The global veterinary diagnostics market accounted for around 22% of the entire veterinary healthcare market. Veterinary diagnostics has potential applications in the diagnosis and management of several animal diseases, such as foot-and-mouth disease, classical swine fever, avian flu, and bovine spongiform encephalopathy, etc. This factor is fuelling the market in spite of hindrances like shortage of veterinarians in emerging markets. The market is expected to register a CAGR of 7.91% by 2022, with 55% increase in the overall market, during 2017-2022 (the forecast period).
PHAROS DIAGNOSTICS EXPANDS INTO VETERINARY DIAGNOSTICS MARKET
From 2017, Pharos diagnostics is expanding into Veterinary diagnostics. It will be among the first diagnostic laboratories to offer mass spectrometry into the Veterinary diagnostics market, which is widely regarded as the most accurate and sensitive scientific method for measuring drugs, hormones, and other analytics in, both, humans and animals. Technology improvements of the last decade, like mass spectrometry, have not completely entered the veterinary diagnostic market, especially, when compared to the human medicine. Traditionally, veterinarians had to choose between expensive, slow, and sometimes inaccurate testing options while performing testing. The expansion of Pharos in Veterinary diagnostics is anticipated to change the scenario. The key benefits to veterinary market will be increased accuracy in testing, with faster turnaround time, coupled with cost efficiency. The mass spectrometer platform, employed by Pharos diagnostics, allows multiple tests to be performed using the same sample. Since smaller sample can often be obtained using less intrusive methods, there would be less hassle for the veterinarian and a better experience for the consumer.
INCREASING TRANSGENIC TECHNOLOGIES IN VETERINARY DIAGNOSIS
Currently, breakthroughs in molecular biology are occurring at an unprecedented rate. One of them is the ability to engineer transgenic animals, i.e. animals that carry genes from other species. The technology has already produced transgenic animals, such as mice, rats, rabbits, pigs, sheep, and cows. Transgenic technologies are used for producing specific economic traits, like improving productivity in farm animals as well as for production of proteins for human medical use. A few instances include:
Apart from this, transgenic animals are also produced as disease models. For instance, Harvard scientists made a major scientific breakthrough when they received a US patent (the company DuPont holds exclusive rights to its use) for a genetically engineered mouse, called OncoMouse® or the Harvard mouse, carrying a gene that promotes the development of various human cancers, in 1984. This was the first transgenic mammal being patented. These developments have certainly made the use of Veterinary diagnostics a primary need for the nations
TECHNOLOGICAL ADVANCEMENTS LEADING TO NEW AND EFFICIENT EQUIPMENT AND PROCEDURES IN VETERINARY DIAGNOSTICS
While Veterinary diagnostics are primarily comprised of time-tested, traditional diagnostic techniques, a profound change has occurred in recent years with the introduction of new biotechnological assays. These new biotechnologies include the production of more specific antigens by the use of recombination, expression vectors, and synthetic peptides. Coupled with the use of monoclonal antibodies, the sensitivity and specificity of a number of traditional types of diagnostic assays have been significantly improved. Various forms of PCR (polymerase chain reaction) assay have become routine diagnostic tools in Veterinary laboratories, not only to make specific typing determinations but to rapidly screen a large number of samples during disease outbreaks. More efficient and accurate technologies are likely to be developed and widely adopted in the future, as they demonstrate the ability to improve diagnostic capabilities while reducing the time and, perhaps, the cost associated with more conventional technologies. A few of these efficiently used technologies include genetic engineering done in farm animals and nuclear transfer technology for cloning animals, gene therapy for diseases of pet animals, and RNA interference technology. Molecular diagnosis and polymerase chain reaction with its modifications are also assuming an important place in veterinary practice. While the fluorescent in situ hybridization and enzyme-linked immunosorbent assays have become widely used, the newer biochip-based technologies and biosensors are also finding their way in Veterinary diagnostics.
UNTAPPED EMERGING MARKETS TO BE THE PRIMARY FOCUS OF MAJOR MARKET PLAYERS
The North American and European Veterinary diagnostics markets have large shares, owing to the increasing companion animal population, coupled with the positive trend towards animal healthcare spending. Developing countries in Asia-pacific and South America are expected to form a new revenue generator in the market, with India, China, and Brazil occupying major market share over the next decade.
Some of the Key Players in the Market include: