Veterinary Diagnostic

Veterinary Diagnostic Market by Product (Consumables, Reagents & Kits, Instruments & Devices, Software & Services), Animal Type (Companion Animals, Livestock Animals), Testing Category, Disease Type, End-Use - Global Forecast 2024-2030

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[197 Pages Report] The Veterinary Diagnostic Market size was estimated at USD 5.48 billion in 2023 and expected to reach USD 6.24 billion in 2024, at a CAGR 15.24% to reach USD 14.80 billion by 2030.

Veterinary Diagnostic Market
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Veterinary diagnostics refers to the various methods, techniques, and tools employed to identify and diagnose animal diseases, infections, or health conditions. These diagnostics play a crucial role in veterinary medicine by helping veterinarians and other animal health professionals make informed decisions about the care and treatment of animals. Veterinary diagnostics encompass various methods, including laboratory tests, imaging techniques, and clinical examinations. The increase in pet ownership, enhanced awareness about animal health, and growing expenditure on animal healthcare are collectively pushing the market forward. There are also regulatory mandates regarding food safety that directly impact the growth of the veterinary diagnostics market. The high cost of animal testing, a shortage of professional expertise in veterinary pathology, unclear reimbursement scenarios, and limited awareness in developing countries hamper its market demand. The lack of standardized tests and stringent regulatory procedures pose significant challenges for the stakeholders of the veterinary diagnostic market. The considerable demand for rapid diagnostics over laboratory-based tests, increasing prospects in untapped emerging markets, point-of-care services, and the rising need for disease control in livestock are expected to create an opportunity in the market.

Regional Insights

The veterinary diagnostic market in the Americas shows robust growth driven by advanced substantial pet ownership and livestock industry, adopting innovative diagnostic solutions swiftly. Progressive farm management practices, increasing pet adoption, and supportive government regulations further fueled the market demand in the region. The EMEA represents a dynamic diversity in the veterinary diagnostics space due to prolific regulatory structures and the adoption of preventive veterinary care; the growing awareness of zoonotic diseases and improved accessibility of advanced veterinary services contribute to this upward trend. Asia-Pacific presents a significant opportunity for the veterinary diagnostic market. The region is marked by rapid urbanization, rising disposable incomes, and a shift in lifestyle, which have all led to increased pet ownership and demand for quality animal healthcare. The livestock industry is pivotal in countries requiring efficient disease prevention and control diagnostic measures. The adoption of rapid tests and portable instruments is significantly notable, driving market growth in this region.

Market Dynamics

The market dynamics represent an ever-changing landscape of the Veterinary Diagnostic Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • Rise in pet ownership and enhanced awareness about animal health
    • Increasing incidence of animal diseases in economies
    • Surge in animal healthcare expenditure coupled with rising disposable income
  • Market Restraints
    • High cost associated with veterinary diagnostic testing
  • Market Opportunities
    • Introduction of pet insurance and advanced development of new diagnostic assay
    • Emerging use of in vitro diagnostic tests and the rising number of veterinary laboratories
  • Market Challenges
    • Lack of standardized tests and dearth of veterinarians in economies
Market Segmentation Analysis
  • Product: Consumables, reagents, and kits providing accuracy and speed in diagnosis

    Consumables, reagents, and kits are indispensable in the veterinary diagnostics market. These products are primarily used for sample preparation & testing, offering precise and accurate results for various veterinary conditions. Demand largely hinges on the frequency of diagnostic procedures, with higher case volumes leading to increased need. Instruments and devices form the bedrock of diagnostics, providing the tools veterinarians need to assess and diagnose conditions effectively. This segment includes many products, from basic surgical instruments to complex imaging devices. Software & services represent a rapidly growing segment in veterinary diagnostics, encompassing practice management software, diagnostic services, and telemedicine services. These products are vital in managing clinic workflows and enhancing patient care.

