The global veterinary infectious disease diagnostics market is projected to reach USD 2.2 billion by 2024 from USD 1.4 billion in 2019, at a CAGR of 8.4%. The growth of this market is driven by the growing advancements in diagnostic devices, growth in the companion animal population, rising demand for pet insurance, growth in the number of veterinary practitioners in developed economies, and increasing disease control & disease prevention measures.
Some of the prominent players in the veterinary infectious disease diagnostics industry include IDEXX Laboratories, Inc. (US), Zoetis, Inc. (US), QIAGEN N.V. (Indical GmbH) (Germany), Thermo Fisher Scientific, Inc. (US), Neogen Corporation (US), Virbac (France), bioMérieux SA (France), IDVet (France), Randox Laboratories, Ltd. (UK), and Heska Corporation (US).
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Analysis of the developments in the veterinary infectious disease diagnostics market between 2016 and 2019 shows that product launches, market expansions, agreements, partnerships, collaborations, and acquisitions were the most widely adopted growth strategies by players in the market to strengthen their positions.
Idexx Laboratories, Inc. (US) dominated the veterinary infectious disease diagnostics market in 2018. The company offers a broad range of products integral to the market, which are used widely in key regions such as North America, Europe, Asia Pacific, Africa, and the Middle East. Idexx mainly focuses on the development of innovative products to further strengthen its position in the veterinary infectious disease diagnostics market. Some key offerings of the company include SNAP Pro analyzers, SNAP test kits, ELISA kits, SediVue Urine Analyzer, among other products.
Zoetis, Inc. (US) led at the second position in the veterinary infectious disease diagnostics industry in 2018. The company has a prominent presence in major markets, such as the US, Brazil, China, and Canada. To strengthen its current position and gain a larger share of the veterinary infectious disease diagnostics industry, the company focuses on enhancing the breadth of its product offering. The company also focuses on partnerships and expansions. For example, the company set up a manufacturing facility in China and is also developing infrastructure in Ethiopia, Uganda, and Nigeria.
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