Animal Diagnostics Market Size, Share, Growth Analysis, By Product Type(Consumables and Instruments), By Technology(Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, and Hematology), By Animal Type(Companion Animals and Livestock), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35J2026 | Region: Global | Published Date: February, 2024
Pages: 272 |Tables: 87 |Figures: 76

Animal Diagnostics Market Insights

Animal Diagnostics Market size was valued at USD 7.3 billion in 2022 and is poised to grow from USD 8.15 billion in 2023 to USD 19.60 billion by 2031, growing at a CAGR of 11.6% in the forecast period (2024-2031).

Animal diagnostics involves identifying and measuring chemicals in non-human animal source materials. These diagnostic tests are essential for veterinarians to diagnose and treat animal diseases accurately. Animal diagnostics is a vital aspect of diagnosing diseases in animals, as many products such as meat, milk, and leather are derived from animals. It encompasses various devices and consumables that are essential for the early detection and treatment of animal diseases. Animal therapies rely on the administration of drugs, which vary in their mode of action and efficacy. The use of animal diagnostics is critical for managing and preventing disease outbreaks among animals. In addition to treating existing diseases, animal diagnostics play an important role in disease prevention and surveillance. By enabling early detection and prompt treatment, animal diagnostics can help prevent the spread of diseases to humans and safeguard public health. Therefore, animal diagnostics is an indispensable tool for ensuring the health and wellbeing of both animals and humans alike.

One of the significant factors driving the growth of the animal diagnostics market is increased expenditure on animal health. Pet owners are becoming more aware of their pet's health and are willing to spend more on their well-being. This rise in spending on animal health is expected to drive the demand for animal diagnostics. The rising incidence of zoonotic diseases is also contributing to the growth of the animal diagnostics market. Zoonotic diseases are illnesses that can be transmitted from animals to humans, and their prevalence is increasing. This increased focus on animal health is expected to drive the demand for animal diagnostics.

Another factor driving the growth of the animal diagnostics market is technological advancements in point-of-care diagnostics. Point-of-care diagnostics enables veterinarians to diagnose diseases quickly and accurately, without having to send samples to a laboratory. This technology is becoming more prevalent in veterinary clinics and is expected to drive the demand for animal diagnostics. The increasing disposable income levels in developing regions are also contributing to the growth of the animal diagnostics market. As disposable income levels rise, pet ownership is increasing, and pet owners are becoming more aware of their pet's health. This trend is driving the demand for animal diagnostics in developing regions. The increasing disposable income levels in developing regions are also contributing to the growth of the animal diagnostics market. As disposable income levels rise, pet ownership is increasing, and pet owners are becoming more aware of their pet's health. This trend is driving the demand for animal diagnostics in developing regions.

The demand for animal protein has been increasing globally, leading to the intensification of animal agriculture. This intensification increases the likelihood of infectious animal diseases, making animal diagnostics essential for animal health and safety. The animal diagnostics market is seeing a significant shift towards more advanced and innovative technologies, including genetic testing, proteomics, and metabolomics. These innovative techniques are becoming more widely accepted in most laboratories and are expected to drive the demand for animal diagnostics.

US Animal Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 7.1 billion

Largest Segment

Companion animals

Fastest Growth

Companion animals

Growth Rate

11.6% CAGR

Global Animal Diagnostics Market ($ Bn)
Country Share for North America Region (%)

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Animal Diagnostics Market Segmental Analysis

Global Animal Diagnostics Market is segmented by product type, technology, and animal type. Based on product type, the Global Animal Diagnostics Market is segmented into Consumables and Instruments. Based on the technology, the Animal Diagnostic Market is segmented into Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, and Hematology. Based on the animal type, the Animal Diagnostic Market is segmented into Companion Animals and Livestock. On regional basis, the Animal Diagnostic Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Animal Diagnostic Market Analysis by Product Type

By product type, the Global Animal Diagnostics Market is divided into consumables and Instruments. The Consumables segment is expected to hold a significant share of the market due to the repeated usage of these products in veterinary diagnostics. Consumables include reagents, test kits, and other materials required for performing diagnostic tests. The increasing demand for quick and accurate diagnosis of diseases in animals is driving the growth of this segment. The reagents segment is expected to hold the largest market share due to the increasing prevalence of zoonotic diseases and the growing awareness regarding animal health. The test kits segment is also expected to witness significant growth during the forecast period, owing to the growing demand for rapid and accurate diagnosis of animal diseases.

