According to our new research study on “Veterinary Diagnostics Market Forecast to 2030 – Country Analysis – by Product, Disease Type, Technology, Animal Type, and End User,” the veterinary diagnostics market size is expected to grow from US$ 4,045.50 million in 2022 to US$ 7,270.43 million by 2030; it is estimated to register a CAGR of 7.60% during 2022–2030.
Key factors driving the veterinary diagnostics market growth include rising prevalence of zoonotic diseases and growing ownership of companion animals. However, the lack of skilled professionals in veterinary research hinders the market growth.
Based on product, the veterinary diagnostics market is bifurcated into instruments and consumables. The instruments segment held a larger market share in 2022. The consumables segment is anticipated to register a higher CAGR of 8.78% during 2022–2030. Veterinary consumables involve testing tubes, containers, petri dishes, deep well plates, and kits comprising syringes, needles, safety lancets, IV sets & tubes, and samplers. These consumables are intended to be used for companion animal diagnostics such as pet (canine, feline, and avian), bovine, goat, swine, equine, and poultry. The testing tubes involve citrate, ESR, glucose, and others. The cuvettes are used for biochemical tests of companion animals. Moreover, several manufacturers are involved in offering consumables for veterinary diagnostics animals. HWTAI is one such example. The consumables offered by HWTAI comprises specimen containers, petri dish, deep well plate, cuvette, swabs, VTM, and others. The rising diagnostics testing for veterinary and companion animals results in the high demand for consumables, thereby catalyzing the market for the consumables segment during 2022–2030.
Veterinary Diagnostics Market Size and Forecast (2020-2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Coverage: Product (Instruments and Consumables), Technology (Immunodiagnostics, Clinical Biochemistry, Hematology, Molecular Diagnostics, and Other Veterinary Diagnostic Technologies), Animal Type (Livestock Animals and Companion Animals), Disease Type (Infectious Diseases, Non-Infected Diseases, and Other Diseases), End User (Veterinary Hospitals & Clinics, Animal Diagnostic Laboratories, and Veterinary Research Institutes & Universities), and Geography (North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa)
Veterinary Diagnostics Market Insights Report | Size & Share 2030
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Based on technology, the veterinary diagnostics market is segmented as immunodiagnostics, clinical biochemistry, hematology, molecular diagnostics, and others. Immunodiagnostics is further sub-segmented as lateral flow assays, ELISA tests, immunoassay analyzers, allergen-specific immunodiagnostic tests, and others. Additionally, clinical biochemistry is further segmented into clinical chemistry analysis, glucose monitoring, and blood gas & electrolyte. The immunodiagnostics segment held the largest market share in 2022 and is anticipated to register the highest CAGR of 8.90% during the forecast period. The health of the animals is majorly associated with parasitic diseases. A parasite with a two host prey–predator lifecycle acts as an intermediate host, causing some of the most devastating and prevalent diseases in humans and animals. As per the World Health Organization (WHO) 2023 report, about 1 billion cases of illness and millions of deaths occur annually from zoonoses. About 60% of emerging infectious diseases reported globally account for zoonoses. To overcome such a high prevalence of zoonotic infections, the demand for immunodiagnostic techniques is high among veterinarians. Cystic echinococcosis (CE) and Alveolar echinococcosis (AE) are severe zoonotic diseases caused by the larval stage (metacestode) of the Helminth Echinococcus multilocularis. Immunodiagnostics employs antigen–antibody binding with a variety of detection methods for the immune complexes formed.
Also, immunodiagnostics technology is easier to perform than other techniques, such as PCR chromatography for drug quantification. Further, immunodiagnostics are useful in studying infectious disease serology among veterinary animals. The "WITNESS" immunodiagnostics is one such example offered by Pfizer Animal Health. The WITNESS test offers accurate and rapid results, requiring no snapping, feature room temperature storability, and is easy to interpret. The WITNESS HW heartworm test is intended for dogs and cats with accuracy, affordability, and minimal time to snap. Also, the WITNESS feline leukemia virus (FeLV) test is highly accurate, sensitive, and specific for testing cats or kittens at any age. With the rising prevalence of zoonotic diseases, the demand for immunodiagnostics is high among veterinarians, thereby accelerating the market for the immunodiagnostics segment.
