Dublin, March 23, 2022 (GLOBE NEWSWIRE) -- The "Veterinary Diagnostics Market Size, Share & Trends Analysis Report by Species (Canine, Feline), by End-use (POC/In-House, Labs), by Testing Type (Immunoassays, Pathology), by Product, by Disease Type, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global veterinary diagnostics market size is expected to reach USD 16.9 billion by 2030. The market is expected to expand at a CAGR of 11.2% from 2022 to 2030. The growing incidence of zoonotic and foodborne diseases is expected to drive the market over the forecast period.
Moreover, increasing companion ownership in developing countries is another factor propelling the market. Approximately 75% of all novel and emerging human infectious ailments are zoonotic, like COVID-19, denoting that they can jump from animals to individuals. To combat COVID-19 and future pandemics, leaders from the Group of Seven in a February 2021 statement called for "affordable and equitable access to diagnostics" along with strengthening the One Health approach that unites veterinary, medical, and environmental disciplines in a cooperative effort.
In November 2021, Ellie Diagnostics proclaimed a new capital partnership to expand its diagnostic services across the U.S. Ellie provides diagnostics testing to veterinary clinics and specialty animal hospitals. On a global level, animal product consumption is witnessing a surge. This is supported by increasing human population, per capita, and animal health awareness in developing nations. Due to all these elements, the global demand for animal diagnostics has increased. The In-vitro (IVD) test kits and analyzers are rapidly filling the market. Apart from that, there is growth observed in the point of care treatments for animals as it provides convenience for the animals and their caretakers.
Moreover, the shift towards advanced test techniques, such as immune & molecular diagnostics, hematology, and nanotechnology, which are quick and efficient in producing the results is further propelling the growth. The U.S. is observed to have the highest number of companies dealing in this space, which, in turn, has contributed to the large share of North America in the global market. However, Asia Pacific is expected to emerge as the fastest-growing regional market. The upcoming tools and techniques in veterinary diagnostics space are nucleic acid, non-PCR techniques, biosensors, fluorescence polarization technology, whole-genome sequencing (WGS), biomarkers, nanotechnology, digitalization, and big data use, wearables, and apps, such as Vet on Demand, Treat, Pet life and Pet+Pixie.
Zoetis, IDEXX Laboratories Inc., Heska Corp., and VCA Antech diagnostics are the prominent players with a 70-80% market share in 2021. In June 2021, IDEXX Laboratories, Inc. publicized the acquisition of ezyVet. With this purchase, the company further expanded its cloud software offerings that assist customers with technology solutions that improve the standard of care for patients and allow more effective communication with pet owners.
Veterinary Diagnostics Market Report Highlights
- Global meat production is expected to rise tremendously due to high demand, growing population, and increasing per capita income in emerging nations. This will drive the overall market growth
- Consumables held the largest revenue share in 2021 owing to an increased usage of consumables in point of care diagnostics
- Under the species segment, the canine type held the major share in 2021 followed by, feline & porcine. The growth can be attributed to increasing pet healthcare expenditure and growing companion ownership
- Pathology held the largest revenue share of testing type in 2021 owing to the high demand for diagnostic consumables & instruments utilized during laboratory testing and the increased volume of pathology tests performed for production animals, avians, and pets
