Launch of portable x-ray machines that are ultra-compact, easy-to-use, ultra-durable, ultra-light, and produce the highest quality digital images will transform the companion animal diagnostics market in US.
Arizton’s recent market research report on the companion animal diagnostics market in US provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by product (diagnostic analyzers & imaging equipment, consumables, & software), by animal type (dog & cat), by technology (diagnostic imaging, clinical chemistry, hematology, immunodiagnostics, microbiology & histopathology, & molecular diagnostics), by end-users (veterinary reference laboratories, veterinary hospitals & clinics, and others), and offers detailed competitive analysis.
The companion animal diagnostics market in US is anticipated to generate revenues of over $2.5 billion by 2023, growing at a CAGR of around 7% during 2017-2023.
The increasing pet adoption among millennials, rising pet healthcare expenditure, higher concentration of key players, and a highnumber of homes with pets are some of the factors attributing to the growth of the US market. The growing popularity of diagnostic imaging, clinical chemistry, hematology, immunodiagnostics, microbiology,and histopathology tests, and molecular diagnostics is propelling the growth of the companion animal diagnostics market in US.
The top 3 drivers and trends contributing to the development of thecompanion animal diagnostics market in USare discussed below:
Growing Demand for Automated Analyzers and Integration of Various Diagnostic Platforms
The increasing demand for semi-automated and fully automated diagnostic tests in veterinary laboratories and hospitals is driving the growth of the companion animal diagnostics market in US. The automation of diagnostic tests will result in increased productivity and efficient handling of large volumes of tests in the US market. Moreover, automated diagnostics will reduce or remove errors associated with manual processes resulting in higher demand in the companion animal diagnostics market in US. The automated systems possess auto samplers for handling a large number of samples, which is helping them to gain popularity among a broad range of end-users in the market. Several leading companies are incorporating and integrating advanced technologies in various diagnostic platforms to enhance the overall outcome of diagnostic procedures and gain a larger market share. The vendors are developing diagnostic analyzers and imaging equipment in compliance with laboratory information system (LIS) to sustain the competition in the US market. The players are designing and developing analyzers that help minimize errors, saves time, and also integrate the test results with a patient’s medical records and invoices for easy access. The growing availability of such advanced automated analyzers and integration of various diagnostic platforms will contribute to the revenues in the companion animal diagnostics market in US.
Growing Demand for Rapid and POC diagnostic tests
The simplicity and convenience of rapid and point-of-care tests are driving the demand for these procedures in the companion animal diagnostics market in US. These tools are designed to allow doctors to assess clinical condition of an animal, aiding in quick decision making, and speeding up the treatment cycle for animals in a real-time. The growing requirement for rapid, low-cost, rapid, and reliable diagnostic tests in veterinary medicine is fueling the need for these rapid tests in the companion animal diagnostics market in US. The convenience, timeliness, and potential to improve individual's health condition are some of the benefits associated withrapid and point-of-care tests. Rapid tests are fulfilling the prerequisites of simplicity, specificity, speed, sensitivity, reproducibility and low cost in the US market. Dipstick or lateral flow immunoassays are the most commonly available test in the US market. These tests area cost-effective and decentralized diagnosis of a wide range of diseases especially infectious and public health-related threats such as zoonotic diseases. Also, several leading vendors are focusing on developing a broad range of rapid tests for diagnosing various acute and chronic diseases in cats and dogs and attracting maximum consumers in the companion animal diagnostics market in US.
Growing Demand for Digital Radiography
With new technological advancements and improvements, the companion animal diagnostics market in US is witnessing the development and launch of digital radiography. Digital radiography is an advanced imaging technique which has become increasingly popular in the veterinary care industry. This technology is environmentally friendly and high-quality alternative to analog X-ray imaging in veterinary medicine. The ability to manipulate the images such as magnification, altering the contrast, and brightness is propelling the demand for digital radiography in the companion animal diagnostics market in US. The leading vendors are offering a broad range of full stationery digital and portable X-ray systems to meet the dynamic consumer demands in the US market. The launch of portable x-ray machines that are ultra-compact, easy-to-use, ultra-durable, ultra-light, and produce the highest quality digital images will transform the companion animal diagnostics market in US.
The leading vendors in the companion animal diagnostics market in US are Abaxis, Carestream Health, Esaote, Fujifilm, Heska, IDEXX Laboratories, and Zoetis.
The complete overview of the latest market research report on companion animal diagnostics market in US by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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