Veterinary Point Of Care Diagnostics Market by Product (Consumables, Reagents & Kits, Instruments & Device), Technology (Clinical Biochemistry, Hematology, Immunodiagnostics), Sample Type, Animal Type, Application, End-User - Global Forecast 2024-2030

Veterinary Point Of Care Diagnostics Market by Product (Consumables, Reagents & Kits, Instruments & Device), Technology (Clinical Biochemistry, Hematology, Immunodiagnostics), Sample Type, Animal Type, Application, End-User - Global Forecast 2024-2030

The Veterinary Point Of Care Diagnostics Market size was estimated at USD 1.73 billion in 2023 and expected to reach USD 1.94 billion in 2024, at a CAGR 12.26% to reach USD 3.89 billion by 2030.

The veterinary point-of-care diagnostics market encompasses the various diagnostic testing devices and services used by veterinarians to detect and monitor diseases in animals at or near the site of patient care. These tests provide rapid results, enabling informed decisions for timely treatment and management of animal health issues. The increasing pet ownership rates globally and increasing awareness among pet owners about animal health and welfare are increasing the need for veterinary point-of-care diagnostics. However, high initial investment costs for advanced diagnostic equipment and a shortage of skilled veterinary professionals specializing in diagnostics restrict the growth of the veterinary point-of-care diagnostics market. Furthermore, growing demand for portable solutions that can be easily deployed during farm visits or emergencies and supportive government policies related to animal health monitoring programs leading to increasing investments in R&D are expected to create lucrative opportunities for veterinary point-of-care diagnostics.

Regional Insights

In the United States and Canada, there is a growing demand for veterinary point-of-care diagnostics due to the increasing pet adoption rates and greater awareness of animal healthcare. Companies in the Americas regions are investing heavily in research and development to create innovative diagnostic technologies, such as portable devices for rapid detection of common diseases in companion animals. Furthermore, advancements to include AI and ML technologies have further led to rapid progress in point-of-care diagnostics techniques and devices in the region. European Union countries have witnessed significant growth in the veterinary point-of-care diagnostics sector due to stringent regulations on animal welfare. Consequently, companies operating within this region are focusing on developing cost-effective solutions for timely diagnosis at farms or clinics. Research collaborations between academic institutions and industry players have resulted in novel diagnostic platforms. China, Japan, and India are emerging economies in the veterinary point-of-care diagnostics sector with increasing disposable incomes, urbanization, and livestock production. APAC countries are expanding efforts to improve livestock health and improve monitoring of cattle and poultry using diagnostics technologies. Many countries in the region have initiated programs to improve animal disease surveillance and control and strengthen veterinary infrastructure.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Veterinary Point Of Care Diagnostics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising incidences of veterinary diseases and increasing awareness about pet health
• Government initiatives and incentives to improve the health and productivity of farm animals

Market Restraints

• Complex reimbursement and insurance policies for animal healthcare

Market Opportunities

• Adoption of AI, ML, and big data technologies for point-of-care diagnostics
• Advances in digital health and wearable technologies for improved animal care

Market Challenges

• Intricate regulatory networks and standards for point-of-care animal diagnostics

Market Segmentation Analysis

• Product: Preference for portable analyzers in remote or rural settings due to limited access to specialized laboratories
• Technology: Use of immunodiagnostics in early disease detection and autoimmune disorders management
• Application: Adoption of point-of-care diagnosis for bacteriology due to the growing number of bacterial infections
• End-user: Inclination towards easy and quick diagnostics techniques in home care settings

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Veterinary Point Of Care Diagnostics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Veterinary Point Of Care Diagnostics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Mars to Acquire Heska, Global Provider of Advanced Veterinary Diagnostic and Specialty Solutions

Mars, Incorporated and Heska Corporation have reached a definitive agreement for the acquisition of Heska by Mars at a premium of approximately 38%. The transaction has received unanimous approval from the boards of directors of both companies. Following the completion of the acquisition, Heska is expected to become a part of Mars Petcare's Science & Diagnostics division. This integration will allow the division to enhance its diagnostic offerings and further advance point-of-care diagnostics in the global pet healthcare industry.

Sound Technologies and GE HealthCare Announce Collaboration to Bring Vscan Air Handheld Ultrasound to Veterinary Practices Across the United States

GE Healthcare and Sound Technologies have recently announced a distribution agreement for Vscan Air, a state-of-the-art wireless pocket-sized ultrasound device designed specifically for veterinary practices in the United States. The Vscan Air ultrasound device offers exceptional image clarity and the ability to scan the entire patient, aiding veterinarians in diagnosing a wide range of conditions that animals may be prone to, all without exposing them to ionizing radiation. This cutting-edge ultrasound technology, paired with its user-friendly app and intuitive software, empowers veterinarians to provide accurate and efficient diagnoses for their animal patients.

Pet Care Startup Vetic Raises $3.7 Million In Seed Round

Vetic, a technology-enabled chain of pet clinics, recently secured USD 3.7 million in seed funding to provide comprehensive medical care to pets while also offering convenience for their nutrition and wellness needs. The raised capital will be utilized to enhance technology, establish state-of-the-art medical infrastructure, and expand the clinic network across the Delhi NCR and Bangalore regions. The company is dedicated to delivering high-quality medical care through its network of modern, technology-driven pet clinics staffed by experienced veterinary doctors and equipped with cutting-edge medical facilities.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Veterinary Point Of Care Diagnostics Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Veterinary Point Of Care Diagnostics Market, highlighting leading vendors and their innovative profiles. These include AniPOC, Ltd., BioMérieux SA, Chembio Diagnostic Systems, Inc., Esaote SpA, FUJIFILM Holdings Corporation, Heska Corporation, IDEXX Laboratories, Inc., Mindray Medical International Limited, Neogen Corporation, Nova Biomedical Corporation, Randox Laboratories Ltd., Virbac Corporation, Woodley Equipment Company Inc., and Zoetis, Inc..

Market Segmentation & Coverage

This research report categorizes the Veterinary Point Of Care Diagnostics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product

Consumables, Reagents & Kits

Instruments & Device

Technology

Clinical Biochemistry

Hematology

Immunodiagnostics

Molecular Diagnostics

Sample Type

• Blood/Plasma/Serum
• Fecal
• Urine
• Animal Type
  • Companion Animals
  • Cats
  • Dogs
  • Horses
  • Livestock Animals
  • Cattle
  • Poultry
  • Swine

Application

• Bacteriology
• Clinical Pathology
• Parasitology
• Virology
• End-User
• Home Care Settings
• Veterinary Clinics
• Veterinary Hospitals & Academic Institutes

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year