Veterinary Diagnostics Market 2022 – Segments Analysis,
Industry Trends, Manufacturers Analysis, Opportunities and Market Size &
Forecast 2030
Page: 215 | Report Code: LS22040202 | Research Suite: Report (PDF) & Market Data (Excel)
Request Sample Pages
to Get Table of Content
The global veterinary diagnostics market is expected to witness growth at a CAGR of 10.0% from 2022 to 2030. According to the World Organization for Animal Health, as of 2020, there exist around 117 animal infections, diseases, and infestations. Veterinary diagnostics refers to medical diagnostic testing of diseases in animals caused due to a variety of microorganisms, including viruses, bacteria, pathogens, and fungi, among others, using various tests and tools. The tests are conducted by analyzing the samples of tissues, blood and feces of companion and livestock animals.
GROWTH DRIVERS
Furthermore, other factors such as the increasing
technological advancements in veterinary diagnostics instruments and procedures;
the surging disposable income levels of people across the emerging regions; the
rising demand for pet insurance; the increasing number of in-clinic diagnostic
procedures; the massive shift towards advanced test techniques which are quick
and efficient in producing results and the increasing focus of market players
on the development of innovative and cost-effective animal diagnostic services
are anticipated to further augment the growth of the global veterinary
diagnostics market during the forecast period.
However, the high cost associated with advanced
diagnostic tests for animals coupled with the increasing pet-care costs and the
dearth of skilled veterinarians & diagnostic infrastructures in developing
countries are factors expected to hinder the growth of the veterinary
diagnostics market to a certain extent during the forecast period.
VETERINARY DIAGNOSTICS MARKET SEGMENTATION
By Product Type
·
Instruments
· Consumables
By Animal Type
·
Companion Animals
o
Cats
o
Dogs
o
Horses
o
Other Companion Animals
·
Livestock
o
Cattle
o
Pigs
o
Poultry
o
Other Livestock
By Technology
·
Immunodiagnostics
o
Lateral Flow Assays
o
ELISA Tests
o
Allergen-specific
Immunodiagnostic Tests
o
Immunoassay Analyzers
o
Other Immunodiagnostic Products
·
Clinical Biochemistry
o
Clinical Chemistry Analysis
o
Glucose Monitoring
o
Blood Gas & Electrolyte
Analysis
·
Molecular Diagnostics
o
Polymerase Chain Reaction (PCR)
Tests
o
Microarrays
o
Other Molecular Diagnostic
Products
·
Hematology
o
Hematology Cartridges
o
Hematology Analyzers
·
Urinalysis
o
Urinalysis Clips &
Cartridges/Panels
o
Urine Analyzers
o
Urine Test Strips
· Other Veterinary Diagnostic Technologies
By Region
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
Based on animal
type, the companion animals segment led the global veterinary diagnostics market
by capturing over 62.0% market share in 2021. The segment is expected to retain
its lead in the market over the forecast period of 2022-2030. Factors such as
the increasing population of pets and their usage for companionships, the
escalating surging demand for pet care products, the rising animal healthcare
spending and the surging prevalence of diabetes, obesity, cancer, and other
major diseases among animals can be majorly attributed to the segment’s growth.
Based on technology, the molecular diagnostics segment captured
the largest share of the global veterinary diagnostics in 2021. The segment is
expected to further continue with the trend and experience robust growth in the
forthcoming years. The soaring application of molecular diagnostics in research
purpose and for the detection of veterinary pathogens and the modifications in
various molecular diagnostic tests, including PCR, are the predominant factors
fueling the segment's growth.
REGIONAL OUTLOOK
The European
region accounted for the second-largest share in the global veterinary
diagnostics market in 2021. The region is predicted to further witness
substantial growth in the market during the forecast period. Factors attributed
to the growth in the region include the increasing number of pets, the presence
of favorable government initiatives, the burgeoning incidence of several
zoonotic diseases, and the growing number of animal welfare initiatives in the
region. The major contributor to the growth of the market in the region is
Germany.
The Asia
Pacific region is projected to emerge as the fastest-growing regional market
for Veterinary Diagnostics over the forecast period of 2022-2030. The growth of
the market in Asia Pacific can be attributed to factors such as the rapidly
expanding veterinary diagnostics infrastructure, the increasing demand for
animal proteins, the growing middle-class households and disposable incomes,
and the rising awareness on animal healthcare in emerging nations such as India
and China. Moreover, the increasing acceptance of pet animals is also a major
factor significantly contributing to the growth of the market in the region.
The major contributors to the growth of the market in the region include India
and China.
KEY COMPANIES IN VETERINARY DIAGNOSTICS MARKET
·
Thermo Fisher Scientific Inc.
·
Zoetis Inc.
·
IDEXX Laboratories Inc.
·
NEOGEN Corporation
·
Bio-Rad Laboratories Inc.
·
bioMérieux SA
·
Virbac
·
Heska Corporation
·
Agrolabo S.p.A.
·
INDICAL BIOSCIENCE GmbH
·
Randox Laboratories Ltd.
·
IDvet
·
Biopanda Reagents
·
Precision Biosensor Inc.
·
Covetrus
·
iM3Vet Pty Ltd.
·
Intervet Inc.
·
QIAGEN
·
Other Players