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Animal Diagnostics Market Size & Share, By Products (Kits and Reagents, Instruments, Software and Services), Technology (Molecular Diagnostics, Hematology, Immunodiagnostics), Animal Type (Companion Animal, Livestock Animal), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Report ID: FBI 5727

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Published Date: Aug-2024

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Format : PDF, Excel

Market Outlook:

Animal Diagnostics Market crossed USD 8.3 Billion in 2023 and is expected to exceed USD 18.63 Billion by end of the year 2032, observing around 9.4% CAGR between 2024 and 2032.

Base Year Value (2023)

USD 8.3 Billion

19-23 x.x %
24-32 x.x %

CAGR (2024-2032)

9.4%

19-23 x.x %
24-32 x.x %

Forecast Year Value (2032)

USD 18.63 Billion

19-23 x.x %
24-32 x.x %
Animal Diagnostics Market

Historical Data Period

2019-2023

Animal Diagnostics Market

Largest Region

North America

Animal Diagnostics Market

Forecast Period

2024-2032

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Market Dynamics:

Growth Drivers & Opportunity:

Increasing prevalence of zoonotic diseases and rising demand for animal-derived food products are driving the growth of the animal diagnostics market. Furthermore, the growing pet population and increasing adoption of companion animals are fueling the demand for early and accurate diagnosis of diseases in animals. Additionally, technological advancements in diagnostics tools and techniques are providing new growth opportunities in the market.

Report Scope

Report CoverageDetails
Segments CoveredProducts, Technology, Animal Type
Regions Covered• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company ProfiledIDEXX Laboratories,, Zoetis, Antech Diagnostics,, Agrolabo S.p.A., Embark Veterinary,, Esaote SPA, Thermo Fisher Scientific,, Innovative Diagnostics SAS, Virbac, FUJIFILM

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Industry Restraints:

High cost of diagnostic tests and limited awareness about animal health issues among pet owners are major restraints hindering the growth of the animal diagnostics market. Additionally, lack of skilled professionals and infrastructure in developing regions is posing a challenge for market growth.

Regional Forecast:

Animal Diagnostics Market

Largest Region

North America

XX% Market Share in 2023

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North America:

The animal diagnostics market size in North America, specifically in the U.S. and Canada, is expected to show steady growth due to the increasing pet ownership and rising awareness about animal health. The presence of advanced veterinary healthcare infrastructure and the high adoption rate of novel diagnostic technologies are driving the market growth in this region.

Asia Pacific:

In the Asia Pacific region, particularly in China, Japan, and South Korea, the animal diagnostics market is witnessing significant growth due to the increasing demand for quality animal healthcare services. The rise in disposable income and the growing pet population are key factors contributing to the market expansion in these countries. Additionally, government initiatives promoting animal health and disease control are further propelling market growth in the region.

Europe:

The animal diagnostics market in Europe, particularly in the United Kingdom, Germany, and France, is expected to experience steady growth due to the presence of well-established veterinary diagnostics infrastructure and the growing focus on preventive veterinary care. The increasing adoption of point-of-care testing devices and the rising prevalence of zoonotic diseases are driving the market growth in these countries. Additionally, advancements in molecular diagnostics and genetic testing techniques are further boosting the demand for animal diagnostic products in the region.

Report Coverage & Deliverables

Historical Statistics Growth Forecasts Latest Trends & Innovations Market Segmentation Regional Opportunities Competitive Landscape
Animal Diagnostics Market
Animal Diagnostics Market

Segmentation Analysis:

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In terms of segmentation, the global Animal Diagnostics market is analyzed on the basis of Products, Technology, Animal Type.

Products

The animal diagnostics market is segmented by products into kits and reagents, instruments, software, and services. The kits and reagents segment holds a significant market share due to their widespread use in the diagnosis of various animal diseases. The instruments segment is also growing steadily, driven by technological advancements and increasing demand for accurate and rapid diagnostic solutions. The software and services segment is expected to witness high growth in the coming years, as digitalization and automation are becoming increasingly prevalent in the veterinary diagnostics industry.

Technology

The animal diagnostics market is categorized by technology into molecular diagnostics, hematology, and immunodiagnostics. Molecular diagnostics are widely used for detecting genetic diseases and infectious pathogens in animals, driving the growth of this segment. Hematology technology is essential for analyzing blood samples and diagnosing various blood disorders in animals. Immunodiagnostics, which involve the detection of antigens or antibodies in the blood, are also gaining prominence in the animal diagnostics market.

Animal Type

The animal diagnostics market is segmented by animal type into companion animals and livestock animals. The companion animal segment, which includes pets such as dogs, cats, and horses, dominates the market due to the high prevalence of diseases in these animals and the increasing expenditure on pet healthcare. The livestock animal segment, which includes cattle, poultry, and swine, is also witnessing growth due to the rising demand for livestock products and the need for disease prevention and control in animal farming.

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Competitive Landscape:

The animal diagnostics market is characterized by a competitive landscape marked by a mix of established players and emerging companies. Major players are focused on innovation, creating advanced diagnostic tools and technologies that enhance disease detection and monitoring in veterinary practices. Collaborations, partnerships, and mergers are common strategies to expand product portfolios and increase market reach. The rise of pet ownership and growing awareness about animal health have driven demand for diagnostic services, prompting companies to invest in research and development. Furthermore, regulatory approvals and the entry of novel technologies such as point-of-care testing are shaping the competitive dynamics, leading to a rapidly evolving market environment.

Top Market Players

- IDEXX Laboratories, Inc.

- Zoetis Inc.

- Neogen Corporation

- Thermo Fisher Scientific Inc.

- Abaxis, Inc.

- Virbac S.A.

- Heska Corporation

- Agilent Technologies, Inc.

- BioMérieux S.A.

- QIAGEN N.V.

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Animal Diagnostics Market Size & Share, By Product...

RD Code : 24