1 Secondary Research            

                                2.3.2 Primary Research 

                                2.3.3 Econometric Modelling     

                                2.3.4 Expert Validation  

                2.4 Study Timeline                          

3. Overview                                      

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 New Developments                

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                      

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market               

5. Market Segmentation                                              

                5.1 By Product                  

                                5.1.1 Clinical Chemistry

                                                5.1.1.1 Urine Analysis

                                                5.1.1.2 Glucose Monitoring

                                                5.1.1.3 Blood Gas Electrolyte Analysis

                                5.1.2 Molecular Diagnostics        

                                                5.1.2.1 Micro Arrays

                                                5.1.2.2 PCR Tests

                                                5.1.2.3 Other Molecular Diagnostics Tests

                                5.1.3 Haemotology         

                                                5.1.3.1 Haemotology Analysers

                                                5.1.3.2 Haemotology Catridges

                                5.1.4 Diagnostic Imaging              

                                                5.1.4.1 Radiography Systems

                                                5.1.4.2 Ultrasound Imaging Systems

                                                5.1.4.3 CT Scanners

                                                5.1.4.4 MRI Scanners

                                5.1.5 Immunodiagnostics            

                                                5.1.5.1 Immunoassay Analysers

                                                5.1.5.2 ELISA Tests

                                                5.1.5.3 Lateral-Flow Strip Readers

                                                5.1.5.4 Lateral-Flow Rapid Tests

                                                5.1.5.5 Allergen specific Immunodiagnostic Tests

                5.2 By Animals                  

                                5.2.1 Companion Animals            

                                                5.2.1.1 Canine Diagnostics

                                                5.2.1.2 Feline Diagnostics

                                                5.2.1.3 Other Veterinary Diagnostics

                                5.2.2 Food-Producing Animals   

                                                5.2.2.1 Bovine Diagnostics

                                                5.2.2.2 Porcine Diagnostics

                                                5.2.2.3 Ovine Diagnostics

                                                5.2.2.4 Poultry Diagnostics

                                                5.2.2.5 Piscine Diagnostics

6. Geographical Analysis                                              

                6.1 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.2 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy           

                                6.2.6 France      

                6.3 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan        

                                6.3.5 South Korea           

                6.4 Latin America                            

                                6.4.1 Introduction           

                                6.4.2 Brazil         

                                6.4.3 Argentina

                                6.4.4 Mexico     

                6.5 Middle East & Africa               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa        

7.Strategic Analysis                                        

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental      

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services

                                7.2.5 Competitive Rivalry within the Industry      

8.Market Leaders' Analysis                                          

                8.1 Abaxis Inc.                  

                                8.1.1 Overview

                                8.1.2 Product Analysis   

                                8.1.3 Strategic Evaluation and Operations            

                                8.1.4 Financial analysis  

                                8.1.5 Legal issues            

                                8.1.6 Recent Developments       

                                8.1.7 SWOT analysis       

                                8.1.8 Analyst View          

                8.2 Heska Corporation                  

                8.3 VCA Inc.                       

                8.4 IDEXX Laboratories                  

                8.5 Life Technologies Corporation                            

                8.6 Bio-Rad Laboratories Inc.                      

                8.7 Prionics AG                 

                8.8 Pfizer Inc.                    

                8.9 VIRBAC                        

                8.10 Zoetis Inc.                 

9.Competitive Landscape                                            

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                        

                9.3 Agreements, collaborations and Joint Ventures                          

                9.4 New Product Launches                          

10.Expert Opinions                                         

                10.1 Market Outlook                     

                10.2 Investment Opportunities                 

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Veterinary Diagnostics Market By Region, From 2020 to 2025 (USD Million)
  2. Global Veterinary Diagnostics Market By Product, From 2020 to 2025 (USD Million)
  3. Global Clinical Chemistry Market By Region, From 2020 to 2025 (USD Million)
  4. Global Molecular Diagnostics Market By Region, From 2020 to 2025 (USD Million)
  5. Global Haemotology Market By Region, From 2020 to 2025 (USD Million)
  6. Global Diagnostic Imaging Market By Region, From 2020 to 2025 (USD Million)
  7. Global Immunodiagnostics Market By Region, From 2020 to 2025 (USD Million)
  8. Global Veterinary Diagnostics Market By Animals, From 2020 to 2025 (USD Million)
  9. Global Companion Animals Market By Region, From 2020 to 2025 (USD Million)
  10. Global Food-Producing Animals Market By Region, From 2020 to 2025 (USD Million)
  11. Global Clinical Chemistry Market By Type, From 2020 to 2025 (USD Million)
  12. Global Urine Analysis Market By Region, From 2020 to 2025 (USD Million)
  13. Global Glucose Monitoring Market By Region, From 2020 to 2025 (USD Million)
  14. Global Blood Gas Electrolyte Analysis Market By Region, From 2020 to 2025 (USD Million)
  15. Global Molecular Diagnostics Market By Type, From 2020 to 2025 (USD Million)
  16. Global Micro Arrays Market By Region, From 2020 to 2025 (USD Million)
  17. Global PCR Tests Market By Region, From 2020 to 2025 (USD Million)
  18. Global Other Molecular Diagnostics Tests Market By Region, From 2020 to 2025 (USD Million)
  19. Global Haemotology Market By Type, From 2020 to 2025 (USD Million)
  20. Global Haemotology Analysers Market By Region, From 2020 to 2025 (USD Million)
  21. Global Haemotology Catridges Market By Region, From 2020 to 2025 (USD Million)
  22. Global Diagnostic Imaging Market By Type, From 2020 to 2025 (USD Million)
  23. Global Radiography Systems Market By Region, From 2020 to 2025 (USD Million)
  24. Global Ultrasound Imaging Systems Market By Region, From 2020 to 2025 (USD Million)
  25. Global CT Scanners Market By Region, From 2020 to 2025 (USD Million)
  26. Global MRI Scanners Market By Region, From 2020 to 2025 (USD Million)
  27. Global Immunodiagnostics Market By Type, From 2020 to 2025 (USD Million)
  28. Global Immunoassay Analysers Market By Region, From 2020 to 2025 (USD Million)
  29. Global ELISA Tests Market By Region, From 2020 to 2025 (USD Million)
  30. Global Lateral-Flow Strip Readers Market By Region, From 2020 to 2025 (USD Million)
  31. Global Lateral-Flow Rapid Tests Market By Region, From 2020 to 2025 (USD Million)
  32. Global Allergen specific Immunodiagnostic Tests Market By Region, From 2020 to 2025 (USD Million)
  33. Global Companion Animals Diagnostics Market By Type, From 2020 to 2025 (USD Million)
  34. Global Canine Diagnostics Market By Region, From 2020 to 2025 (USD Million)
  35. Global Feline Diagnostics Market By Region, From 2020 to 2025 (USD Million)
  36. Global Other Veterinary Diagnostics Market By Region, From 2020 to 2025 (USD Million)
  37. Global Food-Producing Animals Diagnostics Market By Type, From 2020 to 2025 (USD Million)
  38. Global Bovine Diagnostics Market By Region, From 2020 to 2025 (USD Million)
  39. Global Porcine Diagnostics Market By Region, From 2020 to 2025 (USD Million)
  40. Global Ovine Diagnostics Market By Region, From 2020 to 2025 (USD Million)
  41. Global Poultry Diagnostics Market By Region, From 2020 to 2025 (USD Million)
  42. Global Piscine Diagnostics Market By Region, From 2020 to 2025 (USD Million)

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