Veterinary Diagnostics Market: Global Industry Forecast (2023-2029) by Product, Species, Testing Type, Disease Type, End-use, and Region

Veterinary Diagnostics Market size was valued at USD 2.95 Bn. in 2022 and the total Veterinary Diagnostics revenue is expected to grow by 9.5% from 2023 to 2029, reaching nearly USD 5.58 Bn.

Veterinary Diagnostics Market Overview:

The identification and measurement of chemicals in non-human animal source materials is referred as VETERINARY DIAGNOSTICS. Clinical examination is an essential component of veterinary diagnostics. It gives the veterinarian the information he or she needs to identify the condition or diseases causing the clinical anomalies. The clinical examination results should help the veterinarian determine the severity of the pathophysiological processes. Veterinarians apply different veterinary technologies to diagnose the diseases, monitor disease progression or response to medication, and test for the presence of underlying disease in seemingly healthy animals. Growing investment in animal health, rising prevalence of zoonotic illnesses and number of veterinary practitioners, technical progress in point of care diagnostics, and rising disposable income levels in emerging regions have been driving growth of  veterinary diagnostics market. The increasing prevalence of infectious animal diseases is expected to increase the demand for veterinary diagnostics. Additionally, the report has covered the latest developments in the market by region, segments and technologies . Direct impact of acceptance of new procedures in the majority of laboratories on the volume of business is analyzed and estimated in USD terms.

Report Scope:

The report provides a competitive analysis based on a detailed research of key market players by region.  Competitive landscape covered in the report will give deep insight in the market leaders, market followers and new entrants. The key information include their product portfolios, offerings, regional presences, revenue channels, investments, strategic alliance and market entry strategies. The market intelligence report on Veterinary Diagnostics  has segmented the market by Product, Species, Testing Type, Disease Type, End-use, and Region. Data is collected through primary and secondary authenticated sources and same can be shared with buyers of the report. The research investigates the Drivers, Restraints, Opportunities, and Challenges before Veterinary Diagnostics market. The report also supports the modification and resolution of difficulties with the global Veterinary Diagnostics market condition. External and internal market components that are expected to have a favorable or negative impact on the market have been investigated, providing decision-makers with a clear picture of the business's future. The studies also aid in understanding the dynamics and structure of the Veterinary Diagnostics Market by studying market segments and estimating the Veterinary Diagnostics Market size.

Research Methodology:

The Global Veterinary Diagnostics Market report analyses the market for the forecast period 2023-2029. The report is categorized into sections and includes an analysis of industry trends. The data provides a detailed assessment of the current rapid advances in all business categories. Facts and figures, images are used to give key data analysis for the historical period from 2017 through 2021. Based on a complete examination of the current world of global competition in the Veterinary Diagnostics market, this MMR research offers suggestions for the industry, new entrants, established market leaders, and others. Primary research is conducted following secondary research to validate the information collected through secondary research. Secondary research is carried out to identify segment characteristics, qualitative and quantitative data, and the factors driving the market growth. Secondary sources for the investigation included press releases, monthly, quarterly, and annual reports of key players, government websites, and market research papers. Interviews, surveys, significant comments from stakeholders, experienced professionals, and other methods are used in primary research. Veterinary Diagnostics Market To know about the Research Methodology:-Request Free Sample Report

Veterinary Diagnostics Market Dynamics:

