Veterinary Diagnostics Market by Product, Technology,

Dublin, June 22, 2021 (GLOBE NEWSWIRE) – The “veterinary diagnostics market by product (instruments, consumables), technology (immunodiagnostics (lateral flow, ELISA), clinical biochemistry, PCR, hematology, urinalysis), animal ( dog, cat, Cattle, Pigs, Poultry, Horses), End user – The Global Forecast to 2026 report “has been added to ResearchAndMarkets.com offer.

The veterinary diagnostics market is expected to reach USD 3.9 billion by 2026, compared to an estimated USD 2.5 billion in 2021, with a CAGR of 9.4%.

The growth of the market can be largely attributed to the growth of the pet population, the increasing incidence of cross-border and zoonotic diseases, the increasing demand for food products of animal origin, the increasing demand for insurance. for companion animals, increased animal health spending and the growth in the number of veterinarians. practitioners and income levels in developed economies. On the other hand, rising pet care costs are expected to dampen the overall market growth. Currently, the lack of qualified veterinarians and diagnostic infrastructure, especially in developing countries, is one of the main factors limiting the adoption of advanced diagnostic solutions among veterinarians. Another major obstacle to their widespread adoption is the high cost of advanced diagnostic tests.

COVID-19 – or coronavirus disease 2019 – is the illness that people contract from being infected with severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). Pets don’t contract COVID-19 like humans do, but under natural conditions, pet cats – and, to a lesser extent, companion dogs – can, although rarely, become infected with SARS -CoV-2 after close and prolonged contact with a Person positive for COVID-19. The number of vet visits and diagnostic tests decreased significantly in March, April and May 2020, but started to increase from the third quarter of 2020 with a high growth rate. It is expected to normalize in the second and third quarters of 2021. Therefore, the COVID-19 pandemic is expected to have a temporary and minimal impact on the veterinary diagnostics market during the forecast period.

Consumables accounted for the highest share of the global veterinary diagnostics market in 2020

Based on the product, the global veterinary diagnostics market is segmented into instruments and consumables. In 2020, the consumables segment accounted for the largest share of the global veterinary diagnostics market. The large share of the consumables segment can be attributed to the recurring purchase of diagnostic kits and reagents due to the increasing volume of diagnostic tests, increasing incidence of various infectious diseases and increasing veterinary expenses.

Immunodiagnostics segment occupies the highest share of the global veterinary diagnostics market during the forecast period

Based on technology, the global veterinary diagnostics market is segmented into immunodiagnostics, clinical biochemistry, molecular diagnostics, hematology, urinalysis, and other veterinary diagnostic technologies. The large share of this segment can primarily be attributed to the widespread popularity of immunodiagnostics in disease diagnosis as well as in screening disease progression and observing patient responses to treatment. In addition, low cost, low complexity of procedures, and increased adoption of immunodiagnostics due to ease of training further drive the growth of this market segment. In addition, the recurring purchase of diagnostic kits and reagents due to the increasing volume of diagnostic tests, increasing incidence of various infectious diseases and increasing veterinary spending is expected to increase growth. In addition, the higher preference of veterinarians, pet owners and livestock breeders and the widespread applications of this technology contributes to the large share of the immunodiagnostic segment.

The companion animal segment dominated the global veterinary diagnostics market in 2020

Based on animal type, the global veterinary diagnostics market is segmented into companion animals and livestock. In 2020, the companion animal segment accounted for the largest share of the global veterinary diagnostics market. This can be attributed to the growing number of pets around the world, the willingness of owners to spend more on their pets, the growing adoption of pet insurance, and the availability of testing. less expensive and easy to use POC diagnostic tools for pets. .

