LONDON--(BUSINESS WIRE)--The global animal health diagnostics market is expected to post a CAGR of close to 10% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the global animal health diagnostics market is the rising awareness about zoonotic diseases. Also, the increased rate of globalization and cross-continental travel increase the risk of proliferating zoonotic diseases worldwide. The rise in professional and public awareness can prevent the spread of these diseases. Veterinarians need to report any incidence of zoonotic diseases that might lead to an outbreak.
This market research report on the global animal health diagnostics market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period.
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Global animal health diagnostics market: Rise in Internet of Animals
Internet of Things (IoT) is transforming the way in which animal healthcare was approached previously. Over the past few years, there has been a rise in demand for wearable activity and health monitors, along with the video-enabled engagement and remote monitoring. There are several monitoring solutions available for livestock that deliver robust data analytics that assists in providing real-time insights on when an animal can be intervened for feeding and healthcare. With technological advances helping to improve animal care, the market is finding new solutions to meet the rising demand and reduce costs.
“Pet owners are more concerned about the health and wellness of their pets. Therefore, the increase in pet humanization is expected to boost the growth of the global animal health diagnostics market during the forecast period,” says a senior analyst at Technavio.
Global animal health diagnostics market: Segmentation analysis
This market research report segments the global animal health diagnostics market by animal type (livestock, and companion) by end-user (veterinary clinics, veterinary hospitals, and research institutes) and geographical regions (APAC, EMEA, and the Americas).
The Americas region led the market in 2017 with a market share of over 73%, followed by EMEA and APAC respectively. EMEA is expected to register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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