On the other hand, the Instruments segment is expected to grow at a higher CAGR during the forecast period. The growth of this segment can be attributed to technological advancements and the increasing adoption of automated diagnostic instruments in veterinary clinics and laboratories. Instruments include imaging devices, hematology analyzers, and diagnostic analyzers. The imaging devices segment is expected to hold the largest market share due to the growing demand for imaging techniques for the diagnosis of various diseases in animals.

Animal Diagnostic Market Analysis by Technology

By technology, the global animal diagnostics market can also be classified into Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, and Hematology. The Immunodiagnostics segment is expected to hold the largest market share due to the increasing prevalence of infectious diseases in animals and the growing demand for accurate and rapid diagnosis. Immunodiagnostics include tests based on immunoassays and ELISA, which are used for the detection of specific antibodies or antigens in animal samples. The ELISA segment is expected to hold the largest market share due to its high sensitivity and specificity in the detection of animal diseases. The increasing adoption of point-of-care testing for animal diagnostics is also driving the growth of this segment.

The Clinical Biochemistry segment is expected to witness significant growth during the forecast period due to the increasing demand for biochemical tests for the diagnosis of metabolic disorders, liver diseases, and renal diseases in animals. Clinical Biochemistry includes the measurement of various enzymes, electrolytes, and metabolites in animal samples. The growing awareness regarding animal health and the increasing expenditure on animal healthcare is driving the growth of this segment.

The Molecular Diagnostics segment is also expected to witness significant growth during the forecast period due to the increasing demand for PCR and other molecular diagnostic tests for the detection of infectious diseases in animals. Molecular diagnostic tests are highly sensitive and specific in the detection of various pathogens in animal samples. The growing adoption of advanced technologies in veterinary diagnostics is also driving the growth of this segment.

The Hematology segment is expected to witness significant growth during the forecast period due to the increasing incidence of hematological disorders in animals. Hematology includes the measurement of various blood cells and parameters such as red blood cells, white blood cells, and platelets in animal samples. The increasing prevalence of anemia and leukemia in animals is driving the growth of this segment.

Animal Diagnostic Market Analysis by Animal Type

By animal type, the animal diagnostics market is segmented into companion animals and livestock. The companion animals segment is expected to have a larger market share in the animal diagnostics market as compared to the livestock segment. Companion animals, such as dogs, cats, and horses, are kept as pets and are an integral part of people’s lives. The companion animals segment is expected to grow at a faster CAGR due to increasing pet ownership, growing pet insurance coverage, and a higher willingness to spend on pet care. According to the American Pet Products Association (APPA), the pet industry expenditure in the US was estimated to be over USD 120 billion in 2022, indicating significant growth potential in the companion animal diagnostics market.

The livestock segment is also expected to grow significantly during the forecast period due to the increasing demand for animal-derived products such as meat, milk, and eggs. The growth in this segment is also driven by the need for efficient disease diagnosis, which is essential to prevent economic losses and maintain a healthy herd. According to the United Nations, global meat production is projected to increase by 14% from 2022 to 2030, which is expected to drive the demand for livestock animal diagnostics.