Veterinary Reference Laboratories are the main end users in the veterinary diagnostics market

Based on the end users, the global veterinary diagnostics market is segmented into veterinary reference laboratories, veterinary hospitals and clinics, point-of-care testing / internal testing, and veterinary research institutes and universities. In 2020, Veterinary Reference Laboratories were the primary end-users of the veterinary diagnostics market. The large share of the veterinary reference laboratory segment can be attributed to the growing number of veterinary diagnostic reference laboratories, high test volumes in reference laboratories and the growing demand for veterinary diagnostic tests for infectious diseases. Moreover, the growing awareness of pet owners for routine and preventive care is further expected to propel the market growth.

North America accounts for the highest share of the global veterinary diagnostics market during the forecast period

North America accounted for the highest share of the global veterinary diagnostics market during the forecast period. The United States accounted for the largest share of the North American veterinary diagnostics market in 2020. The growth of the veterinary diagnostics market in North America is characterized by the increase in the population of pets and livestock, increased consumption of meat and dairy products, availability of technologically advanced veterinary reference laboratories, increased veterinary health spending and growth in pet insurance coverage.

Main topics covered:

1. Introduction

2 Research methodology

3 Executive summary

4 premium information
4.1 Veterinary Diagnostics Market Overview
4.2 Asia-Pacific Veterinary Diagnostics Market, by End User and Country (2020)
4.3 Veterinary Diagnostics Market: Geographic Growth Opportunities

5 Market overview
5.1 Presentation
5.2 Market dynamics
5.2.1 Market drivers
5.2.1.1 Growth of the companion animal population
5.2.1.2 Growing demand for food products of animal origin
5.2.1.3 Growing incidence of transboundary and zoonotic diseases
5.2.1.4 Growing demand for pet insurance and increasing spending on animal health
5.2.1.5 Growing Number of Veterinary Practitioners and Rising Income Levels in Developed Economies
5.2.2 Market restrictions
5.2.2.1 Rising Costs of Pet Care
5.2.3 Market opportunities
5.2.3.1 Increased use of PCr test panels to exclude COVID-19 virus in animals
5.2.3.2 Emerging untapped markets
5.2.4 Market challenges
5.2.4.1 Shortage of practicing veterinarians in developing markets
5.3 Industry trends
5.3.1 Adoption of multiple test panels
5.3.2 Outsourcing of veterinary diagnostic services
5.3.3 Growing Consolidation in the Veterinary Diagnostics Industry
5.4 Disease trends
5.5 Technological analysis
5.6 Price analysis
5.7 Impact of COVID-19 on the veterinary diagnostics market
5.8 Value chain analysis
5.9 Ecosystem Market Map
5.10 Porter’s five forces analysis
5.11 Supply chain analysis
5.12 Regulatory analysis
5.13 Patent analysis

6 Veterinary diagnostics market, by product

7 Veterinary Diagnostics Market, by Technology

8 Veterinary Diagnostics Market, By Animal Type

9 Veterinary Diagnostics Market, By End User

10 Veterinary Diagnostics Market, By Region

11 Competitive landscape

12 company profiles
12.1 Key players
12.1.1 Idexx Laboratories, Inc.
12.1.2 Zoetis, Inc.
12.1.3 Thermo Fisher Scientific, Inc.
12.1.4 Heska Company
12.1.5 Biomérieux SA
12.1.6 Neogen Corporation
12.1.7 Bio-Rad Laboratories, Inc.
12.1.8 Virbac
12.1.9 Indical Bioscience GmbH
12.1.10 Bionote inc.
12.1.11 Biogal Galed Labs
12.1.12 Agrolabo SPA
12.1.13 Idvet
12.1.14 Randox Laboratories Ltée.
12.1.15 Biocontrol
12.2 Other players
12.2.1 Fassisi GmbH
12.2.2 Alvedia
12.2.3 Skyer, Inc.
12.2.4 Shenzhen Bioeasy Biotechnology Co. Ltd.
12.2.5 Biopanda reagents

13 Annex

For more information on this report, visit https://www.researchandmarkets.com/r/vqza2d


        

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