Veterinary Diagnostics Market Reaches $2.1 Billion: Kalorama Information
ROCKVILLE, Md., Oct. 11, 2018 /PRNewswire/ — The global market for veterinary diagnostics will reach an estimated $2.1 billion in 2018, according to Kalorama Information. Veterinary diagnostics represents a relatively fast-growing market opportunity to in vitro diagnostic (IVD) companies and others able to capitalize on the unfailing need to ensure agricultural productivity and the growth in consumer spending on companion animals. In the next five years, the global veterinary diagnostics market is expected to grow and low barriers to market entry coupled with a lack of insurmountable competition makes superior rates of growth in certain segments of the veterinary diagnostics market realizable for a broad range of companies. The healthcare market research firm’s recent report, The World Market for Veterinary Diagnostics, tracks the global veterinary diagnostics market through the performance of its two constituent markets of companion animal and food animal diagnostics.
“IVD instrumentation and products have been extensively applied to veterinary healthcare,” said Bruce Carlson, Publisher of Kalorama Information. “Many assay forms, analytes and analyzers are transferable from the clinical space to the veterinary clinic and laboratory.”
Veterinary diagnostics comprehensively support animal health through
- routine testing of companion animals during clinical visits or check-ups;
- diagnosis of disease in symptomatic companion animals;
- zoonotic disease (disease spread between animals and people) surveillance in wildlife populations;
- disease screening and confirmatory testing in livestock and production animals as part of disease control efforts.
The Companion Animal Diagnostics Market
The companion animal diagnostics market includes IVD products – instruments, consumables, test reagents and test kits – for the diagnosis of disease and health conditions in household pets (primarily dogs and cats) as well as horses. Market performance is determined by diagnostic product demand from veterinary clinics, hospitals, reference labs, and governmental and research laboratories such as those found at universities and associated with government agricultural and animal health authorities. Test products performed by pet owners – such as pet blood glucose meters and strips, pregnancy and ovulation tests, and urinalysis strips and cups – are also included in the companion animal diagnostics market.
The Food Animal Diagnostics Market
The food animal diagnostics market includes IVD products for disease diagnosis in livestock and production animals, commonly cattle, sheep, goats, rams, pigs, and poultry. Kalorama’s report scope also includes diagnostic testing on wildlife populations such as fowl, buffalo, deer, elk, moose and boar that are capable of transmitting diseases to human or food animal populations. Most food animal diagnostic products are used by reference laboratories and their veterinary staffs.
Companies enter the veterinary diagnostics market through acquisitions, product development, and licensing or original equipment manufacturer (OEM) agreements. The World Market for Veterinary Diagnostics supplies total global market analysis and competitive market shares, examining major veterinary disease markets as well as overall market performance and development.
The competitive landscape of the veterinary diagnostics market includes numerous large and small companies that vary widely in terms of market participation (or degree of dedication or dependence on veterinary diagnostics), technology platforms, and product offerings. The clear-cut leader in veterinary diagnostics is IDEXX Laboratories. Qiagen and Thermo Fisher Scientific are among the other market leaders profiled in the report, which can be found at: https://www.kaloramainformation.com/Veterinary-Diagnostics-11913760/.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Reports can be purchased through Kalorama’s website and are also available on www.marketresearch.com and www.profound.com.
We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog on our company website: https://www.kaloramainformation.com/.
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SOURCE Kalorama Information