Veterinary diagnostics are noninvasive methods used to identify and examine the causes of diseases in animals. Various new technologies from human diagnostics segments are being adapted for the veterinary domain.
The global Veterinary Diagnostics market was valued at $ XX Mn in 2018 and is forecasted to grow at a strong XX% CAGR between 2018 and 2026, resulting in 2026 global sales of $ XX. Market-driven by owing increasing demand for pet insurance & rising animal health expenditure. However, increasing pet care Costs is hindering the market growth. Moreover, development in the companion animal population is providing ample opportunities for market growth.
Veterinary Diagnostics depending on end-user, Veterinary reference laboratories segment is expected to account for the largest share of the Veterinary Diagnostics market due to a large number of samples received for analysis in reference laboratories from small and large animal practices.
The Global Veterinary Diagnostics Market is segmented on the basis of Technology, Animal Type, Product, End-User and regions.
Based on the Technology: Clinical Biochemistry, Urinalysis, Hematology, Immunodiagnostics, Molecular Diagnostics, and Other Veterinary Diagnostic Technologies.
Based on the Animal Types: Livestock Animals and Companion Animals.
Based on the Products: Consumables and Instruments.
Based on the End Users: Research Institutes & Universities, Point-Of-Care/In-House Testing, Veterinary Hospitals & Clinics, and Reference Laboratories.
Based on the regions: North America, Asia-Pacific, Europe, and LAMEA. Among that North America held the largest share of the market owing to the growing adoption of the companion animals, growing demand for animal-derived food products, and a growing number of veterinary practices in the US. Whereas, Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The large pool of livestock animals and growing awareness about animal health are driving the growth of this regional segment.
Report Description: The report covers in-depth analysis of the Global Veterinary Diagnostics Market. The report assesses the market products pipeline by stage of development (early development, pre-clinical, clinical and in approval), By Product (Consumables and Instruments). In addition, the report includes key insights on other development activities, including (but not limited to) – licensing (In and Out), collaborations, acquisitions, reimbursement, patent, and regulatory designations.
The report includes in-depth company profiles of key players in the Global Veterinary Diagnostics Market. The company profile includes key information on the overview, financial highlights, product portfolio, business strategies, and key recent developments.
The report highlights information on emerging companies with potentially disruptive technologies and new market entrants.
Data Collation (Primary & Secondary)
In-house Estimation (Based on proprietary databases and Models)
Market-related information is assembled from both primary and secondary sources.
Primary sources involved participants from all global stakeholders such as experts from several related industries and suppliers that have been interviewed to obtain and verify critical information as well as to assess prospects of the market. The participants included are CXOs, VPs, and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Secondary sources include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications annual reports press releases along with paid sources such as Factiva, OneSource, Bloomberg among others.
Top-down and bottom-up approaches: The overall market size was used in the top-down approach to estimate the sizes of other individual submarkets (mentioned in the market segmentation by product, type of manufacturing, and disease) through percentage splits from secondary and primary research. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained.