Veterinary Diagnostics - Global Strategic Business Report

The global market for Veterinary Diagnostics was valued at USD 3.1 Billion in 2024 and is projected to reach USD 4.6 Billion by 2030, growing at a CAGR of 7% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Veterinary Diagnostics Market - Key Trends & Drivers Summarized

What Are Veterinary Diagnostics and Why Are They Critical in Animal Healthcare?

Veterinary Diagnostics refers to the range of tests and procedures used to diagnose diseases and monitor the health of animals. These diagnostics are essential for identifying a wide variety of conditions, from infectious diseases to metabolic disorders, enabling veterinarians to provide timely and effective treatment. Veterinary diagnostics play a critical role not only in clinical settings but also in research, where they support the study of animal health and disease. The field encompasses various types of diagnostics, including molecular diagnostics, immunoassays, clinical chemistry, and hematology, each offering unique insights into an animal's health status. With the increasing emphasis on preventive healthcare and early diagnosis in veterinary medicine, the demand for advanced diagnostic tools is on the rise.

How Has the Veterinary Diagnostics Industry Evolved?

The veterinary diagnostics industry has evolved significantly, driven by technological advancements and the growing demand for precise and reliable diagnostic tools. Initially, veterinary diagnostics were limited to basic tests that provided only a general overview of an animal's health. However, the introduction of advanced technologies, such as PCR (polymerase chain reaction), ELISA (enzyme-linked immunosorbent assay), and next-generation sequencing, has revolutionized the field, enabling more specific and sensitive detection of pathogens, genetic disorders, and other health conditions. The development of point-of-care diagnostics has also made it easier for veterinarians to conduct tests in various settings, providing immediate results that can inform treatment decisions. Furthermore, the integration of diagnostics with digital platforms and data management systems has enhanced the ability to track and analyze health trends, supporting more personalized and data-driven veterinary care.

Why Is There a Growing Demand for Veterinary Diagnostics Worldwide?

The demand for Veterinary Diagnostics is growing worldwide due to several factors, including the increasing prevalence of animal diseases and the rising awareness of the importance of early and accurate diagnosis in veterinary care. The surge in pet ownership, particularly in developed countries, has led to greater investment in animal health, with pet owners seeking advanced diagnostics to ensure the well-being of their animals. Additionally, the expansion of the livestock industry, driven by the growing demand for animal products, has heightened the focus on animal health management, leading to increased adoption of veterinary diagnostics. The rise in zoonotic diseases, which can be transmitted from animals to humans, has also underscored the need for robust diagnostic capabilities to monitor and control outbreaks. Moreover, the trend towards preventive veterinary care, which emphasizes early detection and intervention, is driving the demand for comprehensive diagnostic solutions.

What Factors Are Driving the Growth in the Veterinary Diagnostics Market?

The growth in the Veterinary Diagnostics market is driven by several factors, including the increasing incidence of animal diseases and the growing demand for advanced diagnostic tools in veterinary practice. The rising pet population, coupled with an increased focus on pet health and preventive care, has led to greater demand for veterinary diagnostics, boosting the market. Additionally, the expansion of the livestock industry, where animal health directly impacts productivity and profitability, is driving the need for reliable diagnostic tools that can support effective disease management. Technological advancements in diagnostics, such as the development of portable and point-of-care devices, are making these tools more accessible to veterinarians, further fueling market growth. Furthermore, the integration of diagnostics with digital health records and other healthcare IT systems is enhancing the efficiency and accuracy of veterinary care, contributing to the overall growth of the market. Lastly, the growing emphasis on research and development in veterinary medicine, aimed at improving animal health outcomes, is expected to drive continued innovation and demand for veterinary diagnostics.

Report Scope

The report analyzes the Veterinary Diagnostics market, presented in terms of market value (USD Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments

Product (Consumables, Instruments); Technology (Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Hematology, Other Technologies); Type (Companion Animals, Livestock).

Geographic Regions/Countries

World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Veterinary Diagnostic Consumables segment, which is expected to reach $2.6 Billion by 2030 with a CAGR of a 8.1%. The Veterinary Diagnostic Instruments segment is also set to grow at 5.7% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $800.6 Million in 2024, and China, forecasted to grow at an impressive 11.6% CAGR to reach $1.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in USD from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as Abaxis, Inc., Heska Corporation, Idexx Laboratories, Inc., Idvet, Neogen Corporation and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Veterinary Diagnostics Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Veterinary Diagnostics Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Veterinary Diagnostics Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Some of the 24 major companies featured in this Veterinary Diagnostics market report include:

• Abaxis, Inc.
• Heska Corporation
• Idexx Laboratories, Inc.
• Idvet
• Neogen Corporation
• Qiagen NV
• Thermo Fisher Scientific, Inc.
• Virbac Group
• Zoetis, Inc.