Product Code: GVR-4-68040-118-3
Veterinary Diagnostic Services Market Growth & Trends:
The global veterinary diagnostic services market size is projected to reach USD 24.31 billion by 2030 and is anticipated to register a CAGR of 8.28% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing need for early disease diagnosis due to growing concern about animal health is one of the key factors driving the market growth. Furthermore, the rising prevalence of chronic disorders, including cancer, obesity, and diabetes, and the need for effective disease diagnosis in animals is expected to supplement market growth. For instance, as per the American Kennel Club report published in February 2020, 56% of canines are recorded as obese in the U.S. The risk of joint problems, developing cancer, diabetes, and various other chronic diseases is significantly increased by obesity. The adoption of veterinary diagnostic services increased because of the regular diagnosis of glucose levels due to the pet owners' growing concern. In addition, the rising demand for point-of-care treatments and improved diagnostic tests is fueling the market's growth. It includes a variety of dermatology tests to detect dermatophytes, ELISA, and PCR for detecting parasites and viruses, including parvovirus, leishmania, hepatitis, coronavirus, etc.
In addition, the rising prevalence of zoonotic diseases such as avian influenza in livestock animals is increasing the demand for veterinary diagnostic services, driving the growth of the market. For instance, in April 2022, the Government of Canada issued a report on avian influenza; according to the report, multiple bird species, including turkeys, ducks/chickens, geese, and peafowls, were infected with avian influenza in 33 EU countries in March 2022. All livestock species were affected by the disease, which caused an increase in molecular diagnostic tests for the disease's diagnosis, leading to increased demand for in-vitro veterinary diagnostic services. Thus, the growing demand for in-vitro and in-vivo diagnostic services is contributing to market growth.
The pandemic had a favorable effect on the veterinary diagnostic services industry, induced by the sudden rise in the number of people owning cats and dogs, animal humanization movements, and the expansion of telemedicine platforms.Government rules forced the suspension of numerous healthcare services, particularly veterinary diagnostics services, which had a significant impact on the market for veterinary diagnostics as a result of the COVID-19 outbreak. For instance, according to a JAAWS article from February 2022, COVID-19 caused the closure of 70% of veterinary hospitals in Canada & the U.S. in 2020. To reduce the COVID-19 infection, veterinary diagnostic services were suspended, which initially hindered the growth of the market. Furthermore, the pandemic increased prognostic awareness among pet owners to prevent pet diseases with timely treatments. This factor is expected to propel the market growth in the long run.
The rapidly aging pet population and the growing risk of various chronic diseases associated with age are among the key factors likely to drive routine diagnosis and respective high expenditure on pets by owners. According to VCA Animal Hospitals, veterinarians often prescribe senior pets to undergo wellness testing programs, including routine check-ups, complete blood count, biochemistry profile, urinalysis, and thyroid hormone testing, to detect ongoing or prognostic health problems. Moreover, the growing demand for advanced veterinary diagnostic tests for senior pets in developed and developing countries is also contributing to market growth.
Veterinary Diagnostic Services Market Report Highlights:
- In terms of test type, the in vitro diagnosis segment dominated the market in 2023 with a revenue share of over 86.45%. The growing number of avian influenza cases in livestock animals is increasing the demand for in-vitro diagnostic tests, which is driving the growth of the segment. The in vivo diagnosis segment, on the other hand, is projected to witness the fastest CAGR of over 8% during the forecast period
- In terms of animal type, the companion animals segment held the largest market share in 2023 with a revenue share of over 59.36%. In contrast, the production animals segment is estimated to witness the fastest CAGR during the forecast period
- In terms of the testing category, the clinical chemistry segment dominated the market in 2023 with a revenue share of over 23.40%. The cytopathology segment is anticipated to witness the fastest CAGR of approximately 11% during the forecast period due to emerging applications of AI in veterinary medicine
- In terms of sector, the private sector held the largest market share in 2023 and is anticipated to grow at the fastest CAGR over the forecast period
- In terms of service provider, the veterinary hospital/clinic laboratories segment held the largest revenue share in 2023, owing to the increasing demand for diagnostics and readily accessible advanced diagnostic technologies in hospitals.
