The veterinary diagnostics are tests, which help in determining and detecting various disorders associated with animals. The diagnostic tests are performed by taking the blood, feces, and tissue samples, of animals. The increased pet ownerships with improving urban lifestyle and many shifting from towns to urban localities across developed and emerging markets drive the demand for veterinary healthcare as well as its diagnostics. Also, the rise in zoonotic and foodborne diseases, have increased the responsibility of owners and animal healthcare organizations to invest more in their healthcare. Apart from that, there are many private insurance companies in developed markets which are attracting owners and companies driving the market of vertinary diagnostics. However, increased pet care costs and substandard veterinary healthcare facilities acts as among the major restriants for the veterinary diagnostics market.

Key Market Trends

Molecular Diagnostics are Estimated to Grow Fastest by Technology, Over the Forecast Period

Growing importance is now been given to rapid tests, which helps in providing results within 24 hours or during the initial examination period of an animal. Molecular diagnostics are therefore very powerful diagnostic tools for both farm animals and pets to protects the animals from infectious diseases such as influenza. There are certain programs/initiatives run by veterinary healthcare companies to improve upon animal disease control, thus, enhancing their biotechnology scope. The studies involve manipulation of DNA through facilities to improve upon protein sequencing of the target and recombinant DNA technologies. Thus, molecular diagnostics are increasingly playing an important role in veterinary diagnostics, thus, estimated to grow fastest over the forecast period.

North America is Estimated to Have Largest Share in the Global Market

The United States and Canada have a growing number of people adopting pets and several facilities provide proper pet care services in major cities of these countries. With increasing urban nature of the societies and more investments towards animal as protection of their household as well as improving upon human-animal relationship, drives the market of veterinary diagnostics in this region. Also, the steady importance given to agricultural contribution to these countries makes the owner more responsible for better care of farm animals. The healthcare expenditure compared to other countries, also fuels the market growth in North America. Thus, it should hold a major share of the market, over the forecast period.

Competitive Landscape

The major market players are focusing on imporved diagnostics techniques for animal care, specially protecting the aniamls from diseases from changing weather conditions. Some of the major players in the market are Abaxis Inc, Biom?rieux SA, Idexx Laboratories, Virbac and Zoetis, Inc, among others.

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