Veterinary Diagnostics Market Share, Size, Trends, Industry Analysis Report, By Product (Consumables, Reagents & Kits, Instruments & Devices); By Species; By Testing Type; By Disease Type; By End-Use; By Region; Segment Forecast, 2023 - 2032

Report Overview
The global veterinary diagnostics market size was valued at USD 6.63 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 11.2% from 2023 to 2032. Increased spending on animal health, an increase in the prevalence of zoonotic diseases and the number of veterinarians, improvements in point-of-care diagnostic technology, and rising levels of disposable income in developing countries are all factors that have contributed to the growth of this market. The demand for veterinary diagnostics is further expected to increase due to the rising prevalence of infectious animal diseases. Additionally, improvements in diagnostics and an increasing adoption of novel procedures in the majority of laboratories are fueling market expansion.

Due to the increase in pet clinic visits and loosening of regulations, the industry did, however, exhibit a V-shaped rebound during the third quarter of 2020. As a result, U.S. clinic visits grew by 6% from the previous quarter in Q4 2020, which is anticipated to fuel market expansion throughout the projection period. The adoption of more pets will help the market expand. For example, after COVID-19, shelters, nonprofit rescues, and private breeders all reported a high level of consumer demand in the United States. Over the forecast period, a strong product pipeline from IDEXX, Zoetis, and Heska Corp. is anticipated to fuel growth. For instance, in order to increase its revenue in veterinary diagnostics, Zoetis acquired Scandinavian Micro Biodevices in August 2020.

Veterinary Diagnostics Industry Segments
According to the purview of this study, veterinary diagnostics perform medical diagnostic tests on animal diagnostic samples to check for infectious pathogens, poisons, and other disease-causing factors. The Veterinary Diagnostics Market is Divided Into Product (Instruments, Kits & Reagents, and Software & Services), Technology (Immunodiagnostics, Molecular Diagnostics, Hematology, and Other Technologies), Animal Type (Companion Animals (Dogs, Cats, and Other Companion Animals), and Livestock Animals (Cattle, Swine, Poultry, and Other Livestock Animals)), Geography, and Animal Type (Com (North America, Europe, Asia-Pacific, Middle East, Africa, and South America). The market research also includes projected market estimates and trends for 17 nations in the world's key geographical regions. For the aforementioned segments, the report provides the value (in USD million).

Veterinary Diagnostics Market Competitor Analysis
The market for veterinary diagnostics is competitive and dispersed. The key market participants are concentrating on better diagnostic methods for animal care, particularly safeguarding animals from diseases brought on by shifting weather patterns. BioMerieux SA, Heska Corporation, Idexx Laboratories, IDVet, Randox Laboratories Ltd., Thermo Fisher Scientific Inc., Virbac Corporation, Zoetis Inc., BIOCHEK BV, INDICAL Bioscience GmbH, Neogen Corporation, and Bio-Rad Inc. are a few businesses that offer veterinary diagnostic services.

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Market Segmentations:
Global Veterinary Diagnostics Market: Major Players
VCA Antech
Zoetis
Woodley Equipment Company
VetAll Laboratories
Veterinary Products Laboratories
BioMérieux
Abaxis
Mindray Medical
Virbac
IDEXX Laboratories
Neogen
Biomed Diagnostics
Heska
Chembio Diagnostic Systems
Thermo Fisher Scientific

Global Veterinary Diagnostics Market: By Types
Clinical Biochemistry
Urinalysis
Immunodiagnostics
Hematology
Molecular Diagnostics

Global Veterinary Diagnostics Market: By Applications
PCR
qPCR
RT-PCR
Multiplex PCR

Global Veterinary Diagnostics Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Veterinary Diagnostics market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Veterinary Diagnostics Market Recent Developments
• In August 2022, PepiPets launched a new mobile diagnostic testing service. Launching this new service in a company release will allow clients to receive diagnostic testing at home for their pets. PepiPets hopes the at-home testing service will help pets feel more comfortable with the procedure and save time on travel to an in-person office visit.
• In March 2022, Companion Animal Health promulgated a strategic agreement, including an equity investment, with HT BioImaging to co-brand and exclusively sell the HTVet product in the US and Canada.

Market Driver
One of the key reasons propelling the global veterinary diagnostics market is the introduction of novel diagnostics techniques. These include complete diagnostic kits for identifying infections or a patient's immunological condition that are provided to veterinarians. In order to quickly and easily identify cancer in dogs, PetDx created OncoK9, one of the first-in-class multi-cancer early detection (MCED) tests.

Value Propositions Related To The Report:
• Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

Impact of COVID-19 on Veterinary Diagnostics Market
The veterinary diagnostics market will be impacted in the coming years as the COVID-19 outbreak continues to have an impact on global markets and there is a spike in the development of veterinary diagnostics products for protecting and animal diagnosis. In numerous nations, the virus has infected a limited number of pet cats and dogs. SARS-CoV-2 infections have been discovered in a small number of animals around the world, primarily in animals that were in close proximity to a COVID-19 patient. Following are a few instances of domestic cats and dogs that have been identified as having the virus in numerous nations, including the United States:
• In June 2020, the United States Department of Agriculture's (USDA) National Veterinary Services Laboratories (NVSL) announced the first confirmed case of SARS-CoV-2 (the virus that causes COVID-19) infection in a pet dog (German shepherd) in New York state. This is the first dog in the United States to test positive for SARS-CoV-2.
• In April 2020, the U.S. Centers for Disease Control and Prevention (CDC) and the United States Department of Agriculture's (USDA) National Veterinary Services Laboratories (NVSL) announced confirmed cases of SARS-CoV-2 (the virus that causes COVID-19) infection in two pet cats which got infected as their owner had tested positive for COVID -19

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Frequently Asked Questions About This Report
• What is the veterinary diagnostics market growth?
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• Who are the key players in the veterinary diagnostics market?
• What are the factors driving the veterinary diagnostics market?
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