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Animal Diagnostics Market - By Technology (Immunodiagnostics {ELISA, Immunoassay Analyzers}, Clinical Biochemistry {Glucose Monitoring}, Hematology, Urinalysis), By Application (Parasitology, Pathology), By End-use (Clinics, Hospitals) - Global Forecast to 2032

  • Report ID: GMI2495
  • Published Date: Mar 2023
  • Report Format: PDF

Animal Diagnostics Market Size

Animal Diagnostics Market size was valued at over USD 7.2 billion in 2022. Driven by the rising pet adoption trend worldwide, the market is anticipated to grow at over 9% CAGR from 2023 to 2032. 
 

Animal Diagnostics Market

To understand key trends  

Pet adoption has proliferated in recent years due to their rising social acceptance and the need for companionship many felt during COVID-19 to stave off depression and loneliness. As per the 2021-22 National Pet Owner Survey conducted by American Pet Products Association (APPA), about 70% of US households had a pet, which is equivalent to approximately 90.5 million homes.
 

This sharp rise in the number of pets has created a strong demand for pet health services, stimulated the animal diagnostic sector growth. As per American Veterinary Medical Association, Americans spent more on pets in 2020 than they did it 2019, with veterinary care and product sales reaching USD 31 billion.
 

Steep costs associated with animal tests may constrain industry expansion

Despite a growing demand for animal health services, the prohibitive costs related to veterinary tests may hinder animal diagnostics market progress. The average cost of animal diagnostic testing lies between USD 25 to USD 45, and it differs based on the disease. Since diagnostic procedures require equipment, overhead, staff, and laboratory costs, they are expensive and out of reach for many owners. Moreover, some animal tests need months and even years to conduct and analyze the disease. Some other limitations of pet health also include lengthy procedures, and the high cost of breeding and housing, which further hampers industry share. 
 

Animal Diagnostics Market Analysis

Global Animal Diagnostics Market Share by Technology

To understand key trends  

Based on technology, animal diagnostics market valuation from the immunodiagnostics segment is poised to grow past USD 8 billion by 2032, driven by the rising cases of zoonotic diseases in livestock. Some of the most common zoonoses that affect farm animals include viral respiratory tract infections, leptospirosis, bovine ephemeral fever, infectious bovine rhinotracheitis, and Johne's diseases. As per WHO, around 1 billion cases of death and illness occur annually from zoonoses globally. This creates a strong need for sophisticated animal diagnostics among farmers as to protect their livestock investments. Immunodiagnostics gives vets the ability to detect many autoimmune diseases, making them crucial to the cause. 
 

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global market for animal diagnostics recorded a valuation of over USD 7.2 billion in 2022 and is poised to grow at over 9% CAGR from 2023 to 2032, fueled by the rising pet adoption trend across the globe.
Immunodiagnostics segment is expected to reach over USD 8 billion by 2032, attributed to surging incidence of zoonotic ailments among livestock.
North America animal diagnostics market is set to grow at over 8.5% CAGR from 2023 to 2032, on account of growing pet care spending and favorable regulators scenario for industry players.
The major market players include names such as Zoetis, Randox, Median Diagnostics, Idexx laboratories, Thermo Fischer Scientific Inc., Quiagen, and Heska Corporation, among others.

Animal Diagnostics Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 819
  • Countries covered: 29
  • Pages: 350
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