According to the report “Veterinary Diagnostics Market” published by Market Data Forecast, the global market is projected to reach USD 6178.34 Million by 2020, at a CAGR of 8.6% from 2015 to 2020.
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The Global Veterinary Diagnostics market has seen an exemplary shift in the past few years with the advent of new and technologically advanced products that had a positive impact on the overall progress of the market. Further, the rise in extensive application of In-vitro diagnostic (IVD) instrumentation and products to veterinary healthcare along with the possibility to transfer various assay forms, analytes and analysers from the clinical space to the veterinary clinic and laboratory are adding to the market growth.
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The growth in this market is mainly attributed to factors such as upsurge in global animal healthcare expenditure, rising pet adoption, growing demand for animal-derived food products, increasing number of veterinary practitioners and their growing income levels in developed regions, increasing demand for pet insurance, and rising awareness about zoonotic diseases.
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The global veterinary diagnostics market is segment as follows:
1) By Product:
•Blood Gas Electrolyte Analysis
•Other Molecular Diagnostics Tests
•Ultrasound Imaging Systems
•Lateral-Flow Strip Readers
•Lateral-Flow Rapid Tests
•Allergen specific Immunodiagnostic Tests
2) By Animals:
•Other Veterinary Diagnostics
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Some of the key players operating in the global veterinary diagnostics market are Bio-Rad Laboratories Inc., VCA Inc., Heska Corporation, Abaxis, Inc., VIRBAC, IDEXX Laboratories, Inc., Life Technologies Corporation, Prionics AG, and Pfizer, Inc.
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