Veterinary Diagnostics Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	165 Pages	Fortune Business Insights Pvt. Ltd.	October, 2024	FOB19224309

Best Price Guarantee
Price	from $4,850
Length	165 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	October, 2024
SKU	FOB19224309

Veterinary Diagnostics Market

Growth Factors of Veterinary Diagnostics Market

The veterinary diagnostics market size was valued at USD 7.13 billion in 2023, and the market is now projected to grow from 7.97 billion in 2024 to USD 17.60 billion by 2032, exhibiting a CAGR of 10.4% during the forecast period of 2024-2032.

The veterinary diagnostics market was particularly affected by the COVID-19 outbreak; it had both threats and possibilities. Earlier on, the outbreak affected demand through effects such as disruption of supply chains, and reduced visits to vet centers. Nevertheless, higher proportion of households acquiring pets during the start of lockdowns and more general awareness of zoometric diseases improved the demand for diagnostic services. They all pointed to a significant increase in the adoption of telemedicine and innovations on point of care testing. Furthermore, the pandemic portrayed animals as factors that require continued funding to improve detecting diseases in animals for the general public’s welfare.

Current development registered in the veterinary diagnostics market as a result of COVID 19 impacts include elevated trends in delivering veterinary diagnostics through virtual consultations and remote monitoring instruments as a result of conscious efforts to enhance physical distance. There is increased adoption of point-of-care diagnostic solutions since it is much easier to test at the point of care than at a central laboratory. Furthermore, there is an increasing interest in zoonotic diseases because the world is becoming more knowledgeable of animal-human related diseases. There is also observed emerging new technologies in the field of molecular diagnostics and artificial intelligence to improve the precision of diagnostic results. These trends speak volumes of the need for an embrace of innovation, and flexibility, due to continually emerging health care needs. Thus, all the above mentioned factors are contributing towards the veterinary diagnostics market growth.

Trends responsible for the growth of veterinary diagnostics industry include; rising incidences of animal diseases increase in pet ownership, and enhanced knowledge of animal health. Technological improvement in diagnostics, in molecular diagnostics, point-of-care and intelligent applications is improving the efficiency and accuracy of diagnostics. The increasing need for livestock diagnostics which is a key in disease control in food production is also a key driver for the market. Furthermore, more attention paid to the development of veterinary health care as well as potential dangers of zoonotic diseases are also being seen as key factors driving growth of the new diagnostics in this field.

Comprehensive Analysis Veterinary Diagnostics Market

The veterinary diagnostics can be broadly classified by product type, technique and by type of animal. Further, it is categorized by product type which mainly consists of instruments and reagents and consumables required to offer correct diagnosis. In terms of technique the market is divided into Hematology section, Immunodiagnostics section, Molecular Diagnostics section, Diagnostic imaging section, Clinical Bio Chemistry section and other which are very much useful in detecting animal diseases. By animal type, the market has been categorized into livestock animals and companion animals since many owners want their animals to be tested for their health.

North America dominates the veterinary diagnostics market share owing to its improved healthcare facility, rising interest in pet cats and dogs, and the elevated spending on pet healthcare. Government emphasis on R&D of diagnostic products and services, increased prevalence of zoonotic diseases, contribute to regional market growth. Moreover, important market players are located in this region, and the increased number of products to diagnose diseases in pets and livestock plays a significant role in the regional market share. This market is well led by this region due to the favorable Government policies and also the growing adoption of point of care diagnostics.

Key players in this sector include IDEXX Laboratories, Inc. (U.S.), Zoetis Services LLC (U.S.), Heska Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Avante Animal Health (U.S.), Virbac (France), Randox Laboratories Ltd. (U.K.), VCA Animal Hospitals (Mars, Incorporated) (U.S.)

Analyzing the veterinary diagnostics market in 2023, one confident trend is the gradual shift in the emphasis onto molecular diagnostics, including the point-of-care type. This uses the feature of rapid and precise identification of the relevant DNA signatures and pathogens in both pets and farm animals. Growing demands on the early diagnostics of diseases as well as individual approaches to the treatment of animals have promoted the use of molecular diagnostics due to their higher efficiency compared to the more traditional methods. Also, improvements in portable diagnostics equipment enable veterinarians increasingly to conduct diagnostic tests on-site, enhancing general organizational/processing aspects of animal care.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 10.4% from 2024-2032

Unit Value (USD Billion)

Segmentation By Product Type

Instruments
Reagents & Consumables

By Technique

Hematology
Immunodiagnostics
Molecular Diagnostics
Diagnostic Imaging
Clinical Biochemistry
Others

By Animal Type

Livestock
Companion

By End User

Veterinary Hospitals & Clinics
Veterinary Reference Laboratories
Others

By Region

North America (By Product Type, By Technique, By Animal Type, By End User, and By Country)
U.S.
Canada
Europe (By Product Type, By Technique, By Animal Type, By End User, and By Country/Sub-Region)
Germany
U.K.
France
Italy
Spain
Scandinavia
Rest of Europe
Asia Pacific (By Product Type, By Technique, By Animal Type, By End User, and By Country/Sub-Region)
China
India
Japan
Australia
Southeast Asia
Rest of Asia Pacific
Latin America (By Product Type, By Technique, By Animal Type, By End User, and By Country/Sub-Region)
Brazil
Mexico
Rest of Latin America
Middle East & Africa (By Product Type, By Technique, By Animal Type, By End User, and By Country/Sub-Region)
GCC
South Africa
Rest of Middle East & Africa

Please Note: It will take 5-6 business days to complete the report upon order confirmation.

