Veterinary Diagnostics Industry Overview
The global veterinary diagnostics market size was estimated at USD 9.29 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 10.02s% from 2024 to 2030. Some of the key factors driving the market growth include increased expenditure on animal health, rising incidence of diseases in animals, advancements in diagnostics, and increasing medicalization rate. In November 2023, IDEXX announced the launch of- SNAP Leish 4Dx Test in Europe and Asia for screening vector-borne diseases, such as canine leishmaniosis. This expanded the company’s portfolio. Continuous advancements in veterinary diagnostic technologies, including molecular diagnostics, imaging modalities, and PoC testing, have significantly expanded the capabilities of diagnosing diseases in animals.
Gather more insights about the market drivers, restrains and growth of the Veterinary Diagnostics Market
These innovations not only enhance the accuracy and speed of diagnostics but also contribute to the overall industry growth as veterinarians and pet owners seek state-of-the-art solutions for comprehensive healthcare.The development and adoption of PoC diagnostic tools that provide rapid and on-site results have become a significant driver. These tools allow for quick decision-making in veterinary practices, enabling timely and efficient treatment, which is crucial for the health outcomes of animals. A rise in the prevalence of infectious diseases among animals, including zoonotic diseases, has emphasized the need for accurate and timely diagnostics.
Veterinary diagnostic products play a crucial role in identifying and managing diseases, enabling prompt treatment, and preventing the spread of infections. As with humans, animals are susceptible to chronic and age-related conditions. The growing aging pet population, coupled with an increased focus on preventive healthcare, drives the demand for diagnostics that can aid in the early detection and management of conditions, such as arthritis, diabetes, and cancer. The growing incidence of infectious animal ailments as well as chronic diseases is expected to fuel the demand for veterinary diagnostics.
Browse through Grand View Research's Animal Health Industry Research Reports.
- The global molecular diagnostics market size was estimated at USD 15.20 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2030.
- The global point of care diagnostics market size was valued at USD 44.24 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2030.
Veterinary Diagnostics Market Segmentation
Grand View Research has segmented the global veterinary diagnostics market on the basis of product, animal type, testing category, end-use, and region:
Veterinary Diagnostics Product Outlook (Revenue, USD Million, 2018 - 2030)
- Consumables, Reagents Kits
- Equipment Instruments
Veterinary Diagnostics Testing Category Outlook (Revenue, USD Million, 2018 - 2030)
- Clinical Chemistry
- Microbiology
- Parasitology
- Histopathology
- Cytopathology
- Hematology
- Immunology Serology
- Imaging
- Molecular Diagnostics
- Other Categories
Veterinary Diagnostics Animal Type Outlook (Revenue, USD Million, 2018 - 2030)
- Production Animals
- Cattle
- Poultry
- Swine
- Other Production Animals
- Companion Animals
- Dogs
- Cats
- Horses
- Other Companion Animals
Veterinary Diagnostics End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Reference Laboratories
- Veterinarians
- Animal Owners/Producers
Veterinary Diagnostics Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Denmark
- Netherlands
- Sweden
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Thailand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East Africa
- South Africa
- Saudi Arabia
- Kuwait
- UAE
- Rest of MEA
Key Companies profiled:
- IDEXX Laboratories, Inc.
- Zoetis
- Antech Diagnostics, Inc. (Mars Inc.)
- Agrolabo S.p.A.
- Embark Veterinary, Inc.
- Esaote SPA
- Thermo Fisher Scientific, Inc.
- Innovative Diagnostics SAS
- Virbac
- FUJIFILM Corporation
Key Veterinary Diagnostics Company Insights
The market is characterized by the presence of several, large, medium, and small companies. Some of the key players operating in the market include IDEXX Laboratories, Inc.; Zoetis; Antech Diagnostics, Inc. (Mars Inc.); and Agrolabo S.p.A. Market players often engage in collaborations and partnerships with veterinary clinics, research institutions, and academic organizations.
These collaborations aim to enhance RD efforts, share knowledge, and expand the reach of diagnostic products in the veterinary healthcare ecosystem. Companies are also increasingly expanding their geographical presence to tap into emerging markets and capitalize on the growing awareness about veterinary diagnostics. Globalization allows companies to reach a wider customer base and address the diverse needs of veterinarians and pet owners worldwide.
Recent Developments
- In June 2023,Mars, Inc. completed the acquisition of Heska by merging it into its Petcare Science Diagnostics division. This expanded its portfolio
- In June 2023, IDEXX launched the first test for detecting kidney injury in cats and dogs called the IDEXX Cystatin B Test
- In December 2021, PetDx- specializing in liquid biopsy for pets, raised about USD 62 million in series B funding. This enabled the company to expand the implementation of its liquid biopsy test for cancer detection in dogs called OncoK9 and to increase testing at its central laboratory in San Diego
Order a free sample PDF of the Veterinary Diagnostics Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
