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Veterinary Diagnostics Market Grows to $1.5 Billion: Kalorama


June 25, 2012 - NEW YORK, NY

Veterinary diagnostics makers have incorporated technologies and methods gained from human diagnostics and mainstream healthcare to develop a now full-fledged sister market, exceeding $1.5 billion in 2011, according to healthcare market research publisher Kalorama Information. Major diagnostic methods in mainstream healthcare -- immunodiagnostics, molecular testing (including nucleic acid testing), hematology and clinical chemistry -- now have standard applications in the veterinary care of companion animals (pets) and food animals (livestock and production animals). These findings were made in Kalorama Information's just-released report: World Market for Veterinary Diagnostics.

Kalorama Information divides the market between food animal and companion animal testing products. Common Veterinary diagnostics products for companion animals include analyzer instruments used at clinics, immunodiagnostic assays based on lateral flow design, and more sophisticated laboratory immunoassays completed on plates with microwells and slides. Food animal diagnostics assist in livestock and production animal preventive care and complement other measures such as vaccination and selective breeding. Immunodiagnostic and molecular diagnostic products are used to monitor, manage and eradicate infectious diseases found in prevalent, highly dense food animal populations.

While governments determine the direction of the food animal testing market through expenditures, with companion diagnostics purchasing decisions are driven by consumers, notes Kalorama Information. And high-income households with pets have been driving veterinary visits and the instrumentation needed to support them, according to the report.

"While veterinarians and industry vendors have played a role in steering the development of veterinary care, the potential of the companion animal diagnostics market rests with the consumer," said Emil Salazar, Kalorama analyst.

Food animal testing has been hampered by lower public spending in the volatile European market. But it nevertheless saw some revenue growth, according to the report.

The report, 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.

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.

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Please direct all media inquiries to:
Bruce Carlson
press@kaloramainformation.com
www.KaloramaInformation.com

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