Veterinary Biomarkers Market Share & Size Growing at a CAGR 12.3% - Exclusive Report by Polaris Markets Research 2023-2032

According to the research report, the global veterinary biomarkers market was valued at USD 799.45 million in 2022 and is expected to reach USD 2,554.79 million by 2032, to grow at a CAGR of 12.3% during the forecast period.

Polaris Market Research has recently published its latest analysis on Veterinary Biomarkers Market: By Size, Trends, Share, Growth, Segments, Industry Analysis and Forecast, 2032. The study has been meticulously prepared to provide readers with comprehensive market intelligence and practical insights into the market's key elements. It offers a thorough analysis of the major factors impacting the industry's projected growth. To precisely ascertain the Veterinary Biomarkers Market size and scope, a thorough analysis of the geographic regions and segments is included.

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Market growth is primarily driven by the rising incidence of acute and chronic diseases in animals, alongside the growing demand for advanced diagnostic and monitoring technologies with improved accuracy. The American Veterinary Medical Association reports that nearly half of the dog population is experiencing cancer at a similar rate to humans. This highlights the need for specialized diagnostic kits based on biomarkers, enabling timely disease prediction and effective treatments.

Growing expenditure on animal care in both developing and developed economies presents a substantial opportunity for market expansion. In the United States, pet owners have been increasingly investing in the wellness and healthcare products for their pets, as indicated by data from the American Kennel Club (AKC). The American Pet Products Association also reported that the sales in the overall pet industry surpassed USD 140 million by the end of 2022. Moreover, there has been significant research and development activity in the veterinary field, particularly in areas such as biomarkers, over the past decade. These factors are anticipated to drive the growth of the market, providing favorable conditions for its advancement.

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Animal health industry faced significant barriers and challenges during the COVID-19 pandemic, including disruptions in marketing and sales activities, reduced veterinary clinic visits, cancellations of routine pet check-ups, and a decrease in diagnostic tests conducted in veterinary hospitals. However, governments & veterinary organizations in different countries implemented strategies & safety measures to resume the veterinary practices &relevant research activities amidst the pandemic. To mitigate the impact of lockdowns, telemedicine services were widely adopted in veterinary clinics and hospitals, allowing remote consultations and diagnoses. Additionally, pet owners were provided with digital training to use specific diagnostic kits, enabling them to participate in the diagnostic process remotely.

Veterinary Biomarkers Market Report Highlights

Companion animal segment held the largest share, primarily high adoption rate of cats & dogs in developed nations

Biomarker & kits segment dominated the market, due to the advancements in genomic technologies to find specific biomarkers

Disease diagnostics segment garnered the largest share, owing to launch of innovative biomarker-based test kits

North America led the market, with awareness among consumers and high adoption rate of pets

Some of the major players operating in the global market include

ACUVET BIOTECH
Antech Diagnostics
Avacta Animal Health
IDEXX Laboratories
Life Diagnostic
Merck
Mercodia
MI:RNA Diagnostics,
Virbac
Zoetis

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Polaris Market Research has segmented the veterinary biomarkers market report based on animal type, product type, application, and disease type:

Veterinary Biomarkers, Animal Type Outlook (Revenue - USD Million, 2023 - 2032)

Companion Animals
Dogs
Cats
Others
Production Animals
Cows
Pigs
Others

Veterinary Biomarkers, Product Type Outlook (Revenue - USD Million, 2023 - 2032)

Biomarkers, Kits & Reagents
Biomarker Readers
Veterinary Biomarkers, Application Outlook (Revenue - USD Million, 2023 - 2032)

Disease Diagnostics
Preclinical Research
Others

Veterinary Biomarkers, Disease Type Outlook (Revenue - USD Million, 2023 - 2032)

Inflammatory & Infectious Diseases
Cardiovascular Diseases
Skeletal Muscle Diseases
Tumor
Others

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