Increased prevalence of Tran-boundary and zoonotic diseases driving the market growth. Approximately, 30 major diseases in humans are spread by animals. The majority of human illnesses are transmitted by household pets such as dogs and cats and livestock such as pigs, chickens, cattle, goats, and camels. Among the primary zoonotic illnesses transferred from animals to people are zoonotic gastrointestinal disease, leptospirosis, cysticercosis, zoonotic TB, and rabies. The occurrence of transboundary illnesses has also increased. For example, foot-and-mouth disease (FMD) was estimated to affect approximately 77% of the global livestock population in 2018 in countries across Africa, the Middle East, and Asia, as well as a small area of South America, with a morbidity rate of 100%. (In susceptible cattle populations). The global COVID-19 pandemic produced by the SARS-CoV-2 virus has zoonotic origins. According to phylogenetic research, bats appear to represent the COVID-19 virus's reservoir. Because people and bats often have minimal intimate contact, it is more likely that the virus was transmitted to humans via other animal species handled by humans. This intermediate animal host or zoonotic source has yet to be found and might be a domestic animal, a wild animal, or a domesticated wild animal. The COVID-19 pandemic has resulted in a significant loss of human life globally and poses an unparalleled public health issue. High Cost of Pet Care Diagnostics restraining the market growth. The high cost of animal diagnostics may have a significant impact on market growth. These diagnostic tests are costly because they need the use of personnel, instruments, overhead, and laboratory fees. Veterinary expenses are competitive as well, depending on the nature of the services provided, as well as the pet's weight and size, which determine the costs for services supplied. Because pet owners are more concerned about their pets' health and nutrition, they are more likely to invest in pet healthcare services and goods to give better care. Pet care costs have increased substantially in the previous ten years. Veterinary care is the second-highest source of spending in the pet care community, according to the APPA 2021 report. In 2021, the average range of diagnostic income per clinical visit in the United States was about USD 85 to 90. This is mostly owing to the availability of modern monitoring, diagnostic, and treatments in veterinary offices, which, although beneficial, are expensive. Advanced goods and procedures play an important part in treatments; yet, the materials and equipment utilized in these procedures are quite expensive. For example, diagnostic tests for determining antibiotic sensitivity or the existence of infection utilizing PCR or other modern technologies are more expensive than the actual therapy. As a result, pet owners and veterinarians are reluctant to invest so much in diagnostics. The lack of Veterinary professionals in developing countries is a key challenge for market growth. The global animal healthcare market is experiencing a scarcity of trained veterinarians and pathologists. This is especially true in developing regions such as APAC and Latin America, where there is a significant imbalance between demand and supply for veterinary specialists. According to the World Animal Health Information Database (2017), India had 180,821 veterinary practitioners. The basic rule is that there should be at least one veterinary doctor for every 5,000 animals. According to Vet Extension (2018), India's overall livestock population was 512.05 million, implying a need for 60,000 veterinarians only dedicated to bovine animals. When chickens, sheep, goats, pigs, and other animals are included, the demand would increase. Currently, one of the key challenges restricting veterinarians' adoption of modern diagnostic technologies is a shortage of qualified veterinarians and diagnostic infrastructure, particularly in developing nations.

Veterinary Diagnostics Market Segment Analysis:

By Testing Type, the Pathology Testing Type segment dominated the market in 2022 with a CAGR of xx% and is expected to continue its dominance at the end forecast period because it provides extensive service offerings, including numerous lab testing, imaging, and specialist diagnostics. It includes histopathology and immune histochemistry diagnostics, which are used to detect changes in animal tissues caused by disease or medical conditions. The cells may be extracted from animal biopsy samples, which are processed and given over to pathologists for further assessment using modern technology and specific staining Hematoxylin and Eosin (H&Es). Immunohistochemistry provides markers for neoplastic and infectious illnesses in both small and big animals, such as the distemper virus, adenovirus, and others.Veterinary Diagnostics MarketAdditionally, nanotechnology is the next big thing in veterinary diagnostics since it can test many diseases in a single experiment. These sophisticated technologies have the potential to significantly increase animal illness diagnostic capabilities while also decreasing the time and expense associated with traditional technology. The molecular diagnostics market is also expected to grow at a high rate owing to its rising use for research reasons. Polymerase Chain Reaction (PCR) is frequently utilized in molecular diagnostics in animals for pathogen identification and detection. Real-time PCR is quickly replacing classical PCR procedures. It allows for the speedy and accurate detection of pathogens. By End-Use, the Laboratories segment held the largest market share of about XX% in 2022and is expected to lead the market at the end of the forecast period. Laboratory diagnosis is an essential component of any monitoring or control program. Most nations maintain a national laboratory that tests for Transboundary Animal Diseases (TADs) and offers assistance for national disease eradication and control programs and these factors are driving the segment growth. Many national and state laboratories are creating quality assurance programs to ensure the trustworthiness of testing findings. Veterinary services rely on the diagnostic skills of the laboratory system to respond to TAD introductions and to offer the monitoring programs required to identify disease introductions and verify disease freedom.Veterinary Diagnostics MarketThe veterinary diagnostic laboratories are the foundation of any country's veterinary service. They include national, state, and private veterinary laboratories. These laboratories offer diagnostic testing and consulting for Transboundary animal illnesses, as well as animal surveillance, disease monitoring, import/export testing, consultation and interpretation of diagnostic data, research, and quality assurance operations. In addition to interpreting test findings for clinical cases, laboratory professionals provide experience in the establishment of animal disease management and eradication programs. Participation in quality assurance and proficiency testing is growing, and many nations are working to get laboratory accreditation. Veterinary diagnostic laboratories maintain and develop their competence in animal disease diagnostics, allowing veterinary services to respond to transboundary animal disease invasions as well as endemic disease issues.

