NEW YORK, June 4, 2015 /PRNewswire/ -- Healthcare market researcher Kalorama Information says that While positive indicators abounded in past years across companion animal diagnostic product segments, some have fallen in performance recently. In an article on its blog, Kalorama revealed its research into 2014 developments I the market. The firm says that opportunities to capture strong market growth remain available in companion animal diagnostics, though the overall market is not the fundamentally explosive growth proposition it once was. Kalorama Information reported on companion animal (pet) testing in its report The World Market for Veterinary Diagnostics.
The report is available at: http://www.kaloramainformation.com/redirect.asp?progid=87532&productid=8572450.
The report said that In-practice analyzer placements are no longer progressing at a torrid place in the relatively established North American market. Market leader IDEXX Laboratories saw year-to-year decline in its companion animal instrument revenue in 2014. While the company attributed the revenue loss to deferred payment models, the trend has been consistent since 2012. Similarly, competitor Heska has reported declining instrument revenue over recent years.
Kalorama notes that the performance of Abaxis – another supplier of in-practice chemistry and hematology analyzers – has stood out as the company dramatically grew in-practice instrument placements in 2014. However, the overall companion animal analyzer market has seen declining growth that does not surprise following years of new client placements in an otherwise relatively constant population of U.S. veterinary practices.
"While in-practice analyzers resemble and often are adapted from clinical point-of-care (POC) technologies, their market fate is likely similar to clinical core lab analyzers – a robust, mature market with marginal growth in established markets, but with high recurring revenue streams," said Emil Salazar, analyst for Kalorama information.
For now though, Salazar believes that veterinary in-clinic analyzers comfortably outpace clinical core lab instruments in terms of growth.
Kalorama concludes that companion animal rapid assays (immunoassays) represent a limited market opportunity. The market has traditionally been dominated by tests for infectious diseases, though growth has been marginal for the associated core test for heartworms. Few other significant infectious disease threats exist for companion animals in North America and Europe outside of Lyme disease, ehrlichiosis, and anaplasmosis. Vendors have responded by multiplexing these tests to maximize the revenue opportunity of their application in annual companion animal patient screening.
For additional discussion of companion animal and food animal diagnostics market factors, including market segmentation by product and geography, Kalorama Information offers the recent title The World Market for Veterinary Diagnostics. The report is available from Kalorama Information http://www.kaloramainformation.com/redirect.asp?progid=87532&productid=8572450.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Reports can be purchased through Kalorama's website and are also available on www.marketresearch.com and www.profound.com.
We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog at www.kaloramainformation.com.
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SOURCE Kalorama Information
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