NEW YORK, Jan. 26, 2015 /PRNewswire/ -- Lab testing performed as part of the veterinary care of food animals (livestock and production animals) and companion animals (pets) supports two distinct market segments, according to Kalorama Information. The combined veterinary diagnostics market is served by companies that predominately focus on one of the two segments: food animal diagnostics or companion animal diagnostics.
Kalorama Information's newly published The World Market for Veterinary Diagnostics provides thorough analysis and segmentation specific to both the companion animal and food animal diagnostics segments, treating both markets separately. The report can be found at http://www.kaloramainformation.com/Veterinary-Diagnostics-8572450/. The report says that few companies can play the entire market.
"With a major exception of a large player like IDEXX laboratories, the veterinary diagnostics industry is populated by companies that produce either animal infectious disease tests or core test analyzers," said Emil Salazar, veterinary diagnostics analyst for Kalorama Information and the author of the report. "Companies entering the market should be familiar with the different dynamics between the two segments for companion animal and food animal diagnostics."
In terms of companion animal diagnostics, Salazar notes that the strengthening human-animal bond and view of pets as family members have dictated rising standards of companion animal care in the United States and, to a lesser extent, other developed countries. The humanization of companion animals is evident in the diagnostics space; veterinary practices challenged by sustained market softness (in terms of patient visit volumes) have responded by encouraging routine check-ups and enhancing in-house diagnostic capabilities. With the significant role of in-clinic analyzers, non-infectious disease testing - led by chemistry and hematology - now represents approximately 75% of the companion animal diagnostics market.
"Recent market growth for companion animal infectious disease tests has been slight as relatively few threats exist for dogs and cats in North American and European markets," Salazar said. "Assay vendors have resorted to the standardization of infectious disease screening panels or multiplex assays to spur growth more in line with the rest of the veterinary diagnostics market."
For the food animal diagnostic market, Kalorama's report says that the majority of the food animal diagnostics market is represented by infectious disease testing. Food animal diagnostics are used in industry-led passive surveillance (testing in response to symptoms, illness and livestock loss) and active surveillance (disease screening as part of eradication and herd health efforts). Infectious disease testing is critical to mitigating overall production loss by preventing disease spread.
"Individual food animal wellness and preventative care are a relative non-priority compared to the companion animal space," Salazar said. Appropriately, immunodiagnostics and molecular diagnostic test kits and reagents account for over 80% of the food animal diagnostics market. Molecular diagnostic test kits profile highly in food animal diagnostics due to their specificity and sample flexibility highly desired in the implementation of new disease surveillance and control programs.
Kalorama Information's report, The World Market for Veterinary Diagnostics contains trend analysis, corporate profiles and market estimation for both food and companion animal markets. The report can be found at http://www.kaloramainformation.com/Veterinary-Diagnostics-8572450/.
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. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog at www.kaloramainformation.com.
SOURCE Kalorama Information