The use of molecular and rapid diagnostic tests will continue to grow in the veterinary diagnostics industry. Similarly, there will be a larger number of diagnostic tests performed due to the increased adoption of pets and the longer lifespan of said animals. Lastly, the increase in zoonotic and foodborne diseases will drive further research into the diagnosis of zoonotic diseases, something that has already been seen in the context of the COVID-19 pandemic.
Molecular and Rapid Diagnostics Will Continue to Grow
- According to numerous reports, molecular and rapid tests are one of the trends seen in the veterinary diagnostics market.
- These tests provide results in less than 24 hours, an immediacy that is ideal for both the practitioner and the owner of the animal.
- This has also become a trend because of the increased number of tests that are now being approved and have become available in North America. These include biosensors, biomarkers, and fluorometric tests.
- Similarly, pet owners now demand in-house testing more frequently, which leads to a higher demand for these rapid tests.
- Immunodiagnostic tests, which are highly specific molecular tests will continue to grow in popularity as they are very accurate and can be used to identify numerous diseases.
- The adoption of immunodiagnostic tests is also increasing due to the development of new antigen tests with more sensitivity and specificity, making them more reliable than their predecessors.
- According to an academic paper published by researchers in the area, newer tests have shown to be more efficient and allow for better detection of disease.
- Furthermore, as reported by a market research company, the molecular veterinary diagnostics market alone is expected to be valued at $796 million by 2025, supporting the continued growth of this trend in the overall veterinary diagnostics market.
Increased Pet Ownership Will Lead to Larger Testing
- As pet ownership becomes more popular in North America, demand for rapid tests continues to grow according to market reports.
- More specifically, as of 2018, Canadians owned 8.2 million dogs and 8.3 million cats, which are the most common pet animals.
- Furthermore, according to a recent survey, 95% of Canadians consider pets as part of their family, which has led to increased awareness regarding animal health and veterinary testing.
- Another reason for this trend is the increase in expendable income registered until the beginning of 2020. However, the economic impact of COVID-19 could restrain this trend driver.
- Additionally, changes in demographic behavior also have an impact on the growth of diagnostic testing. As people move from rural to urban areas, they have more access to specific tests, which leads to a larger performance of said diagnostics.
- Furthermore, as the development of new treatments leads to longer lifespans for pets, the use and type of diagnostics that can be performed also expand.
- According to the American Pet Product Association, pet spending has surpassed the $70 billion mark, which includes spending on diagnostic testing. Regionally speaking, Canadians spent over $8 billion in pet-related expenses -including veterinary expenses- in 2017, a number that is expected to rise.
- Lastly, market experts have reported that increased awareness about the benefits of having a companion will be another reason for continued expansion in the use of veterinary diagnostic testing.
Growing Interest in Diagnostic Tests for Zoonotic Diseases
- Numerous market research reports have shown that interest in diagnostic tests for zoonotic diseases will continue to grow.
- This has become a trend due to the increased number of zoonotic diseases, including the current COVID-19 pandemic, which is a prime example of this.
- According to a 2018 report, the majority of human infections take place due to contact with pet dogs and cats. At the same time, livestock such as pigs, goats, chicken, and cattle can also be responsible for these infections.
- Rising foodborne diseases would also lead to the development of newer and more efficient diagnostic tests. Together with the growing demand for livestock, the use of diagnostic tests in this group of animals would continue to grow.
- As an example of growing concern about zoonotic diseases, the Centers for Disease Control launched a toolkit and has been promoting the concept of One Health in the context of the SARS-CoV-2 virus, which causes the COVID-19 disease.
- This approach encourages the use of modern testing instruments to diagnose animals with the virus and it could be used for existent and future zoonotic diseases, promoting the development of new veterinary diagnostic instruments.