Veterinary Diagnostics Market Worth 4.00 Billion USD by 2023

Tuesday, July 24, 2018 Research News
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PUNE, India, July 24, 2018 /PRNewswire/ --

According to a new market research report "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
", published by MarketsandMarkets™, the market is expected to reach USD 4.00 billion by 2023 from an estimated USD 2.63 billion in 2018, at a CAGR of 8.8 %.

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Browse 398 market data Tables and 40 Figures spread through 321 Pages and in-depth TOC on "Veterinary Diagnostics Market"

https://www.marketsandmarkets.com/Market-Reports/veterinary-diagnostics-market-26017452.html

Early buyers will receive 10% customization on this report 

Factors such as growing companion animal population, growing prevalence of animal zoonotic diseases, rising demand for animal-derived food products, rising demand for pet insurance & growing animal health expenditure, and the increasing number of veterinary practitioners and income levels in developed economies are expected to drive the growth of the Veterinary Diagnostics Market.

The immunodiagnostics segment is expected to account for the largest share of the Veterinary Diagnostics Market in 2018 

On the basis of technology, the Veterinary Diagnostics Market is segmented into clinical biochemistry, immunodiagnostics, hematology, urinalysis, molecular diagnostics, urinalysis, and other veterinary diagnostic technologies. In 2018, the immunodiagnostics segment is expected to account for the largest share of the Veterinary Diagnostics Market. The large share can be attributed to the high accuracy of immunodiagnostic tests, high preference for these tests by veterinary practitioners, and its wide applications in veterinary diagnostics.

By animal type, the companion animals segment is estimated to account for the largest share of this market in 2018 

Based on animal type, the Veterinary Diagnostics Market is categorized into livestock and companion animals. In 2018, the companion animals segment is expected to account for the largest share of the Veterinary Diagnostics Market. The large share can be attributed to the increasing companion animal ownership, growing awareness about animal health among pet owners, and rising pet healthcare expenditure.

Veterinary reference laboratories are estimated to hold the largest share of the Veterinary Diagnostics Market in 2018 

On the basis of end user, the Veterinary Diagnostics Market is broadly segmented into reference laboratories, veterinary hospitals & clinics, research institutes & universities, and point-of-care/in-house testing. Reference laboratories are the major end users of diagnostic instruments and consumables and accounted for the largest share of the Veterinary Diagnostics Market in 2017, followed by veterinary hospitals and clinics, point-of-care/in-house testing, and research institutes. The large share of this end-user segment is mainly due to the large number of samples received for analysis in reference laboratories from small and large animal practices.

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North America is expected to dominate the market in 2018 

North America is estimated to account for the largest share of the Veterinary Diagnostics Market in 2018, followed by Europe. The large share can be attributed to the increasing animal population, rising demand for animal-derived food products, growth in pet insurance, and rising animal health expenditure in North America.

The key players in the global Veterinary Diagnostics Market are IDEXX Laboratories, Inc. (US), Abaxis, Inc. (US), Thermo Fisher Scientific, Inc. (US), Neogen Corporation (US), Heska Corporation (US), Zoetis, Inc. (US), QIAGEN N.V. (Netherlands), IDvet (France), bioMérieux SA (France), Virbac (France), Randox Laboratories Ltd. (UK), ARKRAY Group (Japan), URIT Medical Electronics Co., Ltd. (China), PZ Company S.A. (Poland), and Eurolyser Diagnostica GmbH (Austria).

Know more about the Veterinary Diagnostics Market:

https://www.marketsandmarkets.com/Market-Reports/veterinary-diagnostics-market-26017452.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/veterinary-diagnostics-market.asp

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SOURCE MarketsandMarkets



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