  • Animal Type: Significant adoption of veterinary diagnostics for livestock animals health management

    Using veterinary diagnostics for companion animals, such as cats and dogs, is integral to maintaining their health, preventing diseases, and diagnosing conditions early. Owners demonstrate the highest preference for non-invasive and less stressful diagnostic methods for their pets. These services suit the specific needs of dogs, cats, and other pets in a household setup. The usage of veterinary diagnostics in cats and dogs is comprehensive, covering a wide range of areas to ensure comprehensive healthcare. These diagnostics help veterinarians tailor treatment plans, offer preventive care, and improve the quality of life for companion animals. Veterinary diagnostics are crucial in livestock animals' health management and disease control, including cattle, poultry, and swine. These diagnostics help farmers and veterinarians monitor the health status of herds, detect diseases early, and implement appropriate interventions.

  • Disease Type: Veterinary vaccines are primarily utilized to reduce the risk of infectious diseases in animals

    General ailments, such as gastroenteritis, parasites, and respiratory disorders, constitute common illnesses that affect animals regularly. Veterinary diagnostics for general ailments are essential and in high demand due to their frequency and the need for prompt treatment. Hereditary, congenital & acquired diseases are inherited, present at birth, or obtained during the animal's lifetime. Diagnostic procedures for these diseases often need advanced equipment and molecular diagnostic tests. Veterinary diagnostics are essential for detecting, monitoring, and controlling animal infectious diseases. These diagnostic tools are crucial in identifying pathogens, assessing the extent of infections, and implementing appropriate disease management strategies. Non-infectious diseases include conditions such as cancer, diabetes, and heart disease. Veterinary diagnostics of non-infectious illnesses are crucial for identifying underlying health issues, developing treatment plans, and improving animals' overall quality of life. Veterinary diagnostics are essential for identifying and managing structural and functional animal diseases. Structural diseases involve abnormalities in the anatomy or physical structure of organs and tissues, while functional disorders involve disruptions in the normal functioning of physiological processes.

  • End-Use: Potential utilization of veterinary diagnostic in veterinary hospitals & clinics

    Point-of-care or in-house testing (POCT) is a crucial part of modern veterinary practices, aiming to deliver rapid, accurate results within the comfort of the patient's home or veterinary clinic, minimizing the stress for both the pet and the owner. The need-based preference for POCT in the veterinary diagnostic field is driven by its advantages, such as speed, precision, and convenience. Beyond offering rapid diagnostics for efficient treatment, POCT systems can also aid the veterinarian in monitoring vital biochemistry parameters during surgical or critical cases. Research centers and universities contribute significantly to the progress of veterinary diagnostics by investing in cutting-edge, research-oriented technologies. Their preference reflects a need for advanced diagnostic tools to diagnose emerging and re-emerging zoonotic diseases in various animal species. Veterinary hospitals and clinics represent a vital end-use segment for veterinary diagnostics. The specific needs of these settings prioritize reliable, cost-effective, and efficient diagnostic tools capable of handling high caseloads. Veterinary reference laboratories are essential in disease surveillance, diagnosis, and control. These laboratories often handle complex and rare cases, demanding a broader range and higher complexity of diagnostics.

Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Veterinary Diagnostic Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Veterinary Diagnostic Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Veterinary Diagnostic Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Veterinary Diagnostic Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Veterinary Diagnostic Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Veterinary Diagnostic Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Veterinary Diagnostic Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Veterinary Diagnostic Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Veterinary Diagnostic Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Veterinary Diagnostic Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Veterinary Diagnostic Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Veterinary Diagnostic Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Royal Canin Collaborated with GekkoVet to Bring AI-Powered Solution For Vets

    Royal Canin has collaborated with GekkoVet to provide digital solutions and acknowledge veterans in emerging markets. The collaboration will focus on developing and delivering digital solutions to help veterinaries diagnose and treat diseases and manage patients. [Published On: 2023-11-02]

  • IDEXX Announces Novel Diagnostic Test for Kidney Injury, Expanding the Veterinary Industry's Most Comprehensive Renal Testing Portfolio

    IDEXX Laboratories, Inc. launched the first veterinary diagnostic test, IDEXX Cystatin B, for detecting kidney injury in cats and dogs. The IDEXX Cystatin B Test is included in test panels assessing renal health, uncovering new clinical insights for an estimated two million patient visits annually. [Published On: 2023-06-15]

