Companion animal diagnostics continues to represent the more attractive market opportunity and segment in veterinary diagnostics.
New York, NY (PRWEB) April 14, 2014
Recent market entrants and product introductions to U.S. veterinary diagnostics have predominated in the companion animal or pet segment, according to recent analysis by Kalorama Information. The IVD market research publisher found the expected industry trend play out as stable epidemiological factors among U.S. livestock did little to expand the food animal diagnostics market. These market developments matched the short-term outlook presented by Kalorama Information in its report “The World Market for Veterinary Diagnostics,” and Kalorama says there will likely be more entrants.
Since 2012, new market players for animal disease test kits in the United States – Biogal/Galed Laboratories, Princeton BioMeditech, and InBios – have launched approved tests for canine distemper, canine heartworm, and West Nile virus. Overall, nearly half of the infectious disease tests introduced between 2012 and 2014 in the United States were for companion animal diseases, disproportionate to the significantly wider portfolio of livestock disease tests. Companion animal diagnostics continues to represent the more attractive market opportunity and segment in veterinary diagnostics.
“New entrants to veterinary IVD are to be expected due to the low technical and regulatory market barriers and recent superior market performance to clinical IVD,” report analyst Emil Salazar related. “But this has played out especially in pet diagnostics where growth has ridden increasing consumer spending on pets, especially on pet health care.”
The United States has not supported as robust a food animal diagnostics market as Europe, where several disease eradication programs boosted livestock testing in the past decade. In the review of new products introduced to the U.S. veterinary diagnostics market between 2012 and 2014, Kalorama Information found 14 livestock infectious disease tests delisted (as part of portfolio management or company withdrawal from the market) and 9 introduced (in most cases with competitive tests already on the market). Three of the delisted tests were from vendors still offering another test product for the same target disease. The near equal rates of product addition and attrition indicate a largely static market for U.S. livestock infectious disease diagnostics. Market growth is predicated upon disease outbreaks and management; the United States has seen no recent, market-significant outbreaks and active disease eradication programs have focused overwhelmingly on industry practices and vaccination.
“Overall, the food animal diagnostics market is being undercut by falling testing rates for BSE [bovine spongiform encephalopathy] and BVD [bovine viral diarrhea] in the number one market, Europe,” noted Salazar. “Behind Europe is a relatively placid North American market, and then the rest of the world including its developing industrial agriculture schemes.” While the timing and nature of zoonotic and livestock disease outbreaks cannot be predicted, developing countries’ implementation of disease control and eradication programs can be expected to drive global demand for food animal diagnostics.
“Disease drivers just aren’t present in livestock testing like they are in veterinary care. Treatment and the level of clinical care for pets are improving, and so [companion animal] diagnostics have an increasingly greater role to play in clinical decision making,” said Salazar.
Kalorama Information’s report, “The World Market for Veterinary Diagnostics,” provides more information including breakouts for various segments of veterinary diagnostics, and discussions of trends in the industry. Profiles of key competitors are also included. The report can be found at: http://www.kaloramainformation.com/Veterinary-Diagnostics-7025815/.
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 http://www.kaloramainformation.com.