Veterinary Diagnostics Market Analysis
Overview
Veterinary diagnostics are a key growth area of the animal health industry with developments in technology and processes used to identify the nature and cause of an illness or injury. An increasing interest from consumers in the wellness of their pets is seeing an increase in pet diagnostics in clinics or via reference labs. This burgeoning sector only features a small handful of companies. The US is by far the largest market, with the rest of the world not as used to regular wellness test for pets.
Key Benefits
IDEXX
IDEXX Laboratories is the largest veterinary diagnostics company with annual revenues in excess of $2 billion.
IDEXX is the leader of both the in-lab diagnostics market and the point-of-care testing sector.
Testing Technology
We forecast continuing acquisitions of veterinary diagnostic labs and testing technology in the future.
Veterinary Diagnostics
Other players in the veterinary diagnostics area are Antech Diagnostics, Zoetis and Heska.
Zoetis
Zoetis has recently been executing several merger and acquisition deals in the diagnostics sector, with its takeover of Abaxis the most notable.
Key Themes Affecting The Diagnostics Market
Consolidation is being closely monitored in the market, with acquisitions in the reference lab area that are seeing Zoetis try to compete with IDEXX and Antech. Development areas of interest include the point-of-care testing space for pets and livestock. Innovation in this area is resulting in tests that can be carried out next to the animal and return results within minutes. This allows vets or farmers to make disease interventions much more quickly than they have been able to do previously.
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Solutions
Animal Health Information Solutions
At S&P Markit we offer market-leading animal health information solutions via our globally recognised Animal Health Market Reporting service, powered Animal Pharm. Our specialist team of experts offer comprehensive news, data and independent analysis across the global industry, with current news, data and market forecasting solutions to support all operational needs in your organisation.
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Our animal Health Market Reporting service is the market leader in updates and news on animal health company developments, emerging trends, mergers and acquisitions, regulatory and competitive changes across the animal health market. Spanning pharmaceuticals, vaccines, diagnostics and technology, a subscription also includes access to a range of tracking tools on M&A, funding, patents and drug approvals.
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Special Reports
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Published throughout the year these reports dive deeper than information available with an Animal Health Market Reporting service alone, taking special reports on key topics driving the vaccine, antiparasitic and diagnostics markets, complementing our subscription services. These provide critical updates on regulations, products, technology and other emerging trends.
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