1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities; 3.4. Market Trends
4. Key Insights: 4.1. Pet Ownership Statistics, By Key Countries, 2023; 4.2. Prevalence of Key Veterinary Diseases, By Key Countries/ Regions; 4.3. Overview of Pet Insurance, By Key Countries/ Regions; 4.4. Key Industry Developments (Mergers, Acquisitions, Partnerships); 4.5. Technological Advancements in Veterinary Diagnostics; 4.6. Impact of Covid-19 on the Market
5. Global Veterinary Diagnostics Market Analysis, Insights and Forecast, 2019-2032: 5.1. Market Analysis, Insights and Forecast – By Product Type; 5.1.1. Instruments; 5.1.2. Reagents & Consumables; 5.2. Market Analysis, Insights and Forecast – By Technique; 5.2.1. Hematology; 5.2.2. Immunodiagnostics; 5.2.3. Molecular Diagnostics; 5.2.4. Diagnostic Imaging; 5.2.5. Clinical Biochemistry; 5.2.6. Others; 5.3. Market Analysis, Insights and Forecast – By Animal Type; 5.3.1. Livestock; 5.3.2. Companion; 5.4. Market Analysis, Insights and Forecast – By End-user; 5.4.1. Veterinary Hospitals & Clinics; 5.4.2. Veterinary Reference Laboratories; 5.4.3. Others; 5.5. Market Analysis, Insights and Forecast – By Region; 5.5.1. North America; 5.5.2. Europe; 5.5.3. Asia Pacific; 5.5.4. Latin America; 5.5.5. Middle East & Africa
6. North America Veterinary Diagnostics Market Analysis, Insights and Forecast, 2019-2032: 6.1. Market Analysis, Insights and Forecast – By Product Type; 6.1.1. Instruments; 6.1.2. Reagents & Consumables; 6.2. Market Analysis, Insights and Forecast – By Technique; 6.2.1. Hematology; 6.2.2. Immunodiagnostics; 6.2.3. Molecular Diagnostics; 6.2.4. Diagnostic Imaging; 6.2.5. Clinical Biochemistry; 6.2.6. Others; 6.3. Market Analysis, Insights and Forecast – By Animal Type; 6.3.1. Livestock; 6.3.2. Companion; 6.4. Market Analysis, Insights and Forecast – By End-user; 6.4.1. Veterinary Hospitals & Clinics; 6.4.2. Veterinary Reference Laboratories; 6.4.3. Others; 6.5. Market Analysis, Insights and Forecast – By Country; 6.5.1. U.S.; 6.5.2. Canada
7. Europe Veterinary Diagnostics Market Analysis, Insights and Forecast, 2019-2032: 7.1. Market Analysis, Insights and Forecast – By Product Type; 7.1.1. Instruments; 7.1.2. Reagents & Consumables; 7.2. Market Analysis, Insights and Forecast – By Technique; 7.2.1. Hematology; 7.2.2. Immunodiagnostics; 7.2.3. Molecular Diagnostics; 7.2.4. Diagnostic Imaging; 7.2.5. Clinical Biochemistry; 7.2.6. Others; 7.3. Market Analysis, Insights and Forecast – By Animal Type; 7.3.1. Livestock; 7.3.2. Companion; 7.4. Market Analysis, Insights and Forecast – By End-user; 7.4.1. Veterinary Hospitals & Clinics; 7.4.2. Veterinary Reference Laboratories; 7.4.3. Others; 7.5. Market Analysis, Insights and Forecast – By Country/ Sub-Region; 7.5.1. Germany; 7.5.2. U.K.; 7.5.3. France; 7.5.4. Italy; 7.5.5. Spain; 7.5.6. Scandinavia; 7.5.7. Rest of Europe
8. Asia Pacific Veterinary Diagnostics Market Analysis, Insights and Forecast, 2019-2032: 8.1. Market Analysis, Insights and Forecast – By Product Type; 8.1.1. Instruments; 8.1.2. Reagents & Consumables; 8.2. Market Analysis, Insights and Forecast – By Technique; 8.2.1. Hematology; 8.2.2. Immunodiagnostics; 8.2.3. Molecular Diagnostics; 8.2.4. Diagnostic Imaging; 8.2.5. Clinical Biochemistry; 8.2.6. Others; 8.3. Market Analysis, Insights and Forecast – By Animal Type; 8.3.1. Livestock; 8.3.2. Companion; 8.4. Market Analysis, Insights and Forecast – By End-user; 8.4.1. Veterinary Hospitals & Clinics; 8.4.2. Veterinary Reference Laboratories; 8.4.3. Others; 8.5. Market Analysis, Insights and Forecast – By Country/ Sub-Region; 8.5.1. China; 8.5.2. India; 8.5.3. Japan; 8.5.4. Australia; 8.5.5. Southeast Asia; 8.5.6. Rest of Asia Pacific