Global Animal Diagnostics Market By Type

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Animal Diagnostics Market Regional Insights

North America is dominating the animal diagnostic market due to several factors such as the presence of numerous animal healthcare companies, an established healthcare infrastructure, and a growing number of pet owners. The region is witnessing an increase in awareness about animal health, which is leading to the growth of the animal diagnostic market. The growing demand for animal-derived food products is also driving the growth of the animal diagnostic market in North America. North America is characterized by a high level of technological advancement, which has led to the development of advanced animal diagnostics products and services. The increasing adoption of companion animals and the growing demand for animal healthcare services are also contributing to the growth of the animal diagnostics market in the region. Furthermore, the region's well-established regulatory framework ensures the safety and efficacy of animal diagnostic products and services, which has led to increased consumer confidence in the market.

The Asia-Pacific region is expected to be the fastest-growing region of the animal diagnostic market during the forecast period. The growth can be attributed to the increasing demand for animal healthcare products and services, growing awareness about zoonotic diseases, and the rising adoption of companion animals. The animal diagnostic market in Asia-Pacific is witnessing growth due to several government initiatives to promote animal health and rising investments in the animal healthcare sector. Moreover, the region's growing population and rising disposable income levels are leading to increased pet ownership, which is further driving the demand for animal healthcare products and services. The increasing awareness about zoonotic diseases, such as avian influenza and swine flu, is also contributing to the growth of the animal diagnostic market in Asia-Pacific. The market in the region is characterized by the presence of both international and domestic players offering a wide range of animal diagnostic products and services.

Global Animal Diagnostics Market By Region
  • Largest
  • Fastest

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Animal Diagnostics Market Dynamics

Animal Diagnostic Market Drivers

Increasing expenditure on animal health

  • The increasing expenditure on animal health is driving the growth of the global animal diagnostics market. Pet owners and farmers are becoming more aware of the importance of animal health and are willing to spend more on animal healthcare products and services. The growing demand for animal-derived food products is also contributing to the increase in expenditure on animal health. This trend is particularly evident in developed regions such as North America and Europe, where pet ownership is high, and consumers have higher disposable incomes. The rise in expenditure on animal health is expected to continue to drive the growth of the animal diagnostics market in the coming years.

Technological advancements in point-of-care diagnostics

  • Technological advancements in point-of-care diagnostics have significantly impacted the animal diagnostics market. Point-of-care diagnostic tests provide quick and accurate results, enabling veterinarians and animal healthcare professionals to make informed decisions about animal health. These tests also reduce the need for laboratory testing, resulting in faster diagnoses and treatment, and lower costs for animal owners. The development of portable and handheld devices for point-of-care testing has further expanded the use of these diagnostic tools in remote or underdeveloped regions. Overall, the increasing adoption of point-of-care diagnostics is expected to drive the growth of the animal diagnostics market in the coming years, as these technologies continue to become more advanced and accessible.

Animal Diagnostic Market Restraints

High cost of animal diagnostic tests and services

  • One of the major challenges faced by the animal diagnostic market is the high cost of animal diagnostic tests and services. The cost of diagnostic tests can be a barrier to animal owners seeking treatment for their pets or livestock, particularly in developing regions. Additionally, the lack of reimbursement policies for animal healthcare services in some regions can further limit the affordability of diagnostic tests. The high cost of animal diagnostics can also limit the adoption of new technologies by animal healthcare professionals, as the initial investment in new equipment and training can be expensive. Overall, the cost of animal diagnostics is a significant restraint for the animal diagnostics market, particularly in regions with lower levels of disposable income.

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Animal Diagnostics Market Competitive Landscape

The global animal diagnostics market is highly fragmented, with numerous small and large players operating in the market. These players offer a wide range of animal diagnostic products and services, including point-of-care diagnostics, laboratory testing, and imaging services. The market is characterized by intense competition, with players competing on factors such as price, product quality, and service offerings. In addition, players are investing heavily in research and development to launch new and innovative products and services, further intensifying competition in the market. Overall, the animal diagnostics market is highly competitive and dynamic, with players constantly striving to gain a larger share of the market.

