Veterinary Diagnostics Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMVH251 | Last Updated On: Jul 19 2022 | Available Formats

> Global Veterinary Diagnostics Market Expected to reach a high CAGR By 2029: DataM Intelligence

Global Veterinary Diagnostics Market is segmented By Product Type (Analyzers, Consumables), By Technology (ELISA, Radioimmunoassay, Rapid Test, Others), By Animal Type (LiveStock (Cattle, Pigs, Poultry, Others), Companion (Feline, Canine, Equine, Others)), By Application (Infectious Disease, Autoimmune Disorder, Endocrinology& Oncology, Bone and Mineral Diseases, Others), By End User (Reference Laboratories, Academic and Research Institutes, Veterinary Hospitals & Clinics, Point of care/ In-house testing), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global Veterinary Diagnostics market is expected to grow with a CAGR during the forecast period (2022-2029).

Market Growth

  • The Veterinary Diagnostic is the medical testing for infectious agents, toxins, and other causes of disease in animals. The market is impacted by several factors. Increase in pet adoption in both developed and developing countries is one the primary driving factor for Veterinary Diagnostics Market.

What are the critical application segments of Veterinary Diagnostics Market?

Increasing Pet Ownership:

  • Growing Awareness towards animal health has led to an increase in demand for advanced veterinary diagnostic technologies.
  • According to a household survey, held between 1996 and 2012 spending on pet health care rose faster by over 60% compared to 49%. Globally, 57% of consumers own pets (according to more than 27,000 online consumers whom GfK surveyed in 22 countries).
  • It is estimated that the total American pet industry expenditure for 2017 will reach 70 billion, up from 67 billion in 2016. Supplies, over the counter medicine, and vet care accounted for just over 30 billion of 2016.
  • Part of the reason behind the increased spending on pet care is the rise in the number of households that have a pet. The name has risen steadily to the point that 62% of American families now own at least one pet.
  • US Pet Expenditure continues to rise from 2004-2015 as an increase in pet adoptions. Overall support for shelters and animal welfare organizations has grown over the last few years and will continue to gain momentum throughout 2014.
  • According to Bob Vetere, president, and CEO of the American Pet Product Association, Americans spent a record 15.4 billion on vet services last year, up from 8.6 billion in 2005.
  • Globally, a rise in pet adoption rates is profoundly influencing the growth of veterinary diagnostics due to the humanization of pets.

The scope of this report

The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles. Veterinary Diagnostics Market is segmented based on Product Types such as Analyzers and Consumables. Further, the market is segmented by Animal Types such as Livestock and Companion. By Technology, it is classified as Enzyme-Linked Immunosorbent Assay (ELISA), Radioimmunoassay, Rapid Test, and Others. Based on Applications, the market is segmented as Infectious Disease, Autoimmune Disorder, Endocrinology& Oncology, Bone and Mineral Diseases, and Others. By End User, it is segmented such as Reference Laboratories, Academic and Research Institutes, Veterinary Hospitals & Clinics, and Point of care/ In-house testing. The report segments the geographies by regions, which include North America, South America, Europe, Asia Pacific, and RoW.

The report profiles the following companies, which includes Pfizer, Thermo Fisher Scientific, Henry Schein, Virbac, Zoetis, IDVet, Abaxis, Heska Corporation, IdeYY, Biochem, and VCA Antech.

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