Veterinary Diagnostics

Global Veterinary Diagnostics Market to Reach US$4.6 Billion by 2030

The global market for Veterinary Diagnostics estimated at US$3.1 Billion in the year 2024, is expected to reach US$4.6 Billion by 2030, growing at a CAGR of 7.0% over the analysis period 2024-2030. Veterinary Diagnostic Consumables, one of the segments analyzed in the report, is expected to record a 8.1% CAGR and reach US$2.6 Billion by the end of the analysis period. Growth in the Veterinary Diagnostic Instruments segment is estimated at 5.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$800.6 Million While China is Forecast to Grow at 11.6% CAGR

The Veterinary Diagnostics market in the U.S. is estimated at US$800.6 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2030 trailing a CAGR of 11.6% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.9% and 7.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.

Global Veterinary Diagnostics Market - Key Trends & Drivers Summarized

What Are Veterinary Diagnostics and Why Are They Critical in Animal Healthcare?

Veterinary Diagnostics refers to the range of tests and procedures used to diagnose diseases and monitor the health of animals. These diagnostics are essential for identifying a wide variety of conditions, from infectious diseases to metabolic disorders, enabling veterinarians to provide timely and effective treatment. Veterinary diagnostics play a critical role not only in clinical settings but also in research, where they support the study of animal health and disease. The field encompasses various types of diagnostics, including molecular diagnostics, immunoassays, clinical chemistry, and hematology, each offering unique insights into an animal`s health status. With the increasing emphasis on preventive healthcare and early diagnosis in veterinary medicine, the demand for advanced diagnostic tools is on the rise.

How Has the Veterinary Diagnostics Industry Evolved?

The veterinary diagnostics industry has evolved significantly, driven by technological advancements and the growing demand for precise and reliable diagnostic tools. Initially, veterinary diagnostics were limited to basic tests that provided only a general overview of an animal`s health. However, the introduction of advanced technologies, such as PCR (polymerase chain reaction), ELISA (enzyme-linked immunosorbent assay), and next-generation sequencing, has revolutionized the field, enabling more specific and sensitive detection of pathogens, genetic disorders, and other health conditions. The development of point-of-care diagnostics has also made it easier for veterinarians to conduct tests in various settings, providing immediate results that can inform treatment decisions. Furthermore, the integration of diagnostics with digital platforms and data management systems has enhanced the ability to track and analyze health trends, supporting more personalized and data-driven veterinary care.

Why Is There a Growing Demand for Veterinary Diagnostics Worldwide?

The demand for Veterinary Diagnostics is growing worldwide due to several factors, including the increasing prevalence of animal diseases and the rising awareness of the importance of early and accurate diagnosis in veterinary care. The surge in pet ownership, particularly in developed countries, has led to greater investment in animal health, with pet owners seeking advanced diagnostics to ensure the well-being of their animals. Additionally, the expansion of the livestock industry, driven by the growing demand for animal products, has heightened the focus on animal health management, leading to increased adoption of veterinary diagnostics. The rise in zoonotic diseases, which can be transmitted from animals to humans, has also underscored the need for robust diagnostic capabilities to monitor and control outbreaks. Moreover, the trend towards preventive veterinary care, which emphasizes early detection and intervention, is driving the demand for comprehensive diagnostic solutions.

What Factors Are Driving the Growth in the Veterinary Diagnostics Market?

The growth in the Veterinary Diagnostics market is driven by several factors, including the increasing incidence of animal diseases and the growing demand for advanced diagnostic tools in veterinary practice. The rising pet population, coupled with an increased focus on pet health and preventive care, has led to greater demand for veterinary diagnostics, boosting the market. Additionally, the expansion of the livestock industry, where animal health directly impacts productivity and profitability, is driving the need for reliable diagnostic tools that can support effective disease management. Technological advancements in diagnostics, such as the development of portable and point-of-care devices, are making these tools more accessible to veterinarians, further fueling market growth. Furthermore, the integration of diagnostics with digital health records and other healthcare IT systems is enhancing the efficiency and accuracy of veterinary care, contributing to the overall growth of the market. Lastly, the growing emphasis on research and development in veterinary medicine, aimed at improving animal health outcomes, is expected to drive continued innovation and demand for veterinary diagnostics.

SCOPE OF STUDY:

The report analyzes the Veterinary Diagnostics market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Product (Consumables, Instruments); Technology (Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Hematology, Other Technologies); Type (Companion Animals, Livestock)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 24 Featured) -

• Abaxis, Inc.
• Heska Corporation
• Idexx Laboratories, Inc.
• Idvet
• Neogen Corporation
• Qiagen NV
• Thermo Fisher Scientific, Inc.
• Virbac Group
• Zoetis, Inc.

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