What is the global market size of Animal Diagnostics Market?

The global Animal Diagnostics Market size was valued at USD 7.1 billion in 2021 and is poised to grow from USD 7.3 billion in 2022 to USD 16.9 billion by 2030, growing at a CAGR of 11.6% in the forecast period (2023-2030).

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

Q: What is the key market trend for Global Animal Diagnostics Market?

The key market trend for the global animal diagnostics market is the 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.

Q: Which region accounted for the largest share in Global Animal Diagnostics Market?

North America dominates the animal diagnostics market due to factors such as the presence of numerous animal healthcare companies, an established healthcare infrastructure, and a growing number of pet owners.

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

Animal Diagnostics Market News

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 Market Report Snapshots

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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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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

Animal Diagnostics Market News

Animal Diagnostics Market Report Snapshots

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What is the global market size of Animal Diagnostics Market?

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What is the key driver of Animal Diagnostics Market?

What is the key market trend for Animal Diagnostics Market?

Which region accounted for the largest share in Animal Diagnostics Market?

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