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The veterinary diagnostics products market is projected to reach US$ 16.68 billion by 2031 from US$ 8.68 billion in 2024 and to register a CAGR of 9.9% during 2025-2031.
Veterinary Diagnostics Products Market Analysis
The surging prevalence of zoonotic diseases, soaring initiatives for animal health, growing pet ownership, and companion animal adoption drive the market growth. Developing cost-effective diagnostic solutions for rural markets will create ample opportunities for the veterinary diagnostics products market in the coming years.
Veterinary Diagnostics Products Market Overview
North America is projected to dominate the veterinary diagnostics products market, accounting for the largest share during the forecast period. Moreover, Asia Pacific is expected to register a significant CAGR during the forecast period owing to rising awareness of animal health. As awareness of the importance of preventive care, early disease detection, and timely treatment increases, pet owners are looking for reliable diagnostic tests to keep track of their animals' health. This change appeals to many medical fields, such as emergency medicine, nursing, and surgery.
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Veterinary Diagnostics Products Market: Strategic Insights
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Veterinary Diagnostics Products Market Drivers and Opportunities
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Veterinary Diagnostics Products Market: Strategic Insights
Mrinal
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Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Market Drivers:
Surging Prevalence of Zoonotic Diseases:
Zoonotic diseases, which spread from animals to humans, are caused by viruses, bacteria, parasites, and fungi and lead to illnesses. Common zoonotic diseases include Ebola, rabies, Salmonella, anthrax, Lyme disease, E. coli, and bird flu. These diseases pose a significant public health challenge.Soaring Initiatives for Animal Health:
Since increasing vaccination awareness in managing zoonotic diseases, the WOAH and the WHO have initiated global awareness campaigns. Under the WHO Global Strategic Plan, the goal is to eliminate human deaths from dog-mediated rabies by 2030. The plan supports efforts to increase the use of vaccines.Growing Pet Ownership and Companion Animal Adoption:
According to a report by HealthforAnimals published in 2024, the global pet population exceeded 1 billion animals. The population growth is attributed to urbanization, changing lifestyles, and stronger emotional connections with pets, particularly dogs and cats.
Market Opportunities:
Increasing Research and Development Activities:
The rising research and development spending by market players boosts innovation in detection technologies. This improves the sensitivity and specificity of the kits and tackles specific animal health challenges in different regions.Expansion of Point-of-Care Testing:
Point-of-care (POC) testing allows veterinarians and farmers to get fast results without relying on central labs crucial in global settings with varying infrastructure, from remote rural areas to urban clinics. This method facilitates prompt disease identification, enhances animal welfare, increases livestock productivity, and supports international goals for sustainable agriculture and zoonotic disease control.Development of Cost-Effective Diagnostic Solutions for Rural Markets:
The absence of proper lab facilities and skilled workers in rural areas creates a need for affordable, easy-to-use diagnostic tools. These tools can be used by farmers or individuals with basic training.
Veterinary Diagnostics Products Market Report Segmentation Analysis
The veterinary diagnostics products market is divided into different segments to give a clearer view of how it works, its growth potential, and the latest trends. Below is the standard segmentation approach used in most industry reports:
By Animal Type:
Companion Animals:
Companion animal healthcare includes products and services for diagnosing, treating, and preventing diseases in pets such as dogs and cats. It covers vaccinations, medications, diagnostic tests, and special diets to improve animal well-being.Livestock Animals:
The livestock sector has rapidly changed in the past few years as the demand for animal-derived foods has increased significantly.
By Product:
Kits & Reagents:
The global market is experiencing growth in the launch and availability of veterinary diagnostic kits and reagents, driven by international initiatives such as the One Health approach and increased focus on animal health.Analyzers:
Medical device developers can receive financial support for animal studies and for clinical investigations of devices.
By Application:
Infectious Diseases:
Rising zoonotic disease incidence, such as canine parvovirus and avian influenza, necessitates rapid diagnostic tools such as PCR and ELISA to control the spread and improve treatment outcomes.Noninfectious Diseases:
Noninfectious diseases in animals, known as noncommunicable diseases, include metabolic disorders (ketosis and diabetes), inflammatory problems (mastitis), and musculoskeletal issues (lameness, cancer, and obesity).
By End User:
- Public Healthcare Facilities
- Private Healthcare Facilities
By Geography:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
The veterinary diagnostics products market in North America is expected to hold a significant market share. Factors such as high prevalence of conditions such as rabies, influenza, and others in the region, and a well-established healthcare infrastructure are likely to drive the market.
Veterinary Diagnostics Products Market Report ScopeVeterinary Diagnostics Products Market Share Analysis by Geography
Asia Pacific is expected to grow the fastest in the next few years. Emerging markets in South and Central America, the Middle East, and Africa also offer many untapped opportunities for veterinary diagnostics product providers to expand.
