USD 1.94 billion
Veterinary POC Diagnostics Market Size, Share, Growth Analysis, By Product type(Consumables, Reagents, & Kits and Instruments & Devices), By Animal Type(Companion Animals and Livestock Animals), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35A2190 |
Region:
Global |
Published Date: July, 2024
Pages:
219
|Tables:
61
|Figures:
75
Veterinary POC Diagnostics Market Insights
Veterinary POC Diagnostics Market size was valued at USD 2.16 Billion in 2023 and is poised to grow from USD 2.41 Billion in 2024 to USD 5.76 Billion by 2032, growing at a CAGR of 11.50% during the forecast period (2025-2032).
A veterinarian or veterinary surgeon treats non-human animals suffering from illnesses, injuries, and accidents while studying veterinary medicine. Veterinarians identify, treat, and conduct research on health issues and diseases that affect canines, animals, and other species. Veterinarians do dental work, surgical and medical procedures, treat ailments, and immunise animals against them.
Point-of-care diagnostics are analytical systems that deliver data that is clinically relevant without the requirement for a core diagnostic laboratory. These tests, which are streamlined versions of conventional laboratory assays, are made to give the individual practitioner a great deal of discretion while still providing information at the point-of-use. For the majority of people who depend on livestock around the world, livestock and poultry serve as wealth assets and sources of food, agricultural labour, clothing, fertiliser, and social status. However, this dependence is accompanied by a disproportionately high burden of zoonotic infections, making many rural people' health and way of life particularly susceptible to the introduction of animal diseases.
US Veterinary POC Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Consumables, Reagents, & Kits
Fastest Growth
Instruments & Devices
Growth Rate
11.50% CAGR
veterinary poc diagnostics market, 2021-2030($ Bn)
Country Share for North America Region- 2021 (%)
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Veterinary POC Diagnostics Market Segmental Analysis
veterinary poc diagnostics market is segmented based on the product type, animal type and region. Based on product type, the market is segmented into Consumables, Reagents, & Kits and Instruments & Devices. Based on animal Type, the market is segmented into Companion Animals and Livestock Animals. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Product
Based on product type, The market's highest share, anticipated to be more than 55% in 2021, belonged to consumables, reagents and kits. This is because there are many products available, important firms have an edge, and reagents and consumables are sold using a subscription-based or recurring payment mechanism. For example, Heska Corporation has long-term subscriptions for more than 90% of its point of care consumables. In 2019, there were 2,376 total subscriptions; in 2021, there will be 2,980. Over 95% of subscribers were kept on, according to the corporation.
The instruments and devices market is expected to grow the fastest in the next few years, at a pace of roughly 10.2%, owing to increasing product advancements and demand for these items. Over the projected period, it is anticipated that there will be a rise in the demand for food made from animals, which would raise the need for animal immunodiagnostic tests. The two main items utilized in veterinary diagnostics are immunodiagnostic kits and clinical chemistry. This is due to the rise in interest in identifying animal general health profiles.
Analysis by Animal
Based on animal type, Companion By animal kind, animals led the market, while livestock animals are predicted to rise. This dominance is brought on by an increase in the number of pets, spending, acceptance of pet insurance, and the requirement to protect livestock animals' health in order to guarantee food sources. For instance, according to data from the American Pet Products Association (APPA), 90.5 million American households, or 70%, had pets in 2021–2022. Over the projection period, this expanding population will increase demand for veterinary molecular diagnostics.
Over the forecast period, the market for livestock animals is anticipated to account for a sizable portion of the market. The increase in production of animals is responsible for this. Cattle, swine, poultry, and other animals are considered livestock. The enormous population of livestock and the increasing prevalence of zoonotic illnesses are the main factors driving the market for livestock animals. One of the main factors driving the market's expansion is the rise in the number of veterinarians.
veterinary poc diagnostics market By product type, 2021 (%)
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Veterinary POC Diagnostics Market Regional Insights
In 2021, North America accounted for more than 50% of the market. The U.S. and Canada's advanced veterinary health care infrastructure and the presence of major market participants account for a sizable portion of the North American region's market share. In 2020, there will be between 28,000 and 32,000 veterinarian clinics in the United States, according to the Veterinary Practice News.
Asia Pacific is anticipated to develop at the quickest CAGR of over 13% During the projection period. This is due to a number of factors, including a rising understanding of diagnostic alternatives, the presence of local market participants, and an increase in the number of pets. Additionally, FUJIFILM Corporation, Neogen Corporation, Heska Corporation, Thermo Fisher Scientific, Inc., Zoetis, IDEXX Laboratories, Inc., and other important market players have made substantial contributions to the revenue generation in the Asia Pacific market.
veterinary poc diagnostics market By product type, 2021-2030
- Largest
- Fastest
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Veterinary POC Diagnostics Market Dynamics
Drivers
Rapidly Rising Demand for PoC Kits to Bolster Market Growth
- The need for PoC test kits is predicted to increase in the next few years, which will lead to a large increase in the market for veterinary point-of-care diagnostics. The market, however, is anticipated to be hampered by weak reimbursement rules. Additionally, it is anticipated that over the course of the forecast period, the veterinary Point-of-Care (PoC) diagnostic market will grow due to the increased prevalence of various pandemic diseases, shorter turnaround times, precise results, changes in diagnostic trends, and adoption of cutting-edge technologies.
