The Worldwide Veterinary Diagnostics Industry is Expected to Reach $6.3 Billion by 2029

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Dublin, June 30, 2022 (GLOBE NEWSWIRE) -- The "Veterinary Diagnostics Market by Product, Technology, Animal Type, End User - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

The global veterinary diagnostics market is expected to grow at a CAGR of 9.3% from 2022 to 2029 to reach $6.37 billion by 2029.

Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out the key industry drivers, restraints, challenges, and opportunities.

The growth in the veterinary diagnostics market is mainly attributed to the increasing burden of zoonotic and foodborne diseases, rising demand for livestock-derived food products, favorable government initiatives, increasing animal health expenditure, and technological advancements in veterinary diagnostics. Moreover, emerging countries provide increasing growth opportunities for players operating in the veterinary diagnostics market.

Based on product, the consumables segment is estimated to account for the largest share of this market in 2022. This segment is further segmented by disease type. In 2022, the heartworm disease segment is estimated to account for the largest share of the veterinary diagnostic consumables market. The potential risk of transmission of the disease in humans and the increase in pet adoption globally are primarily propelling the segment's growth.

Based on technology, the immunodiagnostics segment is estimated to account for the largest share of the veterinary diagnostics market in 2022. Increasing use of immunoassays in diagnostics, development of novel tests, and reduced complications associated with the instruments are some factors driving the growth of this segment. The immunodiagnostics market is further segmented into ELISA tests and other immunodiagnostic tests. In 2022, the ELISA tests segment is estimated to account for the largest share of the veterinary immunodiagnostics market.

Based on animal type, the companion animals segment is expected to grow at the highest CAGR during the forecast period. Increasing companion animal population & pet ownerships in developed countries and rising pet healthcare expenditure are expected to propel the growth of this segment.

Veterinary diagnostic products are frequently used in reference laboratories for early disease diagnosis and treatment decisions. Therefore, the reference laboratories segment is estimated to dominate the veterinary diagnostics market with the largest share in 2022. Moreover, the growing preference for diagnostic services offered by reference laboratories and the increasing development of products through strategic alliances between laboratories and companies contributed to the largest share of reference laboratories in this market.

An in-depth analysis of the geographical scenario of the veterinary diagnostics market provides detailed qualitative and quantitative insights into the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. North America is estimated to account for the largest share of the veterinary diagnostics market in 2022, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Some of the key players operating in the global veterinary diagnostics market are IDEXX Laboratories, Inc. (U.S.), Zoetis Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Heska Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), bioMerieux S.A. (France), INDICAL BIOSCIENCE GmbH (Germany), Agrolabo SpA (Italy), Neogen Corporation (U.S.), IDvet (France), and GD Animal Health (Netherlands).

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Insights
4.1. Market Overview
4.2. Drivers
4.2.1. Rising Demand for Animal-derived Food Products
4.2.2. Increasing Prevalence of Foodborne and Zoonotic Diseases
4.2.3. Favorable Government Initiatives
4.2.4. Advancements in Veterinary Diagnostic Methods
4.2.5. Increasing Animal Health Expenditure & Pet Insurance in Developed Countries
4.3. Restraints
4.3.1. Increasing Pet Care Costs in the U.S.
4.4. Opportunities
4.4.1. Emerging Markets
4.5. Challenges
4.5.1. Dearth of Veterinary Practitioners for Livestock
4.6. Impact Assessment of COVID-19 Pandemic

5. Veterinary Diagnostics Market, by Product
5.1. Introduction
5.2. Consumables
5.2.1. Heartworm Disease
5.2.2. Leukemia
5.2.3. Bovine Viral Diarrhoea
5.2.4. Influenza
5.2.4.1. Avian Influenza
5.2.4.2. Swine Influenza
5.2.4.3. Other Influenze
5.2.5. Foot And Mouth Disease (FMD)
5.2.6. Bluetongue (BTV)
5.2.7. Bovine Tuberculosis (Btb)
5.2.8. Bovine Herpes Virus (BHV)
5.2.9. Newcastle Disease
5.2.10. Avian Mycoplasma
5.2.11. Other Diseases
5.3. Systems
5.4. Software

6. Veterinary Diagnostics Market, by Technology
6.1. Introduction
6.2. Immunodiagnostics
6.2.1. Enzyme-linked Immunosorbent Assay (ELISA)
6.2.2. Lateral Flow Assays
6.2.3. Other Immunodiagnostic Technologies
6.3. Molecular Diagnostics
6.3.1. Polymerase Chain Reaction (PCR)
6.3.2. Other Molecular Diagnostic Technologies
6.4. Clinical Biochemistry
6.4.1. Clinical Chemistry Analysis
6.4.2. Blood Gas & Electrolyte Analysis
6.4.3. Blood Glucose Monitoring
6.5. Hematology
6.6. Urinalysis
6.7. Other Technologies

7. Veterinary Diagnostics Market, by Animal Type
7.1. Introduction
7.2. Companion Animals
7.2.1. Canine
7.2.2. Feline
7.2.3. Other Companion Animals
7.3. Livestock Animals
7.3.1. Ruminants
7.3.1.1. Bovine Animals
7.3.1.2. Other Ruminants
7.3.4. Swine
7.3.5. Poultry
7.4. Other Livestock Animals

8. Veterinary Diagnostics Market, by End User
8.1. Introduction
8.2. Reference Laboratories
8.3. Veterinary Hospitals & Clinics
8.4. PoC Testing

9. Veterinary Diagnostics Market, by Geography
9.1. Introduction
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.3.6. Rest of Europe (RoE)
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.4.4. Rest of Asia-Pacific (RoAPAC)
9.5. Latin America
9.6. Middle East & Africa

10. Competitive Landscape
10.1. Introduction
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Market Share Analysis (2021)
10.5. Top 30 Veterinary Diagnostic Consumables/Kits and Reagents Sales Assessment, by Animal Type and Region
10.5.1. North America
10.5.2. Europe
10.5.3. Asia-Pacific
10.5.4. Latin America

11. Company Profiles
11.1. IDEXX Laboratories, Inc.
11.2. Thermo Fisher Scientific Inc.
11.3. biomerieux S.A.
11.4. Zoetis Inc.
11.5. Bio-Rad Laboratories, Inc.
11.6. Indical Bioscience GmbH
11.7. Agrolabo SpA
11.8. Neogen Corporation
11.9. Idvet
11.10. GD Animal Health
11.11. Heska Corporation

12. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/c9kui5

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