PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1788513
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1788513
The global veterinary diagnostics market is projected to reach USD 5.36 billion by 2030 from USD 3.68 billion in 2025, at a CAGR of 7.8% during the forecast period. A key growth driver for market growth includes rising ownership and the domestication of animals, particularly in urban and high-income regions.
Scope of the Report | |
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Years Considered for the Study | 2024-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD billion) |
Segments | BY PRODUCT, TECHNOLOGY, ANIMAL TYPE, END USER |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Pet owners require high-quality animal medical care, including preventive diagnostics, routine health screenings, and disease monitoring. The increasing prevalence of zoonotic diseases, such as avian influenza, leptospirosis, brucellosis, and rabies, also contributes to the market's growth. Technological advancements in real-time PCR, next-generation sequencing (NGS), microfluidics, portable diagnostic analyzers, and artificial intelligence are enhancing the accuracy, speed, and accessibility of diagnostic testing.
By product, the instruments segment is projected to grow at the highest CAGR during the forecast period.
By product, the market is segmented into consumables and instruments. The instruments segment is projected to grow at the highest CAGR during the forecast period. The instruments include diagnostic test analyzers and portable analyzers. These analyzers measure the physiologically significant substances present in body fluids (blood, serum, plasma, and urine) and feces of animals. Increasing technological advancements and the development of AI-enabled instruments for veterinary diagnostics are expected to fuel the market adoption in this segment during the forecast period.
By technology, the molecular diagnostics segment is estimated to grow at the highest CAGR during the forecast period.
By technology, the molecular diagnostics segment is expected to grow at the highest CAGR during the forecast period. This segment includes PCR tests, microarray tests, and nucleic acid sequencing technologies. The high growth rate of this segment is attributed to the increasing incidence of infectious and zoonotic diseases, which further increases the demand for precise and rapid diagnostic solutions. Molecular diagnostics allow the identification of specific pathogens, genetic disorders, and antimicrobial resistance, which is critical for the timely treatment of various diseases. Technological advancements in molecular diagnostic tests, such as PCR and next-generation sequencing, also contribute to the market's growth.
By region, the Asia Pacific market is expected to grow at the highest CAGR during the forecast period.
The market is segmented by region into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to grow at the highest CAGR during the forecast period owing to the rising awareness about animal health, the increasing per capita income, favorable government initiatives for pet adoption, and the increasing production of livestock products in emerging economies. The rising pet ownership in rapidly urbanizing economies such as China, India, Indonesia, and South Korea is also expected to drive the market growth during the forecast period.
The market study covers the veterinary diagnostics market across various segments. It aims to estimate the market size and the growth potential across different segments by product, application, technology, animal type, end user, and region. The study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their products and business offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall veterinary diagnostics market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.