Veterinary diagnostics devices market is consolidated with few players controlling by far the majority market share. The veterinary healthcare market is experiencing considerable mergers and acquisitions.
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Development of novel technologies and expanded applications to the veterinary healthcare is expected to fuel market demand over forecast period. Large number of mergers in animal healthcare had undertaken, such as Pfizer, Merck, Sanofi. Merial is formed in 1997 as a joint venture of Ssanofi's Rhone Merieux and Merck's MSD AgVet. Elanco entered the companion animal segment strongly in the USA in 2007 and expanded geographical foot prints outside the U.S. with acquisition of Janssen in 2011.
France, Germany, UK are expected to offer lucrative opportunities for Europe veterinary diagnostics market. Increase applications of molecular and serological diagnostics in veterinary parasitology are expected to create demand for veterinary diagnostics market. Emerging nations in Asia pacific such as China, India are expected to contribute significant revenue for global veterinary diagnostics devices market. Many other countries are witnessing very high rates of companion animal ownership, including emerging markets such as China, Brazil, India, Mexico, and Russia. Continuous increase in the spending on companion animals is majorly drives market growth.
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