The global veterinary infectious disease diagnostics market, valued at USD 1.9 billion in 2023, is poised for remarkable growth, with projections indicating it will surpass USD 4.9 billion by 2033. This expansion, as detailed in a recent analysis by Future Market Insights (FMI), reflects a robust compound annual growth rate (CAGR) of 10.1% over the forecast period.
Advancements in diagnostic technologies are central to this growth trajectory. Leading players in the industry are dedicated to enhancing customer experiences through the integration of artificial intelligence (AI) algorithms. These innovations provide veterinarians with cost-effective access to expert-level diagnostic insights, enabling remote specialist evaluations and post-diagnostic consultations. This commitment ensures that veterinary professionals can make comprehensive and timely medical decisions, ultimately benefiting animal healthcare.
“Our commitment is to empower veterinarians as our partners in animal healthcare,” stated a representative from FMI. “We tailor our solutions to seamlessly integrate into existing protocols, enhancing diagnostic precision and treatment efficacy across diverse therapeutic segments.”
Key offerings in this evolving market include advanced veterinary microbiology solutions designed for veterinary laboratories. These encompass high-quality culture mediums, identification tools, susceptibility testing items, and automated instruments and reagents for Johne’s Disease. These innovations cater to a wide range of species treated in veterinary medicine, supported by a vast array of pharmacological, biological, nutritional, and diagnostic products.
As the market continues to grow, FMI remains dedicated to providing insights that facilitate the development of cutting-edge solutions for veterinarians worldwide. This growth not only represents a significant advancement in veterinary diagnostics but also underscores the critical role that technology plays in improving animal healthcare outcomes.
Key Takeaways:
- During the anticipated period, the United States is anticipated to lead the global veterinary infectious disease diagnostics market. In the United States, veterinary diagnostics are meant to assist veterinarians utilize medicines wisely, while also developing methods to combat animal diseases and zoonoses.
- Japan is predicted to dominate the Asia Pacific veterinary infectious diseases diagnostics market throughout the forecast period. In order to improve animal health, major firms in Japan are offering diagnostic services using modern technology to identify novel ailments, particularly exotic diseases. In response to requests from the national and local governments of Japan, this is carried out.
- Owing to its increasing sales and the rising occurrence of animal illnesses, the “immunodiagnostics” technology type is expected to hold the greatest revenue through the forecast period.
- As pet popularity increases and pet insurance becomes more widely used, the “companion animal” animal type, and is the most creative segment for key companies, accounting for a sizable portion.
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Competitive Landscape:
The global veterinary infectious disease diagnostics market share is fragmented as a result of both domestic and international competitors. Several companies command substantial market shares in their respective specialty areas. Large corporations generally give natural events like product approvals and the rise in pet adoption around the world a significant amount of importance. The market for veterinary infectious disease diagnostics is predicted to expand quickly as a result of these factors.
Key Players:
- Zoetis Inc.
- Thermo Fisher Scientific
- Virbac
- Biomerieux SA
- Heska Corporation
- IDvet
- NEOGEN Corporation
- QIAGEN N.V.
- Randox Laboratories Ltd.
Recent Developments:
- In September 2018, Equine Progesterone, a test for determining the progesterone level in horses, was released, according to Eurolyser Diagnostica GmbH.
- In January 2019, the Catalyst One and Catalyst Dx analyzers, an in-house testing technique for the measurement of progesterone levels in dogs, were launched by IDEXX Laboratories, Inc.
Key Segments Profiled in the Veterinary Infectious Disease Diagnostics Market Survey:
By Technology:
- Immunodiagnostics
- Molecular Diagnostic
- Others
By Animal Type:
- Companion Animal
- Food-producing Animals
By End User:
- Reference Laboratories
- Veterinary Hospitals & Clinics
- Point-of-Care
- Research Institutes & Universities
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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