Share
Veterinary Diagnostics Market: By Product Type (Instruments, Reagents & Consumables), By Technology (Hematology, Immunohistochemistry, Molecular Diagnostics, Diagnostic Imaging, Clinical Biochemistry, Others), By Animal Type (Livestock, Companion), By End User (Hospitals & Clinics, Reference Laboratories, Others), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
‘Veterinary Diagnostics’ refers to numerous tests performed to identify the existence of diseases in animals. They are carried out by examining tissue, blood samples, and excrement from farm, domestic and wild animals. This diagnosis employs a wide range of veterinary instruments to identify diseases, device an animal's reaction to a treatment, track the disease progression, and check for hidden illnesses the healthy animals. They help to identify the disease status in an animal with a clinical illness. These tests are based on a variety of methods, like gene sequencing, immunohistochemistry, in situ hybridization, (RT-PCR) real-time polymerase chain reaction, and (PCR) polymerase chain reaction. Pathology, toxicology, bacteriology, virology, and nutrition testing facilities frequently perform these tests.
Veterinary Diagnostics Market to surpass USD 15.0 billion by 2032 from USD 5.04 billion in 2021 at a CAGR of 10.4% in the coming years, i.e., 2022-32. The rising prevalence of zoonotic diseases, the increasing number of veterinarians in developing regions, and the increasing cost of veterinary care are majorly driving the Veterinary Diagnostics Market. Also, the rising demand for pet insurance and growing disposable income in developed countries, are contributing to the growth of the market.
Veterinary Diagnostics Market is categorized on the basis of Product Type into Instruments and Reagents & Consumables. The Reagents & Consumables sector accounted for the higher market share, and it is anticipated to grow at a higher CAGR during the forecast period. The development of sophisticated reagents & kits and the rising expectation for quick & precise results are projected to fuel the reagents & consumables segment growth. These cutting-edge reagents and kits can be used with a variety of veterinary diagnostic tools, which will increase their market share in the future.
Veterinary Diagnostics Market is categorized on the basis of End User into Hospitals & Clinics, Reference Laboratories, and Others. In the Veterinary Diagnostics Market, the veterinary reference laboratories segment has dominated and is predicted to continue its dominance during the forecast period as well. This growth is attributed to the improved facilities and cutting-edge technology found in veterinary laboratories, the rise in the number of products being introduced for use in veterinary reference laboratories, and increasing the number of trained specialists in the field of veterinary diagnostics.
Get More Information - Download Free Sample
The rising frequency and growing prevalence of animal diseases are predicted to increase, increasing the need for cutting-edge diagnostic tools to identify, track, and contain disease outbreaks. The global Veterinary Diagnostics Market will be driven by the availability of sophisticated diagnostic technologies that assist veterinarians in providing better diagnoses and treatments. Moreover, ongoing research, innovation, and education initiatives will help market participants establish sustainable competitive advantages, bolstering their positions in the Veterinary Diagnostics Market.
Modern veterinary hospitals and healthcare facilities must be built by governments in many areas. As a result, the global Veterinary Diagnostics Market would grow significantly during the next several years. Governments have created new veterinary care, treatment, and diagnostic facilities due to pressure from animal rights advocates. This is a significant driver of the global Veterinary Diagnostics Market.
The rising pet care costs and the high cost of animal diagnostics are expected to limit the market growth. Moreover, another challenge for the market is the expected shortage of veterinarians in a few regions throughout the projection period. Systems for veterinary diagnostic imaging are expensive tools or devices. Small portable machines usually cost between US$2,000 and US$50,000, with backup transducer probes costing up to US$1,000 and printers costing up to US$2,000. Small to medium-sized veterinary operations are the standard, and financial restrictions are comparatively high. Therefore, high cost of these tests and systems is one of the main market restraints.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Veterinary Diagnostics Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. In terms of revenue share, North America led the market in 2021. The cost of veterinary treatment has significantly increased in the area, which is predicted to spur the market growth. Moreover, the presence of healthcare programs and the development in the number of efforts to enhance animal health are expected to boost the region's growth potential.
During the projection period, the Asia Pacific regional market is expected to develop at the faster rate. Increasing numbers of middle-class families, more disposable money, adoption of pets, and a strong need for animal proteins are a few major drivers anticipated to propel regional market growth.
Get More Information - Download Free Sample
The global COVID-19 pandemic has had an effect on every industry. According to the (OIE) Office International des Epizooties, currently known as The World Organization for Animal Health, no animal can transfer this virus. However, a few nations have recorded cases of human-to-animal transfer. This decreased the veterinary visits during the COVID-19 pandemic, which therefore restricted the operation of veterinary clinics due to strict lockdown regulations had an effect on the Veterinary Diagnostics Market.
|
REPORT ATTRIBUTE |
DETAILS |
|
Market Size Value in 2021 |
USD 5.04 billion |
|
Revenue Forecast in 2032 |
USD 15.0 billion |
|
Growth Rate |
CAGR of 10.4% from 2022 to 2032 |
|
Base Year for Estimation |
2021 |
|
Quantitative Units |
Revenue in USD billion and CAGR from 2022 to 2032 |
|
Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments Covered |
Product Type, Technology, Animal Type, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
|
Key Companies Profiled |
Thermo Fisher Scientific Inc., VCA Antech Inc., bioMérieux S.A., Zoetis, IDEXX Laboratories Inc., Bio-Rad Laboratories Inc., Covetrus, Virbac, Neogen Corporation, Heska Corp., GD Animal Health, INDICAL BIOSCIENCE GmbH, Agrolabo SpA, Agrolabo S.p.A., IDvet, and Other Prominent Players. |
The Veterinary Diagnostics Market size was estimated at USD 5.04 billion in 2021 and is expected to reach USD 15.0 billion in 2032.
Veterinary Diagnostics’ refers to numerous tests performed to identify the existence of diseases in animals. They are carried out by examining tissue, blood samples, and excrement from farm, domestic and wild animals.
The Reagents & Consumables and Reference Laboratories segments accounted for the larger share of the Veterinary Diagnostics Market.
Key players in the Veterinary Diagnostics Market are Thermo Fisher Scientific Inc., VCA Antech Inc., bioMérieux S.A., Zoetis, IDEXX Laboratories Inc., Bio-Rad Laboratories Inc., Covetrus, Virbac, Neogen Corporation, Heska Corp., GD Animal Health, INDICAL BIOSCIENCE GmbH, Agrolabo SpA, Agrolabo S.p.A., IDvet, and Other Prominent Players.
The rising prevalence of zoonotic diseases, the increasing number of veterinarians in developing regions, and the increasing cost of veterinary care are majorly driving the Veterinary Diagnostics Market.
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