- Non-infectious diseases held the highest market share in the diseases segment in 2021. But the number of hereditary, congenital, structural, and functional diseases in livestock and companion animals is increasing worldwide
- The point of care segment is expected to show the fastest CAGR over the forecast years due to its rapidity, efficiency, and user convenience
Key Topics Covered:
Chapter 1 Research Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Veterinary Diagnostics Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent market analysis
3.1.2 Ancillary market Analysis
3.2 Penetration & Growth Prospect Mapping
3.3 Regulatory Framework
3.4 Veterinary Diagnostics Market Dynamics
3.4.1 General trends in the veterinary diagnostics market
3.4.1.1 Increase in animal health expenses and pet ownership
3.4.2 Total U.S. Pet Clinical Visits (%, 2020)
3.4.2.1 Critical need for correct diagnosis
3.4.2.2 Rise in the number of veterinarians and application of In Vitro Diagnostics (IVD) instrumentation
3.4.2.3 Asia Pacific and Africa most affected with animal diseases
3.4.2.4 The market is shifting toward quality, safety, and efficacious products
3.4.2.5 Increasing usage of immunoassays and molecular diagnostics
3.4.2.6 In-clinic analyzers are gaining popularity
3.4.2.7 Increase in incidence of diseases due to climatic changes
3.4.2.8 Economic downturn and recession resistance in the market
3.4.3 Market driver analysis
3.4.3.1 Increasing companion animals population and pet owners
3.4.3.2 rising number of veterinarians and veterinary visits
3.4.3.3 growing demand for pet insurance
3.4.3.4 Technological Advancements
3.4.3.5 Increasing demand for point-of-care diagnostics
3.4.4 Market restraint analysis
3.4.4.1 Economic differences in developed & developing markets
3.4.4.2 Differences in culture, dietary preferences, animal ownership preferences, & animal care standards
3.4.4.3 Epidemiological differences and disease dynamics
3.4.4.4 Availability of conducive climate, arable land, & fresh water
3.4.4.5 Unstructured and lenient rules & regulations
3.4.4.6 Time-consuming R&D processes and higher investments
3.5 Veterinary Diagnostics Market Analysis Tools: Porters
3.6 PESTEL Analysis
3.7 Industry Value Chain Analysis
3.8 Consumer Behaviour Analysis
3.9 Covid-19 Impact
3.10 Major Deals & Strategic Alliances Analysis
Chapter 4 Veterinary Diagnostics Market: Competitive Analysis
4.1 Market Participation Categorization
4.2 Public Companies
4.2.1 Company market position analysis
4.2.2 Market Differentiators
4.2.2.1 Idexx Laboratories
4.2.2.2 Zoetis Inc.
4.2.2.3 Heska Corporation
4.2.3 Heat Map Analysis
4.3 Private Companies
4.3.1 List of Private companies
Chapter 5 Veterinary Diagnostics Market: Product Estimates and Forecasts to 2030
5.1 Veterinary Diagnostics Market: Product Movement Analysis
5.2 Consumables, Reagents & Kits
5.2.1 Consumables, Reagents & Kits market estimates and forecasts, 2017 - 2030 (USD Million)
5.3 Instruments & Devices
5.3.1 Instruments & Devices market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 6 Veterinary Diagnostics Market: Species Estimates and Forecasts to 2030
6.1 Veterinary Diagnostics Market: Species Movement Analysis
6.2 Cattle
6.2.1 Cattle market estimates and forecasts, 2017 - 2030 (USD Million)
6.3 Canine
6.3.1 Canine market estimates and forecasts, 2017 - 2030 (USD Million)
6.4 Feline
6.4.1 Feline market estimates and forecasts, 2017 - 2030 (USD Million)
6.5 Caprine
6.5.1 Caprine market estimates and forecasts, 2017 - 2030 (USD Million)
6.6 Equine
6.6.1 Equine market estimates and forecasts, 2017 - 2030 (USD Million)
6.7 Ovine
6.7.1 Ovine market estimates and forecasts, 2017 - 2030 (USD Million)
6.8 Porcine
6.8.1 Porcine market estimates and forecasts, 2017 - 2030 (USD Million)
6.9 Avian
6.9.1 Avian market estimates and forecasts, 2017 - 2030 (USD Million)
6.10 Others
6.10.1 Other market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 7 Veterinary Diagnostics Market: Testing Type Estimates and Forecasts to 2030