- Based on type, the point-of-care segment dominated the market in 2023 with a revenue share of over 57%. The laboratory-based segment is anticipated to grow at the fastest CAGR during the forecast period
- Based on region, in 2023, North America held the largest revenue share of 38.60% in the market. The Asia Pacific region is projected to grow at the fastest CAGR of over 15% during the forecast period
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources
- 1.3.4. Primary Research
- 1.4. Information/Data Analysis
- 1.5. Market Formulation & Visualization
- 1.6. Data Validation & Publishing
- 1.7. Model Details
- 1.7.1. Commodity flow analysis
- 1.7.2. Global Market: CAGR Calculation
- 1.8. List of Secondary Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Veterinary Diagnostic Services Market Variable Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market
- 3.1.2. Ancillary Market
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.1.1. Increasing Pet Population & Rising Pet Ownership
- 3.2.1.2. Rising Awareness of Early Disease Diagnosis
- 3.2.1.3. Increasing Adoption of Pet Insurance
- 3.2.1.4. Technological Advancements in Veterinary Diagnosis
- 3.2.2. Market Restraint Analysis
- 3.2.2.1. Shortage Of Board-Certified Veterinarians
- 3.2.2.2. Lack of Skilled Professionals
- 3.2.3. Market Opportunity Analysis
- 3.2.4. Market Challenge Analysis
- 3.3. Veterinary Diagnostic Services Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of suppliers
- 3.3.1.2. Bargaining power of buyers
- 3.3.1.3. Threat of substitution
- 3.3.1.4. Threat of new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political & Legal landscape
- 3.3.2.2. Economic and Social landscape
- 3.3.2.3. Technological landscape
- 3.3.2.4. Environmental landscape
- 3.3.3. Regulatory Framework
- 3.3.4. Estimated Medicalization Rate
- 3.3.5. Estimated Animal Population, by key countries & Key Species, 2023
- 3.3.6. COVID-19 Impact Analysis
Chapter 4. Veterinary Diagnostic Services Market : By Test Type Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Veterinary Diagnostic Services Market : By Test type Movement Analysis
- 4.3. Veterinary Diagnostic Services Market Size & Trend Analysis, by test type, 2018 to 2030 (USD Million)
- 4.3.1. In-Vitro Diagnosis
- 4.3.1.1. In-Vitro Diagnosis Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.3.2. In vivo Diagnosis
- 4.3.2.1. In vivo diagnosis Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Veterinary Diagnostic Services Market: Animal Type Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Veterinary Diagnostic Services Market : Animal type Movement Analysis
- 5.3. Veterinary Diagnostic Services Market Size & Trend Analysis, by animal type, 2018 to 2030 (USD Million)
- 5.4. Companion Animals
- 5.4.1. Companion Animals Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4.2. Dogs
- 5.4.2.1. Dogs Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4.3. Cats
- 5.4.3.1. Cats Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4.4. Horses
- 5.4.4.1. Horses Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4.5. Others
- 5.4.5.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5. Production Animals
- 5.5.1. Production Animals Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5.2. Cattle
- 5.5.2.1. Cattle Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5.3. Poultry
- 5.5.3.1. Poultry Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.6. Swine
- 5.6.1. Swine Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.6.2. Others
- 5.6.2.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Veterinary Diagnostic Services Market : By testing category Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Veterinary Diagnostic Services Market : By testing category Movement Analysis
- 6.3. Veterinary Diagnostic Services Market Size & Trend Analysis, by testing category, 2018 to 2030 (USD Million)
- 6.3.1. Clinical chemistry