Veterinary Diagnostics Market Regional Insights:

The North American market held half of the market share of the Veterinary Diagnostics market and dominate the market in 2022 and is expected to continue its dominance at the end of the forecast period. The region's veterinary healthcare expenditure has increased significantly, which is expected to drive market growth. Likewise, the availability of healthcare programs and an increase in the number of efforts to enhance animal health are factors that are expected to increase the region's growth potential. For example, the North American Pet Health Insurance Association, is working to raise awareness of pet health insurance coverage. The increasing prevalence of chronic illnesses in animals, as well as the rapid adoption of pet animals in North America, are driving the growth of the North American Veterinary diagnostics market. The primary element restraining market growth is rising animal care costs. However, the need for new technologies to better illness detection, as well as an increasing number of product releases, are expected to drive growth in the North American Veterinary diagnostics market during the forecast period. The diagnostics products address the epidemiology and pathophysiology of the domestic animal, preventing additional difficulties connected to the animal's and owner's health. These products are often used on animals such as cats, dogs, and horses. Chronic illnesses affect animals in the same way that they do people. Arthritis and other orthopedic ailments, chronic renal disease, cancer, hepatitis and other liver diseases, skin allergies, diabetes mellitus, inflammatory bowel disease, and thyroid disorders are among the most frequent chronic diseases in dogs. Cancer is common in animals and affects both domestic and wild animals. Animals have been diagnosed with several forms of cancer, with symptoms comparable to people, such as unexplained weight loss, abnormal swelling, and lethargy. According to the Veterinary Cancer Society, cancer is the major cause of death in 47% of dogs, especially those over 10 years old, and 32% of cats. Arthritis affects 20% of all adult canines, according to the Arthritis Foundation. As the frequency of chronic illnesses has increased, so need for animal health, prompting businesses to create improved medications and vaccines to assist animal owners and other stakeholders in maintaining the overall health of animals and hence, driving the growth of the region.Veterinary Diagnostics MarketThe Asia-Pacific market is expected to grow at a CAGR of xx% during the forecast period. Significant growth in the adoption of companion animals and pet ownership as a result of improved urban lifestyles all across the globe is one of the primary reasons driving the market growth. Additionally, increased zoonotic and foodborne illness cases are driving the market growth during the forecast period. As the demand for animal-derived food items grows, so does the need for veterinary diagnostic services to detect zoonotic gastrointestinal disorders, viral infections, TB, and rabies, all of which can be transmitted to people via pets and animals. Other development factors include technological advancements such as the development of enhanced immunoassays, biosensors, non-polymerase chain reaction methods for nucleic acid detection, and proteomics for disease diagnosis. Rapid testing and portable tools are also being used by veterinarians to effectively diagnose illnesses. Other factors, such as significant growth in the poultry and agriculture industries, as well as increased expenditure capacity for animal health management, are expected to increase the market.