7.1 Veterinary Diagnostics Market: Testing Type Movement Analysis
7.2 Analytical Services
7.2.1 Analytical Services market estimates and forecasts, 2017 - 2030 (USD Million)
7.3 Diagnostic Imaging
7.3.1 Diagnostic Imaging market estimates and forecasts, 2017 - 2030 (USD Million)
7.4 Bacteriology
7.4.1 Bacteriology market estimates and forecasts, 2017 - 2030 (USD Million)
7.5 Pathology
7.5.1 Pathology market estimates and forecasts, 2017 - 2030 (USD Million)
7.6 Molecular Diagnostics
7.6.1 Molecular diagnostics market estimates and forecasts, 2017 - 2030 (USD Million)
7.7 Immunoassays
7.7.1 Immunoassays market estimates and forecasts, 2017 - 2030 (USD Million)
7.8 Parasitology
7.8.1 Parasitology market estimates and forecasts, 2017 - 2030 (USD Million)
7.9 Serology
7.9.1 Serology market estimates and forecasts, 2017 - 2030 (USD Million)
7.10 Virology
7.10.1 Virology market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 8 Veterinary Diagnostics Market: Disease Type Estimates and Forecasts to 2030
8.1 Veterinary Diagnostics Market: Disease Type Movement Analysis
8.2 Infectious Diseases
8.2.1 Infectious Diseases market estimates and forecasts, 2017 - 2030 (USD Million)
8.3 Non-infectious Diseases
8.3.1 Non-Infectious Diseases market estimates and forecasts, 2017 - 2030 (USD Million)
8.4 Hereditary, Congenital and Acquired Diseases
8.4.1 Hereditary, congenital, and acquired diseases market estimates and forecasts, 2017 - 2030 (USD Million)
8.5 General Ailments
8.5.1 General AILMENTS market estimates and forecasts, 2017 - 2030 (USD Million)
8.6 Structural and Functional Diseases
8.6.1 Structural and Functional DiseasesS market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 9 Veterinary Diagnostics Market: End-Use Estimates and Forecasts to 2030
9.1 Veterinary Diagnostics Market: Disease End-Use Movement Analysis
9.2 Laboratories
9.2.1 Laboratories market estimates and forecasts, 2017 - 2030 (USD Million)
9.3 Veterinary Hospitals and Clinics
9.3.1 Veterinary Hospitals and Clinics market estimates and forecasts, 2017 - 2030 (USD Million)
9.4 Point of Care/ In house Testing
9.4.1 Point of Care/ In house Testing market estimates and forecasts, 2017 - 2030 (USD Million)
9.5 Research Institutes and Universities
9.5.1 Research Institutes and Universities market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 10 Veterinary Diagnostics Market: Regional Estimates & Trend Analysis, By, Product, Species, Testing Type, Disease Type and End-Use
Chapter 11 Company Profiles
11.1 Zoetis
11.1.1 Company overview
11.1.2 Financial performance
11.1.3 Product benchmarking
11.1.4 Strategic initiatives
11.2 Heska Corporation
11.2.1 Company overview
11.2.2 Financial performance
11.2.3 Product benchmarking
11.2.4 Strategic initiatives
11.3 IDEXX Laboratories, Inc.
11.3.1 Company overview
11.3.2 Financial performance
11.3.3 Product benchmarking
11.3.4 Strategic initiatives
11.4 Agrolabo S.p.A.
11.4.1 Company overview
11.4.2 Financial performance
11.4.3 Product benchmarking
11.5 IDvet
11.5.1 Company overview
11.5.2 Financial performance
11.5.3 Product benchmarking
11.6 Virbac
11.6.1 Company overview
11.6.2 Financial performance
11.6.3 Product benchmarking
11.6.4 Strategic initiatives
11.7 Thermo Fisher Scientific, Inc.
11.7.1 Company overview
11.7.2 Financial performance
11.7.3 Product benchmarking
11.7.4 Strategic initiatives
11.8 Neogen Corporation
11.8.1 Company overview
11.8.2 Financial performance
11.8.3 Product benchmarking
11.8.4 Strategic initiatives
11.9 Covetrus
11.9.1 Company overview
11.9.2 Financial performance
11.9.3 Product benchmarking
11.9.4 Strategic initiatives
11.10 iM3Vet Pty Ltd.
11.10.1 Company overview
11.10.2 Financial performance
11.10.3 Product benchmarking
For more information about this report visit https://www.researchandmarkets.com/r/4otal6
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