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3. IDEXX Laboratories Inc. (US), Zoetis Inc. (US), and Thermo Fisher Scientific Inc. (US) are the Leading Players in the Veterinary Infectious Disease Diagnostics Market

The veterinary infectious disease diagnostics market is expected to reach USD 2.6 billion by 2026 from an estimated USD 1.7 billion in 2021, at a CAGR of 9.0%. Market growth can largely be attributed to the growth in the companion animal population, increasing incidence of transboundary and zoonotic diseases, rising demand for animal-derived food products, rising demand for pet insurance, growing animal health expenditure, and growth in the number of veterinary practitioners and income levels in developed economies. On the other hand, rising pet care costs is expected to restrain the overall market growth. Currently, the lack of skilled veterinarians and diagnostic infrastructure, especially in developing countries, is one of the major factors limiting the uptake of advanced diagnostic solutions among veterinarians. The high cost of advanced diagnostic tests is another major barrier to its widespread adoption.

COVID-19 Impact - Domestic animals do not get COVID-19 as humans do, but under natural conditions, pet cats—and, to a lesser extent, pet dogs—may, albeit rarely, become infected with SARS-CoV-2 after close and prolonged contact with a COVID-19-positive person. The number of vet visits and diagnostic testing drastically reduced in March, April, and May 2020 but started increasing from the third quarter of 2020 with a high growth rate. It is expected to normalize in the second and third quarters of 2021. Hence, the COVID-19 pandemic is expected to have a temporary and minimal impact on the veterinary infectious disease diagnostics market during the forecast period.    

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In 2020, IDEXX Laboratories is the leading player in the veterinary infectious disease diagnostics market. The company has a diversified product portfolio, which comprises a wide range of companion animal diagnostic products and livestock & poultry diagnostic products. IDEXX’s position in the market is attributed to its active R&D activities and wide distribution footprint across the world, which enables it to serve customers in more than 175 countries. To garner a larger share in the veterinary infectious disease diagnostics market, the company continuously focuses on product developments and launches. For instance, in August 2020, IDEXX launched its ProCyte One Hematology Analyzer, which analyzes approximately 24 whole blood parameters in canine, feline, and equine species. In May 2020, OPTI Medical Systems received Emergency Use Authorization from the US FDA for OPTI SARS-CoV-2 RNA PCR Test Kit for the detection of the virus causing COVID-19 for veterinary applications. To limit the spread of the SARS-CoV-2 virus in animals, IDEXX launched the diagnostic test and started testing. Additionally, in 2020, IDEXX launched its new canine progesterone test for Catalyst Dx and Catalyst One chemistry analyzers. This product will help in assessing the ovulation status by measuring the progesterone levels. IDEXX updates its current products periodically to keep up with technological advancements. In January 2019, the company updated the SediVue Dx Urine Sediment Analyzer, Catalyst Dx and Catalyst One chemistry analyzers, and IDEXX Web PACS cloud-based diagnostic imaging software.

Zoetis Inc. held the second position in the global veterinary infectious disease diagnostics market. The company’s leading position can be attributed to its strong brand name and its wide range of products. The company has a diversified product portfolio of hematology, chemistry, blood glucose, and urine analyzers. The company also offers rapid tests through VETSCAN and WITNESS tests. VETSCAN offers test kits that are easy-to-use for the qualitative detection of antibodies to many micro-organisms like A. phagocytophilum, A. platys, E. canis, E. chaffeensis, and E. ewingii in canine whole blood, serum, or plasma, at the point of care. The company focuses on acquisitions to increase its share in the veterinary infectious disease diagnostics market. In July 2018, the company acquired Abaxis (US), a leading player in the development, manufacturing, and marketing of diagnostic instruments for veterinary point-of-care services. This acquisition helped Zoetis to increase its product portfolio for POC diagnostics and increased its share in the entire veterinary infectious disease diagnostics market.

Thermo Fisher Scientific Inc. was the third-largest player in the global veterinary infectious disease diagnostics market. To maintain its position in the market, the company focuses on R&D and collaborations. The company has a broad portfolio of rapid test products under the VetMAX range of tests. The company’s leading position can be attributed to its strong brand name and wide range of products in immunodiagnostics, hematology, molecular diagnostics, clinical biochemistry, and urinalysis. The company also has a diversified product portfolio of veterinary antimicrobial susceptibility testing systems. The Sensititre AST System is one of the company’s flagship products. This system is offered by the company’s Specialty Diagnostics segment, one of the company’s largest revenue-generating segments. The company mainly operates across the Americas, Africa, Western/Eastern Europe, the Middle East, and Asia.

Related Reports:

Veterinary Infectious Disease Diagnostics Market by Technology (Immunodiagnostics, Molecular Diagnostics (PCR)), Animal (Companion, Food-producing animals), End User (Reference Labs, Hospital, Clinics, Universities) - Global Forecast to 2026

Contact:
Mr. Aashish Mehra
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