The global veterinary diagnostics market size is expected to reach USD 4,757.7 million by 2030 according to a new study by Polaris Market Research. The report “Veterinary Diagnostic Market Share, Size, Trends, Industry Analysis Report, By Product (Consumables, Reagents & Kits, Instruments & Devices); By Species; By Testing Type; By Disease Type; By End-Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing demand for veterinary diagnostics is due to the increasing demand for animal-derived food products and the rising prevalence of foodborne and zoonotic diseases. Additionally, favorable government initiatives and advancements in veterinary diagnostics methods are also the factors stimulating the market’s growth.
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Growth in the companion animal population and increasing adoption of pet insurance have created lucrative opportunities for veterinary practitioners. Additionally, increased in-clinic diagnostic procedures and a rise in the acquisition and use of various diagnostic tools used in veterinary practices are driving the market's expansion.
Furthermore, it is anticipated that a rise in the number of high-income households with pets and frequent visits to veterinary clinics will fuel the industry. Companion animal diagnostics and in-clinic diagnostic techniques enhance the number of animals diagnosed with cutting-edge tools and processes that ensure precise and quick outcomes.
Veterinary Diagnostics Market Report Highlights
- Consumables, reagents & kits acquired the largest market share in 2021 owing to the commercial availability of a wide range of reagents and consumables for various diseases and animal health screening, increased awareness of routine animal health check-ups leading to its frequent usage of consumables, and the advent of different POC procedures and assays.
- Canine species accounted for considerable market revenue in 2021 due to the high occurrence of major diseases like cancer, diabetes, and obesity in dogs.
- The pathology testing type segment obtained a significant market share during the forecast timeline due to the increased adoption of diagnostic techniques like histopathology and immune histochemistry that are used to identify changes in an animal's tissues brought on by a disease or another sickness.
- Non-infectious disease type captured the largest market revenue in 2021 as diagnostic procedures using advanced technology to identify animal illnesses have increased.
- The laboratories segment accounted for a significant market share due to the large volume of veterinary laboratory samples.
- North America dominated the regional market due to growing pet adoption in Canada and the growing population of dogs in the US.
- The global market is highly competitive owing to the existence of large industry players with a global presence including Abaxis Inc, Agrolabo SPA, Alvedia, BioChek, Biomerieux, Bionote, Inc., Biopanda Reagents Ltd, Covetrus, Fassisi GmbH, Henry Schein Inc., Heska Corporation, Idexx Laboratories Inc, IDVet, IM3Vet Pty Ltd., IncIm3 Inc, INDICAL BIOSCIENCE GmbH, Merck, Neogen Corp, Precision Biosensor, Inc., Qiagen N.V, Randox Laboratories Ltd., Shenzhen Bioeasy Biotechnology Co., Ltd, SKYER, Inc., Thermo Fisher Scientific Inc, VCA Antech, Virbac Corp, and Zoetis.
Polaris Market Research has segmented the veterinary diagnostics market report based on product, species, testing type, disease type, end-use, and region:
Veterinary Diagnostic, Product Outlook (Revenue - USD Million, 2018 - 2030)
- Consumables, Reagents & Kits
- Instruments & Devices
Veterinary Diagnostic, Species Outlook (Revenue - USD Million, 2018 - 2030)
Veterinary Diagnostic, Testing Type Outlook (Revenue - USD Million, 2018 - 2030)
- Analytical Services
- Diagnostic Imaging
- Molecular Diagnostic
Veterinary Diagnostic, Disease Type Outlook (Revenue - USD Million, 2018 - 2030)
- Infectious Diseases
- Non-Infectious Diseases
- Hereditary, Congenital and Acquired Diseases
- General Animals
- Structural and Functional Diseases
Veterinary Diagnostic, End-Use Outlook (Revenue - USD Million, 2018 - 2030)
- Veterinary Hospitals and Clinics
- Point-Of-Care/In-House Testing
- Research Institutes and Universities
Veterinary Diagnostic, Regional Outlook (Revenue - USD Million, 2018 - 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa