Veterinary Point of Care Diagnostics Market Size
Veterinary Point of Care DiagnosticsEstimated to rise at around 9.4% CAGR between 2023 and 2032, market size valued USD 1.7 billion in 2022. The primary drivers driving the market's growth are increased pet-related expenditure, acceptance of new technologies, and growing need for point-of-care testing.
To get key market trends
Veterinary point of care diagnostics is the application of diagnostic tests and instruments capable of quick and convenient performance at the point of care, like veterinary clinics, field environments or on-site at farms or animal shelters. These tests are meant to give animals' diagnostic, monitoring, and treatment benefit quick and accurate findings. The veterinary point of care diagnostics covers a broad spectrum of tests and technologies meant to identify and examine certain disorders and diseases in animals.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Veterinary Point of Care Diagnostics Market Size in 2022 | USD 1.7 billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 9.4% |
| 2032 Value Projection | USD 4.1 billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 220 |
| Tables, Charts & Figures | 450 |
| Segments covered | Product, Test Type, Animal Type, Sample Type, End-user, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
COVID-19 Impact
Pet health check and test market was not greatly changed at beginning of the COVID-19 epidemic. However, as social separation and lockdowns became the norm, individuals began to choose more animals to alleviate their stress and loneliness from staying at home. As a result, during the epidemic more people kept dogs and cats. In addition, the epidemic raised awareness among individuals of the COVID-19 danger among diseases that might pass from animals to humans. Together, governments, health groups, and the media taught people about zoonotic illnesses, how to prevent them, and how to keep their pets and agricultural animals healthy. These factors combined helped the market for pet health checks and tests remain steady in 2020.
Veterinary Point of Care Diagnostics Market Trends
Without a central diagnostic laboratory, the point of care testing technologies offers clinically meaningful diagnostic information. Consequently, they could help to save time and money related to the veterinary diagnosis. For decades the diagnosis of infectious diseases in animals has relied on the lateral flow technology utilized in POC veterinary lateral flow assay instruments and dipsticks. These test items consist of portable immuno-chromatography strips including antigens and antibodies for particular illness diagnosis. The favorable findings obtained with lateral flow POC devices are medically approved; yet, in case of negative findings, extra confirmatory laboratory tests could be necessary because of their reduced sensitivity.
Veterinary Point of Care Diagnostics Market Analysis
Learn more about the key segments shaping this market
Things you use up (consumables) and things you keep using (instruments and tools) define the two primary groupings into which the veterinary point-of-care diagnostics industry falls. With 57.3%, consumables—like test kits and reagents—took front stage on the market in 2022. This is mostly due to corporations often providing subscription-based or recurring payment options for these goods. Furthermore, there are plenty of consumables on the market and major companies are constantly developing fresh ideas and offers. For instance, long-term subscriptions account for about 90% of Heska Corporation's point-of-care consumables sold. Their subscriber count in 2019 was at 2,376; in 2020 it rose to 2,980. Moreover, the business has maintained over 95% of its customers returning for more. These elements so probably help the consumables segment to maintain expanding.
Learn more about the key segments shaping this market
We may divide the market into several groups depending on the sort of test to better grasp the several ways vets test animalsChemistrySearching blood for elements including glucose, proteins, hormones, and enzymes. ImmunologySearching the blood for signs suggestive of allergies or illnesses. MolecularSearching for particular genes or genetic markers using fancy technology Hematology is the study of blood cells for evaluation of health and blood diseases. urinalysisExamining urine to look for infections, renal disease, and other disorders. Other testsAnything else not falling within the above mentioned categories. By 2032, the chemistry category is predicted to expand the most—roughly $1.4 billion. Explain why. Since chemistry tests provide vets with fast access to a lot of animal health information. They can look for liver, renal, diabetic, and more diseases. And the finest thing is Results from these tests should come in within nine minutes. Instead of making pet owners return for a second visit, vets may tell them the news and begin treatment straight away. For the pet owner as well as the veterinarian, that provides a great ease! Thus, the industry will surely expand as more fast-result chemical tests become available.
