Europe Veterinary Diagnostics Market is poised to touch $1716.34 Million by 2020 with a CAGR of 7.97% | Market Data Forecast

According to the report Europe Veterinary Diagnostics Market, published by Market Data Forecast, The market is estimated to reach $1716.34 Million by 2020 at a CAGR of 7.97%.

The Europe Veterinary Diagnostics Market has seen an exemplar shift in the past few years with the emergence of new and technologically advanced products, which had an optimistic impact on the overall growth of the market. Diagnostics provide tools for effective and rapid testing to undertake preventative or remedial measures for the health of the animal population. For instance, Food animal diagnostics assist in livestock and production animal preventive care and complement other measures such as vaccination and selective breeding. Similarly, lateral flow and other rapid tests are used in veterinary medicine to test commercial livestock (large animals - cows, poultry, sheep, pigs, etc.) and household pets (cats, dogs, etc.) to test for the presence of a variety of medical conditions caused by bacteria, viruses, allergies, and fertility issues.

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The European Parliament and the Council adopted the Regulation on transmissible animal diseases (“Animal Health Law”) in March 2016. The Regulation will be applicable in the next 5 years and it’ll support the EU livestock sector in its quest towards competitiveness and safe and smooth EU market of animals and of their products, creating growth for the veterinary diagnostics market. Veterinary diagnostic products are as complex as they are difficult to manufacture. Many of the poultry and livestock diagnostic products are biologic products which demand materials from living organisms. Market development for companion animal diagnostic has depended heavily upon the purchasing and usage of in-clinic analysers or diagnostic instruments used at veterinary practices.

Immunodiagnostics is the segment with highest growth owing to the increase in the number of foodborne diseases affecting the animals and the need to perform various tests has increased gradually. In retrospect, the market for Molecular diagnostics is also expected to grow at a higher rate. Increase in purchase and usage of various diagnostic instruments that are utilized in veterinary practices, in-clinic diagnostic procedures, high income households that keep pets and regularly visit veterinary laboratories are propelling the growth of this market. However, increasing adoption of vegetarian food due to changing food habits, the economic downturn, the increasing risk of obesity, exposure to global cuisines, and other diseases are some of the factors affecting the growth.

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Europe Veterinary Diagnostics Market: Segmentation
By Product
• Clinical Chemistry
o Urine Analysis
o Glucose Monitoring
o Blood Gas Electrolyte Analysis
• Molecular Diagnostics
o Micro Arrays
o PCR Tests
o Other Molecular Diagnostics Tests
• Haemotology
o HaemotologyAnalysers
o HaemotologyCatridges
• Diagnostic Imaging
o Radiography Systems
o Ultrasound Imaging Systems
o CT Scanners
o MRI Scanners
• Immunodiagnostics
o Immunoassay Analysers
o ELISA Tests
o Lateral-Flow Strip Readers
o Lateral-Flow Rapid Tests
o Allergen specific Immunodiagnostic Tests
By Animals
• Companion Animals
o Canine Diagnostics
o Feline Diagnostics
o Other Veterinary Diagnostics
• Food-Producing Animals
o Bovine Diagnostics
o Porcine Diagnostics
o Ovine Diagnostics
o Poultry Diagnostics
o Piscine Diagnostics

Some of the key players in the industry include VCA Inc., Heska Corporation, Abaxis, Inc., VIRBAC, IDEXX Laboratories, Inc., Life Technologies Corporation, Bio-Rad Laboratories Inc., Prionics AG, and Pfizer, Inc.

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Reasons to buy Europe Veterinary Diagnostics Market Report:
• Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
• Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
• Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

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