Global Veterinary Diagnostics Market Report and Forecast 2024-2032 (Repeated)

Global Veterinary Diagnostics Market Report and Forecast 2024-2032

Market Outlook

According to the report the global veterinary diagnostics market grew substantially in 2023. Aided by the growing prevalence of animal zoonotic diseases and the growth in animal population, the market is projected to further grow at a CAGR of 8.7% between 2024 and 2032 to reach a value of about USD 7.21billion by 2032.

Veterinary diagnostics refers to tests that help identify and determine the causes of various diseases in animals. These diagnostic tests support veterinarians' decision-making regarding recommended treatment modalities and are crucial for preventative healthcare. Additionally, they are crucial in maintaining animal health, ensuring the safety of food, and preventing the spread of zoonotic diseases.

One of the key veterinary diagnostics market trends include the growing emphasis on the health and welfare of pets. There has been a considerable shift towards early disease diagnosis and preventative healthcare due to the increase in pet ownership and the increased awareness of pet health, which has caused a spike in demand for effective veterinary diagnostic tools. Additionally, the growing trend of "pet humanisation," in which animals are treated with the same respect and consideration as human family members has increased interest in veterinary diagnostics.

The expanding applications of veterinary diagnostics in various sectors significantly contribute to veterinary diagnostics market growth. These diagnostics are employed in the livestock industry to guarantee the health and productivity of the animals, which has a direct impact on the quality and safety of food products obtained from animals. While laboratories and academic institutions employ these diagnostics in a variety of animal research and studies, the wildlife sector uses them for wildlife conservation and disease surveillance.

Additionally, there have been significant advancements in veterinary diagnostic technologies as a result of the increasing emphasis on rapid and accurate diagnostic solutions in animal health. The field of veterinary diagnostics is undergoing a revolution as a result of the development of portable and user-friendly diagnostic tools, as well as developments in molecular diagnostics, immunodiagnostics, and biochips. In addition, the use of artificial intelligence (AI) and machine learning (MI) in diagnostics is poised to offer a new route to the veterinary diagnostics market expansion due to continuous research and development efforts.

Market Segmentation

The market can be divided based on technology, product, animal type, and region.

Market Breakup by Technology

• Immunodiagnostics
• Clinical Biochemistry
• Molecular Diagnostics
• Haematology
• Urinalysis
• Others

Market Breakup by Product

• Instruments
• Consumables

Market Breakup by Animal Type

• Companion Animals
• Dogs
• Cats
• Horses
• Others
• Livestock Animals
• Cattle
• Pigs
• Poultry
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global veterinary diagnostics market. Some of the major players explored in the report are as follows:

• Randox Laboratories, Ltd.
• Idvet
• Biomérieux SA
• Virbac
• Heska Corporation
• Neogen Corporation
• Thermo Fisher Scientific
• Qiagen
• Zoetis, Inc.
• Abaxis, Inc.
• Idexx Laboratories
• Others

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