North America: Healthy Vets And Markets

North America veterinary diagnostics is dominating the whole world. It dominates in regards to technology, species covered under diagnostics and regions which offers animal disease detection. If we talk about money that circulate in this market it will glitter the eyes in shock. According to a recent news, a medical technology company, CellaVision has received an order from a veterinary laboratory chain in the US market. The order includes equipment for the customer's laboratories and will be delivered before the end of the year. The order has a value of over SEK 30 million and is in addition to the order communicated in the last quarter of 2014 which included a delivery of instruments exceeding SEK 10 million. To mention, this is just about one company, likewise there are many other companies with different levels of money transactions regarding diagnostics. Thus, the money in North America vet diagnostics market can be imagined.

The increase in companion and farm animal ownership and zoonotic and foodborne diseases are the major caused that are driving the market in this region. According to the American Pet Products Association’s (APPA) new 2011-2012 National Pet Owners Survey, the number of U.S. households that own a pet has increased by 2.1% to an all-time high of 72.9 million. Increase in total pet ownership is contributed by increase in the number of pet owning households and those with multiple pets. According to the survey, there are more than 78 million dogs, 86.4 million cats, 151.1 million freshwater fish, 8.61 million saltwater fish, 16.2 million birds, 16 million small animals, 13 million reptiles and 7.9 million equines owned in the U.S.

As a result of this, the market in this part of the world amounted $745 million for the year 2014 and is expected to grow at a CAGR of 7.92% till the end of 2019..

The Molecular diagnostic market is currently valued as $xxx million and is expected to grow at a CAGR of 7.99%. Polymerase chain reaction (PCR) is leading in this segment.

By species, it covers companion, farm and other animals under diagnostics. Farm animals for the obvious reason holds the major share of the market.

The driving forces and market figures say out loud the well-being of North America veterinary diagnostics market and the growth rates indicate how well it will be in the future.

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