PRZOOM - /newswire/ -
Atlanta, GA, United States, 2009/09/29 - TSG reviews the $1.8 billion global animal diagnostics market, as well as the macro trends and key features that make it uniquely attractive for diagnostics players looking to expand into applied markets.
The global market for animal diagnostics has outpaced the growth of the broader animal health market, and is expected to reach $2.8 billion worldwide by 2013. TSG, a global leader in strategic advisory and transaction services for the life sciences and nutrasciences sectors, has profiled this category as part of a series of reports on applied diagnostic markets.
Growth in animal diagnostics has accelerated to 10% annually due to a convergence of technology advances and market dynamics for both commercial and companion animal testing. Adjacent markets, such as agricultural diagnostics, food testing and aquaculture, are also seeing significant growth.
While the broader animal health market has traditionally been highly concentrated, sector shakeup is expected in animal diagnostics as clinical diagnostics and detection companies seek to extend the reach of technologies and platforms beyond human clinical and research use, and as biopharma or lab service companies seek to expand their franchises in animal health.
“Macro trends in animal health have created a unique opportunity for diagnostics players looking to enter applied markets,” says TSG CEO Panna Sharma. “In spite of the economic downturn, consumers have increased spending on premium animal health and wellness products for companion animals. At the same time, commercial animal testing in emerging markets is on the rise, due to a desire to maximize ROI on livestock, along with growing interest in specialty genetic testing to confirm parentage or identify hereditary defects.”
TSG highlights several key geographic trends, including global trade effects on animal testing and expected developments in emerging economies. The report closes with an overview of the competitive landscape for animal diagnostics, by ranking 22 leading private and public companies in animal diagnostics on their technology and marketing strengths and reviewing leading public animal diagnostic franchises such as Heska, IDEXX Laboratories, Neogen and VCA Antech.
Individuals interested in learning more can download the report on TSG's homepage, tsg-partners.com, where they can also register to receive TSG's market updates featuring commentary and key developments across TSG's ten proprietary market indices, which include the TSG Global Diagnostics index, Global Discovery BioTools, Global AgBio, B2B Nutrasciences and B2C Nutrasciences.
TSG (tsg-partners.com) is a specialty advisory group that combines growth strategy and corporate finance to create shareholder value for companies in the life sciences, biotechnology, healthcare, and wellness sectors. TSG’s approach is based on a combination of independent analysis of the markets and customer needs and a deep appreciation of the technology landscape and capital markets environment. TSG’s sole focus is on bringing together growth strategy and transaction insight to build sector leaders in life sciences. TSG has presence in Atlanta, Boston, New York and San Diego and was founded in 2001 by Panna Sharma.