Healthcare Guide

Veterinary Diagnostics Industry Garner US$ 5.4 Bn by 2026

Lehdistötiedote   •   Syys 25, 2019 12:13 EEST

Veterinary diagnostics have incorporated technologies and methods gained from human diagnostics and mainstream healthcare services to develop a fully-fledged co-dependent market that remains open to further innovation.The market is primarily driven by increasing veterinary care expenditures and the introduction of novel veterinary diagnostic instruments.

Tests are used to detect and identify various disorders in livestock. Veterinary diagnostics the processes are carried out using a number of techniques, including blood, feces and tissue samples. New techniques and techniques developed for human diagnosis are also being widely used in veterinary diagnostics. The immunodiagnose, hematology, molecular tests (including nucleic acid) and clinical chemistry are various techniques used for the veterinary diagnosis.

The veterinary diagnostics market has witnessed a massive shift with the development of novel and efficient diagnostic methods that can offer results in less than a day, and in some instances, during the examination. Novel technologies that have recently been developed can provide better speed, cost-effectiveness, and reproducibility, among many other benefits. Polymerase chain reaction (PCR) is widely popular for lab-based diagnosis for the detection of nucleic acids in a clinical sample, being a more efficient choice over other methods employed for screening, especially for the virulence typing of Avian Influenza A virus. Diagnosticians have tested different versions of PCR for several tests like multiplex PCR to distinguish between clusters of different viruses responsible for diseases in swine, and Real-Time PCR nested PCR (RT-PCR) for whole-genome sequencing of pestiviruses to segregate morbillivirus for an insertion sequence analysis of Mycobacterium paratuberculosis.

The progress of molecular biology has also led to the creation of innovative diagnostic tools. The detection of particular influenza virus strain and the practice of employing gold nanoparticles are some of the recent technological advancements in the veterinary diagnostics market. Modern biotechnology has also exhibited potential for protein sequencing of the target and can enable diagnosticians to alter DNA. DNA biotechnology in animal health has proven to be effective in stimulating food production and livestock trade. The North American market is speculated to control a sizable portion of the global veterinary diagnostics market due to the increasing demand for animal-derived foods from the region, surging animal health expenditure, increasing awareness regarding pet insurance, and rising animal population. After North America, Europe is the biggest market for veterinary diagnostics.

The veterinary diagnostics market report sheds light on the essential aspects of the industry and assesses the trends observed in the historical data to provide a detailed analysis of the global market. It studies the different areas of the industry to derive a forecast for the coming years. The study segments the veterinary diagnostics industry based on technology as Clinical Biochemistry, Hematology, Immunodiagnostics, Molecular Diagnostics, Urinalysis, and others, based on animal type as Companion and Animals Livestock, and based on end-user as Point-Of-Care Testing, Research Institutes & Universities, Reference Laboratories, and Veterinary Hospitals & Clinics.

The segmentation is intended to assist the reader in the formulation of profitable business strategies for the future. The demand for the market is expected to rise in the forecast period due to the mounting population of companion animals, increasing demand for animal-derived foods, increasing instances of animal zoonotic diseases, growing need for pet insurance & escalating animal health expenditure, the increasing number of veterinary practitioners and rising level of disposable income, especially in developed economies. The study analyzes the recent trends of the business to predict the potential growth of the sector and discusses the latest developments to help readers make lucrative business decisions.

The global veterinary diagnostics market is expected to record a stable growth rate in the forecast period. This report highlights the existing global scenario in key geographical regions that account for a significant portion of the industry. The major companies in the sector control a sizable share of the global veterinary diagnostics market. Some of the companies that have been profiled in this study include Abaxis, Inc., Biolas Health, Inc., IDEXX Laboratories, Inc., HESKA Corporation, Neogen Corporation, Zoetis Inc., Mindray Medical International Ltd., and GE Healthcare, among others.

This report also offers a competitive analysis of the veterinary diagnostics market to give a holistic view of the individual positions of the companies and the possible impact the new entrants may have on the valuation of the industry. The market has been established in numerous regions, although this report considers the information and trends relating to some critical areas for an in-depth analysis. The geographies covered here are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The report also focuses on the recent development of the industry and the surge in demand for the veterinary diagnostics market that can be expected in the forecast years. This study also offers the drivers and restraints of the market to help the reader devise better investment strategies.

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