Global Veterinary Diagnostics Market Size Analysis - Market Share, Forecast Trends and Outlook Report (2024-2032)

Global Veterinary Diagnostics Market Growth

Veterinary diagnostics consists of tests performed on biological samples from animals to identify and detect pathologies by analysing flesh, blood, stools, or other types of samples taken for diagnostic purposes. Rising urbanisation and changing lifestyles, along with the emotional bonds that many people and families have developed with animals due to pet ownership, are leading to an increase in animal numbers. Increased pet ownership drives associated veterinary care spending, such as diagnostics. The care of pets has been promising for a growing proportion of pet owners as they choose preventative medicine and earlier disease detection. This trend is driven by the humanisation of pets, as people increasingly see animals as part of their family and are ready to pay more for premium medical solutions. Thus, the veterinary diagnostics demand growth is driven by rising the demand for advanced veterinary diagnostic services such as blood tests, imaging, and genetic testing.

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Global Veterinary Diagnostics Market Analysis

The veterinary diagnostics industry growth is being accelerated by the growing adoption of in-clinic diagnostic devices. These tools allow vets to perform point-of-care testing in their offices, delivering immediate results, so treatment decisions can be made earlier. The rapid point-of-care diagnostics segment is expected to experience significant growth due to the time saved and the convenience these technologies offer.

The veterinary diagnostics market dynamics and trends are being driven by the growing adoption of artificial intelligence (AI). AI and machine learning are increasingly being used in diagnostic tools to enhance image analysis of X-rays, CT scans, and MRI imaging, as well as pathology results for better cancer staging diagnoses through digital slides. Additionally, advancements in wearable technologies are impacting veterinary diagnostics. These devices help monitor the health parameters of pets and livestock continuously, allowing for immediate action when health issues arise.

Increasing incidences of zoonotic diseases and rising concerns about food safety practices have boosted the demand for veterinary diagnostics in livestock and food-producing animals. The health of animals is crucial for the safety of meat, dairy, and other animal-based products. Governments and health organizations promote strict monitoring of animal health to prevent diseases such as avian flu, mad cow disease, and swine fever. Preventing such outbreaks and protecting public health relies on early diagnosis and surveillance through diagnostic testing. This trend is fostering the growth of veterinary diagnostics market aimed at livestock and food animals.

There is a growing shift in veterinary care toward preventive healthcare rather than just treatment. Proactive diagnostics, such as wellness checks, early genetic disorder screenings, and periodic testing for routine infections, are becoming more common. Veterinarians are promoting regular diagnostics to detect health issues before they become severe, resulting in rising demand for diagnostic tests. This shift toward preventive care is also supported by insurance providers who are more likely to cover routine diagnostic services, thus, further boosting the demand of veterinary diagnostics market.

Veterinary Diagnostics Industry Outlook

As per Our World in Data, Brazil’s cattle population witnessed a significant increase from 224.6 million in 2021 to 234.3 million in 2022, marking an absolute growth of 9.75 million heads of cattle. This growth positions Brazil as a dominant player in the cattle industry, a reflection of its robust livestock infrastructure. Chad, with a rise from 33.2 million in 2021 to 35.7 million in 2022, saw an increase of 2.46 million heads. South Korea experienced a growth of 0.12 million heads, rising from 3.99 million in 2021 to 4.11 million in 2022, showcasing stable growth in its agricultural base. Ethiopia saw a similar pattern, adding 1.7 million heads to its total, from 66.2 million in 2021 to 67.9 million in 2022. Niger, with an increase of 1.02 million heads, from 17.1 million in 2021 to 18.1 million in 2022, further contributes to the region's overall livestock growth. Argentina recorded an absolute increase of 826,160 cattle heads, from 53.4 million to 54.2 million between 2021 and 2022, reflecting a steady but moderate increase. Tanzania's cattle population also expanded by 800,472 heads, from 31.1 million in 2021 to 31.9 million in 2022. India, one of the largest cattle-rearing nations, showed a more modest increase of 727,040 heads, from 192.9 million in 2021 to 193.6 million in 2022, maintaining its vast cattle population. This indicates that the increasing global cattle population is driving the veterinary diagnostics market revenue by elevating the demand for diagnostic tools and services aimed at disease prevention, herd health management, and productivity optimisation.

