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Veterinary Diagnostics Market

Veterinary Diagnostics Market

Veterinary Diagnostics Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

144

Base Year:

2022

Date

May - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1529

Segments Covered
  • By Product Type By Product Type Instruments, Consumables
  • By Animal Type By Animal Type Companion Animals, Livestock
  • By Technology By Technology Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Hematology, Urinalysis, Other Veterinary Diagnostic Technologies
  • By Region By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Base YearBase Year: 2022
Forecast YearsForecast Years: 2023 - 2030
Historical YearsHistorical Years: 2017 - 2021
Revenue 2022Revenue 2022: USD 2375.10 Million
Revenue 2030Revenue 2030: USD 4663.51 Million
Revenue CAGRRevenue CAGR (2023 - 2030): 8.80%
Fastest Growing Region Fastest Growing Region (2023 - 2030) Asia Pacific
Largest Region Largest Region (2022): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Veterinary Diagnostics Market Share

Market Synopsis:

Global Veterinary Diagnostics Market valued at USD 2375.10 Million in 2022 and is projected to reach a value of USD 4663.51 Million by 2030 at a CAGR of 8.80% over the forecast period.

The Veterinary Diagnostics Market is witnessing considerable growth during the forecast period. The growth of the Veterinary Diagnostics Market is mainly attributed to the rising companion animal population, increase in demand for animal-derived food products, increasing occurrences of zoonotic and transboundary diseases, increasing animal health expenditure, growth in the demand for pet insurance, and growth in the number of veterinary doctors and the income in the developed economies. Moreover, the shifting of consumers toward advanced test techniques like hematology, nanotechnology, immune and molecular diagnostics which are efficient and quick in generating results and are further fueling the growth of the market during the forecast period. Additionally, the advancements in diagnostics together with the rising adoption of innovative and latest techniques in most laboratories are expected to boost the Veterinary Diagnostics Market growth in the coming years. Furthermore, the continuous growth in the population of pets and the rising penetration of Veterinary Diagnostics products at the veterinary hospitals are contributing to the Veterinary Diagnostics Market growth during the forecast period. Additionally, the increasing demand for point-of-care diagnostics is predicted to propel the growth of the market as it offers fast results in the clinical tests and can be directly evaluated to save time which is expected to increase the demand for Veterinary Diagnostics in the coming future. Besides, the lack of skilled veterinarians and the diagnostics infrastructure particularly in the emerging countries, and the high cost of advanced diagnostics tests are the major factor limiting the growth of the Veterinary Diagnostics market during the forecast period.

Veterinary Diagnostics Market Size, 2022 To 2030 (USD Million)

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Market Segmentation:

The Veterinary Diagnostics market is segmented on the basis of product type, animal type, and technology. On the basis of product type, the market is segmented as Instruments and Consumables. Based on animal type, the market is segmented as Companion Animals and Livestock. Based on technology, the market is segmented into Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Hematology, Urinalysis, and other Veterinary Diagnostic Technologies.

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Consumables Segment is Anticipated to Expand at the Highest CAGR During Forecast Period

Based on product type, the consumables segment is expected to grow at the highest CAGR during the forecast period. The growth of the consumables segment is mainly attributed to the increasing expectations for rapid and accurate results together with the introduction of advanced kits and reagents. Moreover, the consumables and reagents are varied compatible to use with the various Veterinary Diagnostics equipment’s which is expected to drive the growth of this segment in the upcoming years.

Companion Animal Segment Acquires the Largest Market Share

Based on animal type, the companion animal segment is predicted to acquire the largest share of the Veterinary Diagnostics market during the forecast period. The growth of the companion segment growth is attributed to the increasing number of companion animals in the developed regions like Europe and North America, and the huge expenditure on the companion animals in these regions.

North America Leads the Global Veterinary Diagnostics Market

North America region accounts for the largest market share. The growth of the Veterinary Diagnostics Market in North America is attributed to the rising population of companion and the food-producing animals, the availability of technologically advanced veterinary reference laboratories, increase in the consumption of meat and dairy products, growth in the pet insurance coverage, and the increasing expenditure of the veterinary healthcare.

