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Animal Pharm - Diagnostics for Veterinary Infectious Disease 2015

  • July 2015
  • 107 pages
  • Animal Pharm
Report ID: 3387436

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Diagnostics are a key component of the global animal health sector, alongside feed additives, pharmaceuticals and vaccines. They are used for the detection of causative organisms (pathogens / antigens), bacteria, viruses and parasites or, their antibodies.

The diagnostics market has a high growth potential mainly due to increased awareness of the potential impact that animal disease outbreaks can have on food supply and security. Also the increasing numbers of both companion animals and food producing animals globally, as the author explains.

The global veterinary diagnostics market was valued at US$2.859 billion in 2013 and is expected to grow at a CAGR of 8.0% from 2013 to 2018. It has seen a paradigm shift in the past decade with the emergence of a number of new and technologically advanced products, including adaptation from the human health sector, which both had a positive impact on the overall growth of the market.

This report primarily focuses on just one segment of the veterinary diagnostics market i.e. that of infectious disease. It is estimated that this segment alone was worth $735 million in 2013, but at current rates of growth could reach $4.2 billion by 2018.

The major players in the diagnostics market include IDEXX Laboratories (US), VCA Antech Inc. (US), Abaxis Corporation (US), Heska Corporation (US), Zoetis Inc. (US), Mindray Medical (China), Neogen Corporation (US), and Thermo Fisher Scientific Inc. (US), which are all fully covered in this report.

In addition to the structural market drivers, there are also strong geographic drivers for the growth of the veterinary diagnostics market. The emerging markets of the Asia-Pacific and Latin American regions are increasingly becoming major growth centers globally. This market especially in emerging economies such as India and China is expected to show very significant growth in the next 5 years, as the author reveals.

The increasing competitiveness is expected to drive innovation in the market; thereby helping the industry to solve existing technical challenges associated with veterinary diagnostics, and at the same time address more of the unmet needs of the market, the report concludes.

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