- 6.3.1.1. Clinical chemistry Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. Microbiology
- 6.3.2.1. Microbiology Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.3. Parasitology
- 6.3.3.1. Parasitology Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.4. Histopathology
- 6.3.4.1. Histopathology Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.5. Hematology
- 6.3.5.1. Hematology Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.6. Immunology & serology
- 6.3.6.1. Immunology & serology Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.7. Imaging
- 6.3.7.1. Imaging Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.8. Molecular Diagnostics
- 6.3.8.1. Molecular diagnostics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.9. Others
- 6.3.9.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Veterinary Diagnostic Services Market : By Sector Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Veterinary Diagnostic Services Market : By Sector Movement Analysis
- 7.3. Veterinary Diagnostic Services Market Size & Trend Analysis, by Sector, 2018 to 2030 (USD Million)
- 7.3.1. Public
- 7.3.1.1. Public Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.2. Private
- 7.3.2.1. Private Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Veterinary Diagnostic Services Market : By Service Provider Estimates & Trend Analysis
- 8.1. Segment Dashboard
- 8.2. Veterinary Diagnostic Services Market : By service provider Movement Analysis
- 8.3. Veterinary Diagnostic Services Market Size & Trend Analysis, by service provider, 2018 to 2030 (USD Million)
- 8.3.1. Veterinary Hospital/Clinic Laboratories
- 8.3.1.1. Veterinary Hospital/Clinic Laboratories Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.3.2. Reference Laboratories
- 8.3.2.1. Reference Laboratories Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 9. Veterinary Diagnostic Services Market : By type Estimates & Trend Analysis
- 9.1. Segment Dashboard
- 9.2. Veterinary Diagnostic Services Market : By type Movement Analysis
- 9.3. Veterinary Diagnostic Services Market Size & Trend Analysis, by type, 2018 to 2030 (USD Million)
- 9.3.1. Point of care
- 9.3.1.1. Point of care Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.3.2. Laboratory based
- 9.3.2.1. Laboratory based Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 10. Veterinary Diagnostic Services Market : Regional Estimates & Trend Analysis
- 10.1. Regional Dashboard
- 10.2. Veterinary Diagnostic Services Market Share, By Region, 2023 & 2030, USD Million
- 10.3. Regional Outlook
- 10.4. North America
- 10.4.1. North America Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.4.2. U.S.
- 10.4.2.1. Key Country Dynamics
- 10.4.2.2. U.S. Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.4.3. Canada
- 10.4.3.1. Key Country Dynamics
- 10.4.3.2. Canada Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.4.4. Mexico
- 10.4.4.1. Key Country Dynamics
- 10.4.4.2. Mexico Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.5. Europe
- 10.5.1. Europe Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.5.2. UK
- 10.5.2.1. Key Country Dynamics
- 10.5.2.2. UK Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.5.3. Germany
- 10.5.3.1. Key Country Dynamics
- 10.5.3.2. Germany Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.5.4. France
- 10.5.4.1. Key Country Dynamics
- 10.5.4.2. France Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.5.5. Italy
- 10.5.5.1. Key Country Dynamics
- 10.5.5.2. Italy Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.5.6. Spain
- 10.5.6.1. Key Country Dynamics
- 10.5.6.2. Spain Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.5.7. Denmark
- 10.5.7.1. Key Country Dynamics
- 10.5.7.2. Denmark Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.5.8. Sweden
- 10.5.8.1. Key Country Dynamics
- 10.5.8.2. Sweden Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.5.9. Norway
- 10.5.9.1. Key Country Dynamics