Brazil holds the largest population of pets in this analysis, with 54.2 million dogs and 23.9 million cats. In Mexico, the balance between dog and cat ownership shows a significant tilt towards dogs, with 23 million cats compared to a minimal presence of dogs. Russia demonstrates a close balance between pet types, with 22.7 million cats and 17.1 million dogs, indicating a diversified pet market. This trend suggests growth opportunities for a wide range of veterinary diagnostics and services catering to both species. Germany, with 15.7 million cats and 10.7 million dogs, represents a robust market for both canine and feline veterinary care. This shows that pet ownership is a key driver of the veterinary diagnostics industry revenue. The rising number of pet owners, particularly in regions like the U.S., Europe, and Brazil, is fueling demand for veterinary care, including diagnostics.

Technological advancements such as AI and molecular diagnostics enhance accuracy and efficiency driving the veterinary diagnostics market demand.

• Increasing pet ownership and demand for preventive animal care drive market expansion.
• Growing awareness of zoonotic diseases raises the need for reliable diagnostic tools.

High costs associated with advanced diagnostic equipment can limit accessibility in some regions.

• Lack of skilled professionals in emerging markets hinders effective adoption of cutting-edge technologies.
• Regulatory hurdles and varying approval processes across countries slow down market entry.

The expansion of point-of-care diagnostics, which offers faster and more accessible testing solutions, is driving the veterinary diagnostics industry growth.

• Growing livestock populations, particularly in developing countries, provide new market avenues.
• Rise of personalised veterinary medicine opens opportunities for specialized diagnostics.

Competition from generic diagnostic tools may pressure pricing and profit margins.

• Economic fluctuations can impact pet ownership and discretionary spending on animal health.
• Rapid technological advancements may render existing diagnostic solutions obsolete.

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Global Veterinary Diagnostics Industry Segmentation

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Veterinary Diagnostics Market Share

Molecular diagnostics are driving the growth of the veterinary diagnostics industry by offering early, accurate disease detection through genetic analysis, especially for pathogens and zoonotic diseases. PCR and next-generation sequencing offer better accuracy and faster results. While clinical biochemistry remains essential for routine metabolic evaluations, its scope is more limited, focusing mainly on organ function rather than early disease detection.

Immunodiagnostics is playing a crucial role in driving the growth of veterinary diagnostics market, surpassing traditional haematology technologies in several key areas. It allows veterinarians to achieve higher sensitivity and specificity in diagnosing diseases. Immunodiagnostic methods like ELISA and lateral flow assays are used for pathogen detection or measuring antibodies and antigens related to diseases, ensuring early and precise diagnoses. This is especially important in veterinary medicine, where timely intervention can significantly impact treatment outcomes. In contrast, haematology technology offers more general insights through blood cell counts, which are still valuable but less targeted for diagnosing specific diseases.

Leading Companies in the Veterinary Diagnostics Market

The companies specialise in veterinary diagnostics, offering a range of advanced diagnostic solutions, including immunodiagnostics, molecular diagnostics, and other innovative testing technologies. These firms are known for their contributions to disease detection, food safety, and animal health, providing diagnostic tools that enable early and accurate identification of diseases in both companion animals and livestock.

Randox Laboratories, Ltd.

Launched VeraSTAT-V, a point-of-care diagnostic system for equine health. Introduced RX series chemistry analyzers tailored for comprehensive veterinary diagnostic needs.

Idvet

Launched new PCR-based diagnostic kits in 2023, focusing on zoonotic disease detection. Expanded partnerships ...

Biomérieux SA

Invested £70 million in Oxford Nanopore to enhance nanopore-based veterinary diagnostics. Launched BIOFIRE® ...

Virbac

Opened a research and diagnostic center for warm water aquaculture in Vietnam, in 2021. Launched advanced vete...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*