LOS ANGELES, July 11, 2019 (GLOBE NEWSWIRE) -- The global veterinary diagnostics market size is estimated to grow at CAGR above 7 % over the forecast time frame 2019 to 2026 and reach the market value around USD 5.4 billion by 2026.

Tests are used to detect and identify various disorders in livestock. Veterinary diagnostics the processes are carried out using a number of techniques, including blood, feces and tissue samples. New techniques and techniques developed for human diagnosis are also being widely used in veterinary diagnostics. The immunodiagnose, hematology, molecular tests (including nucleic acid) and clinical chemistry are various techniques used for the veterinary diagnosis.

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The market growth depends on different market drivers, such as increased numbers of in-clinical diagnostic methods, increased buy and use of diverse diagnostic tools used in veterinary practices. The development of this market will also be driven by the increased amount of homes in high revenue that maintain animals and frequently visit veterinary laboratories. The numbers of animals diagnosed with technological sophisticated equipment and processes ensures precise and rapid results are increased in clinical diagnostic practice and animal diagnosis.

The US market, Japan, Western Europe and other developed countries have been able to use sophisticated diagnostics, but most of the markets in developing countries stay mainly untouched. The US market dominates the worldwide market for veterinary diagnostics, with the highest market share and European market share. The Asia-Pacific and Latin American markets should be the most profitable growth-rate market as families prefer to maintain animals are increased. Due to their high animal density, the Middle East and Africa may prove to be the potential market for veterinary diagnoses.

The global human and animal populations and their wellbeing are significantly endangered by animal diseases. In order to avoid epidemics and spread of infection from animal to animal or animal to humans, these conditions should be monitored effectively. There is not a number of examples of animal diseases commonly found, such as brucellosis, flu, foot-and-mouth illnesses, respiratory and reproductive disorders, herpes and TB.

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Products like test kits, reagents, consumer medicines and equipment are included in animal diagnostics. Consumables in this sector are anticipated to show the greatest development in the forecast era with a CAGR of over 7%. A thorough understand of the demand for such products from veterinary clinics, hospitals, laboratories, etc. is the general veterinary diagnostic market. In addition, the demand for care diagnostics by pet owners on the market is growing.

The segment contains two wide categories: animal and animal accompanying. Various animal species are diagnosed in distinct medical circumstances, with cattle (beef and milk) dominating the animal health market being considered an enormous segment (e.g. cows, poultry, sheep, pigs etc.). While cats and dogs are regarded the top subdivision for accompanying livestock.

The segment of the test type is anticipated to thrive throughout the forecast period with the development of sophisticated techniques for animal diagnostics such as nucleic acid diagnosis, PCRs, biomarkers and biosensors. These methods have been adopted as routine diagnostic instruments by veterinary laboratories and health practitioners. Specific tests and the testing of big samples are useful.

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The end users such as the animal owners benefit valuablely from sophisticated technological instruments, such as internal analysers and diagnostic points of care for their comfort and fast outcomes. Point of animal care testing also shows development during the forecast horizon with a CAGR of approximately 7.5%. Today, the technology improves every day, and offers health experts and veterinarians huge possibilities to enhance health care for animals.

Key Players & Strategies

Main players in the market include Thermo Fisher Scientific Inc, Abaxis Inc, IDVet, Agrolabo SPA, Idexx Laboratories Inc, Neogen Corp, Merck, Heska Corporation, Qiagen N.V, Virbac Corp, Zoetis, IncIm3 Inc, VCA Antech and Henry Schein Inc. others.

These respondents are particularly involved in the introduction of new products, clinical / in-house analysers and point-of-service diagnostic instruments for animal health suppliers, veterinarian.

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