Veterinary Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
The global veterinary diagnostics market size reached US$ 5.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.1 Billion by 2027, exhibiting a growth rate (CAGR) of 8.83% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Veterinary diagnostics refer to various tests conducted to detect the presence of disorders among animals. They are conducted by analyzing the samples of blood, feces and tissues of livestock, wild and pet animals. These tests are based on various technologies, such as polymerase chain reaction (PCR), real-time polymerase chain reaction (RT-PCR), in situ hybridization (ISH), immunohistochemistry (IHC) and gene sequencing. The primary test categories include screening tests that are used for the detection of a disease in healthy animals, and confirmatory tests that are conducted to classify disease status in a clinically diseased animal. As a result, they are commonly used in pathology, bacteriology, toxicology, nutrition and virology testing centers.
A significant increase in the adoption of companion animals and pet ownership resulting from improving urban lifestyle across the globe represents one of the key factors driving the growth of the market. Furthermore, rising instances of zoonotic and foodborne diseases are also driving the market growth. As the demand for animal-derived food products is growing, there is an increasing requirement for veterinary diagnostic services to detect zoonotic gastrointestinal diseases, viral infections, tuberculosis and rabies, which can be contracted by humans through pets and livestock. Additionally, various technological advancements, such as the development of improved immunoassays, biosensors, non-polymerase chain reaction techniques for nucleic acid detection and proteomics for disease diagnosis, are acting as other growth-inducing factors. Veterinarians are also using rapid tests and portable instruments for the effective diagnosis of diseases. Other factors, including significant growth in the poultry and agriculture industries, along with increasing expenditure capacities for the management of animal health, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global veterinary diagnostics market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, technology, animal type, disease type and end user.
Breakup by Product:
Kits and Reagents
Software and Services
Breakup by Technology:
Breakup by Animal Type:
Breakup by Disease Type:
Hereditary, Congenital and Acquired Diseases
Structural and Functional Diseases
Breakup by End User:
Veterinary Hospitals and Clinics
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being BioChek B.V., Biomérieux SA, Heska Corporation, IDEXX Laboratories Inc., IDvet, Neogen Corporation, Randox Laboratories Ltd., Thermo Fisher Scientific Inc., Virbac and Zoetis Inc.
Key Questions Answered in This Report:
How has the global veterinary diagnostics market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global veterinary diagnostics market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the animal type?
What is the breakup of the market based on the disease type?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global veterinary diagnostics market and who are the key players?
What is the degree of competition in the industry?
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