Veterinary diagnostics are regarded as a crucial component of managing and preventing disease outbreaks in animals. The importance of preventing and controlling zoonotic diseases is rising, which is accelerating market expansion. Additionally, veterinarians have been gradually boosting the number of diagnostic tests. Additionally, a number of developments in diagnostics and the growing acceptance of novel techniques in most laboratories are propelling market expansion.
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Data Bridge Market Research analyses that the U.S. Veterinary Diagnostics Market is expected to reach around 9.80% in the mentioned forecast period. The market was valued at USD 3.31 billion in 2022 and would grow to USD 6.99 billion by 2030. Several diagnostics advancements and the increasing acceptance of innovative techniques in most laboratories are boosting market growth. For instance, FORCE Technology launched a new subsidiary, AeroCollect A/S, in 2021. AeroCollect technology with simple air samples provides a picture of the diseases.
Key Findings of the Study
Increasing adoption of diagnostic testing by veterinarians is expected to drive the market's growth rate
Veterinarians have been slowly increasing the frequency of diagnostic testing. This trend became more popular during the COVID-19 when hospitals had to focus mainly on essential pet services. Persistent growth in the population of pets and the higher penetration of veterinary diagnostic products at veterinary clinics further increase market growth. For instance, IDEXX showed huge utilization of diagnostics, which witnessed a 21% surge in same-store diagnostic revenue per practice, and a 15% surge in same-store veterinary clinic revenue in its Q1 2021 earning call. Thus, it boosts the market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Consumables, Reagents and Kits, Instruments and Devices), Species (Bovine, Camelid, Caprine, Canine and Feline, Equine, Ovine, Porcine, Avian, Others), Testing Category (Analytical Services, Diagnostic Imaging, Bacteriology, Pathology, molecular diagnostic, Immunoassays, Parasitology, Serology, Virology), Disease Type (Infectious Diseases, Non-Infectious Diseases, Hereditary, Congenital, General Ailments, Structural and Functional Diseases), End User (Hospitals, Specialty Clinics, Academic and Research Institutes, and Others)
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Market Players Covered
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General Electric (U.S.), BIOMÉRIEUX (France), Heska Corporation (U.S.), IDEXX (U.S.), Neogen Corporation (U.S.), INDICAL BIOSCIENCE GmbH (Germany), Randox Laboratories Ltd. (U.K.), Thermo Fisher Scientific (U.S.), Virbac (France), Zoetis (U.S.), Creative Diagnostics (U.S.), DRG INSTRUMENTS GMBH (Germany), Chembio Diagnostic Systems, Inc. (U.S.), Eurofins Scientific (Luxembourg), Zoetis Services LLC (U.S.), Agrolabo S.p.A. (Italy), Abbott (U.S.), Danaher (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The U.S. veterinary diagnostics market is segmented on the basis of product, species, testing category, disease type and end user.
- On the basis of product, the U.S. Veterinary diagnostics market is segmented into consumables, reagents and kits, instruments and devices
- On the basis of species, the U.S. Veterinary diagnostics market is segmented into bovine, camelid, caprine, canine and feline, equine, ovine, porcine, avian, others
- On the basis of testing category, the U.S. Veterinary diagnostics market is segmented into analytical services, diagnostic imaging, bacteriology, pathology, molecular diagnostic, immunoassays, parasitology, serology, virology
- On the basis of disease type, the U.S. Veterinary diagnostics market is segmented into infectious diseases, non-infectious diseases, hereditary, congenital, general ailments, structural and functional diseases
- On the basis of end user, the U.S. Veterinary diagnostics market is segmented into hospitals, specialty clinics, academic and research institutes, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the major u.s. veterinary diagnostics market players in U.S. veterinary diagnostics market are Neogen Corporation (U.S.), INDICAL BIOSCIENCE GmbH (Germany), Randox Laboratories Ltd. (U.K.), Thermo Fisher Scientific (U.S.), Virbac (France), Zoetis (U.S.)
Market Developments
- In 2022, PepiPets launched a new mobile diagnostic testing service. Launching this new in a company release will allow clients to receive diagnostic testing at home for their pets. PepiPets hopes the at-home testing service will help pets feel more comfortable with the procedure and save time on travel to an in-person office visit.
- In 2022, Companion Animal Health promulgated a strategic agreement, including an equity investment, with HT BioImaging to co-brand and exclusively sell the HTVet product in the US and Canada.
- In 2021, Heska Corporation acquired Biotech Laboratories to strengthen its portfolio of rapid assay point-of-care diagnostics.
- In January 2021, Heska Corporation acquired Lacuna Diagnostics to strengthen its portfolio of point-of-care digital cytology technology and telemedicine services.
- In 2020, Zoetis acquired Virtual Recall to strengthen its product portfolio and help veterinary practices improve their service offerings and communication with pet owners.
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