The veterinary diagnostics products market grows differently in each region, owing to the high prevalence of conditions such as rabies, influenza, and leishmania. Below is a summary of market share and trends by region:
1. North America
Market Share:
Holds a significant portion of the global marketKey Drivers:
- High prevalence of conditions such as infectious diseases
- Well-established healthcare infrastructure
- Supportive government initiatives
Trends:
Manufacturing advancements and sustainable practices
2. Europe
Market Share:
Substantial share due to increasing prevalence of pain conditionsKey Drivers:
- The pet population and the prevalence of infectious conditions
- Intensified research and development activities
Trends:
Regulatory influence on market structure
3. Asia Pacific
Market Share:
Fastest-growing region with rising market shares every yearKey Drivers:
- Massive production base and cost advantages
- Rapid improvements in healthcare infrastructure
- High local production and export capability
Trends:
Innovations in formulations and delivery
4. South and Central America
Market Share:
Growing market with steady progressKey Drivers:
- Increasing incidence of infectious conditions and self-medication
- Growing animal health awareness and spending power
Trends:
Technological Developments in Diagnostic Kits Manufacturing
5. Middle East and Africa
Market Share:
Although small, but growing quicklyKey Drivers:
- Expanding healthcare infrastructure
- Prevalence of infectious diseases
Trends:
Growth in Diagnostics Products
Veterinary Diagnostics Products Market Players Density: Understanding Its Impact on Business Dynamics
High Market Density and Competition
Competition is strong due to established players such as Zoetis Inc, Randox Laboratories Ltd, and Fujifilm Corp. Regional and niche providers such as Bionote Inc and Gold Standard Diagnostics Budapest Kft add to the competitive landscape across different regions.
This high level of competition urges companies to stand out by offering:
- Advanced products
- Value-added services such as customization and sustainable solutions
- Competitive pricing models
- Compliance with regulatory guidelines
Opportunities and Strategic Moves
- Companies are spending more on research and development, which drives innovation in detection technologies. This also improves the sensitivity and specificity of the kits and addresses specific animal health issues in different regions.
- Manufacturers will likely focus on local production to cut costs and strengthen supply chains, especially in high-volume markets such as in India.
Major companies operating in the veterinary diagnostics products market are:
- Zoetis Inc
- Thermo Fisher Scientific Inc
- Randox Laboratories Ltd
- Bionote Inc
- Gold Standard Diagnostics Budapest Kft
- Ubio Biotechnology Systems Pvt Ltd
- Secure Diagnostics Pvt Ltd
- InBios International Inc
- VMRD Inc
- Fujifilm Corp
Disclaimer: The companies listed above are not ranked in any particular order.
Other companies analyzed during the course of research:
- Idexx Laboratories Inc
- ARI Medical Technology Co Ltd
- Immunology Consultants Laboratory Inc
- Heska Corp
- Innovative Diagnostics SAS
- i-SENS Inc
- Tianjin LOCMEDT Technologies Co Ltd
- Universal Biosensors Inc
- Elabscience Biotechnology Inc
- Elanco Animal Health Inc
- Ceva Santé Animale
- Shenzhen Mindray Animal Medical Technology Co., LTD
Veterinary Diagnostics Products Market News and Recent Developments
Zoetis Launches AI Masses, the New AI-Powered Cytologic Capability for Vetscan Imagyst
Zoetis Inc. launched AI Masses, the newest addition to the Vetscan Imagyst analyzer. AI Masses detects potentially neoplastic cells accurately, supporting veterinary professionals to make informed decisions and streamlining diagnoses and clinic workflows.FUJIFILM’s New In-House Diagnostics System for Vets
FUJIFILM Healthcare Europe announced the launch of the FUJI DRI-CHEM AU20V, an enhanced in-house diagnostics measurement device for veterinary use. This is the latest addition to FUJIFILM’s FVET veterinary diagnostics portfolio, designed to provide rapid laboratory-quality results.
Veterinary Diagnostics Products Market Report Coverage and Deliverables
The "Veterinary Diagnostics Products Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Veterinary diagnostics products market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Veterinary diagnostics products market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Veterinary diagnostics products market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the veterinary diagnostics products market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Zoetis Inc., Thermo Fisher Scientific Inc., Randox Laboratories Ltd, Bionote Inc., Gold Standard Diagnostics Budapest Kft., Ubio Biotechnology Systems Pvt Ltd, Secure Diagnostics Pvt Ltd, InBios International Inc., VMRD Inc., and Fujifilm Corp are among the key players operating in the veterinary diagnostics products market.
North America dominated the market in 2024.
The surging prevalence of zoonotic diseases, soaring initiatives for animal health, growing pet ownership, and companion animal adoption drive the market growth.
The veterinary diagnostics products market is estimated to reach US$16.68 billion by 2031.
The veterinary diagnostics products market is estimated to register a CAGR of 9.9% during the forecast period.
The List of Companies - Veterinary Diagnostics Products Market
- Zoetis Inc
- Thermo Fisher Scientific Inc
- Randox Laboratories Ltd
- Bionote Inc
- Gold Standard Diagnostics Budapest Kft
- Ubio Biotechnology Systems Pvt Ltd
- Secure Diagnostics Pvt Ltd
- InBios International Inc
- VMRD Inc
- Fujifilm Corp
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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