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Veterinary Diagnostic Services Market – By Animal Type (Companion [Dog, Cats, Horses], Livestock [Cattle, Poultry, Swine]), Type (POC, Laboratory-based), Services (Clinical Biochemistry, Hematology, Immunodiagnostics), End-user – Global Forecast (2024 – 2032)
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Veterinary Diagnostic Services Market
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Premium Report Details
Base Year: 2023
Companies covered: 12
Tables & Figures: 313
Countries covered: 22
Pages: 180
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Veterinary Diagnostic Services Market Size
Veterinary Diagnostic Services Market size was valued at USD 36.1 billion in 2023 and is estimated to grow at 6.3% CAGR from 2024 to 2032. Veterinary diagnostic services include tests and analyses to detect diseases and monitor animal health. These services, which encompass blood tests, imaging, genetic testing, and pathology, are essential for diagnosing conditions, guiding treatments, and ensuring animal welfare. They play a crucial role in supporting livestock productivity, pet health, and overall food safety.
The veterinary diagnostics services market has grown significantly due to the increasing animal population, rising incidence of zoonotic diseases, and higher disposable incomes in developing regions. For example, Canada's 2021 Census of Agriculture reported a 3.4% increase in hogs and pigs from the previous year, totaling 14.6 million in 2021. Similarly, the APPA's National Pet Owners Survey 2021-2022 revealed that annual expenditure on routine veterinary visits is USD 242 for dogs and USD 178 for cats in the U.S. Increased pet and livestock adoption and rising animal healthcare spending are driving the market's growth.
The market now offers a wide range of diagnostic modalities and tools, providing veterinarians and pet owners with various options for disease detection and monitoring. While traditional methods like physical exams and basic lab tests remain important, advanced diagnostic technologies, such as veterinary point-of-care diagnostics (POC), are expected to create significant market opportunities. These advancements in diagnostic tests and service implementation are likely to expand the demand for veterinary diagnostic services in the coming years.
Veterinary Diagnostic Services Market Trends
The increase in zoonotic disease cases among animals is driving the demand for advanced diagnostics, expanding the market for veterinary diagnostic services. Zoonotic diseases, which can transfer from animals to humans, pose significant health risks. As awareness of these risks grows, so does the need for preventive measures, boosting the demand for comprehensive veterinary diagnostics. This helps monitor and control the spread of these pathogens, contributing to the growth of the diagnostic services market.
Additionally, increased spending on animal healthcare, the rising adoption of pet insurance, advancements in diagnostic technologies, government support, and strategic expansions by key industry players are further driving the demand for veterinary diagnostic services.
Veterinary Diagnostic Services Market Analysis
Based on the animal type, the market is categorized as companion animals and livestock animals. The companion animal segment is further categorized into dogs, cats, horses, and other companion animals. This segment is set to lead the market, accounting for the largest revenue of USD 23.1 billion in 2023, anticipating its dominance throughout the forecast period with a CAGR of 6.2%.
Based on type, the veterinary diagnostic services market is classified into point-of-care and laboratory-based. The laboratory-based segment holds the largest market share of 62.7% in 2023 and is expected to maintain dominance throughout the analysis period.
Based on the services, the veterinary diagnostic services market is segmented into clinical biochemistry, hematology, immunodiagnostics, imaging, molecular diagnostics, and other services. The immunodiagnostics segment is projected to reach 28.3% by 2032.
Based on the end-user, the veterinary diagnostic services market is segmented into diagnostic laboratories, veterinary clinics, veterinary hospitals, and other end-users. The veterinary clinics segment dominated the market with the highest share in 2023.
U.S. dominated the North American veterinary diagnostic services market accounting for USD 14.9 billion in 2023 and is anticipated to show considerable growth over the analysis period.
Germany exhibited a high growth potential in the European veterinary diagnostic services market.
The Asia Pacific veterinary diagnostic services market is poised for rapid growth with a CAGR of 6.7% during the forecast period.
Veterinary Diagnostic Services Market Share
The market is characterized by a diverse array of players offering a range of diagnostic technologies and services. Key competitive factors include technological advancements in imaging, molecular diagnostics, and point-of-care testing fuelling the diagnostic services demand. Companies compete based on product innovation, accuracy of diagnostic tests, and geographic reach. Strategic partnerships, mergers, and acquisitions are common strategies to enhance market presence and expand service offerings.
Veterinary Diagnostic Services Market Companies
Few of the prominent players operating in the veterinary diagnostic services industry include:
Veterinary Diagnostic Services Industry News:
The veterinary diagnostic services market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Animal Type
Market, By Type
Market, By Services
Market, By End-user
The above information is provided for the following regions and countries: