The global veterinary infectious disease diagnostics market was valued at USD 2.29 billion in 2023. This value is estimated to grow at a CAGR of 8.22% from 2023 to 2028 and be worth USD 3.4 billion by 2028.
Most global industries have suffered because of the COVID-19 pandemic. The market for veterinary infectious disease diagnostics is moderately affected by Covid-19. The IDEXX SARS-CoV-2 Real PCR CR Test for dogs, which was available in April 2020, is now being produced by IDEXX Laboratories, Inc. They claimed that the increased consumer awareness of the health of their dogs and data collected from pet owners during COVID-19 were why they started producing kits. This test was once only made available in the North American region, but it is now accessible to all countries. There is no conclusive evidence that SARS-CoV-2 can be transmitted from animals to humans. Additionally, there is no definitive explanation of how various creatures might be impacted.
For the veterinary care of companion animals, only emergency procedures were performed in most entries. As a result, during the forecast period, COVID-19 pandemics are anticipated to have a limited and minor influence on the veterinary infectious disease diagnostics market. According to the Insurance Research Council, the COVID-19 pandemic has increased the adoption of pets. During this pandemic, about 30% of Americans got a pet. Approximately 68 percent of American households have adopted pets. In the upcoming years, we may expect veterinary infectious disease diagnosis services to grow favorably due to the increase in pet adoption.
MARKET DRIVERS:
The growing incidence of rabies and the increasing companion animal population majorly propel the growth of the veterinary infectious disease diagnostics market.
The growing incidence of people getting infected with rabies is one factor driving the market's growth. This disease occurs mainly due to dogs and bats. In 2019, four rabies cases were reported for European travelers as per National Travel Health Network and Centre. Since rabies has been found to have a period of 2-3 months, it spreads slowly throughout the body and reduces the chances for that particular infected human to live.
The market is further anticipated to grow due to the rising adoption rates and an expanding animal population. But numerous studies show that owning a pet is linked to numerous favorable health effects, including normalizing blood pressure, decreased cardiac arrhythmias, increased psychological stability, and enhanced well-being. In addition, increased spending on animal health, rising zoonotic disease incidence and veterinarian numbers, increased infectious animal diseases, point-of-care diagnostic technology advancements, and rising disposable income levels in developing countries contribute to market growth.
Rising demand for foods derived from animals, the expansion of the vet sector, the adoption of measures to prevent and control disease, the rising number of applications from emerging economies, the rise in the population of vegans, and the popularity of pet insurance plans are also estimated to promote the growth rate of the veterinary infectious disease diagnostics market.
MARKET RESTRAINTS:
However, the Lack of awareness regarding animal healthcare and the high cost of advanced diagnostic tests are the restraints affecting the growth of the global veterinary infectious disease diagnostics market. In addition, the rising cost of pet care in developing economies and the unavailability of veterinarians is the biggest challenge to the market's growth.
This research report on the global veterinary infectious disease diagnostics market has been segmented and sub-segmented based on technology, animal type, end-user, and region.
Veterinary Infectious Disease Diagnostics Market – By Animal Type:
The dog segment held the largest market share over the forecast period. The rise in dog ownership as companion animals worldwide is responsible for this. In addition, growing dog health awareness is a significant contributor to the growth of this segment.
Veterinary Infectious Disease Diagnostics Market - By Technology:
The immunodiagnostics category accounted for a significant share of the market in 2022. It is anticipated to expand at the highest rate during the forecast period due to factors including a rise in the cost of animal healthcare, a decrease in sample volume, an increase in the prevalence of infectious diseases in animals, and low sample volume. Another element contributing to the growth of veterinary infectious disease diagnostics is the advantages of using these tests.
Veterinary Infectious Disease Diagnostics Market – By End-User:
Based on the end-user, the reference laboratories segment witnesses the highest market share during the forecast period. The reference laboratories receive many samples from small and large animal practices for analysis, which helps to boost segment growth.
Veterinary Infectious Disease Diagnostics Market – By Region:
Geographically, North America dominated the veterinary infectious disease diagnostics market worldwide in 2022. The regional market growth is driven owing to the rise in various animal-related diseases, availability of veterinary infectious disease diagnostic products in this region, increase in pet ownership, and increase in animal healthcare expenditure. The U.S. currently leads the market in the region. According to the American Pet Products Association's (APPA's) 2022 National Pet Owners Survey, around 70% of U.S. households own a pet. In addition, the Research Training Center for Animal Disease Diagnostics has an agreement with the United States to provide funding for clinical research in that region. Due to these factors, the market will gain growth during the forecast period.
Europe is expected to grow at the highest rate during the forecast period due to increased awareness related to animal health among owners and the presence of a majority of key players. The growing number of Zoonotic diseases in the region, rising awareness of frequent checkups of poultry and pets, and growing penetration of animal insurance have supported the market growth in the European region. Additionally, the support from the government to control the frequent outbreaks of veterinary infectious diseases in the region has further supported the market's growth. Advancements in the ELISE and PCR tests are expected to have opportunities during the forecast period.
The Asia Pacific is predicted to have the highest growth during the forecast period due to the rise in the adoption of pets, demand for food-producing animals, incidences of zoonotic diseases, and growth in pet insurance coverage. On the other hand, due to the factors such as high demand for animal protein, growing medical diagnostic services, and the increasing prevalence of animal diseases, China dominates the market.
TOP COMPANIES IN THIS MARKET:
Biomerieux S.A., Heska Corporation, Idexx Laboratories, Inc., IDVet, Neogen Corporation, Qiagen N.V., Randox Laboratories, Ltd., Thermo Fisher Scientific, Virbac, Zoetis, Inc., Abbott Laboratories, Creative Diagnostics, and Innovative Diagnostics are some of the noteworthy companies operating in the global veterinary infectious disease diagnostics market profiled in this report.
RECENT HAPPENINGS IN THIS MARKET:
Frequently Asked Questions
The global veterinary infectious disease diagnostics market size was worth USD 1.96 billion in 2022.
By 2028, the veterinary infectious disease diagnostics market is anticipated to grow by USD 910 million by 2028.
The APAC veterinary infectious disease diagnostics market is estimated to grow at a CAGR of 10.18% from 2023 to 2028.
Companies playing a notable role in the global veterinary infectious disease diagnostics market are Biomerieux S.A., Heska Corporation, Idexx Laboratories, Inc., IDVet, Neogen Corporation, Qiagen N.V., Randox Laboratories, Ltd., Thermo Fisher Scientific, Virbac, Zoetis, Inc., Abbott Laboratories, Creative Diagnostics, and Innovative Diagnostics.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1800
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region