The veterinary diagnostics market, by animal type, is bifurcated into livestock animals and companion animals. Livestock animals is further segmented into cattle, pigs, poultry, and others. Companion animals is sub-segmented into dogs, cats, horses, and others. The companion animal segment held the largest share of the market in 2022 and is anticipated to register the highest CAGR of 8.10% in the market during 2022–2030. Companion animals include dogs, cats, horses, and others. Companion animals are a potential source of infectious disease for humans and food-producing animals. Newcastle disease epidemiology of neosporosis is a famous example of companion animals suffering from infectious diseases. Additionally, West Nile Virus (WNV) results in inflammation of the brain (encephalitis) and spinal cord lining (meningitis). Among horses bitten by a carrier mosquito, one-third will typically develop severe disease, resulting in the death of animals. Feline infectious peritonitis (FIP) is a viral disease of cats responsible for feline coronavirus. The incidence of the disease is 1 per 5,000 families of cats, as published in Thermo Fisher Scientific report. With such a high prevalence, the demand for companion animal diagnostic methods is high among veterinarians, ultimately driving the market for the companion animal segment.
Various initiatives have also been taken to enhance veterinarians' knowledge about the utility of antimicrobial drugs to companion animals. Veterinarians' awareness of antimicrobial drugs to treat diseases among companion animals reported in an AVMA survey revealed that 60.5% of the US veterinarian participants were aware of guidelines related to the utility of antimicrobial drugs. Such guidelines associated with rising awareness of antimicrobial drugs to treat infectious diseases among companion animals further promote the market for the segment.
The veterinary diagnostics market, by disease type, is categorized into infectious diseases, non-infectious diseases, and other diseases. The infectious diseases segment held the largest share of the market in 2022 and is anticipated to register the highest CAGR of 8.07% in the market during 2022–2030. Veterinary infectious diseases impact the overall health of livestock, domestic animals, and wildlife. Therefore, animal farming can contribute to the spread of pathogens from wild animals due to deforestation and biodiversity loss associated with agriculture. Almost two-thirds of the pathogens cause human diseases as per the Creative Diagnostics 2023 report. These diseases include SARS-CoV-2/COVID-19, avian influenza, rabies, and Ebola.
Additionally, other animal infectious diseases such as African Swine Fever, Classical Swine Fever (CSF), Foot and mouth Disease (FMD), Newcastle Disease (ND), Lumpy Skin Disease (LSD), African Horse Sickness (AHS) have proven to be extremely fatal. Therefore, the demand for veterinary diagnostics is high with the rising prevalence of animal infectious diseases. Creative Diagnostics offers a range of high-quality antigens and antibodies for an extensive range of viral, bacterial, and protozoal veterinary diseases. These reagents are intended for livestock and companion animals suffering from clinically relevant pathogens such as Newcastle Disease and Brucella Abortus. Also, the reagents can be used in a wide range of research applications and the development of immunoassays for diagnostic and vaccine R&D. The aforementioned factors are responsible for the influential growth of the segment.
The veterinary diagnostics market, by end user, is segregated into veterinary hospitals & clinics, animal diagnostic laboratories, and veterinary research institutes & universities. The veterinary hospitals & clinics segment held the largest share of the market in 2022, and the hospital segment is anticipated to register the highest CAGR of 8.14% in the market during 2022–2030. Veterinary-associated infections are majorly treated in veterinary hospitals & clinics. Similar to human care, the "Accreditation Standards" framework is developed to achieve desired goals. These standards allow healthcare providers to overlook systems, policies, procedures, and processes to provide better services. Therefore, veterinary hospitals & clinics are developed to prove effective in understanding and providing benefits to animals to reduce mortality, infection rates, and adverse effects. Such accreditations bring transparency in overall veterinary hospitals & clinics' functionality and achieve better clinical outcomes for animals' health. Additionally, the PVS Pathway for the sustainable improvement of national veterinary services and aquatic animal health services, one health capacity building in partnership with the World Health Organization (WHO), the Food and Agriculture Organization of the United Nations (FAO), and Veterinary Legislation Support are among such accreditations to the veterinary hospitals & clinics.
Thermo Fisher Scientific Inc, Idexx Laboratories Inc, Zoetis Inc, Heska Corp, Neogen Corp, Randox Laboratories Ltd, Virbac SA, INDICAL BIOSCIENCE GmbH, FUJIFILM Holdings Corp, and Merck Animal Health are among the leading companies operating in the veterinary diagnostics market.
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