An Analysis of Global Veterinary Diagnostics Market Trends

Veterinary Diagnostic – A brief overview of its origins

Veterinary diagnostic refers to the diagnosis performed by a veterinarian that is based on the information grasped or gleaned from variety of sources that includes –

  • Findings from a physical examination
  • Interview with the owner or custodian of the pet or animal
  • Veterinary history of the animal/patient and its cohorts
  • Preclinical findings as reported by pertinent laboratory tests and radiological studies.

The veterinary diagnostics helps in detecting various types of animal diseases that reduce the livestock productivity in addition to protecting the pet or animal owners from economic or direct losses due to premature death (usually of large number of animals) and from decreased production of food products such as meat, milk, and eggs derived from these animals. Veterinary diagnostics also helps in minimizing indirect losses due to infectious diseases that include difficulties in the national and international movement of animals and animal products.

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The history of veterinary diagnostic goes back to the time around Fourth to Third century BCE when Aristotle and Erasistratus in ancient Greece was among the first to perform experiments on living animals. Galen is a physician in the 2nd century Rome known as “Father of Vivisection” who dissected goats and pigs that can be linked to veterinary diagnostic module. The introduction of veterinary diagnostics was introduced in 12th century Moorish Spain in the form of animal testing as an experimental method of testing surgical procedures before applying to human patients.

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The emergence of veterinary laboratories in the 19th century across the globe to deal with infectious diseases among animals has led to the emergence of global veterinary diagnostics market, which is now estimated to reach $6178.34 million by 2020 at a CAGR of 8.6%. According to reputed veterinary diagnostics market research report, the veterinary diagnostic products have shown enormous growth despite their complexities in their manufacturing processes. The majority of the rapid assay, poultry, and livestock diagnostic products are biological products that require materials from living organisms.

The Veterinary Diagnostic Industry Analysis – An objective preview

The veterinary diagnostic industry, when analyzed over the years, has grown enormously due to certain factors such as the rising animal healthcare expenditure, rising pet adoptions in developed and developing economies, growing demand for animal derived food products, increasing demand for pet insurance and an increasing number of veterinary professionals or practitioners having knowledge about zoonotic diseases. The veterinary diagnostic market consists of IVD products such as instruments, test reagents and test kits that are used for the diagnosis of diseases and health condition of household pets (cats and dogs) and horses.

The diagnostic technologies namely rapid test and flow test are extensively utilized for testing the presence of a variety of medical conditions or diseases in household pets as well for commercial livestock to undertake preventative and remedial measures. The primary segments into which the veterinary diagnostic industry is divided include:

  • Clinical Chemistry Market
  • Molecular Diagnostics Market
  • Hematology Analyzers Market
  • Diagnostic Imaging Market
  • Immunodiagnostic Market

Of the above segments, the diagnostic imaging market accounts for or occupies the largest share of the global veterinary diagnostic market even though, the immunodiagnostic market segment is expected to witness a stupendous growth over the next decade. The high growth in the immunodiagnostic market can be attributed to the factors such as easy handling of the diagnostic kits or instruments, high sensitivity, accuracy and rapid diagnosis in the form of ELISA Tests, Lateral Flow Tests to perform diagnosis of companion and food producing animals.

The global veterinary diagnostic industry has a strong presence of large number of market players in the form of companies that are trying to mark their presence. Some of the reputed companies in the global veterinary diagnostic market include-

  • IDEXX Laboratories (United States)
  • Neogen Corporation (United States)
  • IDVet( France)
  • Zoetis Inc (United States)

Geographically, North America accounts for the largest regional segment in the global veterinary diagnostic market with a combined share of around 60% due to the presence of well-established animal healthcare facilities and infrastructure. However, the major growth in the coming years is expected from the Asia-Pacific region as this region is emerging as the major producer of animal meat and a rising pet adoption due to growing per capita disposable income in countries such as India, China and Brazil.

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