Veterinary Infectious Disease Diagnostics : Market Growth, Massive CAGR Development, Size, Share, Prominent Players, Latest drivers And Segmentations , Regional Study and Forecast by 2031

According to a recent report by InsightAce Analytic, the "Veterinary Infectious Disease Diagnostics Market" was estimated to be worth $2.06 billion in 2023 and is expected to reach $3.95 billion by 2031, with a compound annual growth rate (CAGR) of 3.95% from 2024 to 2031.

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Latest Drivers Restraint and Opportunities Market Snapshot:

Key factors influencing the veterinary infectious disease diagnostics market are:
• Increase in research and development efforts
• Rising rates of zoonotic and transboundary diseases
• The increased popularity of owning pets

Future expansion opportunities for the veterinary infectious disease diagnostics market include:
• Increasing spending on animal healthcare
• Increasingly popular pet insurance
• Technological Advancement

The following are the primary obstacles to the veterinary infectious disease diagnostics market 's expansion:
• Veterinarians in short supply in emerging markets
• Growing expenses for pet care
• Insufficient diagnostic facilities

Market Analysis:

The diagnostics of veterinary infectious illnesses encompasses various methods and assays used to identify contagious illnesses. In the same vein, these procedures and assays are based on diagnostics for animal infectious diseases. These tests are capable of detecting parasites, viruses, and bacteria that are responsible for animal ailments. The high demand for diagnostic testing among animal owners is the primary cause of the increasing expense. Due to these factors, the market is anticipated to experience substantial growth in the years ahead. The regional market is generally performing well, bolstered by a readily accessible, high-quality healthcare infrastructure and increased research and development.

List of Prominent Players in the Veterinary Infectious Disease Diagnostics Market:

• Neogen Corporation (U.S.)
• INDICAL BIOSCIENCE GmbH (Germany)
• Agrolabo S.p.A. (Italy)
• Abbott (U.S.)
• Danaher (U.S.)
• Randox Laboratories Ltd. (U.K.)
• Thermo Fisher Scientific Inc. (U.S.)
• Virbac (France)
• Chembio Diagnostic Systems, Inc. (U.S.)
• Eurofins Technologies (Luxembourg)
• Zoetis (U.S.)
• BIOMÉRIEUX (France)
• Heska Corporation (U.S.)
• IDEXX (U.S.)
• Creative Diagnostics (U.S.)
• DRG INSTRUMENTS GMBH (Germany)
• Abaxis (U.S.)

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Recent Developments:

• In January 2024, IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, introduced the IDEXX in Vue DxTM Cellular Analyzer. The most prevalent cytologic abnormalities detected in blood and ear samples can be diagnosed by this groundbreaking device, which is the first of its kind.
• In January 2024, Neogen Corporation introduced the SureKill Gel Bait Pro Applicator, the most recent member of the SureKill line of pest control solutions.
• In June 2023, Chembio Diagnostics, Inc., a leader in infectious disease point-of-care diagnostics, announced that it had received a Clinical Laboratory Improvement Amendments (CLIA) waiver from the U.S. Food and Drug Administration (FDA) for the DPP HIV-Syphilis System.

Veterinary Infectious Disease Diagnostics Market Dynamics:

Market Drivers: Increased Popularity of Owning Pets

The veterinary infectious disease diagnostics market is expected to experience growth due to the growing global pet population, which will generate a demand for pet care products and services. The veterinary infectious disease diagnostics market is expected to be driven by several critical factors, including the increasing demand for animal-derived food products, the increase in the number of veterinary practitioners, the implementation of additional disease control and prevention measures, the increase in the number of companion animals, and the implementation of more favourable pet insurance policies.

Challenges: Growing Expenses for Pet Care

The veterinary infectious disease diagnostics market is anticipated to encounter growth challenges during the projected period due to factors such as the escalating cost of pet care and a lack of awareness regarding animal healthcare in developing nations. The increasing frequency with which pets require treatment from veterinary specialists is a contributing factor to the increasing cost of pet healthcare. The number of trips pet owners make to veterinary facilities is directly influenced by the high pet care expenditures restricting this market's development. There is an acute scarcity of veterinarians, which poses the most significant challenge to expanding into emerging markets.

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North America is Expected to Grow with the Highest CAGR During the Forecast Period

The veterinary infectious disease diagnostics market is anticipated to experience a rapid CAGR and a substantial revenue share shortly. The reasons for this are the increasing cost of healthcare, the rise in companion ownership, and the accessibility of diagnostic products. The regional market's expansion is primarily being supported by the availability of appealing healthcare facilities and a flurry of new R&D initiatives.

Segmentation of Veterinary Infectious Disease Diagnostics Market-

By Technology-
• Immunodiagnostics
o ELISA Test
o Lateral Flow Assays
o Other Immunodiagnostics Products
• Molecular Diagnotic
o Microarrays
o Polymerase Chain Reaction (PCR) Tests
o Other Molecular Diagnostic Products
• Other Technologies

By Animal Type-
• Companion Animals
o Dogs
o Cats
o Horses
o Other Companion Animals
• Companion Animals By Infection Type
o Bacterial Infections
o Viral Infections
o Parasitic Infections
o Other Infections
• Food -producing Animals
o Poultry
o Cattle
o Pigs
o Other Food-producing animals
• Food-producing Animals, By Infection Type
o Parasitic Infections
o Viral Infections
o Bacterial Infections
o Other Infections

By End User-
• Research Institutes and Universities
• Point-of-care/ In-house testing
• Reference Laboratories
• Veterinary Hospitals and Clinics

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By Region-

North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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