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Global Veterinary Diagnostics Market is expected to showcase a CAGR of 6.91% over the forecast period i.e. 2017-2022

Press Release

The global veterinary diagnostics market was valued at US$ 2.91 billion in 2017 and is expected to reach US$ 3.71 billion by 2022 growing at a CAGR of 6.91% during the forecast period. Technically, veterinary diagnostics are non-invasive (without involving the application of instruments) methods used to examine the symptoms and identify the appropriate diseases specifically in animals. The veterinary diagnostics methods are mainly the adaptation of the existing technologies meant for humans.The major end users for the market are hospitals and clinics, reference laboratories, universities/research centres etc.

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Market Dynamics:
The following factors are significant in deciding the fate of the market:
Market Drivers:
Several disease outbreaks in animals, the appearance of new strains of pathogens and zoonotic diseases have increased the importance of this market.
Animal meat of various forms is commonly eaten regularly in the diets globally. Several diseases get transmitted to the consumers due to these. The increasing demand of safe meat has led to the increase in the number of food producing animals and consequently the availing of these diagnostic services. This has been one of the major drivers for the market.
Concern for the pets and treating them as family members has also boosted the market.

Market Restraints:
Shift towards vegetarian diets has hindered the growth of the market in many places.
Economic crises and ignorance of these diagnostic services in many economically and technologically backward regions is also a major challenge for the market.
High cost of these procedures is also a setback.

Market Opportunities:
Market opportunity mainly lies in the revamping the existing technologies, lowering the costs and educating more and more people about these services.

Market Segmentation:
The market can be segmented into the following categories:
On the basis of product:
On the basis of technology:
Clinical biochemistry
Molecular diagnostics
On the basis of animal type:
Companion animals
On the basis of the geographic distribution of the markets:
North America
Latin America
Asia Pacific
The Middle East and Africa

Geographic Analysis:
North America dictates the global market followed by Europe and the Asia Pacific. However Asia Pacific is predicted to register the highest CAGR in the forecast period. Growth here is attributed mainly to the fast developing nations like India and Africa.

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Key Players:
Some of the key players in the market are:
IDEXX Laboratories
Heska Corporation
Neogen Corporation
Thermo Fisher Scientific Inc.

Report Contents Regional Analysis Report Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Rest of Eastern Europe
Asia Pacific
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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