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Animal Diagnostics Market Size
- 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.
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.
| 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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Frequently Asked Questions (FAQ) :
Animal Diagnostics Market Scope