Animal Diagnostic Market Top Player’s Company Profiles

  • IDEXX Laboratories Inc.
  • Zoetis Inc.
  • Thermo Fisher Scientific Inc.
  • Heska Corporation
  • Virbac
  • Bio-Rad Laboratories Inc.
  • Abaxis Inc.
  • Neogen Corporation
  • QIAGEN N.V.
  • IDvet
  • VCA Inc.
  • Covetrus Inc.
  • Boehringer Ingelheim International GmbH
  • Randox Laboratories Ltd.
  • Fassisi GmbH
  • Eurolyser Diagnostica GmbH
  • AniBio GmbH & Co. KG
  • Greiner Bio-One GmbH
  • Henry Schein, Inc.
  • IDEXX Distribution, Inc

Animal Diagnostic Market Recent Developments

  • In January 2022, IDEXX Laboratories announced the launch of its new IDEXX Livestock Pregnancy Test, a diagnostic test that provides accurate and reliable results for the detection of pregnancy in cows, sheep, and goats.
  • In November 2021, Zoetis Inc. announced the acquisition of ZNLabs, a veterinary reference laboratory that specializes in molecular diagnostic testing for pets.
  • In October 2021, Heska Corporation announced the launch of Element i+ SARS-CoV-2, a diagnostic test that can detect the COVID-19 virus in pets.
  • In August 2021, Thermo Fisher Scientific Inc. announced the launch of its new VetMAX M. haemolytica Pneumonia Detection Kit, a diagnostic test that can detect pneumonia in cattle caused by Mannheimia haemolytica.
  • In July 2021, Neogen Corporation announced the launch of its new AccuPoint Advanced Next Generation System, a handheld diagnostic tool that can rapidly detect bacteria on surfaces in veterinary clinics and animal production facilities.

Animal Diagnostics Key Market Trends

  • The global animal diagnostics market is a growing demand for point-of-care (POC) diagnostics. POC diagnostics are rapid, portable, and easy-to-use diagnostic tools that enable veterinarians to make accurate and timely diagnoses at the point of care. These tools are becoming increasingly popular among veterinary practitioners due to their ability to provide real-time results and improve patient outcomes. Advancements in technology have resulted in the development of POC diagnostic tools that can detect a wide range of animal diseases, including infectious diseases, metabolic disorders, and genetic abnormalities. These tools are being used not only in veterinary clinics but also in the field, allowing veterinarians to diagnose and treat animals in remote locations. The growing demand for POC diagnostics is driven by several factors, including the increasing prevalence of animal diseases, the need for rapid and accurate diagnoses, and the rising demand for animal-derived food products.

Animal Diagnostics Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global animal diagnostics market analysis, the market is experiencing significant growth, driven by various factors such as increased expenditure on animal health, technological advancements in diagnostic tools, and the growing demand for animal-derived food products. North America is currently dominating the animal diagnostics market, followed by Europe, due to the high number of animal healthcare companies and a growing number of pet owners. However, the Asia-Pacific region is expected to experience the fastest growth due to the increasing prevalence of animal diseases and the rising demand for animal-derived food products. All the companies are constantly innovating to meet the evolving needs of the market, with a focus on developing advanced diagnostic tools and expanding their product portfolios through strategic partnerships and collaborations. Despite the growth potential, the market faces several challenges such as high costs associated with diagnostic tests and stringent regulatory requirements.

