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(Health-NewsWire.Net, March 23, 2020 ) Market Overview
The Global Veterinary Diagnostics market was valued at USD xx million in 2016 and is forecasted to reach USD xx million by 2025, with a CAGR of 8.90% during the forecast period (2018-2025).
Market Growth
The Veterinary Diagnostic is the medical testing for infectious agents, toxins, and other causes of disease in animals. The market is impacted by several factors. Increase in pet adoption in both developed and developing countries is one the primary driving factor for Veterinary Diagnostics Market.
What are the critical application segments of Veterinary Diagnostics Market?
Increasing Pet Ownership:
Growing Awareness towards animal health has led to an increase in demand for advanced veterinary diagnostic technologies.
According to a household survey, held between 1996 and 2012 spending on pet health care rose faster by over 60% compared to 49%. Globally, 57% of consumers own pets (according to more than 27,000 online consumers whom GfK surveyed in 22 countries).
It is estimated that the total American pet industry expenditure for 2017 will reach 70 billion, up from 67 billion in 2016. Supplies, over the counter medicine, and vet care accounted for just over 30 billion of 2016.
Part of the reason behind the increased spending on pet care is the rise in the number of households that have a pet. The name has risen steadily to the point that 62% of American families now own at least one pet.
US Pet Expenditure continues to rise from 2004-2015 as an increase in pet adoptions. Overall support for shelters and animal welfare organizations has grown over the last few years and will continue to gain momentum throughout 2014.
According to Bob Vetere, president, and CEO of the American Pet Product Association, Americans spent a record 15.4 billion on vet services last year, up from 8.6 billion in 2005.
Globally, a rise in pet adoption rates is profoundly influencing the growth of veterinary diagnostics due to the humanization of pets.
The scope of this report
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
Veterinary Diagnostics Market is segmented based on
By Product Types
Analyzers
Consumables
By Animal Types
Livestock
Companion
By Technology
Enzyme-Linked Immunosorbent Assay (ELISA)
Radioimmunoassay
Rapid Test
Others.
Based on Applications
Infectious Disease
Autoimmune Disorder
Endocrinology& Oncology
Bone and Mineral Diseases
Others.
By End User
Reference Laboratories
Academic and Research Institutes
Veterinary Hospitals & Clinics
Point of care/ In-house testing.
Geographical Analysis
North America
Europe
South America
Asia Pacific
The Middle East and Africa
Key Players
The report profiles the following companies, which includes
Pfizer
Thermo Fisher Scientific
Henry Schein
Virbac
Others
View full report: https://www.datamintelligence.com/research-report/veterinary-diagnostics-market
Download free sample: https://www.datamintelligence.com/download-sample/veterinary-diagnostics-market
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