HOME Research Insight IDEXX Laboratories, Inc. (U.S.), VCA, Inc. (U.S.), and ABAXIS, Inc. (U.S.) Dominate the Global Veterinary Diagnostics Market

IDEXX Laboratories, Inc. (U.S.), VCA, Inc. (U.S.), and ABAXIS, Inc. (U.S.) Dominate the Global Veterinary Diagnostics Market

The global veterinary diagnostics market is dominated by IDEXX Laboratories, Inc. (U.S.), VCA, Inc. (U.S.), and ABAXIS, Inc. (U.S.), which together accounted for ~55-60% of the global market in 2015. The rest of the market is fragmented in nature with the presence of many local and regional players.

The leading position of IDEXX Laboratories, Inc. (U.S.) in this market is majorly attributed to its strong product portfolio, wide geographic presence, and strong distribution and services network across the globe. Moreover, the company has a diversified revenue system, which helps it to sustain its leading position in the market. IDEXX Laboratories primarily focuses on strengthening its veterinary diagnostics product portfolio and aims to maintain customer satisfaction by providing accurate and timely responses and resolutions to customer needs. The company has staff with expertise in veterinary practices who actively contribute in R&D projects to offer innovative products to customers. The company has several manufacturing units and strong distribution and services networks which help the company to expand its customer base.

VCA, Inc. (U.S.) held the second-largest share in the veterinary diagnostics market in 2015. The company has a strong presence across the U.S. and Canada for its animal care business. To increase its market share, the company focuses on expanding its product portfolio through new product launches. For instance, in December 2014, VCA, Inc. launched NEXT Equine DR, a stand-up portable DR. The company also focuses on distribution agreements to widen its distribution capacity.

ABAXIS, Inc. (U.S.) held third-largest share in the global veterinary diagnostics market in 2015. The strong position of the company in this market is primarily attributed to its robust product portfolio and strong geographic footprints. The company operates in North America, Europe, Asia-Pacific, and Rest of the world. The company has a wide distribution network across the U.S., Canada, Europe, the Middle East and Africa, Asia and Australia, and Latin America.  The company sells its products through major distributors which include Henry Schein Animal Health (U.S.), MWI Animal Health (U.S.), Patterson Veterinary Supply (U.S.), and Penn Veterinary Supply, Inc. (U.S.).  The company focuses on strengthening its geographic presence through mergers and acquisitions. For Instance, in November 2014, the company acquired Quality Chemical Reagents and Trio Diagnostics Ltd. (U.K.), a distributor of laboratory instruments and consumables to veterinary professionals in the U.K.

Industry players adopted the strategy of new product launches to achieve growth in the global veterinary diagnostics market. For instance, in March 2014, IDEXX Laboratories launched the Catalyst One Chemistry Analyzer. This analyzer combines chemistry analysis, electrolyte analysis, and T4 analysis into a single sample run. Similarly, between 2012 and 2015, IDEXX Laboratories, Inc. (U.S.) launched several ELISA and PCR tests such as SNAP Lepto Test, IDEXX Sarcoptes Antibody ELISA Test, IDEXX Ringworm RealPCR, and Strangles RealPCR Test for companion and food-producing animals.

Related Reports:

Veterinary Diagnostics Market by Product (Instruments, Consumables, Services) by Technology (Diagnostic Imaging, Clinical Chemistry, Immunodiagnostics, Molecular Diagnostics) by Animal (Dogs, Cats, Horses, Cattle, Pigs, Poultry) - Global forecast to 2021

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