1h Free Analyst Time
Global Veterinary Diagnostic Devices Market: About this marketSpeak directly to the analyst to clarify any post sales queries you may have.
The author's veterinary diagnostic devices market analysis considers sales from companion animals and livestock types. Our study also finds the sales of veterinary diagnostic devices in Asia, Europe, North America, and ROW. In 2019, the companion animal segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing pet ownership and the rising healthcare expenditure will play a significant role in the companion animal segment to maintain its market position. Also, our global veterinary diagnostic devices market report looks at factors such as high prevalence of infectious diseases in animals, growth in number of veterinarians and their income in developed countries and increasing number of new product launches. However, high costs associated with pet care, geopolitical uncertainties, and intense competition among vendors may hamper the growth of the veterinary diagnostic devices industry over the forecast period.
Global Veterinary Diagnostic Devices Market: Overview
High prevalence of the infectious disease in animals
The high prevalence of infectious diseases in livestock and companion animals has emerged as a major concern in recent years. This is directly contributing to the sales of various diagnostic devices including the blood glucose monitors, tonometer’s, laryngoscopes, hematology analyzers, and blood glucose monitors. In addition, effective management and control of infectious diseases have become crucial for preventing and safeguarding agronomic health. This, in turn will lead to the expansion of the global veterinary diagnostics devices market at a CAGR of almost 9% during the forecast period.
Rising demand for pet insurance with growing animal health expenditure
Pet insurance includes the specialty property and casualty insurance policies purchased by pet owners to cover the unplanned healthcare costs associated with pets. Pet insurance providers mostly offer reimbursement-based programs, where pet owners can submit a claim for pet healthcare expenses incurred by them and the pet insurance companies reimburse the amount. With the rising cost of animal healthcare, people are increasingly relying on pet insurance to reduce the direct financial burden on them. Therefore, the increasing demand for pet insurance among pet owners and the marketing efforts by pet insurance companies are expected to support the growth of the global veterinary diagnostics devices market during the forecast period.
Competitive Landscape
With the presence of several major players, the global veterinary diagnostic devices market is highly fragmented. The author's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading veterinary diagnostic devices manufacturers, that include 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.
Also, the veterinary diagnostic devices market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Table of Contents
PART 01: EXECUTIVE SUMMARYPART 07: CUSTOMER LANDSCAPEPART 09: DECISION FRAMEWORK
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY TYPE
PART 08: GEOGRAPHIC LANDSCAPE
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
List of Exhibits
Executive Summary
The author recognizes the following companies as the key players in the global veterinary diagnostic devices market: 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.Commenting on the report, an analyst from the author said: “The latest trend gaining momentum in the market is the rising demand for pet insurance with growing animal health expenditure.”
According to the report, one of the major drivers for this market is the high prevalence of the infectious disease in animals.
Further, the report states that one of the major factors hindering the growth of this market is the high costs associated with pet care.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- AMETEK Inc.
- bioMérieux SA
- EKF Diagnostics Holdings Plc
- Halma Plc
- Heska Corp.
- HORIBA Ltd.
- IDEXX Laboratories Inc.
- Revenio Group Oyj
- Virbac SA
- Zoetis Inc.
