Increasing dog ownership across key geographies is prompting greater canine healthcare infrastructure deployment
Increasing dog ownership across key geographies is prompting greater canine healthcare infrastructure deployment
Fact.MR, Rockville MD: Ongoing veterinary progesterone testing market study forecasts a gradual albeit positive expansion outlook for 2021 over 2020, as veterinary treatment procedures experience a resurgence from the COVID-19 pandemic induced downswing. Long-term prospects also appear optimistic, with the increasing pet humanization trend fostering prolific future developments in animal care.
Growth of the market is also largely attributed to heightened animal care spending by government entities. As per data published by the United States Census Bureau, for the decade ending in 2017, pet care service sales doubled to US$ 5.8 billion. Furthermore, the American Pet Products Association estimated the total pet care expenditure to increase to US$ 99 billion across the United States, out of which vet care would constitute over US$ 30 billion.
Healthcare providers, therefore, are expected to invest large sums of money in developing veterinary care infrastructure, thereby enhancing the scope for animal progesterone testing. Players such as Siemens, Tosoh and bioMerieux are already active in this sphere, manufacturing the Immulite 1000 Immunoassay System, the ST AIA-PACK PROG System and MINI VIDAS® Compact Multiparametric Immunoanalyzer respectively.
“Rising pet ownership attributed to growing pet humanization trends is prompting increased spending for disbursing advanced quality veterinary care, prompting key service providers to offer advanced progesterone testing systems equipped with the latest technology,” comments the Fact.MR analyst.
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Key Takeaways from Fact.MR’s Veterinary Progesterone Testing Study
- By test type, ELISA based progesterone testing to experience high adoption owing to its simplicity
- Maximum uptake is expected across veterinary hospitals; veterinary specialty clinics witnessing a simultaneous incline
- Progesterone testing for bitches is anticipated to register a noteworthy incline amid growing canine ownership in forthcoming years
- With 85 million families owing pets, deployment across the US market to remain highest in North America
- UK veterinary progesterone testing market to experience breakthrough amid rising ownership of small animal pets
- Emphasis on providing affordable veterinary care to bolster French & German growth prospects
- India to experience deeper penetration in the wake of increasing emphasis on veterinary care academic programs implementation
- Japan is expected to generate high growth opportunities in the East Asian market
Veterinary Progesterone Testing Market- Prominent Drivers
- Canine-based progesterone testing is majorly driving market growth, as global dog ownership increases
- Molecular based testing is likely to increase amid greater effectiveness in detecting maladies such as ovarian cancer
- Increasing animal humanization trends are prompting greater adoption of pets across emerging markets, thus enhancing growth prospects
Veterinary Progesterone Testing Market- Key Restraints
- Slow penetration of advanced veterinary care is likely to hinder growth across developing regions
- High costs incurred while undergoing diagnosis is discouraging pet owners from availing testing procedures, restraining growth
Discover more about the veterinary progesterone testing market with figures, data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/3184/veterinary-progesterone-testing-market
Competitive Landscape
TestLine Clinical Diagnostics S.R.O., Bio-Equip, Biovenka, DRG Instruments GmbH, Creative Diagnostics, Biocom Biotech, IDEXX Laboratories Inc., uBio Biotechnology Systems Pvt. Ltd., BioChek, PerkinElmer Inc., Medix Biochemica (Lee Biosolutions) and Demeditec Diagnostics GmbH are some prominent veterinary progesterone testing solutions providers profiled by Fact.MR.
Introduction of new testing approaches is assisting the aforementioned service providers in acquiring larger gains within the market. For instance, in 2019, IDEXX Laboratories Inc. introduced a new canine progesterone test for Catalyst Dx® and Catalyst One® chemistry analyzers, which are in-house and enables real-time accurate prediction of timing for canine breeding.
Capacity expansion is another important expansion strategy for some prominent service providers. For instance, in November 2019, Lee Biosolutions was acquired by Medix Biochemica, with the objective of expanding the latter’s bioreagents portfolio across the US market. This also provided a platform for enhanced veterinary progesterone testing scope.
More Insights on the Veterinary Progesterone Testing Systems Market
In its latest report, Fact.MR offers unbiased analysis of the global veterinary progesterone testing market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of test types (RIA testing, ELISA testing and chemiluminescence (immulite) testing) and distribution channel (veterinary hospitals, veterinary specialty clinics, and commercial laboratories) across seven major regions (North America, APEJ, Japan, Western Europe, Eastern Europe, Latin America and Middle East & Africa).
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