Equine Diagnostic Services Market: Introduction
According to the report, the global equine
diagnostic services market was valued at ~US$ 168 Mn in 2019.
It is projected to expand at a CAGR of ~5% from 2020 to 2030. Equine diagnostic
services are defined as lab testing work services for equine patients in
hospital, clinics, individual labs, and on farms through equine field service.
Tests, such as genetic test and infectious diseases test are often recommended
in healthy and sick equine. The interpretation of multiple tests in conjunction
with one another (profiling) enables rapid and noninvasive assessment of the
major organ systems of a horse. North America dominated the global equine
diagnostics market in 2019. The trend is anticipated to continue during the
forecast period. The trend of horse riding among adults in North America has
increased over the past five years. Moreover, the culture of horse racing and gambling
is renowned in the region, which drives the demand for healthy horses and
consequently, propels the market in the region.
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Mandatory Genetic Testing Adopted by Various Horse
Associations to Drive Equine Diagnostic Services Market
Dozens of genetic tests are presently available, which can offer
insights into equine health, coat color, and even performance potential. The
role genetic tests play in the equine world is expected to only increase in the
near future, as genetic tests become increasingly affordable and accessible.
Most tests for heritable diseases are breed specific, and some organizations
require testing for particular genes prior to registering breeding stallions to
limit the prevalence of certain conditions in the population. This, in turn,
propels the equine diagnostic services market.
Infectious Diseases Testing to Dominate Global
Market
In terms of service type, the global equine diagnostic services market
has been classified into genetic testing, phenotype testing, infectious disease
testing, and others. Infectious diseases such as equine infectious anemia,
equine influenza, and streptococcus equi are largely encountered by equine
every year. The rise in demand for rapid diagnosis of these diseases and
appropriate treatment to gain optimal clinical outcomes of the equine are
likely to fuel the segment.
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Lab Testing & Mobile Setting to be Highly
Attractive Service Setting
In terms of service setting, the equine diagnostic services market has
been divided into lab testing & mobile settings and hospitals &
clinics. Lab testing & mobile setting are dedicated facilities that have
all the necessary reagents, kits, instruments, software, and technicians with
the required skill set to perform sophisticated tests such as molecular diagnostic
tests. This makes reference laboratories the preferred choice, especially among
small private clinics and hospitals. These factors are likely to boost the
segment during the forecast period.
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North America to Dominate Equine Diagnostic
Services Market
The global equine diagnostic services market has been divided into North
America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America dominated the global equine diagnostic services market in 2019,
followed by Europe. North America accounted for a major share of the global
surgical equipment market in 2019, primarily due to well-established equine
healthcare infrastructure that enables proper diagnosis. Moreover, a rise in
genomic research & development activity in the equine healthcare industry
in the U.S. drives the demand for equine diagnostic services.
Competition Landscape of Equine Diagnostic Services
Market
The global equine diagnostic services market is fragmented in terms of
number of players. Key players in the global surgical equipment market include
Generatio GmbH, EquiSeq Inc., VetGen, Animal Genetics Inc., Veterinary Genetics
Laboratory, Etalon Inc., Equine Diagnostic Solution, LLC,IDEXX Laboratories,
Inc., B&W Equine Vets and Neogen Corporation.
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Global Equine Diagnostic Services Market:
Segmentation
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