(PharmaNewsWire.Com, December 16, 2017 ) According to the report Asia Pacific Veterinary Diagnostics Market, published by Market Data Forecast, The market which is at $723.93 million in 2015 is poised to reach $1161.13 Million by 2020 at a CAGR of 9.91%. In recent years it has seen a tectonic shift 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, 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. Food animal diagnostics assist in livestock and production animal preventive care and complement other measures such as vaccination and selective breeding.
Coming to the Asia-Pacific market, animal diseases are a major and increasingly important factor reducing livestock productivity especially in developing countries like India. While in many areas traditional methods are still widely used but most of them turn out to be ineffective or too slow to have any direct influence on clinical management of a particular case, providing results after several days. Thus the focus in the development in animal disease diagnostics has been toward rapid methods that can provide a conclusive answer.
Immunodiagnostics is expected to grow at a higher CAGR due to the increase in the number of foodborne diseases affecting the animals resulting in the increasing need to perform various tests. The market for Molecular diagnostics is also expected to grow due to the wide scope it provides over the likes of immunodiagnostics. 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 are some of the factors affecting the growth.
Asia-Pacific 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 Haemotology Analysers o Haemotology Catridges 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.
Reasons to buy Asia-Pacific 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 Porters 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
About Us: Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and skillset dedicatedly serve clients from various industries and regions.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including: