Asia Pacific Veterinary Diagnostics Market

Asia Pacific Veterinary Diagnostics Market Size and Growth Rate Analysis:

According to latest market research report, Asia Pacific Veterinary Diagnostics Market was estimated at USD 572 million in 2018 and is expected to reach USD 1,216 million by 2025, increasing at a compound annual rate of CAGR 11% over the forecast period 2018-2025.

Veterinary diagnoses are the tests that help to identify and identify various disorders in animals. Several new technologies of human diagnostic segments are being adapted for the veterinary field. These procedures are performed using various methods by collecting blood, stool and tissue samples. New methods and technologies developed for human diagnosis are also widely used in veterinary diagnostics. Several methods used in veterinary diagnosis include immunodiagnostics, hematology, molecular tests (including nucleic acid tests) and clinical chemistry. Other methods used for this purpose include enzyme-linked immunosorbent assay (ELISA), lateral flow tests, indirect immunofluorescence assay (IFAT), complement fixation, agglutination, Western blot, polymerase chain reaction (PCR) and microarrays.

Growth Drivers, Challenges and Opportunities of Asia Pacific Veterinary Diagnostics Market

The Asia Pacific market for veterinary diagnostics is increasing due to the need to control bacteria resistant to antibiotics, growing awareness of animal health in emerging economies and more investments in developing countries. In addition, an increase in high income homes that have pets and regular visit to the veterinary laboratories will stimulate the growth of this market. Clinical diagnoses result in the increased number of animals diagnosed with state-of-the-art equipment and procedures to ensure accurate and timely outcomes.

The development of new and innovative products developed for enhanced R&D facilities and companies to improve their portfolio of products is driving growth in the field of Asia Pacific veterinary diagnosis. The largest use of nanotechnology in veterinary diagnoses, the revised application of human diagnostics to veterinary diagnosis and the increased demand for precise and rapid molecular diagnostics are among the main trends in the regional market.

The growth of this market depends on many market factors, including the increase in the number of procedures for clinical diagnosis and the purchase and use of various diagnostic tools used in veterinary practice. The final cost of animal testing ultimately leads to high medical. The free nature of public health services causes the public to be protected against their own health costs, and the private nature of veterinary care does nothing that is subsidized or concealed.

The high cost is due to the high cost of medical equipment, which acquires and manages mainly examination centers, ranging from blood tests to physiological monitors (electrocardiograms, anesthesia monitors, etc.), diagnostic techniques by image (x-rays, anesthesia monitors, etc.). Although it may be possible to provide some type of treatment to your budget, the success rate may be lower if we do not have the correct diagnosis, the therapeutic effect and the results are poor. A small number of pet owners are willing to pay a high price, but the figures are very limited. As new and cutting-edge products grow in the veterinary diagnostic market, the veterinary diagnostic market can grow at a considerable pace during the forecast period. In addition, the untapped mass markets of the veterinary diagnostic industry in developing countries of this region offer many opportunities to grow at a significant pace in the future.

Geographical Insights of Asia Pacific Veterinary Diagnostics Market

The Asia-Pacific is the fastest-growing region of the global veterinary diagnostics market. The fastest growth in the regional market is mainly due to the increase in the number of pets due to increasing urbanization and increasing per capita income in the emerging economies in this vicinity. The Asia-Pacific region is expected to experience maximum CAGR growth due to rising awareness of livestock health and the widespread adoption of nutritious feed additives, medicines and vaccines for animal welfare. In addition, the market is also growing due to increasing adoption of pets and focus on the animal health in emerging countries, such as India and China, in the Asia Pacific region.

Few of the Key Players dominating the Asia Pacific Veterinary Diagnostics Market Profiled in the Report are:

• ABAXIS, Inc.
• Thermo Fisher Scientific Inc.
• Heska Corporation
• VCA, Inc.
• Neogen Corporation
• Zoetis Inc.
• ID.Vet.

Other Important players:

• IDEXX
• Mindray Medical International Ltd
• Virbac
• GE Healthcare
• Agfa Healthcare

This research report includes following segmentation for the Asia Pacific Veterinary Diagnostics Market size and forecast 2018-2025

Asia Pacific Veterinary Diagnostics Market - By Product:

• Vaccines
• Parasiticides
• Anti-infectives
• Medical Feed Additives
• Others

Asia Pacific Veterinary Diagnostics Market - By Animal Type:

Farm animal

• Ruminants
• Swine
• Poultry
• Others

Companion Animal

• Dogs & Cats
• Horse
• Others

Asia Pacific Veterinary Diagnostics Market - By End User:

• Hospitals
• Veterinary Clinics
• Research Institutes
• Reference Laboratories

Asia Pacific Veterinary Diagnostics Market - By Region:

Asia-Pacific

• China
• Japan
• India
• South Korea
• Australia
• Rest of APAC