Animal Diagnostics Market Size
In 2022 the market for animal diagnostics is estimated to be worth more than USD 7.2 billion. Driven by the worldwide increasing trend in pet adoption, the market is expected to rise at over 9% CAGR from 2023 to 2032.
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Rising societal acceptance and the desire for company many felt during COVID-19 to prevent despair and loneliness have driven pet adoption to explode in recent years. About 70% of US households have a pet, according to the 2021–22 National Pet Owner Survey taken by American Pet Products Association (APPA), or almost 90.5 million homes.
The tremendous demand for pet health services resulting from this explosive increase in pet numbers has driven expansion of the animal diagnostic industry. With veterinary treatment and product sales valued USD 31 billion, Americans spent more on pets in 2020 than they did in 2019 according to the American Veterinary Medical Association.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Animal Diagnostics Market Size in 2022 | USD 7.2 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 9% |
| 2032 Value Projection | USD 18 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 350 |
| Tables, Charts & Figures | 819 |
| Segments covered | Technology, Animal, Product, Application, End-use, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Steep costs associated with animal tests may constrain industry expansion
Although animal health services are in demand, the prohibitive expenses connected to veterinary testing could impede the development of the animal diagnostics industry. Although the cost varies depending on the ailment, animal diagnostic testing normally ranges in cost from USD 25 to USD 45. Diagnostic treatments are costly and beyond reach for many proprietors since they call for equipment, overhead, staff, and laboratory expenses. Moreover, some animal experiments need months and even years to run and evaluate the sickness. Long-term treatments and the high expense of breeding and housing, which further reduces industry share, are some further restrictions of pet health.
Animal Diagnostics Market Analysis
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Among cattle, zoonotic diseases—which can pass from animals to humans—are on increase. Particularly in the immunodiagnostics sector, this is driving expansion of the animal diagnostics market. As farmers try to safeguard their investments in animals, immunodiagnostics are in great demand and assist veterinarians in identifying autoimmune illnesses in their charges. The World Health Organisation (WHO) estimates that zoonoses account for around a billion annual deaths and illnesses worldwide. This emphasizes how crucial sophisticated animal diagnostic techniques are for protecting people as well as animals.
Driven by the increasing corporatization of the sector, whereby more veterinary clinic chains are developing to increase access to modern diagnostic services, animal diagnostics market share from veterinary clinics is predicted to be valued at over USD 10 billion by 2032. Actually, city officials in Detroit, Michigan revealed plans for a state-of- the-art animal shelter valued USD 5 million for Detroit Animal Care and Control in October 2021, which would also contain a new veterinary medical center with modern conveniences.
Learn more about the key segments shaping this market
Growing pet care expenditure will help North America's animal diagnostics market to expand at around 8.5% CAGR over 2023–2032. Actually, according to credible sources, the US's pet care expenditure has risen throughout the past ten years, which provides great need for animal diagnostics. This trend drove veterinary care expenditure in the nation to reach USD 32 billion back in 2021. Good legislative laws supporting different market players engaged in the company sector additionally help to outline the regional expansion.
Animal Diagnostics Market Share
The list of leading animal diagnostics market players includes names such as
- Neogen Corporation
- Virbac
- BioNote, Inc.
- Boehringer Ingelheim International GmbH
- VetAll Laboratories
Many of these players are emphasizing on merger and acquisition efforts to gain a competitive advantage in the field. Citing an instance, in February 2021, Heska Corporation, a US-based provider of the latest technologies to pet healthcare providers, inked a definitive agreement to acquire Lacuna Diagnostics, a provider of POC diagnostics digital cytology technology. This strategic move helped the company expand its point-of-care diagnostics portfolio.
Impact of the COVID-19 pandemic
The COVID-19 pandemic impacted the animal diagnostics industry positively as the adoption of pets and animal diagnostic test kits surged dramatically. However, the lockdowns also led to the temporary closure of several veterinary units, constraining the market in some segments. However, demand for effective COVID-19 care also increased during the period as animals were also susceptible to the disease. The University of Glasgow was the among the first to highlight the presence of COVID-19 infection among pets such as cats, dogs, and other animals.
Animal diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments
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By Technology
- Immunodiagnostics
- ELISA
- Lateral Flow Assays
- Immunoassay Analyzers
- Other
- Clinical Biochemistry
- Glucose Monitoring
- Blood Gas & Electrolyte Analysis
- Other
- Hematology
- Molecular Diagnostics
- PCR
- Microarrays
- Others
- Urinalysis
- Others
By Animal
- Farm Animals
- Poultry
- Swine
- Cattle
- Others
- Companion Animals
- Dogs
- Cats
- Horses
- Others
By Product
- Instruments
- Consumables
By Application
- Bacteriology
- Parasitology
- Pathology
- Others
By End-use
- Veterinary Clinics
- Veterinary Hospitals
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Poland
- Netherlands
- Sweden
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Thailand
- Philippines
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- Chile
- Peru
- MEA
- South Africa
- Saudi Arabia
- UAE
- Egypt
- Israel
- Turkey
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