  • Mars to Acquire Heska, Global Provider of Advanced Veterinary Diagnostic and Specialty Solutions

    Mars, Incorporated acquired Heska Corporation, under which Heska joined Mars Petcare business serving pets and pet owners through products and services within veterinary health and diagnostics, nutrition, innovation, and technology. This acquisition enabled Mars Petcare's Science & Diagnostics division to expand its diagnostic offerings and broadly promote point-of-care veterinary diagnostics to the global pet healthcare community. [Published On: 2022-03-03]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Veterinary Diagnostic Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Veterinary Diagnostic Market, highlighting leading vendors and their innovative profiles. These include Agrolabo S.p.A., Bio-Rad Laboratories, Inc., Biogal Galed Labs, BioMérieux S.A., BioNote, Inc., Demeditec Diagnostics GmbH, Eurofins Technologies, Fassisi GmbH, FUJIFILM Holdings Corporation, Heska Corporation, IDEXX Laboratories, Inc., IDvet, Late Dr. (Major) S.K., Neogen Corporation, Nisseiken Co., Ltd, Qiagen N.V., Randox Laboratories, Ltd., Shenzhen Bioeasy Biotechnology Co., Ltd., Shenzhen Mindray Animal Medical Technology Co., Ltd., SKYER, Inc., Skyla Corporation, Thermo Fisher Scientific Inc., Vimian Group AB, Virbac S.A., and Zoetis Inc..

Veterinary Diagnostic Market - Global Forecast 2024-2030
To learn more about this report, request a free PDF copy
Market Segmentation & Coverage

This research report categorizes the Veterinary Diagnostic Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Product
    • Consumables, Reagents & Kits
    • Instruments & Devices
    • Software & Services
  • Animal Type
    • Companion Animals
      • Cats
      • Dogs
    • Livestock Animals
      • Cattle
      • Poultry
      • Swine
  • Testing Category
    • Analytical Services
    • Bacteriology
    • Diagnostic Imaging
    • Immunoassays
    • Molecular Diagnostics
    • Parasitology
    • Pathology
    • Serology
    • Virology
  • Disease Type
    • General Ailments
    • Hereditary, Congenital & Acquired Diseases
    • Infectious Diseases
    • Non-Infectious Diseases
    • Structural & Functional Diseases
  • End-Use
    • Point-of-Care/In-House Testing
    • Research Centers & Universities
    • Veterinary Hospitals & Clinics
    • Veterinary Reference Laboratories

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

This research report offers invaluable insights into various crucial aspects of the Veterinary Diagnostic Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Veterinary Diagnostic Market, by Product
  7. Veterinary Diagnostic Market, by Animal Type
  8. Veterinary Diagnostic Market, by Testing Category
  9. Veterinary Diagnostic Market, by Disease Type
  10. Veterinary Diagnostic Market, by End-Use
  11. Americas Veterinary Diagnostic Market
  12. Asia-Pacific Veterinary Diagnostic Market
  13. Europe, Middle East & Africa Veterinary Diagnostic Market
  14. Competitive Landscape
  15. Competitive Portfolio
  16. List of Figures [Total: 26]
  17. List of Tables [Total: 660]
  18. List of Companies Mentioned [Total: 25]
Veterinary diagnostics proving to be a boon for ensuring optimum animal health
May 4, 2023
INSIGHT
Veterinary diagnostics proving to be a boon for ensuring optimum animal health
Veterinary health has taken a front seat as a global agenda with government investments with veterinary diagnostics becoming a cornerstone in tackling the spread of several infectious agents and pathogens.

Animal health is the backbone of thriving, expanding communities. Modern vaccines, antibiotics and treatments, and access to veterinarians are becoming a necessity in achieving optimum animal health.

Regular occurrences of classical swine fever (CSF), foot-and-mouth disease (FMD), and African swine fever (ASF) are pushing the governments for very strong preparedness, including prompt and powerful diagnosis of animal diseases.

Funding projects that magnify vaccine distribution and development projects of point-of-care diagnostic tests are currently underway in many countries. In December 2021, the U.S. Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) awarded approximately USD 16.3 million to 64 projects to ensure animal health and keep foreign animal diseases out of the country.

