Animal Diagnostics Market - By Technology (Immunodiagnostics {ELISA, Immunoassay Analyzers}, Clinical Biochemistry {Glucose Monitoring}, Hematology, Urinalysis), By Application (Parasitology, Pathology), By End-use (Clinics, Hospitals) - Global Forecast t

Animal Diagnostics Market - By Technology (Immunodiagnostics {ELISA, Immunoassay Analyzers}, Clinical Biochemistry {Glucose Monitoring}, Hematology, Urinalysis), By Application (Parasitology, Pathology), By End-use (Clinics, Hospitals) - Global Forecast to 2032

Animal Diagnostics Market is slated to record substantial growth during 2032 owing to the favorable government initiatives to reduce the prevalence of food-borne zoonotic diseases and promote pet adoption. The availability of specialty pet services, advanced animal surgical procedures, and rising benefits provided by pet insurance companies will positively influence the overall market expansion.

The animal diagnostics industry is segmented in terms of technology, animal, products, applications, end-use, and region.

Based on technology, the molecular diagnostics technology segment is expected to gain substantial prominence during the estimated timeframe. The surging demand for affordable and precise veterinary molecular diagnostics and the development of novel technologies such as microarrays, polymerase chain reaction (PCR), and biomarkers, among others, will promote the segmental growth.

By animal, the companion animals segment is poised to be valued at over USD 14 billion by 2032. Increasing pet adoption, mounting demand for premium pet products, and constantly surging expenditure on veterinary care will fuel the segment expansion. Besides, the easy availability of advanced veterinary products for pets, mobile veterinary services, and pet insurance will also positively escalate the market demand in the future.

Considering the product, the consumables segment is expected to hold a positive market share during 2023-2032. The rising preference for animal diagnostic reagents and test kits used to diagnose a range of animal health issues by screening for antigens, pathogens, co-infections, and a host of other physical diseases will complement the market demand.

Based on application, the parasitology segment is expected to be valued at over USD 7.5 billion by 2032. The advantages of using animal diagnostics for detecting various animal parasites, as they are responsible for zoonoses that cause concern for human health, will drive the market outlook in the coming years.

By end-use, the veterinary hospital segment is estimated to grow considerably during 2023–2032. Rising health expenditure and easy access to veterinary facilities are key factors slated to support market growth in the coming years. Besides, the rising awareness around animal health coupled with the increasing adoption of pets will also increase the demand for veterinary hospitals.

Regionally, the Europe animal diagnostics market will garner profitable returns during the estimated timeframe. Increasing pet ownership and high awareness regarding veterinary care and animal diagnostics will spur the product demand in the region.