Asia Pacific is Projected to be the Fastest-Growing Region Over Forecast Period

The Asia Pacific is expected to dominate the Veterinary Diagnostics Market during the forecast period. The growth of the Asia Pacific region is attributed to growth in the adoption of pets, increasing awareness associated with animal health, and an increase in the per capita income expenditure on animal health.

Competitive Landscape:

The Veterinary Diagnostics market is fragmented in nature due to the presence of key market players. Some of the key players in the market are Thermo Fisher Scientific Inc. (US), Zoetis Inc. (US), IDEXX Laboratories Inc. (US), NEOGEN Corporation (US), Bio-Rad Laboratories Inc. (US), bioMérieux SA (France), Virbac (France), Heska Corporation (US), Bio-Rad Laboratories Inc. (US), bioMérieux SA (France), Virbac (France), Heska Corporation (US), Agrolabo S.p.A. (Italy), INDICAL BIOSCIENCE GmbH (Germany), Randox Laboratories Ltd. (Ireland), IDvet (France), Biopanda Reagents (UK), Bionote Inc. (South Korea), BioChek (Netherlands), Fassisi GmbH (Germany), Biogal Galed Labs (Israel), Alvedia (France), SKYER Inc. (South Korea), Shenzhen Bioeasy Biotechnology Co., Ltd. (China), and Precision Biosensor Inc. (South Korea)..

Segmentation of Veterinary Diagnostics Market:

Parameter Details
Segments Covered

By Product Type

  • Instruments
  • Consumables

By Animal Type

  • Companion Animals
  • Livestock

By Technology

  • Immunodiagnostics
  • Clinical Biochemistry
  • Molecular Diagnostics
  • Hematology
  • Urinalysis
  • Other Veterinary Diagnostic Technologies

By Region

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

Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Thermo Fisher Scientific Inc. (US)
  • Zoetis Inc. (US)
  • IDEXX Laboratories Inc. (US)
  • NEOGEN Corporation (US)
  • Bio-Rad Laboratories Inc. (US)
  • bioMérieux SA (France)
  • Virbac (France)
  • Heska Corporation (US)
  • Bio-Rad Laboratories Inc. (US)
  • bioMérieux SA (France)
  • Virbac (France)
  • Heska Corporation (US)
  • Agrolabo S.p.A. (Italy)
  • INDICAL BIOSCIENCE GmbH (Germany)
  • Randox Laboratories Ltd. (Ireland)
  • IDvet (France)
  • Biopanda Reagents (UK)
  • Bionote Inc. (South Korea)
  • BioChek (Netherlands)
  • Fassisi GmbH (Germany)
  • Biogal Galed Labs (Israel)
  • Alvedia (France)
  • SKYER Inc. (South Korea)
  • Shenzhen Bioeasy Biotechnology Co. Ltd. (China)
  • and Precision Biosensor Inc. (South Korea).
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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FAQ
Frequently Asked Question
  • The global Veterinary Diagnostics valued at USD 2375.10 Million in 2022 and is expected to reach USD 4663.51 Million in 2030 growing at a CAGR of 8.80%.

  • The prominent players in the market are Thermo Fisher Scientific Inc. (US), Zoetis Inc. (US), IDEXX Laboratories Inc. (US), NEOGEN Corporation (US), Bio-Rad Laboratories Inc. (US), bioMérieux SA (France), Virbac (France), Heska Corporation (US), Bio-Rad Laboratories Inc. (US), bioMérieux SA (France), Virbac (France), Heska Corporation (US), Agrolabo S.p.A. (Italy), INDICAL BIOSCIENCE GmbH (Germany), Randox Laboratories Ltd. (Ireland), IDvet (France), Biopanda Reagents (UK), Bionote Inc. (South Korea), BioChek (Netherlands), Fassisi GmbH (Germany), Biogal Galed Labs (Israel), Alvedia (France), SKYER Inc. (South Korea), Shenzhen Bioeasy Biotechnology Co., Ltd. (China), and Precision Biosensor Inc. (South Korea)..

  • The market is project to grow at a CAGR of 8.80% between 2023 and 2030.

  • The driving factors of the Veterinary Diagnostics include

    • Growth in the companion animal population

  • North America was the leading regional segment of the Veterinary Diagnostics in 2022.