Veterinary Infectious Disease Diagnostics Market at a CAGR of 9.0%, IDEXX Laboratories, Inc. (US), Zoetis, Inc. (US), Thermo Fisher Scientific, Inc. (US), Virbac (France)

Veterinary Infectious Disease Diagnostics Market research analysis and data lend a hand to businesses in the planning of production, product launches, costing, inventory, purchasing, and marketing strategies. The company profiles of all the chief and dominating market players and brands who are taking steps such as product launches, joint ventures, mergers, and acquisitions are mentioned in the report. The Veterinary Infectious Disease Diagnostics Market report includes a systematic investigation of the current scenario of the market, which covers several market dynamics. The Veterinary Infectious Disease Diagnostics Market report provides the supreme base for the competitor analysis, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.

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The veterinary infectious disease diagnostics market is expected to reach USD 2.6 billion by 2026 from an estimated USD 1.7 billion in 2021, at a CAGR of 9.0%.

Key players in the veterinary infectious disease diagnostics market

The key players in the veterinary diagnostics market include IDEXX Laboratories, Inc. (US), Zoetis, Inc. (US), Thermo Fisher Scientific, Inc. (US), Virbac (France), bioMérieux SA (France), Heska Corporation (US), IDvet (France), NEOGEN Corporation (US), QIAGEN N.V. (a part of INDICAL Bioscience) (Europe), Randox Laboratories Ltd. (UK), Agrolabo S.p.A. (Italy), Bio-Rad Laboratories (US), Bionote, Inc. (South Korea), Biogal Galed Labs (Israel), BioChek (Netherlands), (UK), Biopanda Reagents (UK), URIT Medical Electronic Co. Ltd. (China), MEGACOR Diagnostik GmbH (Austria), LIVET (UK), INDICAL BIOSCIENCE GmbH (Germany), Fassisi GmbH (Germany), Alvedia (France), SKYER, Inc. (South Korea), Shenzhen Bioeasy Biotechnology Co., Ltd. (China), and Precision Biosensor (US).

The major factors driving the growth of the veterinary infectious disease diagnostics include the growing demand for rapid tests, rising technological advancements, growth in companion animal population, rising demand for pet insurance, increasing incidence of transboundary and zoonotic diseases, rising number of veterinary practitioners in developed economies, increasing disease control & disease prevention measures, and growing animal health expenditure. With the growing consumption of animal-derived food products, there is a rising need for the effective diagnosis and treatment of diseases in animals to ensure the quality of animal-derived food products. The rising need for animal-derived food products will further increase the chances for infections, thereby driving the growth of this market in the coming years. However, high pet care costs directly impact the number of visits by pet owners to veterinary facilities, thereby restraining the growth of this market and the lack of reimbursement for veterinary procedures is another factor limiting the uptake of veterinary infectious disease diagnostics. The lack of skilled veterinarians and diagnostics infrastructure, especially in developing countries, is one of the major challenges limiting the uptake of advanced diagnostic solutions among veterinarians.

Since the initial outbreak of COVID-19, multiple countries have reported infections of SARS-CoV-2 in mammals. Due to an increase in the prevalence of COVID-19 across the globe, testing volumes on humans and animals continue to rise. This has also prompted players and reference laboratories to develop new and improved animal tests. At the height of the pandemic, many countries stipulated that only urgent or emergency procedures necessary for the veterinary healthcare of companion animals could take place. However, COVID-19 pandemic is expected to have a minimal impact on the veterinary infectious disease diagnostics market during the forecast period as after few months, number of vet visits were increased and there was no delay in routine care.

Immunodiagnostics segment occupies the largest share in the global veterinary infectious disease diagnostics market in the forecasted period

Based on technology, the global veterinary infectious disease diagnostics market is segmented into Immunodiagnostics, Molecular Diagnostics, and Other Technologies. The higher preference for this technology by veterinarians, pet owners, and livestock producers contributes to the large share of the immunodiagnostics segment. The growing demand for early & accurate diagnosis; increasing preference for in-house testing; and the increasing applications of immunodiagnostics are supporting the growth of this application segment.

The companion animal segment dominated the global veterinary infectious disease diagnostics market in 2020

Based on the animal type, the global veterinary infectious disease diagnostics market is segmented into companion animal and food-producing animals. In 2020, the companion animals segment accounted for the largest share of the global veterinary infectious disease diagnostics market. The growth in this segment is attributed to the increasing pet ownership (especially in developed countries), rising penetration of pet insurance, a growing number of veterinary practitioners globally, and increasing animal disease control and disease prevention measures.

Veterinary reference laboratories are the major end users in the veterinary infectious disease diagnostics market

Based on end users, the global veterinary infectious disease diagnostics market is segmented into veterinary reference laboratories, veterinary hospitals and clinics, point-of-care testing/in-house testing, and veterinary research institutes and universities. In 2020, veterinary reference laboratories were the major end users in the veterinary infectious disease diagnostics market. The large share of this segment can primarily be attributed to the growing number of veterinarians, the increasing number of veterinary practices, and the rising number of samples received for diagnostics in reference laboratories from small and large animal practices. Rising awareness among pet owners regarding routine and preventive care is further expected to propel market growth.

North America accounts for the largest share in the global veterinary infectious disease diagnostics market in the forecasted period

North America accounted for the largest share of the global veterinary infectious disease diagnostics market during the forecast period. The growth in the veterinary infectious disease diagnostics market of North America is characterized by the increasing population of companion and food-producing animals, rising meat and dairy product consumption, the availability of technologically advanced veterinary reference laboratories, rising veterinary healthcare expenditure, and growth in pet insurance coverage.

The break of primary participants was as mentioned below:

By Company Type - Tier 1-60%, Tier 2-30%, and Tier 3-10%
By Designation - C-level-30%, Director-level-50%, Others-20%
By Region - North America-45%, Europe-15%, Asia Pacific-25%, Latin America- 10%, Middle East and Africa-5%

Research Coverage:

The report analyzes the veterinary infectious disease diagnostics market and aims at estimating the market size and future growth potential of this market based on various segments such as technology, animal type, end user, and region. The report also includes a product portfolio matrix of various veterinary infectious disease diagnostics products available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.

This report provides insights into the following pointers:

Market Penetration: Comprehensive information on product portfolios offered by the top players in the global veterinary infectious disease diagnostics market. The report analyzes this market by technology, animal type, and end-user.

Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global veterinary infectious disease diagnostics market.

Market Development: Comprehensive information on the lucrative emerging markets by technology, animal type, and end-user.

Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global veterinary infectious disease diagnostics market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global veterinary infectious disease diagnostics market.

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