Recently, in October 2022, the Kansas State Veterinary Diagnostic Laboratory developed a unique polymerase chain reaction test for the endemic disease anaplasmosis and the imminent disease Theileriosis. This test can allow veterinarians and cattle producers to screen their herds for these specific disease-causing organisms.

While classical diagnostic methods remain technically unaltered, the advent of novel tests and diagnostic techniques with strong government backing intensifies the rapid detection of causative agents shielding animal disease control and surveillance.

Emerging Technologies in Veterinary Diagnostic: The Future of In Vitro Tests
December 3, 2023
BLOG
Emerging Technologies in Veterinary Diagnostic: The Future of In Vitro Tests
Veterinary diagnostic has come a long way since manual exams and guesswork. Today, with the help of various diagnostic tests and advanced technologies, veterinarians can diagnose diseases and deliver tailored treatments. One of the latest trends in veterinary diagnostics is in vitro technologies, including nanotechnology and biosensors, which provide faster results, improved accuracy, and cost-effective solutions. This blog post discusses the emerging technologies in veterinary diagnostic and how they are changing the face of animal care.

Advancements in In Vitro Diagnostic Test:

In vitro diagnostic (IVD) tests are diagnostic tests that utilize specimens, such as blood or urine, to detect a disease or infection outside the body. IVD tests have been a game-changer in veterinary diagnostic in the past decade.

Nanotechnology: A New Frontier

Nanotechnology is a rapidly evolving field that holds great promise in veterinary diagnostic. Nanotechnology deals with the manipulation and engineering of materials at the nanoscale level. This technology has the potential to revolutionize animal healthcare by developing new diagnostic tools that can detect diseases at an early stage, deliver drugs directly to target cells, and enhance the efficacy of existing treatments.

Biosensors: The Future of Diagnostics

Another emerging technology in veterinary diagnostics is biosensors, devices, or systems that can detect and measure biological reactions or changes. Biosensors can detect a broad range of analytes, such as proteins, enzymes, viruses, and bacteria, in real-time, with high sensitivity and specificity. Biosensors in veterinary diagnostic can be used for various purposes, such as monitoring livestock health, detecting drug residues in food products, and detecting diseases in companion animals early.

Implications of Emerging Technologies:

Using emerging technologies in veterinary diagnostic has far-reaching implications for the animal healthcare industry. Advanced diagnostic tools can lead to cost savings, improved animal health outcomes, and better public health protection against zoonotic diseases. Additionally, early detection of diseases can reduce the need for costly treatments, prevent the spread of diseases, and minimize the risk of transmission from animals to humans. Nevertheless, the uptake of these technologies requires adequate investment in research and development, training of veterinary professionals, and regulatory guidance.

Future Outlook:

The emerging technologies in veterinary diagnostic, such as in vitro tests, nanotechnology, and biosensors, offer new opportunities for veterinarians to diagnose diseases accurately, quickly, and inexpensively. These technologies are still in their infancy, but their potential to enhance animal health and well-being is vast. The animal healthcare industry is poised to achieve great strides in disease diagnosis, prevention, and treatment with the continued development of new diagnostic tools and technologies.

The veterinary diagnostic landscape is evolving thanks to the advancements in in vitro diagnostic tests, nanotechnology, and biosensors. Veterinarians and animal healthcare professionals now have various diagnostic tools at their disposal that provide faster results, improved accuracy, and cost-effective solutions. These technologies can potentially transform the way animal care is delivered, enabling early detection of diseases and targeted treatments. The future of veterinary diagnostics is indeed bright. With continued investment in research and development, we can expect more innovations that will help improve the health and well-being of animals globally.

Frequently Asked Questions
  1. How big is the Veterinary Diagnostic Market?
    Ans. The Global Veterinary Diagnostic Market size was estimated at USD 5.48 billion in 2023 and expected to reach USD 6.24 billion in 2024.
  2. What is the Veterinary Diagnostic Market growth?
    Ans. The Global Veterinary Diagnostic Market to grow USD 14.80 billion by 2030, at a CAGR of 15.24%
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