Published On : 30 Jul 2018
Diagnosis is more important than therapeutics, because detecting a disease at an early stage can significantly reduce the requirement of outside medication as well as heal the body considerably quickly. In terms of livestock, the need for diagnostic equipment is even more prominent as animals cannot speak to us to reveal their sickened feeling and are prone to infect rest of the farm too. This makes for a situation that all livestock owners must oblige to and take adequate measures to counter viral disease outbreaks, which in turn means an expanding demand for livestock diagnostics.
Strict Government Mandates for Livestock Health Monitoring
Governments across the world have taken a note of the havoc that livestock diseases can cause, with swine flu doing humongous damage in the recent past. Federal agencies have come up with stringent regulations that mandates livestock farmers to periodically check the health of their animals, which in turn is providing a strong traction to the global livestock diagnostic market. In addition to that, poor health livestock are required for different environment and treatment as well as leads to strong loss of assets in case of a disease outbreak.
To avoid the losses, livestock farmers are themselves opting for new diagnostic equipment, which are now also made portable in order to reach their intended targets. Some of the key product segments of the global livestock diagnostics market are imaging, hematology analyzers, clinical chemistry, molecular diagnostics, and immunodiagnostics. Application-wise, the market can be bifurcated into poultry, pigs, cattle, and others.
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Another slender factor that is reflecting positively on the livestock diagnostics market is growing awareness among rural livestock farmers, particularly in the emerging economies. Non-profit organizations and regulatory bodies have always been pushing to educate the farmers and now social media has also flooded the world with free information.
Strong Lack of Skilled Professionals
On the other hand, strong lack of skilled professionals, particularly in emerging economies, is substantially hindering the prosperity of the global livestock diagnostics market. Most of the budding medical professionals refrain from taking up veterinary segment of the studies as the demand has never been as stronger as for other categories of healthcare. Additionally, there is still requirement for greater awareness among the consumers as well as a need to curtail costs for the farmers.
Thermo Fisher Scientific, Bio-Rad Laboratories, Abaxis, IDEXX Laboratories, Zoetis, IDvet, QIAGEN, Heska, NEOGEN CORPORATION, Shenzhen Mindray Bio-Medical Electronics, Virbac, and VCA are some of the notable companies currently holding a prominent position in the global livestock diagnostics market. Most of these players are currently hoping to make a foray into the emerging economies in Asia Pacific, which has abundance of opportunities.
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