Companion animals—such our furry companions like dogs, cats, and horses—and cattle animals—think of cows, pigs, chickens, and more—form the two slices of a large pie that is the veterinary point-of- care diagnostics market. The companion animal slice was the larger one in 2022; it's predicted to keep expanding like a massive fluffy ball of cuteness! This is so because we're choosing more furry pals than ever before and we're all realizing how the health of our pets could impact our own. Vets diagnose our animals using a variety of simple equipment, like blood sugar monitoring, pregnancy tests, and even small strips you urinate on to look for illnesses. And, guess what? We're using more and more of these products since everyone is growing wiser regarding the health and happiness of their dogs.
Depending on the sample being taken, there are several kinds of tests available for animal diagnosis in a veterinary office. These samples might be blood, plasma, serum, urine, feces, or something else entirely. Blood is the most often utilized sample of all these ones. Actually, in 2022 blood or plasma will be involved in around 43.5% of all animal diagnostic tests. This is so because blood testing can reveal whether your animal companion suffers from any infectious diseases or other medical conditions. For instance, Kirkwood Animal Hospital in the United States advises routinely doing blood tests on your pet as part of their general health care. Though they might not show up on a physical checkup, this helps identify any possible issues early on. Before surgery or any anesthesia-requiring operation, blood testing can also be conducted to ensure everything is in order.
Consider veterinary care's market as a pie. It is split depending on the users of the servicesAnimal hospitals and clinicsThis slice stands as the largest portion of the pie. Most animals travel to these locations for treatment and visits. They also run a variety of tests to identify your animal friend's problem. Diagnostic labsThese locations serve as really clever assistants. Their main concentration is on testing animal-based samples. They may more broadly check for illnesses, examine DNA, and more. Home environmentsSometimes you might want to look after your pet at home. These services help with that. They give you examinations and guidance to apply right at home. Different end usersA few smaller portions of the pie—research facilities and animal shelters—also employ veterinary diagnostics. Turning now back to the most often used sliceveterinary clinics and hospitals. Seeing the most animals, they are like the pie's core. People are bringing their pets in more frequent and requesting additional tests to ensure their animals are healthy. Moreover, the government is providing these clinics and hospitals some additional assistance—always a benefit!
Looking for region specific data?
North America region is predicted to dominate the veterinary point of care diagnostics market with a CAGR of 9% over the forecast period. Presence of major animal healthcare companies coupled with advancements in veterinary healthcare infrastructure in Canada and the U.S. are enabling real-time diagnosis, which is anticipated to R&D activity and new product development. Also, the increased number of veterinarians and veterinary clinics in the region is propelling the market growth.
Veterinary Point of Care Diagnostics Market Share
Some of the major market players operating in the veterinary point of care diagnostics market are
- Zoetis, Inc.
- IDEXX Laboratories,Inc.
- Heska Corporation
- Virbac
- Thermo FisherScientific, Inc.
- EurolyserDiagnostica GmbH
These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Veterinary Point of Care Diagnostics Industry News
- In March 2022, VolitionRx Limited (Volition) announced that it has signed an exclusive global supply and license agreement with Heska Corporation (Heska) to sell Volitions Nu.Q Vet Cancer Screening test. This strategy is expected to enhance their long-term relation as well as outreach to untapped economies.
- In September 2020, Zoetis launched its Vetscan Imagysta, a diagnostic platform that uses a combination of image recognition technology, algorithms and cloud-based artificial intelligence (AI) to deliver accurate testing results. This helped the company to expand its product portfolio and increase its revenue from its sales.
This veterinary point of care diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments
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By Product
- Consumables
- Instruments & Devices
By Test Type
- Clinical biochemistry
- Immunodiagnostics
- Molecular diagnostics
- Hematology
- Urinalysis
- Other test type
By Animal Type
- Companion animal
- Dogs
- Cats
- Horses
- Other companion animals
- Livestock animals
- Cattle
- Swine
- Poultry
- Other livestock animals
By Sample Type
- Blood/Plasma/Serum
- Urine
- Fecal
- Other samples
By End-user
- Veterinary hospitals and clinics
- Diagnostic labs
- Home care settings
- Other end-users
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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