The global veterinary infectious disease diagnostics market exhibited strong growth during 2015-2020.
Looking forward, the analyst expects the market to grow at a CAGR of around 9% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Farm and companion animals are commonly exposed to diseases that can spread to humans and cause zoonotic diseases. As a result, various veterinary infectious disease diagnostic technologies are used to evaluate the health of animals, detect diseases, provide effective treatment, and reduce the risk of cross-contamination. These technologies generally include cytology, bacteriological culture, immunohistochemical stains, fecal examination, and nucleic acid amplification. They are cost-effective, easy to use and have high-throughput detection capabilities. Furthermore, with the advent of molecular diagnostics, such as enzyme-linked immunosorbent assay (ELISA), polymerase chain reaction (PCR), microarrays, and sequencing technologies, the characterization of new, unknown viruses can be achieved.
Veterinary Infectious Disease Diagnostics Market Trends: The rising trend of nuclear families and inflating income levels are significantly contributing to the adoption of companion animals and influencing pet ownership and humanization worldwide. This represents one of the key factors fueling the market growth. Moreover, the increasing sales of pet insurance on account of the growing concerns among pet parents about the well-being of their pets is catalyzing the demand for veterinary diagnostics to detect infectious diseases. Besides this, the increasing consumption of animal-derived products around the world, along with rising concerns about food safety and the growing instances of zoonotic diseases among animals, is driving the market. Veterinary infectious disease diagnostics services monitor the health of agricultural animals and prevent human exposure to diseases. This, along with the spread of coronavirus disease (COVID-19) across the globe, has resulted in considerable growth in PCR testing to analyze the effect of the infection in animals. Apart from this, governing agencies of numerous countries are supporting veterinary practices and commercial animal-production programs, which is promoting the market growth.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global veterinary infectious disease diagnostics market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on technology, animal type, infection type and end user.
Breakup by Technology: Immunodiagnostics Molecular Diagnostics Others
Breakup by Animal Type: Companion Animals Food Producing Animals
Breakup by End User: Reference Laboratories Veterinary Laboratories and Clinics Point of Care/In House Testing Research Institutes and Universities
Breakup by Region: North America United States Canada Asia-Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Biomérieux SA, Creative Diagnostics, HESKA Corporation, Innovative Diagnostics, IDEXX Laboratories Inc., Neogen Corporation, Qiagen N.V., Randox Laboratories Ltd, Thermo Fisher Scientific Inc and Virbac. Key Questions Answered in This Report: How has the global veterinary infectious disease diagnostics market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global veterinary infectious disease diagnostics market? What are the key regional markets? What is the breakup of the market based on the technology? What is the breakup of the market based on the animal type? What is the breakup of the market based on the infection type? What is the breakup of the market based on the end user? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global veterinary infectious disease diagnostics market and who are the key players? What is the degree of competition in the industry?
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