Animal Diagnostics Market to Witness Significant Rise in Revenue during 2020-2025

The global animal diagnostics market is projected to observe substantial growth over the coming years due to the several technological advancements happening in the field of molecular biology. Citing an instance, the PCR (polymerase chain reaction) is observing heavy usage for pathogens’ genome sequencing to create elements that are used in parasite control, biological research, and disease diagnosis. Likewise, extensive usage of isothermal technology due to its cost efficiency, size, as well as complexity related to point-of-care testing is also one factor fostering growth.

Technological development in diagnostic tools for animal diseases powered by advancements in molecular biology are playing a crucial role in overall growth of the animal diagnostics market. For instance, isothermal technology is one of the prominent techniques which offers point-of-care testing with reduced cost and complexity. Moreover, it also performs reactions at a fixed temperature using isothermal chemistries which eliminates the need of thermal regulation as needed in other traditional methods.

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Animal diagnostics market is estimated to witness a tremendous growth over the projected time frame of 2019 to 2025, considering the rising adoption of pets along with growing awareness regarding animal care. Additionally, increasing expenditure on pet care owing to rising disposable incomes is also likely to provide positive growth aspects for the industry.

With respect to technology, the clinical biochemistry segment is expected to witness significant revenue expansion over the analysis period due to increasing government efforts towards the preservation of endangered species and the growing need for value-based veterinary care. In fact, the segment dominated the market in 2018, account for a valuation of $1 billion. Moreover, the rising demand for enhanced veterinary care products as well as introduction of novel techniques across clinical laboratories is projected to push the overall segment share by 2025.

Clinical biochemistry segment had dominated the market in 2018 by recording a valuation of USD 1.0 billion owing to the increasing demand for value-based veterinary care and initiatives for preserving endangered species. Moreover, the segment is also expected to observe a significant growth due to rising demand for enhanced products for veterinary care and deployment of advanced techniques in clinical laboratories.

From a regional frame of reference, the Asia Pacific animal diagnostics market is likely to observe immense growth led by India. In fact, the India animal diagnostics market is projected to observe a significant growth rate of 12.4% over the analysis timespan. Increasing awareness regarding animal healthcare across the nation would be a prominent factor stimulating the regional market share.

Major industry players operating in animal diagnostics market are such as Thermo Fisher Scientific, IDEXX Laboratories, Zoetis, Abaxis, Qiagen, Heska Corporation, Virbac, Randox and Neogen are focused on adopting several strategies such as joint ventures, mergers, acquisitions and geographic expansion in order to gain a strong foothold in the market.

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Partial Chapter of the Table of Content

Chapter 4. Animal Diagnostics Market, By Technology

4.1. Key segment trends

4.2. Immunodiagnostics

4.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.2.ELISA

4.2.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.3.Lateral flow assays

4.2.3.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.4.Immunoassay analyzers

4.2.4.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.5.Others

4.2.5.1. Market size, by region, 2014 – 2025 (USD Million)

4.3. Clinical biochemistry

4.3.1. Market size, by region, 2014 - 2025 (USD Million)

4.4. Hematology

4.4.1. Market size, by region, 2014 - 2025 (USD Million)

4.5. Molecular diagnostics

4.5.1. Market size, by region, 2014 – 2025 (USD Million)

4.5.2.PCR

4.5.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.5.3.Microarrays

4.5.3.1. Market size, by region, 2014 – 2025 (USD Million)

4.5.4.Others

4.5.4.1. Market size, by region, 2014 – 2025 (USD Million)

4.6. Urinalysis

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