- 10.5.9.2. Norway Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.5.10. Netherlands
- 10.5.10.1. Key Country Dynamics
- 10.5.10.2. Netherlands Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6. Asia Pacific
- 10.6.1. Asia Pacific Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.2. Japan
- 10.6.2.1. Key Country Dynamics
- 10.6.2.2. Japan Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.3. China
- 10.6.3.1. Key Country Dynamics
- 10.6.3.2. China Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.4. India
- 10.6.4.1. Key Country Dynamics
- 10.6.4.2. India Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.5. Australia
- 10.6.5.1. Key Country Dynamics
- 10.6.5.2. Australia Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.6. South Korea
- 10.6.6.1. Key Country Dynamics
- 10.6.6.2. South Korea Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.7. Thailand
- 10.6.7.1. Key Country Dynamics
- 10.6.7.2. Thailand Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.7. Latin America
- 10.7.1. Latin America Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.7.2. Brazil
- 10.7.2.1. Key Country Dynamics
- 10.7.2.2. Brazil Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.7.3. Argentina
- 10.7.3.1. Key Country Dynamics
- 10.7.3.2. Argentina Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.8. Middle East & Africa
- 10.8.1. Middle East & Africa Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.8.2. South Africa
- 10.8.2.1. Key Country Dynamics
- 10.8.2.2. South Africa Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.8.3. Saudi Arabia
- 10.8.3.1. Key Country Dynamics
- 10.8.3.2. Saudi Arabia Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.8.4. UAE
- 10.8.4.1. Key Country Dynamics
- 10.8.4.2. UAE Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.8.5. Kuwait
- 10.8.5.1. Key Country Dynamics
- 10.8.5.2. Kuwait Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 11. Competitive Landscape
- 11.1. Market Participant Categorization
- 11.2. Company Market Position Analysis/ Heap Map Analysis
- 11.3. Company Profiles
- 11.3.1. Zoetis Services LLC
- 11.3.1.1. Participant's Overview
- 11.3.1.2. Financial Performance
- 11.3.1.3. Service Benchmarking
- 11.3.1.4. Strategic Initiatives
- 11.3.2. Antech Diagnostics, Inc. (Mars, Inc.)
- 11.3.2.1. Participant's Overview
- 11.3.2.2. Financial Performance
- 11.3.2.3. Service Benchmarking
- 11.3.2.4. Strategic Initiatives
- 11.3.3. IDEXX
- 11.3.3.1. Participant's Overview
- 11.3.3.2. Financial Performance
- 11.3.3.3. Service Benchmarking
- 11.3.3.4. Strategic Initiatives
- 11.3.4. Neogen Corporation
- 11.3.4.1. Participant's Overview
- 11.3.4.2. Financial Performance
- 11.3.4.3. Service Benchmarking
- 11.3.4.4. Strategic Initiatives
- 11.3.5. Agrolabo S.p.A
- 11.3.5.1. Participant's Overview
- 11.3.5.2. Financial Performance
- 11.3.5.3. Service Benchmarking
- 11.3.5.4. Strategic Initiatives
- 11.3.6. ESAOTE SPA
- 11.3.6.1. Participant's Overview
- 11.3.6.2. Financial Performance
- 11.3.6.3. Service Benchmarking
- 11.3.6.4. Strategic Initiatives
- 11.3.7. Thermo Fisher Scientific, Inc.
- 11.3.7.1. Participant's Overview
- 11.3.7.2. Financial Performance
- 11.3.7.3. Service Benchmarking
- 11.3.7.4. Strategic Initiatives
- 11.3.8. NationWide Laboratories
- 11.3.8.1. Participant's Overview
- 11.3.8.2. Financial Performance
- 11.3.8.3. Service Benchmarking
- 11.3.8.4. Strategic Initiatives
- 11.3.9. Ellie Diagnostics, Ltd.
- 11.3.9.1. Participant's Overview
- 11.3.9.2. Financial Performance
- 11.3.9.3. Service Benchmarking
- 11.3.9.4. Strategic Initiatives
- 11.3.10. FUJIFILM Corporation
- 11.3.10.1. Participant's Overview
- 11.3.10.2. Financial Performance
- 11.3.10.3. Service Benchmarking
- 11.3.10.4. Strategic Initiatives
- 11.3.11. Strategy Mapping
- 11.3.11.1. Mergers & Acquisitions
- 11.3.11.2. Partnerships & Collaborations
- 11.3.11.3. Expansion
- 11.3.11.4. Product launch
- 11.3.11.5. Others
- 11.4. List of other Key players