Veterinary Infectious Disease Diagnostic Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Veterinary Infectious Disease Diagnostic Market Trends and Forecast

The future of the global veterinary infectious disease diagnostic market looks promising with opportunities in the reference laboratory, veterinary laboratory and clinic, point of care/ in house testing, and research institute and university end use industries. The global veterinary infectious disease diagnostic market is expected to reach an estimated $2.4 billion by 2028 with a CAGR of 8.6% from 2023 to 2028. The major drivers for this market are expenditure on animal health, upsurge in zoonotic disease occurrences, rising veterinarian count, technological progress in point-of-care diagnostics, and increasing disposable income levels in developing areas.

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Veterinary Infectious Disease Diagnostic Market by Segment

The study includes trends and forecast for the global veterinary infectious disease diagnostic market by technology, animal type, end use industry, and region as follows:

Veterinary Infectious Disease Diagnostic Market by Technology [Shipment Analysis by Value from 2017 to 2028]:

• Immunodiagnostics
• Molecular Diagnostics
• Others

Veterinary Infectious Disease Diagnostic Market by Animal Type [Shipment Analysis by Value from 2017 to 2028]:

• Companion Animals
• Food Producing Animals
• Others

Veterinary Infectious Disease Diagnostic Market by End Use Industry [Shipment Analysis by Value from 2017 to 2028]:

• Reference Laboratories
• Veterinary Laboratories and Clinics
• Point of Care/ In House Testing
• Research Institutes and Universities

Veterinary Infectious Disease Diagnostic Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Veterinary Infectious Disease Diagnostic Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies veterinary infectious disease diagnostic companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the veterinary infectious disease diagnostic companies profiled in this report includes-

• Heska Corporation
• IDEXX
• Neogen Corporation
• Randox Laboratories
• Thermo Fisher Scientific
• Virbac
• Zoetis
• Creative Diagnostics
• Eurofins Technologies
• Danaher

Veterinary Infectious Disease Diagnostic Market Insights

• Lucintel forecast that immunodiagnostics is expected to witness higher growth over the forecast period due to an increase in the occurrence of infectious ailments among animals, escalation in spending on animal healthcare, as well as the advantages linked to the tests done on the animals. .
• Within this market, reference laboratories will remain the largest segment due to rising count of veterinary professionals, increasing rate of pet adoption, and significantly growing market for veterinary reference laboratories.
• North America will remain the largest region over the forecast period due to escalating number of food-producing animals, rising consumption of meat and dairy products, increasing veterinary healthcare spending, and surge in pet ownership in the region.

Features of the Global Veterinary Infectious Disease Diagnostic Market

• Market Size Estimates: Veterinary infectious disease diagnostic market size estimation in terms of value ($B).
• Trend and Forecast Analysis: Market trends (2017 to 2022) and forecast (2023 to 2028) by various segments and regions.
• Segmentation Analysis: Veterinary infectious disease diagnostic market size by various segments, such as by technology, animal type, end use industry, and region in terms of value ($B).
• Regional Analysis: Veterinary infectious disease diagnostic market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different technologies, animal types, end use industries, and regions for the veterinary infectious disease diagnostic market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the veterinary infectious disease diagnostic market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the veterinary infectious disease diagnostic market size?

Answer: The global veterinary infectious disease diagnostic market is expected to reach an estimated $2.4 billion by 2028.

Q2.What is the growth forecast for veterinary infectious disease diagnostic market?

Answer: The global veterinary infectious disease diagnostic market is expected to grow with a CAGR of 8.6% from 2023 to 2028.

Q3.What are the major drivers influencing the growth of the veterinary infectious disease diagnostic market?

Answer: The major drivers for this market are expenditure on animal health, an upsurge in zoonotic disease occurrences, rising veterinarian count, technological progress in point-of-care diagnostics, and increasing disposable income levels in developing areas.

Q4. What are the major segments for veterinary infectious disease diagnostic market?

Answer: The future of the global veterinary infectious disease diagnostic market looks promising with opportunities in the reference laboratory, veterinary laboratory and clinic, point of care/ in house testing, and research institute and university end use industries.

Q5. Who are the key veterinary infectious disease diagnostic companies?

Answer: Some of the key veterinary infectious disease diagnostic companies are as follows:

• Heska Corporation
• IDEXX
• Neogen Corporation
• Randox Laboratories
• Thermo Fisher Scientific
• Virbac
• Zoetis
• Creative Diagnostics
• Eurofins Technologies
• Danaher

Q6. Which veterinary infectious disease diagnostic market segment will be the largest in future?

Answer: Lucintel forecasts that immunodiagnostics is expected to witness higher growth over the forecast period due to increase in the occurrence of infectious ailments among animals, escalation in spending on animal healthcare, as well as the advantages linked to the tests done on the animals.

Q7. In veterinary infectious disease diagnostic market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to escalating number of food-producing animals, rising consumption of meat and dairy products, increasing veterinary healthcare spending, and surge in pet ownership in the region.

Q8.Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the global veterinary infectious disease diagnostic market by technology (immunodiagnostics, molecular diagnostics, and others), animal type (companion animals, food producing animals, and others), end use industry (reference laboratories, veterinary laboratories and clinics, point of care / in house testing, research institutes and universities), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q11. What M&A activity has occurred in the last five years and what has its impact been on the industry?