Dec 28, 2017   SOURCE: PR NewsWire

Veterinary Diagnostics Market - Expected to Reach $3.2 Billion by 2022

DUBLIN, Dec. 28, 2017 /PRNewswire/ --

The "Veterinary Diagnostics Market by Product, Technology, Animal Type, and End User - Global Forecast to 2022" report has been added to Research and Markets' offering.

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The veterinary diagnostics market is expected to witness significant growth in the coming years, with a rising demand for animal-derived food products, growing number of livestock and companion animals, rising pet ownership in developed countries, growing demand for pet insurance and rising animal health expenditure, increasing incidence of zoonotic diseases, and growth in the number of veterinary practitioners & their income levels in developed economies. The global veterinary diagnostics market is projected to reach USD 3.26 Billion by 2022 from USD 2.31 Billion in 2017, at a CAGR of 9.3%. Untapped emerging markets such as China, Latin America, and India are expected to provide growth opportunities in the veterinary diagnostics market. China and India are expected to register the highest growth during the forecast period of 2017-2022. However, increasing pet care costs are expected to restrain the growth of this market to a certain extent.

The report analyzes the veterinary diagnostics market by product, technology, animal type, end user, and region. On the basis of product, the global market is segmented into consumables and instruments. The consumables segment accounted for the largest share in 2016. It is also expected to witness the highest growth during the forecast period. Based on technology, the market is segmented into clinical biochemistry, immunodiagnostics, hematology, molecular diagnostics, urinalysis, and other veterinary diagnostics. Immunodiagnostics segment accounted for the largest share of global veterinary diagnostics market in 2016. This segment is expected to register the highest growth during the forecast period. This growth is mainly attributed to the growing adoption of rapid lateral flow kits and ELISA test kits.

On the basis of animal type, the global veterinary diagnostics market is segmented into livestock and companion animals. The livestock segment accounted for the largest share while companion animals segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to growing pet population, rising pet ownership, increased demand for pet insurance, and rising pet healthcare expenditure. The market is further segmented, on the basis of end users, into reference laboratories, veterinary hospitals & clinics, point-of-care/in-house testing, and research institutes & universities.

Companies Mentioned 

    --  Abaxis, Inc.
    --  Heska Corporation
    --  Idexx Laboratories, Inc.
    --  Idvet
    --  Neogen Corporation
    --  Qiagen N.V.
    --  Randox Laboratories Ltd
    --  Thermo Fisher Scientific Inc.
    --  Virbac
    --  Zoetis, Inc.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Insights

7 Global Veterinary Diagnostics Market, By Product

8 Global Veterinary Diagnostics Market, By Technology

9 Veterinary Diagnostics Market, By Animal Type

10 Global Veterinary Diagnostics Market, By End User

11 Global Veterinary Diagnostics Market, By Region

12 Competitive Landscape

13 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/d5hjj9/veterinary

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SOURCE Research and Markets