NEW YORK, Oct. 4, 2022 /PRNewswire/ -- According to a new market research report titled, "Veterinary Diagnostics Market by Product (Instruments, Consumables & Reagents), by Technology (Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Hematology, Others), by Animal (Canine, Feline, Cattle, Pigs, Others) -Global Outlook & Forecast 2022-2030" published by Growth Plus Reports, the veterinary diagnostics market is expected to grow at a CAGR of 7.0% from 2021 to reach US$ 52.57 billion by 2030. The rising pet adoption rate is eventually going to increase the veterinary diagnostics market.
The global veterinary diagnostics market has been analyzed from four perspective: product, technology, animal, and region.
Market Driver
The introduction of novel diagnostics tools is one of the major factors driving the global veterinary diagnostics market. These include veterinary diagnostic kits that are offered to vets as full kits and used to identify infections or a patient's immunological status. For instance, PetDx introduced OncoK9, one of the first-in-class multi-cancer early detection (MCED) tests for quick and easy identification of cancer in dogs.
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Excerpts from 'By Product'
The global veterinary diagnostics market is divided into:
- Consumables & Reagents
- Instruments Based
The majority share of this market is with consumables & reagents category. The commercial availability of a wide range of reagents and consumables for diagnosis of various diseases and animal health screening, increasing awareness of routine animal health checks leading to its frequent usage, and the development of novel diagnostics tests and assays are the factors contributing to the demand for consumables & reagents.
Excerpts from 'By Technology'
Based on technology, the global market is divided into:
- Hematology
- Clinical Biochemistry
- Molecular Diagnostics
- Immunodiagnostics
- Others
The substantial role that clinical biochemistry plays in disease diagnosis, determining disease progression, monitoring, and therapy response evaluation characterizes the clinical biochemistry segment. The immunodiagnostics segment is also growing at a rapid pace. Since it makes use of the antibody-antigen system, immunodiagnostics is one of the most efficient techniques for diagnosing diseases.
Excerpts from 'By Animal'
The canine, feline, cattle, pig and others are the key species for veterinary diagnostic tests. The global market for veterinary diagnostics has been dominated by the canine segment. The market for veterinary diagnostics has grown globally as a result of higher adoption rates of dogs. Additionally, rising rates of diseases including obesity, diabetes, cancer, and others are significantly boosting market growth in canine segment.
Excerpts from 'By Region'
Geographically, the global veterinary diagnostics market is segmented into:
- North America
- Europe
- Asia Pacific
- Rest Of The World
The global market has been dominated by North America. It is expected that the expanding availability of healthcare services and the expansion of initiatives to improve animal health will increase the growth potential in North America. For instance, the North American Pet Health Insurance Association is dedicated to increasing public understanding of pet health insurance. It is also predicted that effective responses taken by animal welfare organizations in the case of a crisis or rapid disease breakout will assist market expansion in North America. The Asia Pacific market is predicted to grow at the fastest rate during the projection period. A robust demand for animal care and rising pet adoption rates are the key factors projected to fuel the regional market progress.
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Excerpts from 'Competitive Landscape'
Some of the prominent players operating in the global veterinary diagnostics market are
- Zoetis, Inc
- Thermo Fisher Scientific, Inc
- Heska Corporation
- Neogen Corporation
- Virbac Technology Health India Pvt. Ltd
- Bionote Inc
- Fujifilm Holdings Corporation
- Agrolabo S.P.A
- Fassisi GmBH
- Biomerieux SA
- Idexx Laboratories, Inc
- DRE Veterinary
- Randox Laboratories
- Shenzen Mindray Bio-Medical Electronics Co. Ltd
- VCA Antech Inc
- iM3Vet Pty Ltd
- IDvet
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Base Year - 2021
- Historical Years - 2020
- Forecasted Years - 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- GLOBAL VETERINARY DIAGNOSTICS MARKET - ANALYSIS & FORECAST, BY PRODUCTS
- Instruments
- Consumables and Reagents
- GLOBAL VETERINARY DIAGNOSTICS MARKET - ANALYSIS & FORECAST, BY TECHNOLOGY
- Immunodiagnostics
- Clinical Biochemistry
- Molecular Diagnostics
- Hematology
- Others
VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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