Report Metric Details
Market size value in 2022 USD 7.3 billion
Market size value in 2031 USD 19.60 billion
Growth Rate 11.6%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product Type
    • Consumables and Instruments
  • Technology
    • Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, and Hematology
  • Animal Type
    • Companion Animals and Livestock
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • IDEXX Laboratories Inc.
  • Zoetis Inc.
  • Thermo Fisher Scientific Inc.
  • Heska Corporation
  • Virbac
  • Bio-Rad Laboratories Inc.
  • Abaxis Inc.
  • Neogen Corporation
  • QIAGEN N.V.
  • IDvet
  • VCA Inc.
  • Covetrus Inc.
  • Boehringer Ingelheim International GmbH
  • Randox Laboratories Ltd.
  • Fassisi GmbH
  • Eurolyser Diagnostica GmbH
  • AniBio GmbH & Co. KG
  • Greiner Bio-One GmbH
  • Henry Schein, Inc.
  • IDEXX Distribution, Inc
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Animal Diagnostics Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Animal Diagnostics Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Animal Diagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Animal Diagnostics Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Animal Diagnostics Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Animal Diagnostics Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Animal Diagnostics Market size was valued at USD 7.3 billion in 2022 and is poised to grow from USD 8.15 billion in 2023 to USD 19.60 billion by 2031, growing at a CAGR of 11.6% in the forecast period (2024-2031).

The global animal diagnostics market is highly fragmented, with numerous small and large players operating in the market. These players offer a wide range of animal diagnostic products and services, including point-of-care diagnostics, laboratory testing, and imaging services. The market is characterized by intense competition, with players competing on factors such as price, product quality, and service offerings. In addition, players are investing heavily in research and development to launch new and innovative products and services, further intensifying competition in the market. Overall, the animal diagnostics market is highly competitive and dynamic, with players constantly striving to gain a larger share of the market. 'IDEXX Laboratories Inc.', 'Zoetis Inc.', 'Thermo Fisher Scientific Inc.', 'Heska Corporation', 'Virbac', 'Bio-Rad Laboratories Inc.', 'Abaxis Inc.', 'Neogen Corporation', 'QIAGEN N.V.', 'IDvet', 'VCA Inc.', 'Covetrus Inc.', 'Boehringer Ingelheim International GmbH', 'Randox Laboratories Ltd.', 'Fassisi GmbH', 'Eurolyser Diagnostica GmbH', 'AniBio GmbH & Co. KG', 'Greiner Bio-One GmbH', 'Henry Schein, Inc.', 'IDEXX Distribution, Inc'

The increasing expenditure on animal health is driving the growth of the global animal diagnostics market. Pet owners and farmers are becoming more aware of the importance of animal health and are willing to spend more on animal healthcare products and services. The growing demand for animal-derived food products is also contributing to the increase in expenditure on animal health. This trend is particularly evident in developed regions such as North America and Europe, where pet ownership is high, and consumers have higher disposable incomes. The rise in expenditure on animal health is expected to continue to drive the growth of the animal diagnostics market in the coming years.

The global animal diagnostics market is a growing demand for point-of-care (POC) diagnostics. POC diagnostics are rapid, portable, and easy-to-use diagnostic tools that enable veterinarians to make accurate and timely diagnoses at the point of care. These tools are becoming increasingly popular among veterinary practitioners due to their ability to provide real-time results and improve patient outcomes. Advancements in technology have resulted in the development of POC diagnostic tools that can detect a wide range of animal diseases, including infectious diseases, metabolic disorders, and genetic abnormalities. These tools are being used not only in veterinary clinics but also in the field, allowing veterinarians to diagnose and treat animals in remote locations. The growing demand for POC diagnostics is driven by several factors, including the increasing prevalence of animal diseases, the need for rapid and accurate diagnoses, and the rising demand for animal-derived food products.

North America is dominating the animal diagnostic market due to several factors such as the presence of numerous animal healthcare companies, an established healthcare infrastructure, and a growing number of pet owners. The region is witnessing an increase in awareness about animal health, which is leading to the growth of the animal diagnostic market. The growing demand for animal-derived food products is also driving the growth of the animal diagnostic market in North America. North America is characterized by a high level of technological advancement, which has led to the development of advanced animal diagnostics products and services. The increasing adoption of companion animals and the growing demand for animal healthcare services are also contributing to the growth of the animal diagnostics market in the region. Furthermore, the region's well-established regulatory framework ensures the safety and efficacy of animal diagnostic products and services, which has led to increased consumer confidence in the market.

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