USD 7.1 billion
Report ID:
SQMIG35J2026 |
Region:
Global |
Published Date: February, 2024
Pages:
272
|Tables:
87
|Figures:
76
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.
Global Market Size
USD 7.1 billion
Largest Segment
Companion animals
Fastest Growth
Companion animals
Growth Rate
11.6% CAGR
To get more reports on the above market click here to Buy The Report
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.
To get detailed analysis on other segments, Request For Free Sample Report
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.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Animal Diagnostic Market Drivers
Increasing expenditure on animal health
Technological advancements in point-of-care diagnostics
Animal Diagnostic Market Restraints
High cost of animal diagnostic tests and services
Request Free Customization of this report to help us to meet your business objectives.
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
Animal Diagnostic Market Recent Developments
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 |
|
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 |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG35J2026
sales@skyquestt.com
USA +1 351-333-4748