Veterinary Diagnostics Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by technology (immunodiagnostics, clinical biochemistry, molecular diagnostics, hematology, urinalysis, and other technologies), animal type, and geography.

Market Snapshot

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Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

8.5%

Key Players:

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Market Overview

The veterinary diagnostics are tests, which help in determining and detecting various disorders associated with animals. The diagnostic tests are performed by taking the blood, feces, and tissue samples, of animals. The increased pet ownerships with improving urban lifestyle and many shifting from towns to urban localities across developed and emerging markets drive the demand for veterinary healthcare as well as its diagnostics. Also, the rise in zoonotic and foodborne diseases, have increased the responsibility of owners and animal healthcare organizations to invest more in their healthcare. Apart from that, there are many private insurance companies in developed markets which are attracting owners and companies driving the market of vertinary diagnostics. However, increased pet care costs and substandard veterinary healthcare facilities acts as among the major restriants for the veterinary diagnostics market.

Scope of the Report

With the growing importance given to pet care and agriculture importance through farm animals, the veterinary diagnostics is becoming a more important subject in the present era. The scope of this report, thus, covers the market segmentation by veterinary diagnostic tests, and animal type in both companion and farm animals.

By Technology
Immunodiagnostics
Clinical Biochemistry
Molecular Diagnostics
Hematology
Urinalysis
Other Technologies
By Animal Type
Companion Animals
Dogs
Cats
Horses
Other Companion Animals
Livestock Animals
Cattle
Pigs
Poultry
Other Livestock Animals
Geography
North America
United States
Canada
Mexico
Europe
France
Germany
United Kingdom
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Molecular Diagnostics are Estimated to Grow Fastest by Technology, Over the Forecast Period

Growing importance is now been given to rapid tests, which helps in providing results within 24 hours or during the initial examination period of an animal. Molecular diagnostics are therefore very powerful diagnostic tools for both farm animals and pets to protects the animals from infectious diseases such as influenza. There are certain programs/initiatives run by veterinary healthcare companies to improve upon animal disease control, thus, enhancing their biotechnology scope. The studies involve manipulation of DNA through facilities to improve upon protein sequencing of the target and recombinant DNA technologies. Thus, molecular diagnostics are increasingly playing an important role in veterinary diagnostics, thus, estimated to grow fastest over the forecast period.

Vetrianry Diagnostics market _Image2

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North America is Estimated to Have Largest Share in the Global Market

The United States and Canada have a growing number of people adopting pets and several facilities provide proper pet care services in major cities of these countries. With increasing urban nature of the societies and more investments towards animal as protection of their household as well as improving upon human-animal relationship, drives the market of veterinary diagnostics in this region. Also, the steady importance given to agricultural contribution to these countries makes the owner more responsible for better care of farm animals. The healthcare expenditure compared to other countries, also fuels the market growth in North America. Thus, it should hold a major share of the market, over the forecast period.

Vetrianry Diagnostics market _Image3

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Competitive Landscape

The major market players are focusing on imporved diagnostics techniques for animal care, specially protecting the aniamls from diseases from changing weather conditions. Some of the major players in the market are Abaxis Inc, Biomérieux SA, Idexx Laboratories, Virbac and Zoetis, Inc, among others.

Major Players

  1. Abaxis Inc
  2. Biomérieux SA
  3. Idexx Laboratories
  4. Virbac
  5. Zoetis, Inc

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growth in Population of Companion Animals and Their Owners

      2. 4.2.2 Increased Burden of Animal Zonotic Diseases

      3. 4.2.3 Growing Pet Insurance and Animal Health Investments by Pharmaceutical Companies

    3. 4.3 Market Restraints

      1. 4.3.1 Increased Pet Care Costs

      2. 4.3.2 Substandard Healthcare Facilities in Low and Middle Income Countries

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Technology

      1. 5.1.1 Immunodiagnostics

      2. 5.1.2 Clinical Biochemistry

      3. 5.1.3 Molecular Diagnostics

      4. 5.1.4 Hematology

      5. 5.1.5 Urinalysis

      6. 5.1.6 Other Technologies

    2. 5.2 By Animal Type

      1. 5.2.1 Companion Animals

        1. 5.2.1.1 Dogs

        2. 5.2.1.2 Cats

        3. 5.2.1.3 Horses

        4. 5.2.1.4 Other Companion Animals

      2. 5.2.2 Livestock Animals

        1. 5.2.2.1 Cattle

        2. 5.2.2.2 Pigs

        3. 5.2.2.3 Poultry

        4. 5.2.2.4 Other Livestock Animals

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 France

        2. 5.3.2.2 Germany

        3. 5.3.2.3 United Kingdom

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abaxis, Inc

      2. 6.1.2 Biomerieux SA

      3. 6.1.3 Heska Corporation

      4. 6.1.4 Idexx Laboratories

      5. 6.1.5 IDVet

      6. 6.1.6 Qiagen N.V.

      7. 6.1.7 Randox Laboratories, Ltd

      8. 6.1.8 Thermo Fisher Scientific

      9. 6.1.9 Virbac

      10. 6.1.10 Zoetis, Inc

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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