Veterinary Diagnostics Market Scope: Inquire before buying

Veterinary Diagnostics Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 2.95 Bn.
Forecast Period 2023 to 2029 CAGR: 9.5% Market Size in 2029: US $ 5.58 Bn.
Segments Covered: by Product • Consumables, Reagents & Kits • Instruments & Devices
by Species • Cattle • Canine • Feline • Caprine • Equine • Ovine • Porcine • Avian • Others
by Testing Type • Analytical Services • Diagnostic Imaging • Bacteriology • Pathology • Molecular Diagnostics • Immunoassays • Parasitology • Serology • Virology
by Disease Type • Infectious Diseases • Non-Infectious Diseases • Hereditary, Congenital, and Acquired Diseases • General Ailments • Structural and Functional Diseases
by End-use • Laboratories • Veterinary Hospitals and Clinics • Point-Of-Care/In-House Testing • Research Institutes and Universities

Veterinary Diagnostics Market, by Region

North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina and Rest of South America)

Key Competitors in the Global Veterinary Diagnostics Market are:

• Thermo Fisher Scientific Inc (US) • Abaxis Inc (US) • IDVet(France) • Bionote, Inc.(US) • Idexx Laboratories Inc(US) • Neogen Corp (US) • Merck(US) • Heska Corporation(US) • BioChek(US) • Precision Biosensor, Inc.(US) • Zoetis (US) • IncIm3 Inc (US) • VCA Antech (US) • Henry Schein Inc. (US) • SKYER, Inc.(US) •Covetrus (US) • Randox Laboratories Ltd.(UK) • Biopanda Reagents (UK) • IM3Vet Pty Ltd.(Australia) • bioMérieux SA (France) • Virbac Corp (France) • Alvedia(France) • Shenzhen Bioeasy Biotechnology Co., Ltd (China) •INDICAL BIOSCIENCE GmbH (Germany) • Fassisi GmbH ( Germany) • QIAGEN N.V.(Germany) • Qiagen N.V(Germany) • Agrolabo SPA,(Italy) FAQs: 1. Which is the potential market for Veterinary Diagnostics in terms of the region? Ans. North America is the potential market for Veterinary Diagnostics in terms of the regions. 2. What are the challenges for new market entrants? Ans. The lack of Veterinary professionals in developing countries is a key challenge for market growth. 3. What is expected to drive the growth of the Veterinary Diagnostics market in the forecast period? Ans. Increased prevalence of Tran-boundary and zoonotic diseases driving the market growth. 4. What is the projected market size & growth rate of the Veterinary Diagnostics Market? Ans. Veterinary Diagnostics Market size was valued at USD 2.95 Bn. in 2022 and the total Veterinary Diagnostics revenue is expected to grow by 9.5% from 2023 to 2029, reaching nearly USD 5.58 Bn. 5. What segments are covered in the Veterinary Diagnostics Market report? Ans. The segments covered are Product, Species, Testing Type, Disease Type, End-use, and, Region.
1. Global Veterinary Diagnostics Market: Research Methodology 2. Global Veterinary Diagnostics Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Veterinary Diagnostics Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Veterinary Diagnostics Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Veterinary Diagnostics Market Segmentation 4.1 Global Veterinary Diagnostics Market, by Product (2022-2029) • Consumables, Reagents & Kits • Instruments & Devices 4.2 Global Veterinary Diagnostics Market, by Species (2022-2029) • Cattle • Canine • Feline • Caprine • Equine • Ovine • Porcine • Avian • Others 4.3 Global Veterinary Diagnostics Market, by Testing Type (2022-2029) • Analytical Services • Diagnostic Imaging • Bacteriology • Pathology • Molecular Diagnostics • Immunoassays • Parasitology • Serology • Virology 4.4 Global Veterinary Diagnostics Market, by Disease Type (2022-2029) • Infectious Diseases • Non-Infectious Diseases • Hereditary, Congenital, and Acquired Diseases • General Ailments • Structural and Functional Diseases 4.5 Global Veterinary Diagnostics Market, by End-use (2022-2029) • Laboratories • Veterinary Hospitals and