Market Concentration & Characteristics
The U.S. veterinary point-of-care diagnostics industry is moderately concentrated, with a handful of prominent companies holding significant market shares. However, it's worth noting that several research institutes and key players are actively investing in R&D initiatives to develop innovative diagnostic testing solutions that meet the evolving needs of veterinarians and pet owners alike. For instance, a recent collaboration between the Beef Cattle Institute, Butterfly Network, and Kansas State University aims to combat respiratory disease in cattle populations. By conducting chute-side point-of-care ultrasound tests using Butterfly Network's new ultrasound-on-chip technology, researchers are evaluating its efficacy in this specific context.
Several prominent companies operating in the U.S. Veterinary Point of Care (POC) diagnostics market are executing strategic initiatives, including acquisitions, to enhance their product lineups and cater to diverse customer needs. For example, Mars Incorporated recently made a significant acquisition in March 2023 by acquiring Heska Corporation. This deal allows Mars Petcare's Science & Diagnostics division to bolster its diagnostic capabilities and effectively promote cutting-edge point-of-care veterinary diagnostics globally.
Industry heavyweights are forging strategic alliances to enhance growth, drive innovation, and bolster competitiveness by pooling the collective strengths of diverse organizations. Notably, in January 2024, Zoetis Diagnostics and Covetrus unveiled a landmark partnership. By merging their veterinary expertise, the two entities plan to unify Covetrus Pulse, their veterinary software, with Zoetis' expansive diagnostic products portfolio, thereby broadening their offerings and expanding their reach.
Regulatory bodies like the U.S. Food and Drug Administration (FDA) and the United States Pharmacopeia play a pivotal role in supporting key companies by providing approvals. This endorsement not only satisfies industry demands but also attracts new clients, thereby driving business expansion. By offering regulatory backing, these organizations significantly contribute to the growth of the industry as a whole.
Sample Type Insights
The market is expected to be dominated by the blood/plasma/serum segment, accounting for approximately 39% of the total share in 2024. This growth is largely driven by the increasing demand for testing of zoonotic diseases and general health issues among animals, as well as the importance of veterinary health and safety. The affordability, rapid analysis, and high efficiency of these tests are also expected to contribute significantly to the market's expansion. In the United States, Kirkwood Animal Hospital emphasizes the significance of blood tests in animal diagnostics, advocating for their routine use as a critical metric for assessing overall animal well-being. These tests play a vital role in identifying potential issues before they become apparent, enabling timely interventions and preventing more severe problems from arising.
The urine segment is poised for rapid growth over the forecast period, driven by a multifaceted array of applications that have made it an attractive choice for various industries. One of the key factors contributing to its growth is the cost-effectiveness and accessibility of these tests, which enable easy detection of kidney dysfunction in animals. Additionally, urinalysis provides valuable biochemical data, further solidifying its position as a preferred diagnostic tool. A significant catalyst for this growth is the ongoing product launches by prominent companies like Zoetis. The recent launch of AI-enhanced urine sediment analysis capabilities in their existing product, Vetscan Imagyst, marks an exciting development in this space. By leveraging artificial intelligence, these tests can now speed up the processing time, making veterinary sample analysis more efficient and effective.
Key U.S. Veterinary Point of Care Diagnostics Companies:
- Zoetis Inc.
- IDEXX
- Thermo Fisher Scientific Inc.
- Heska Corp
- Phibro Animal Health Corporation
- Blair Milling and Elevator Co., Inc.
- NeuroLogica Corp
- NEOGEN Corporation
- Marshfield Labs
- ProtaTek International, Inc.
- Texas A&M Veterinary Medical Diagnostic Laboratory
- VCA, Inc
- University of Minnesota
View a comprehensive list of companies in the U.S. Veterinary Point of Care Diagnostics Market
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