Veterinary Diagnostics Market: Trends and Opportunities for the Industry by 2013 - 2019

Veterinary diagnostics are the tests that help in determiningand identifyingvariousdisorders in animals. These procedures are performed via various methods that utilize their blood, feces and tissue samples.The new methods and technologies that have been developed for human diagnostics are also utilized extensively in veterinary diagnostics. Various methods used in veterinary diagnostics include immunodiagnostics, hematology, molecular testing (including nucleic acid testing) and clinical chemistry.The other methods used for the same include enzyme linked immunosorbent assay (ELISA), lateral flow tests, indirect fluorescent antibody test (IFAT), complement fixation, agglutination, western blot, polymerase chain reaction (PCR) and microarrays/biochips.

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The growth of this market is dependent on various market drivers such as increase in number of in-clinic diagnostic procedures, andincrease in purchase and usage of various diagnostic instruments that are utilized in veterinary practices. Also, increase in number of high income households that keep pets and regularly visit veterinary laboratories will also propel the growth of this market. In-clinic diagnostic practices and companion animal diagnostics increase the number of animals diagnosed with technologically advanced equipment and procedures that ensure accurate and faster results.

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The North American market dominates the global veterinary diagnostics market with the largest market share, followed by the European market.The U.S., Japan, Western Europe and other developed nations have been able to use technologically advanced diagnostic tests;but, most of the developing markets still remain largely untapped. The Asia-Pacific and the Latin American markets are expected to be the most lucrative market in terms of growth rate due to increase in the number of households that are preferring to keep pets. The Middle East and the African region can also prove to be the prospective markets for veterinary diagnostics due tohigh animal density.

Some of the major players operating in the veterinary diagnostics market are Abbott Laboratories, Abaxis, Inc., Heska Corporation, IDEXX Laboratories, Inc., Bio-Rad Laboratories Inc., Life Technologies Corporation, Prionics AG, and Pfizer, Inc.

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