Market Definition
The Veterinary Infectious Disease Diagnostics Market is a pivotal sector in veterinary healthcare, providing essential tools for the detection, monitoring, and management of infectious diseases affecting animals. This market encompasses the production, development, and distribution of veterinary infectious disease diagnostics—innovative solutions designed to identify pathogens and provide valuable insights for veterinarians and animal health professionals. Veterinary infectious disease diagnostics play a critical role in safeguarding animal populations, ensuring early detection, and facilitating effective disease control measures.
Market Outlook
The global Veterinary infectious disease diagnostics market was valued at USD 1.4 billion in 2021 and it is anticipated to grow up to USD 4.5 billion by 2031, at a CAGR of 11.6% during the forecast period.
The Veterinary Infectious Disease Diagnostics Market is witnessing substantial growth, driven by the increasing awareness of infectious diseases in animals, the emphasis on preventive veterinary care, and the continuous development of advanced diagnostic technologies. As pet ownership rises, and livestock farming intensifies, the market is characterized by ongoing innovations in diagnostic assays, imaging technologies, and the integration of point-of-care testing, reflecting the industry’s commitment to enhancing the health and well-being of animals.
Factors propelling the market include the global concern for zoonotic diseases, the need for rapid and accurate disease identification, and the integration of molecular diagnostics in veterinary practice. Veterinary infectious disease diagnostics contribute to reducing the spread of infectious agents, enabling timely treatment, and supporting animal welfare, positioning the market for sustained growth. As veterinary healthcare evolves to meet the challenges of emerging diseases and changing ecosystems, the Veterinary Infectious Disease Diagnostics Market remains instrumental in providing state-of-the-art solutions for the veterinary community.
While the Veterinary Infectious Disease Diagnostics Market experiences substantial growth, it faces challenges such as the need for broader disease coverage, addressing issues related to diagnostic accuracy, and adapting to the diverse needs of veterinary practices. Overcoming these challenges requires collaboration within the veterinary, diagnostics, and research sectors, investment in advanced technologies, and continuous improvement in diagnostic methodologies.
Opportunities within the market arise from the ability to provide innovative, rapid, and comprehensive infectious disease diagnostic solutions. The convergence of genomics in veterinary diagnostics, advancements in multiplex testing, and the increasing demand for point-of-care diagnostics create opportunities for market players to lead in the advancement of Veterinary Infectious Disease Diagnostics. Proactive engagement with veterinary professionals, research institutions, regulatory authorities, and technology partners, coupled with a commitment to animal health and disease prevention, positions companies to capitalize on the expanding opportunities within the Veterinary Infectious Disease Diagnostics Market.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The report analyses the Global Veterinary infectious disease diagnostics market based on technology, animal type, end-use, and region.
Global Veterinary Infectious Disease Diagnostics by Technology
Based on technology, it is segmented into the immunodiagnostic, molecular diagnostic and others. The immunodiagnostic segment is likely to account for the significant market share during the forecast period. This is attributed to the increased preference for this technology among veterinarians, pet owners, and livestock producers contributes to the immunodiagnostics segment’s large share. The increasing demand for early and accurate diagnosis, the preference for in-house testing, and the growing applications of immunodiagnostics all contribute to the growth of this application segment.
Global Veterinary Infectious Disease Diagnostics Market by Application
Based on application, it is segmented into companion animal and food-producing animals. The companion animal segment is likely to dominate the market during the forecast period. The largest share of the segment is attributed to increasing pet ownership (especially in developed countries), rising penetration of pet insurance, a growing number of veterinary practitioners globally, and increasing animal disease control and disease prevention measures.
Global Veterinary Infectious Disease Diagnostics by End-use
Based on end-use, it is segmented into reference laboratories, veterinary hospitals and clinics, point-of-care/ in-house testing, research institutes and universities. The veterinary hospitals and clinics segment is likely to dominate the Veterinary infectious disease diagnostics market during the forecast period. This is due to the rise in veterinarians, veterinary practitioners, and samples from small and large animal operations that are sent to reference laboratories for diagnostic purposes. Growing consumer awareness of routine and preventative care among pet owners is also anticipated to fuel market expansion.
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Major Players
The key players in the market are IDEXX Laboratories, Inc. (US), Zoetis, Inc. (US), Thermo Fisher Scientific, Inc. (US), Virbac (France), bioMérieux SA (France), Heska Corporation (US), IDvet (France), NEOGEN Corporation (US), QIAGEN N.V. (a part of INDICAL Bioscience) (Europe), Randox Laboratories Ltd. (UK), Agrolabo S.p.A. (Italy), Bio-Rad Laboratories (US), Bionote, Inc. (South Korea), Biogal Galed Labs (Israel), and BioChek (Netherlands) among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
- Market Size in 2022 – $2.4 Billion
- Market Size in 2032 – $12 Billion
- CAGR % – 17.4%
- Historic Period – 2016 – 2021
- Forecast Period – 2023 – 2032
- Base Year – 2022
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