Restraints
High Cost to Hinder Market
- One significant obstacle to adoption is the high expense of modern diagnostic tests. Systems for veterinary diagnostic imaging are also expensive goods. Small portable machines typically cost between USD 2,000 and USD 50,000, with backup transducer probes costing up to USD 1,000 and printers costing up to USD 2,000. Small to medium-sized veterinary operations are the norm, and financial restrictions are severe. Therefore, one of the main market restraints is the high cost of these tests and systems. Another barrier limiting the use of veterinary diagnostics and, consequently, the expansion of this market, is the lack of payment for veterinary operations.
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Veterinary POC Diagnostics Market Competitive Landscape
veterinary poc diagnostics market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Player's Company Profiles
- Zoetis Inc.
- IDEXX Laboratories, Inc.
- Heska Corporation
- Abaxis, Inc.
- Virbac
- Bio-Rad Laboratories, Inc.
- Neogen Corporation
- Thermo Fisher Scientific Inc.
- IDvet
- Randox Laboratories Ltd.
- AniPOC Limited
- Eurolyser Diagnostica GmbH
- QIAGEN N.V.
- Biogal Galed Laboratories
- Woodley Equipment Company Ltd.
- Fassisi GmbH
- BioNote, Inc.
- InBios International, Inc.
- BioMedica Diagnostics Inc.
- VCA Antech, Inc.
Recent Developments
-
On January 2023, the world's leading provider of veterinary imaging, Sound Technologies, and GE HealthCare announced a partnership to market the Vscan Air, a cutting-edge, wireless, pocket-sized ultrasound that offers incredibly clear images. Veterinarian clinics in the United States can now benefit from high-quality images, whole-patient scanning capabilities, and user-friendly software. The use of ultrasound in veterinary medicine has the potential to revolutionize the way that dogs, cats, horses, cows, pigs, goats, and exotic animals care for creatures such as reptiles and small mammals. Without the risk of ionizing radiation and typically for a low cost, ultrasound allows for a precise and thorough inspection of inside organs. It is a crucial tool in veterinary medicine since it helps doctors to accurately detect a variety of illnesses that animals can develop and to closely inspect their interior organs, unlike with other methods.
-
With the launch of the company's new R&D facility in Taiwan's Pingtung Agricultural Biotechnology Park (PABP) on December 20, 2022, Virbac R&D achieved a significant milestone.
-
November 2022: Through the Reference Laboratories of Heska Corporation, Volition introduced the Nu.Q Vet Cancer Screening Test in the United States and Europe.
Veterinary POC Diagnostics Key Market Trends
- The US Centers for Disease Control & Prevention (CDC) reports that eight significant zoonotic outbreaks occurred in 2019. Numerous Americans fall ill each year as a result of diseases that are transmitted from animals to humans. It is vital that nations improve their individual capacities to prevent and combat these diseases because six out of ten human diseases are zoonotic. This increases the requirement for routinely checking the health of animals, particularly livestock. As a result, it is reasonable to anticipate that the rising prevalence and incidence of animal diseases would increase the need for cutting-edge diagnostic tools to identify, track, and contain disease outbreaks. The global market for veterinary diagnostics will grow as a result of the availability of new diagnostic technologies that will enable veterinarians to offer better diagnosis and treatment. Additionally, ongoing studies, inventions, and education campaigns will help market participants obtain sustainable competitive advantages, bolstering their positions in the veterinary diagnostics industry.
Veterinary POC 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 utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our veterinary poc diagnostics market analysis, in terms of product type, the consumables, reagents, and kits segment held larger market share. This was caused by the availability of various products. And in terms of animal type, the Companion segment contributes to the market growth. The rising prevalence of various pandemic diseases drives the market. Whereas high cost veterinary poc diagnostics tests can hamper the market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.94 billion |
| Market size value in 2031 | USD 5.17 billion |
| Growth Rate | 11.50% |
| 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:-
|
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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 Veterinary POC 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
- Exhibit: Impact analysis of DROC, 2021
- 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 Veterinary POC 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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Competitive rivalry
- 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(%)
- Total number of companies covered
Methodology
For the Veterinary POC 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 Veterinary POC 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 Veterinary POC Diagnostics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Veterinary POC 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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