Clinics • Point-Of-Care/In-House Testing • Research Institutes and Universities 5. North America Veterinary Diagnostics Market(2022-2029) 5.1 North America Veterinary Diagnostics Market, by Product (2022-2029) • Consumables, Reagents & Kits • Instruments & Devices 5.2 North America Veterinary Diagnostics Market, by Species (2022-2029) • Cattle • Canine • Feline • Caprine • Equine • Ovine • Porcine • Avian • Others 5.3 North America Veterinary Diagnostics Market, by Testing Type (2022-2029) • Analytical Services • Diagnostic Imaging • Bacteriology • Pathology • Molecular Diagnostics • Immunoassays • Parasitology • Serology • Virology 5.4 North America Veterinary Diagnostics Market, by Disease Type (2022-2029) • Infectious Diseases • Non-Infectious Diseases • Hereditary, Congenital, and Acquired Diseases • General Ailments • Structural and Functional Diseases 5.5 North America Veterinary Diagnostics Market, by End-use (2022-2029) • Laboratories • Veterinary Hospitals and Clinics • Point-Of-Care/In-House Testing 5.6 North America Veterinary Diagnostics Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Veterinary Diagnostics Market (2022-2029) 6.1. European Veterinary Diagnostics Market, by Product (2022-2029) 6.2. European Veterinary Diagnostics Market, by Species (2022-2029) 6.3. European Veterinary Diagnostics Market, by Testing Type (2022-2029) 6.4. European Veterinary Diagnostics Market, by Disease Type (2022-2029) 6.5. European Veterinary Diagnostics Market, by End-use (2022-2029) 6.6. European Veterinary Diagnostics Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Veterinary Diagnostics Market (2022-2029) 7.1. Asia Pacific Veterinary Diagnostics Market, by Product (2022-2029) 7.2. Asia Pacific Veterinary Diagnostics Market, by Species (2022-2029) 7.3. Asia Pacific Veterinary Diagnostics Market, by Testing Type (2022-2029) 7.4. Asia Pacific Veterinary Diagnostics Market, by Disease Type (2022-2029) 7.5. Asia Pacific Veterinary Diagnostics Market, by End-use (2022-2029) 7.6. Asia Pacific Veterinary Diagnostics Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Veterinary Diagnostics Market (2022-2029) 8.1 Middle East and Africa Veterinary Diagnostics Market, by Product (2022-2029) 8.2. Middle East and Africa Veterinary Diagnostics Market, by Species (2022-2029) 8.3. Middle East and Africa Veterinary Diagnostics Market, by Testing Type (2022-2029) 8.4. Middle East and Africa Veterinary Diagnostics Market, by Disease Type (2022-2029) 8.5. Middle East and Africa Veterinary Diagnostics Market, by End-use (2022-2029) 8.6. Middle East and Africa Veterinary Diagnostics Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Veterinary Diagnostics Market (2022-2029) 9.1. South America Veterinary Diagnostics Market, by Product (2022-2029) 9.2. South America Veterinary Diagnostics Market, by Species (2022-2029) 9.3. South America Veterinary Diagnostics Market, by Testing Type (2022-2029) 9.4. South America Veterinary Diagnostics Market, by Disease Type (2022-2029) 9.5. South America Veterinary Diagnostics Market, by End-use (2022-2029) 9.6. South America Veterinary Diagnostics Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Thermo Fisher Scientific Inc. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Abaxis Inc 10.3 IDVet 10.4 Agrolabo SPA, 10.5 Idexx Laboratories Inc 10.6 Neogen Corp 10.7 Merck 10.8 Heska Corporation 10.9 Qiagen N.V 10.10 Virbac Corp 10.11 Zoetis 10.12 IncIm3 Inc 10.13 VCA Antech 10.14 Henry Schein Inc. 10.15 QIAGEN N.V. 10.16 bioMérieux SA 10.17 Randox Laboratories Ltd. 10.18 Covetrus 10.19 IM3Vet Pty Ltd. 10.20 INDICAL BIOSCIENCE GmbH 10.21 Biopanda Reagents 10.22 Fassisi GmbH 10.23 Shenzhen Bioeasy Biotechnology Co., Ltd 10.24 Precision Biosensor, Inc. 10.25 Alvedia 10.26 SKYER, Inc. 10.27 BioChek 10.28 Bionote, Inc.
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