Global Veterinary diagnostics market: Companion animals such as cats, dogs, horses have to play an important part in the lives of many people. The animals provide companionship, demand care and attention and respond with affection. Increasing various zoonotic diseases, rapid expansion of swine flu, bird flu is expected to create potential opportunities for the animal diagnostics market.
Increasing adoption of advanced technologies to diagnose the diseases enables create demand for global animal health diagnostics market. Moreover, increased demand for meat and dairy products are expected to attract the demand for veterinary diagnostics. Rising demand for minimally invasive diagnostic methods coupled with availability of novel products expected to fuel the market revenue for global veterinary molecular diagnostics devices. Surge in the companion animal adoption coupled with rising disposable income expected to boost the global animal health diagnostics market. However, stringent regulations such as prohibit the veterinary OTC medicine, higher cost of the products are expected to acts as major road blocks for the market revenue growth.
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The global veterinary molecular diagnostics market is divided into following categories-
1. Product type
• Hematology tests
• Clinical chemistry
• Molecular testing.
2. Animal type
o Poultry ELISA
o Poultry PCR
o Swine ELISA
o Swine PCR
• Veterinary Hospitals
• Veterinary Clinics
• Research laboratories
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And lastly, on the basis of geographical regions, the global veterinary molecular diagnostics market has been segmented into following regions- North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. U.S. animal diagnostics market is expected to account for major regional revenue share due to increased awareness coupled with rising pet adoption. Increasing spending on companion animals are also expected to boost the market. France, Germany, UK are expected to offer lucrative opportunities for Europe animal health diagnostics market. Increase applications of molecular and serological diagnostics in veterinary parasitology are expected to create demand for global animal diagnostics market. Emerging nations in Asia pacific such as China, India are expected to contribute significant revenue for global animal diagnostics devices market. Many other countries are witnessing very high rates of companion animal ownership, including emerging markets such as China, Brazil, India, Mexico, and Russia. Continuous increase in the spending on companion animals is majorly drives market growth.
Global veterinary molecular diagnostics market dominated by key players such as Mindray Medical International Ltd., ABAXIS, Inc., Biocheck smart veterinary diagnostics, Zoetis, Inc., Neogen Corporation, Bio rad veterianry diagnostics, HESKA Corporation, IDVET, Biomerieux veterinary diagnostics, IDEXX Laboratories, Inc., Thermo Fisher Scientific Inc. (Life Technologies Corporation), VCA Antech, Inc., Virbac SA, Cal biotech. Some of the market developments include BioCheck launching two new PCR test kits in 2017. These are new castle disease virus multiplex RNA test kit, and multispecies campylobacter multiplex DNA test kit.
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Veterinary molecular diagnostics market is consolidated with few players controlling by far the majority market share. The veterinary healthcare market is experiencing considerable mergers and acquisitions. Development of novel technologies and expanded applications to the veterinary healthcare is expected to fuel market demand. Large number of mergers in animal healthcare had undertaken, such as Pfizer, Merck, Sanofi. Merial is formed in 1997 as a joint venture of Ssanofi’s Rhone Merieux and Merck’s MSD AgVet.
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