IDEXX Laboratories (NASDAQ:IDXX) is the largest US supplier of diagnostic testing products for vets; the global market leader in diagnostics and information technology solutions for animal health and milk quality; and the world leader in providing microbiology testing technologies that ensure safe water. They mainly manufacture and distribute products and services focusing on companion animal veterinary, livestock and poultry, water testing and dairy markets. The company operates through diagnostic and information technology-based products and services for the veterinary market, which it refers to as the Companion Animal Group (CAG), water quality products (Water) and products for livestock and poultry health, which it refer to as Livestock and Poultry Diagnostics (LPD).
1) High switching costs
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