Asia Pacific Veterinary Diagnostics Market Size
Analysis
The Asia Pacific Veterinary Diagnostics
Market is anticipated to register a CAGR of around 11 % during the projected
period, 2018 to 2025. The market is expected to reach a value of USD 1,216 million
by the end of this period.
Asia Pacific Veterinary Diagnostics Market Growth
Drivers and Insights
The increasing meat
consumption, especially for chicken and pork, is adding to the vulnerability of
dangerous foodborne pathogens. Moreover, there is a risk of emerging new
stresses of influenza viruses, due to the large distance transportation of
animals. The farms are often in the same area, with a combination of confined
animals, which potentially improves the risk of avian influenza transferring to
pigs. The reassortment of the disease can lead to new strains and cause
epidemics among humans. Further, these farms raise the risk of spreading and
mixing of virus strains. Intensive farm systems are causing the risk of
emergence of these bacteria in the food, as stressed animals become more
susceptible to infection. The risk of zoonotic diseases is feeding the market
for Asia Pacific veterinary diagnostics. Inter-governmental organizations and
the food producers are making reforms to ensure health by the process of
surveillance and vaccination, spending in R&D, and shift with respect to pet
health.
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The veterinary diagnostics
market is gaining importance as a result of manufacturers concentrating on the
products with specific formulations and manufacturing processes. The value of
livestock animals is generating growth in the market as a consequence of more
people using meat and dairy products. The population boom and the stable economy
are anticipated to result in increased demand for protein-rich foods,
particularly in developing regions of the Asia Pacific. Animal health
organizations are well-positioned to address this increasing emerging market
demand for higher-protein diets.
Geographic Insights of Asia Pacific Veterinary
Diagnostics Market:
The vaccine segment in the
Asia Pacific market is expected to record a healthy CAGR during the forecasted
period due to the appearance of good healthcare infrastructure in the nation
and also increasing awareness among people is supporting market growth.
China, India, Japan, South
Korea, Australia, and others are among the prominent contributors to Asia
Pacific veterinary diagnostics market.
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Some of the key players covered in this Asia Pacific
Veterinary Diagnostics Market study are:
The eminent companies that
are supporting significantly to the revenue of the Asia Pacific market are
Zoetis Inc., Idexx Laboratories, Acon Laboratories, Qiagen N.V., Inc., Sysmex
Corporation, Fujifilm GmbH, Thermo Fisher Scientific Inc., Biomedical, Horiba,
Ltd., Bio-Rad Laboratories, Inc., Neogen Corporation, Inc., Heska Corporation,
Henry Schein, Alvedia and ID Vet.
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