Veterinary Diagnostics Market to Hit 9.3% CAGR to 2023, Led by Animal Health Expenditure and Pet Insurance

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26 Jul, 2018, 18:00 BST

PUNE, India, July 26, 2018 /PRNewswire/ --

ReportsnReports added veterinary diagnostics market research, it includes the companies like IDEXX Laboratories, Inc. (U.S.), Abaxis, Inc. (U.S.), Neogen Corporation (U.S.), Heska Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Zoetis, Inc. (U.S.), QIAGEN N.V. (Netherlands), IDVet (France), and Virbac (France).

Browse 398 Market Data Tables and 40 Figures spread through 321 Pages and In-depth TOC on "Veterinary Diagnostics Market by Product (Instruments, Consumables),Technology (Clinical Biochemistry, Urinalysis, Immunodiagnostics, Hematology, Molecular Diagnostics), Animal (Dogs, Cats, Horses, Cattle, Pigs, Poultry), End User - Global Forecast to 2023" at http://www.reportsnreports.com/reports/280982-veterinary-diagnostics-market-by-products-clinical-chemistry-hematology-analyzers-molecular-diagnostics-immunodiagnostics-diagnostics-imaging-by-animals-companion-food-producing-dog-livestock-poultry-swine-global-forecast-to-2018.html .

The global veterinary diagnostics market is estimated to grow at a CAGR of 9.3% from 2017 to 2022, to reach USD 3.62 billion by 2022 from USD 2.31 billion in 2017. The growth of this market is mainly attributed to rising demand for animal-derived food products, growing demand for pet insurance, rising animal health expenditure, increasing incidence of zoonotic diseases, increasing awareness about animal healthcare, and increase in the number of veterinary practitioners and their growing income levels.

The veterinary diagnostics market is categorized into livestock and companion animals. In 2017, the companion animals segment accounted for largest share of the veterinary diagnostics market. The large share can be attributed to increasing companion animal ownership, growing awareness about animal health among pet owners, and rising pet healthcare expenditure.

Order the "Veterinary Diagnostics Market by Product (Instruments, Consumables), Technology (Clinical Biochemistry, Urinalysis, Immunodiagnostics, Hematology, Molecular Diagnostics), Animal (Dogs, Cats, Horses, Cattle, Pigs, Poultry), End User - Global Forecast to 2023" Report Now at http://www.reportsnreports.com/purchase.aspx?name=280982 .

The report analyzes the veterinary diagnostics market by product, technology, animal type, end user, and region. This is mainly due to the increasing adoption of companion animals, growing pet insurance purchases, increasing demand for animal-derived food products, and rising veterinary healthcare expenditure in the region.

Geographical Trends as Follows, 

  • Geographically, global veterinary diagnostics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East &Africa. In 2016, North America commanded a major share of the veterinary diagnostics market.
  • Growth in the Asia-Pacific market can be attributed to rising companion animal ownership, rising awareness about animal health, increase in demand for animal-derived food products, and growing per capita animal health expenditure.

Veterinary diagnostics market segmented into veterinary reference laboratories, veterinary hospitals & clinics, point-of-care/in-house testing, & research institutes & universities. Veterinary reference laboratories are estimated to account for largest share of market in 2018. The large share of this end-user segment is mainly due to large number of samples received for analysis in reference laboratories from small & large animal practices.

Download the Sample Brochure of Veterinary Diagnostics Market Research Now at http://www.reportsnreports.com/contacts/requestsample.aspx?name=280982 .

The report also covers product portfolio analysis of the veterinary diagnostic products & vendor benchmarking of top players in this market. In addition, this report highlights growth strategies adopted by major market players to garner large shares in veterinary diagnostics market. This report covers drivers, restraints, opportunities, challenges, and market trends.

Key Audience: 

  • Manufacturers and distributors of veterinary diagnostic products
  • Veterinary research and development (R&D) companies
  • Veterinary reference laboratories
  • Government associations
  • Market research and consulting firms
  • Venture capitalists and investors

Another research titled Veterinary Endoscopy Market is expected to reach USD 219.0 million by 2023 from USD 159.8 million in 2018, at a CAGR of 6.5%. The increasing use of endoscopes in the diagnosis of gastrointestinal diseases, rising number of veterinary endoscopy training programs, advanced applications of veterinary endoscopy, increasing pet insurance and growing animal health expenditure. The key players in the veterinary endoscopy market include KARL STORZ (Germany), Welch Allyn (US), STERIS (UK), Endoscopy Support Services (US), Olympus (Japan), Fujifilm (Japan), Eickemeyer (Germany), B. Braun (Germany), Biovision Veterinary Endoscopy (US), and Dr. Fritz (Germany) and it is now available with discount at http://www.reportsnreports.com/contacts/discount.aspx?name=1564549 .

Explore More Reports on Medical Devices Market Research at http://www.reportsnreports.com/market-research/medical-devices/ .

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