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Veterinary Diagnostic Market worth $14.80 billion by 2030, growing at a CAGR of 15.24% - Exclusive Report by 360iResearch
Veterinary Diagnostic Market | 360iResearch
The Global Veterinary Diagnostic Market to grow from USD 5.48 billion in 2023 to USD 14.80 billion by 2030, at a CAGR of 15.24%.
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Veterinary diagnostics refers to the various methods, techniques, and tools employed to identify and diagnose animal diseases, infections, or health conditions. These diagnostics play a crucial role in veterinary medicine by helping veterinarians and other animal health professionals make informed decisions about the care and treatment of animals. Veterinary diagnostics encompass various methods, including laboratory tests, imaging techniques, and clinical examinations. The increase in pet ownership, enhanced awareness about animal health, and growing expenditure on animal healthcare are collectively pushing the market forward. There are also regulatory mandates regarding food safety that directly impact the growth of the veterinary diagnostics market. The high cost of animal testing, a shortage of professional expertise in veterinary pathology, unclear reimbursement scenarios, and limited awareness in developing countries hamper its market demand. The lack of standardized tests and stringent regulatory procedures pose significant challenges for the stakeholders of the veterinary diagnostic market. The considerable demand for rapid diagnostics over laboratory-based tests, increasing prospects in untapped emerging markets, point-of-care services, and the rising need for disease control in livestock are expected to create an opportunity in the market.
The veterinary diagnostic market in the Americas shows robust growth driven by advanced substantial pet ownership and livestock industry, adopting innovative diagnostic solutions swiftly. Progressive farm management practices, increasing pet adoption, and supportive government regulations further fueled the market demand in the region. The EMEA represents a dynamic diversity in the veterinary diagnostics space due to prolific regulatory structures and the adoption of preventive veterinary care; the growing awareness of zoonotic diseases and improved accessibility of advanced veterinary services contribute to this upward trend. Asia-Pacific presents a significant opportunity for the veterinary diagnostic market. The region is marked by rapid urbanization, rising disposable incomes, and a shift in lifestyle, which have all led to increased pet ownership and demand for quality animal healthcare. The livestock industry is pivotal in countries requiring efficient disease prevention and control diagnostic measures. The adoption of rapid tests and portable instruments is significantly notable, driving market growth in this region.
Market Segmentation & Coverage:
This research report categorizes the Veterinary Diagnostic Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Consumables, Reagents & Kits, Instruments & Devices, and Software & Services. The Consumables, Reagents & Kits commanded largest market share of 47.56% in 2023, followed by Instruments & Devices.
Based on Animal Type, market is studied across Companion Animals and Livestock Animals. The Companion Animals is further studied across Cats and Dogs. The Livestock Animals is further studied across Cattle, Poultry, and Swine. The Companion Animals commanded largest market share of 54.87% in 2023, followed by Livestock Animals.
Based on Testing Category, market is studied across Analytical Services, Bacteriology, Diagnostic Imaging, Immunoassays, Molecular Diagnostics, Parasitology, Pathology, Serology, and Virology. The Diagnostic Imaging commanded largest market share of 26.13% in 2023, followed by Molecular Diagnostics.
Based on Disease Type, market is studied across General Ailments, Hereditary, Congenital & Acquired Diseases, Infectious Diseases, Non-Infectious Diseases, and Structural & Functional Diseases. The Infectious Diseases commanded largest market share of 20.02% in 2023, followed by Non-Infectious Diseases.
Based on End-Use, market is studied across Point-of-Care/In-House Testing, Research Centers & Universities, Veterinary Hospitals & Clinics, and Veterinary Reference Laboratories. The Veterinary Hospitals & Clinics commanded largest market share of 41.07% in 2023, followed by Veterinary Reference Laboratories.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 40.35% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Veterinary Diagnostic Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Veterinary Diagnostic Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Veterinary Diagnostic Market, highlighting leading vendors and their innovative profiles. These include Agrolabo S.p.A., Bio-Rad Laboratories, Inc., Biogal Galed Labs, BioMérieux S.A., BioNote, Inc., Demeditec Diagnostics GmbH, Eurofins Technologies, Fassisi GmbH, FUJIFILM Holdings Corporation, Heska Corporation, IDEXX Laboratories, Inc., IDvet, Late Dr. (Major) S.K., Neogen Corporation, Nisseiken Co., Ltd, Qiagen N.V., Randox Laboratories, Ltd., Shenzhen Bioeasy Biotechnology Co., Ltd., Shenzhen Mindray Animal Medical Technology Co., Ltd., SKYER, Inc., Skyla Corporation, Thermo Fisher Scientific Inc., Vimian Group AB, Virbac S.A., and Zoetis Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Veterinary Diagnostic Market, by Product
7. Veterinary Diagnostic Market, by Animal Type
8. Veterinary Diagnostic Market, by Testing Category
9. Veterinary Diagnostic Market, by Disease Type
10. Veterinary Diagnostic Market, by End-Use
11. Americas Veterinary Diagnostic Market
12. Asia-Pacific Veterinary Diagnostic Market
13. Europe, Middle East & Africa Veterinary Diagnostic Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Veterinary Diagnostic Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Veterinary Diagnostic Market?
3. What is the competitive strategic window for opportunities in the Veterinary Diagnostic Market?
4. What are the technology trends and regulatory frameworks in the Veterinary Diagnostic Market?
5. What is the market share of the leading vendors in the Veterinary Diagnostic Market?
6. What modes and strategic moves are considered suitable for entering the Veterinary Diagnostic Market?
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