9. Latin America Veterinary Diagnostics Market Analysis, Insights and Forecast, 2019-2032: 9.1. Market Analysis, Insights and Forecast – By Product Type; 9.1.1. Instruments; 9.1.2. Reagents & Consumables; 9.2. Market Analysis, Insights and Forecast – By Technique; 9.2.1. Hematology; 9.2.2. Immunodiagnostics; 9.2.3. Molecular Diagnostics; 9.2.4. Diagnostic Imaging; 9.2.5. Clinical Biochemistry; 9.2.6. Others; 9.3. Market Analysis, Insights and Forecast – By Animal Type; 9.3.1. Livestock; 9.3.2. Companion; 9.4. Market Analysis, Insights and Forecast – By End-user; 9.4.1. Veterinary Hospitals & Clinics; 9.4.2. Veterinary Reference Laboratories; 9.4.3. Others; 9.5. Market Analysis, Insights and Forecast – By Country/ Sub-Region; 9.5.1. Brazil; 9.5.2. Mexico; 9.5.3. Rest of Latin America
10. Middle East & Africa Veterinary Diagnostics Market Analysis, Insights and Forecast, 2019-2032: 10.1. Market Analysis, Insights and Forecast – By Product Type; 10.1.1. Instruments; 10.1.2. Reagents & Consumables; 10.2. Market Analysis, Insights and Forecast – By Technique; 10.2.1. Hematology; 10.2.2. Immunodiagnostics; 10.2.3. Molecular Diagnostics; 10.2.4. Diagnostic Imaging; 10.2.5. Clinical Biochemistry; 10.2.6. Others; 10.3. Market Analysis, Insights and Forecast – By Animal Type; 10.3.1. Livestock; 10.3.2. Companion; 10.4. Market Analysis, Insights and Forecast – By End-user; 10.4.1. Veterinary Hospitals & Clinics; 10.4.2. Veterinary Reference Laboratories; 10.4.3. Others; 10.5. Market Analysis, Insights and Forecast – By Country/ Sub-Region; 10.5.1. GCC Countries; 10.5.2. South Africa; 10.5.3. Rest of Middle East & Africa
11. Competitive Analysis: 11.1. Global Market Share Analysis (2023); 11.2. Company Profiles; 11.2.1. IDEXX Laboratories, Inc.; 11.2.1.1. Overview; 11.2.1.2. Product; 11.2.1.3. SWOT Analysis; 11.2.1.4. Recent Developments; 11.2.1.5. Strategies; 11.2.1.6. financials (Based on Availability); 11.2.2. Zoetis Services LLC; 11.2.2.1. Overview; 11.2.2.2. Product; 11.2.2.3. SWOT Analysis; 11.2.2.4. Recent Developments; 11.2.2.5. Strategies; 11.2.2.6. financials (Based on Availability); 11.2.3. Heska Corporation; 11.2.3.1. Overview; 11.2.3.2. Product; 11.2.3.3. SWOT Analysis; 11.2.3.4. Recent Developments; 11.2.3.5. Strategies; 11.2.3.6. financials (Based on Availability); 11.2.4. Thermo Fisher Scientific Inc.; 11.2.4.1. Overview; 11.2.4.2. Product; 11.2.4.3. SWOT Analysis; 11.2.4.4. Recent Developments; 11.2.4.5. Strategies; 11.2.4.6. financials (Based on Availability); 11.2.5. Avante Animal Health; 11.2.5.1. Overview; 11.2.5.2. Product; 11.2.5.3. SWOT Analysis; 11.2.5.4. Recent Developments; 11.2.5.5. Strategies; 11.2.5.6. financials (Based on Availability); 11.2.6. Virbac; 11.2.6.1. Overview; 11.2.6.2. Product; 11.2.6.3. SWOT Analysis; 11.2.6.4. Recent Developments; 11.2.6.5. Strategies; 11.2.6.6. financials (Based on Availability); 11.2.7. Randox Laboratories Ltd.; 11.2.7.1. Overview; 11.2.7.2. Product; 11.2.7.3. SWOT Analysis; 11.2.7.4. Recent Developments; 11.2.7.5. Strategies; 11.2.7.6. financials (Based on Availability); 11.2.8. VCA Animal Hospitals (Mars, Incorporated); 11.2.8.1. Overview; 11.2.8.2. Product; 11.2.8.3. SWOT Analysis; 11.2.8.4. Recent Developments; 11.2.8.5. Strategies; 11.2.8.6. financials (Based on Availability); 11.2.9. Shenzhen Mindray Bio-Medical Electronics Co., Ltd; 11.2.9.1. Overview; 11.2.9.2. Product; 11.2.9.3. SWOT Analysis; 11.2.9.4. Recent Developments; 11.2.9.5. Strategies; 11.2.9.6. financials (Based on Availability)