Veterinary Diagnostic Devices Market by Type and Geography - Forecast and Analysis 2020-2024
- Published: Nov 2019
- Pages: 156
- SKU: IRTNTR40082
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The global veterinary diagnostics market size has the potential to grow by USD 815.28 million during 2020-2024. The market’s growth momentum will accelerate throughout the forecast period.
This report provides a detailed analysis of the market by geography (Asia, Europe, North America, and ROW) and type (companion animals and livestock). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including AMETEK Inc., bioMérieux SA, EKF Diagnostics Holdings Plc, Halma Plc, Heska Corp., HORIBA Ltd., IDEXX Laboratories Inc., Revenio Group Oyj, Virbac SA, and Zoetis Inc.
Market Overview
Browse TOC and LoE with selected illustrations and example pages of veterinary diagnostics market
Market Competitive Analysis
The veterinary diagnostics market is fragmented, and the degree of fragmentation will increase over the forecast period. IDEXX Laboratories Inc., Revenio Group Oyj, Virbac SA, and Zoetis Inc. are a few of the significant market participants. Although the accelerating market growth momentum will offer immense business opportunities to the vendors, high costs associated with pet care will challenge the growth of many. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market positions, this veterinary diagnostics market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of the companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. This veterinary diagnostics market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading veterinary diagnostics companies, including:
- AMETEK Inc.
- bioMérieux SA
- EKF Diagnostics Holdings Plc
- Halma Plc
- Heska Corp.
- HORIBA Ltd.
- IDEXX Laboratories Inc.
- Revenio Group Oyj
- Virbac SA
- Zoetis Inc.
Veterinary Diagnostics Market: Segmentation by Region
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North America was the largest market for veterinary diagnostics in 2019. The rising animal healthcare expenditure, expansion of veterinary clinics and hospitals, and the presence of prominent vendors are fueling the growth of veterinary diagnostics market size in North America.
Over 49% of the overall market’s growth will originate from North America during the forecast period. The increasing pet ownership and rising number of pet insurance partnerships are expected to boost the demand for veterinary diagnostic devices in North America during the forecast period. The US is one of the key markets for the veterinary diagnostics market in the region. Market growth in this region will be faster than the growth of the market in Europe and ROW.
Veterinary Diagnostics Market: Segmentation by Type
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The increasing pet ownership and the rising healthcare expenditure associated with companion animals are increasing the demand for veterinary diagnostics devices. This will drive the growth of the veterinary diagnostics market over the forecast period.
The growth of the market in the companion animal segment is expected to be faster than the market’s growth in the livestock segment over the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the veterinary diagnostics market size.
Veterinary Diagnostics Market: Key Drivers and Trends
The prevalence of infectious diseases such as rabies, foot and mouth disease, brucellosis, and bluetongue is high among companion and livestock animals. This drives the need for effective management and control measures to prevent the spread of zoonotic diseases. As a result, there is a significant scope of growth for veterinary clinics and hospitals. This, in turn, has been increasing the demand for various diagnostic devices, such as hematology analyzers, blood glucose monitors, centrifuges, and laryngoscopes among veterinary facilities.
Compared with developing countries, veterinary facilities in developed countries are advanced with well-equipped critical care units, which has a significant influence on the veterinary diagnostics devices market growth. Identifying the notable market growth, vendors are focusing on new product launches to ensure sustainable presence in the competitive environment. These factors are directing the global veterinary diagnostics market size toward an exponential growth curve.
- The rising demand for pet insurance with growing animal health expenditure is one of the significant veterinary diagnostics market trends.
- The rising costs of animal healthcare have increased the need for pet insurance policies.
- The insurance companies mostly have reimbursement-based programs at present, aiding pet owners in covering unplanned healthcare costs.
- As a result, pet owners and livestock caretakers are not hesitating in availing healthcare services for animals.
- The pet insurance industry is rapidly growing in regions such as North America.
- These factors are contributing to the growth of the veterinary diagnostics market, which will register a CAGR of almost 9% during 2020-2024.
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Veterinary Diagnostics Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will accelerate the growth of the veterinary diagnostics market during the next five years
- Precise estimation of the global veterinary diagnostics market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the veterinary diagnostics industry in Asia, Europe, North America, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of veterinary diagnostics vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 2.1 Preface
- 2.2 Preface
- 2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Value Chain Analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
- Market Outlook
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY TYPE
- Market segmentation by type
- Comparison by type
- Companion animals - Market size and forecast 2019-2024
- Livestock - Market size and forecast 2019-2024
- Market opportunity by type
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- Asia - Market size and forecast 2019-2024
- ROW - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Growth in adoption of companion animals
- Growing awareness about animal health and welfare
- Rising demand for pet insurance with growing animal health expenditure
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- AMETEK Inc.
- bioMérieux SA
- EKF Diagnostics Holdings Plc
- Halma Plc
- Heska Corp.
- HORIBA Ltd.
- IDEXX Laboratories Inc.
- Revenio Group Oyj
- Virbac SA
- Zoetis Inc.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases

DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts

REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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