Animal Diagnostics Market By Type (Farm Animals and Companion Animals), By Application (Immunodiagnostics, Clinical Biochemistry, Haematology, Molecular Diagnostics, and Urinalysis), and By Region- Market Trends, Analysis, and Forecast till 2030

Animal Diagnostics Market accounted for USD 4.76 Billion in 2020 and is estimated to be USD 10.78 Billion by 2030 and is anticipated to register a CAGR of 8.2%

Animal diagnosis is the field of study in which it accounts with the diagnosis of different diseases of animal infected through various factors (external and internal), specifically due to microorganisms such as bacteria, viruses and fungi. Animal disease diagnosis act as bridge between the cause and cure of any disease, and therefore plays an important role in disease management and prevention. A small outcome of disease can impose threat to entire animal community. Some of the veterinarians incorporate these diagnostic tools into animals to detect the disease, monitor the disease progression as well as to identify the disease-causing agent in healthy animals. The animal diagnostic kits used in the identification of disease-causing agents are acknowledged under veterinary biologics by the United States Department of Agriculture- Animal and Plant Health Inspection Service (USDA-APHIS). It is regulated by the USDA’s Centre for Veterinary Biologics (USDA-CVB).  The long procedure for the approval may create a burden on market players as well as there may be delay in launching the new product in the market. 

Driver: Growth in the companion animal population

An uprise in the overall companion animal population and adoption rate has been visualized across the globe. According to the several publications, having a companion animal has several health benefits, such as reduced cardiac arrhythmias, normalizing of blood pressure, decreased anxiety, greater psychological stability, and improved well-being. The rise in pet population is predicted to drive the demand related pet care products and services, which in turn, will provide the growth of dependent industries such as veterinary diagnostics. The income spent on pet healthcare is expected to promote the industry progression.

Restraint: Rising pet care costs

The insurance market of pet is rising day-by-day, but still there is a pitfall in treatment of animals. As a result, majority of animal owners generally bear some of the costs of treatment. As the cost of insurance increases, the cost of veterinary treatment also rises. Additionally, the lower revenue in these professions compared to high profiled degree professions, might put a pressure on veterinary professionals to increase their fees. High pet care costs directly had a negative impose on the growth of this market.

Animal Diagnostics Market is segmented based on type, application, and region.

On the basis of type, market is sub-segmented into farm animals and companion animals. Based on the application, market is sub-segmented immunodiagnostics, clinical biochemistry, hematology, molecular diagnostics , and urinalysis. On the basis of region, market is sub-segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Regional Insights:

On region the global animal diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America animal diagnostics market is estimated to dominate the market during the forecast year, this can be achieved by multiple factors such as high pet population, increasing use of pet care insurance services and accessibility to highly technological veterinary care products. Germany being one of the dominating countries in terms of animal welfare initiatives and the government has imposed several rules and regulations to boost its animal welfare such as the German Animal Welfare Law.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global animal diagnostics market report based on type, application, and region.

Global Animal Diagnostics Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

Global Animal Diagnostics Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating in the global animal diagnostics market includes Thermo Fisher Scientific, IDEXX Laboratories, Inc., Heska Corporation, Neogen Chemicals, Randox Laboratories, Qiagen, Virbac, Bio-Rad Laboratories Inc., Indicial Bioscience, Bio panda Reagents. For instance, in November 2021, FUJIFILM Europe aims on expanding its veterinary diagnostic customer portfolio with some of its products and services. In March 2021, Zomedica Corp., produces diagnostics products for cats and dogs. These prominent participants focus on building strong partnerships, new product launch and its commercialization for the expansion of this industry. Furthermore, these market players are investing heavily in research to launch advance products and maximize their revenue

• Thermo Fisher Scientific, Inc.
• IDEXX Laboratories Inc.
• Heska Corporation
• Neogen Chemicals Inc.
• Randox Laboratories
• Qiagen
• Virbac
• Bio – Rad Laboratories Inc.
• Indicial Biosciences
• Biopanda Reagents