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 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.