Veterinary Infectious Disease Diagnostics Market Global Trends, Market Share, Industry Size, Growth,
The veterinary infectious disease diagnostics market is projected to value over USD 2.8 billion by 2026 end and register a CAGR of over 8% from the forecast period 2019-2026. The rise in the number o...
The veterinary infectious disease diagnostics market is projected to value over USD 2.8 billion by 2026 end and register a CAGR of over 8% from the forecast period 2019-2026.
The rise in the number of veterinary practitioners and increasing animal health expenditure has attributed to the growth of the market. Furthermore, advancements in veterinary infectious disease diagnostics tools are boosting the market growth. In addition, the growing cases of food and zoonotic and foodborne diseases is leading to more efficient diagnostic options, thus propelling the market. Advancements in the animal farming sector and positive societal approach towards animal have resulted in the expansion of the market.
The market is bifurcated into technology, animal type, infection type, and end-user. In terms of technology, immunodiagnostics is expected to dominate the growth of the market. Higher adoption of diagnostic products by farmers, government institutions and veterinarians is driving the demand of immunodiagnostics. Moreover, an increasing demand for accurate devices is augmenting the market growth.
In terms of animal type, the companion type is expected to lead the market during the forecast period. The rapid adoption of dogs, cats and rising animal disease control & prevention awareness bolster the demand of companion animals.
Based on infection type, viral infections segment dictates the market growth. Viral infections that spread through animals are dangerous to humans and other animals as well. Latest advancements in technologies to detect viral infections in animals is driving the market growth. The Lab on a Chip technology analyzes imbalances in body fluids like urine and blood which further augments the market.
Based on end-users, reference laboratories are expected to dominate the market growth. The rise in the number of samples for analysis coupled with rise in in-house testing is bolstering the market.
Regionally, North America is the global leader of the market. The rapid increase in the adoption of companion animals is driving the growth of the market in the region. Furthermore, an increase in healthcare spending on animals stimulates the market growth. Additionally, the presence of prominent players is positively influencing the market.
Asia-Pacific region is predicted to be a lucrative market for the manufacturers. The rise in disposable income and an increase in veterinary practitioners and clinics are propelling the market in the region.
Prominent players of the market are Agrolabo S.p.A, Demeditec Diagnostics GmbH, Genesig, InBios International, Inc., DRG Diagnostics GmbH, URIT Medical Electronic Group Co., QIAGEN N.V, IDEXX Laboratories, Thermo Fisher Scientific, Virbac, Zoetis, Inc., Randox Laboratories LTD, Creative Diagnostics and IDVet.
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Global Veterinary Infectious Disease Diagnostics Market Segmentation:
Lateral Flow Assays
Other Immunodiagnostics Products
By Animal Type
Other Companion Animals
By Infection Type
By End User
Veterinary Hospitals & Clinics
Research Institutes & Universities
Middle East & Africa
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Mergers and acquisitions are bolstering the market. Zoetis Inc. acquired Abaxis, Inc. in 2018. The move helped Zoetis to expand its diagnostic instrument portfolios
Heksa Corporation partnered with PetVet Care Centers in 2017. The collaboration helped them to strengthen the sell in-house laboratory diagnostic equipment in North America
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Key data-points affecting market growth
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