NEW YORK, Nov. 7, 2016 /PRNewswire/ -- The veterinary diagnostics market is popular in the U.S. and Europe. Companion animal diagnostics makes up large proportion of the market in the globe compared with food animal diagnostics. The rest of the world see great potentials in the market and would continue to grow in the future. In terms of the Chinese market, food animal diagnostics has better performance than companion animal diagnostics. As some diseases are required to be tested by the authority, government tender sales make up part of the food animal diagnostics market share.
The global veterinary diagnostics market was $1,750 million in 2014, with $1026 million in companion animal diagnostics market and $724 million in food animal diagnostics. The companion animal diagnostics market continued to grow in the past few years and the largest market is the U.S. By contrast, food animal diagnostics is more popular in Europe, with market size fluctuated in the past few years. New eradication programs, ongoing surveillance or new pathogenic threats are among the factors for market growth.
Food animal diagnostics in China saw a bigger market size compared with companion animal market, and was around ?103 million. In addition, there were 475 veterinary drug producers in China, with about 60% of them located in eastern China and central China. Veterinary diagnostics market has intense competition as the entry level is low. Meanwhile, IDEXX is the giant in the market as it makes up 39% of total market share, while the second key player Abaxis makes up 8%. In major player analysis, both global and Chinese players are discussed in terms of revenue and market distribution.