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Global Veterinary Diagnostic Market to reach USD XX billion by the end of 2030.

Global Veterinary Diagnostic Market Size study & Forecast, by Product Type (Instruments, Reagents & Consumables), by Technique (Hematology, Immunodiagnostics, Molecular Diagnostics, Diagnostic Imaging, Others), by Animal Type (Livestock, Companion), by End User (Veterinary Hospitals & Clinics, Veterinary Reference Laboratories, Others) and Regional Analysis, 2023-2030

Product Code: HLSMD-56651131
Publish Date: 10-01-2024
Page: 200

Global Veterinary Diagnostic Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Veterinary diagnostics is the process of identifying and determining the nature or cause of diseases in animals. It plays a crucial role in veterinary medicine by helping veterinarians make informed decisions about the health and treatment of animals. Diagnostic tests in veterinary medicine are designed to detect the presence of pathogens, abnormalities, or other health-related conditions. These tests can be applied to a variety of animals, including pets, livestock, and wildlife. The key factors driving the market growth are the growing adoption of pet ownership, rising animal health expenditure, the growing burden of animal zoonotic diseases, and rising Prevalence of Animal Diseases that are anticipated to support the market growth during the projected period 2023-2030.

Additionally, rising pet ownership and the growing human-animal bond have led to an increased demand for veterinary services, including diagnostics. According to the 2021-2022 APPA National Pet Owners Survey, the number of U.S. households that own cats is 45.3 million, Dog 69 million, Hours 3.5 million, Reptile is 5.7 million and small animals are 6.2 million. As a result, the growing pet ownership is anticipated to support the market growth. Moreover, growing veterinary healthcare spending and growing number of veterinary practitioners is anticipated to create a lucrative opportunity for the market over the projected period. However, the high cost of veterinary diagnostic tests stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Veterinary Diagnostic Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing pet ownership, rising animal diseases, growing advancements in diagnostic technologies, and rising veterinary healthcare spending. Whereas, the Asia Pacific is expected to grow with the highest CAGR over the forecast period, owing to factors such as the growing awareness about zoonotic diseases and increased pet expenditure, increasing demand for livestock, growing Point-of-Care Testing (POCT) adoption, and rising prevalence of animal diseases.

Major market player included in this report are:
IDEXX Laboratories, Inc. (U.S.)
Zoetis Services LLC (U.S.)
Heska Corporation (U.S.)
Thermo Fisher Scientific Inc. (U.S.)
Avante Animal Health (U.S.)
Virbac (France)
Randox Laboratories Ltd. (U.K.)
VCA Animal Hospitals (Mars, Incorporated) (U.S.)
Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China)
Bio-Rad Laboratories Inc. (US)

Recent Developments in the Market:
Ø In July 2022, BioNote USA joined forces with PSIvet in an exciting partnership aimed at enhancing affordability for BioNote’s Vcheck line of analyzers and tests. This collaboration is set to benefit over 5,000 veterinary practices associated with PSIvet, making cutting-edge diagnostic solutions more accessible.

Global Veterinary Diagnostic Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product Type, Technique, Animal Type, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:
Reagents & Consumables

By Technique:
Molecular Diagnostics
Diagnostic Imaging
Clinical Biochemistry

By Animal Type:

By End User:
Veterinary Hospitals & Clinics
Veterinary Reference Laboratories

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Veterinary Diagnostic Market, by Region, 2020-2030 (USD Billion)
1.2.2. Veterinary Diagnostic Market, by Product Type, 2020-2030 (USD Billion)
1.2.3. Veterinary Diagnostic Market, by Technique, 2020-2030 (USD Billion)
1.2.4. Veterinary Diagnostic Market, by Animal Type, 2020-2030 (USD Billion)
1.2.5. Veterinary Diagnostic Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Veterinary Diagnostic Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Veterinary Diagnostic Market Dynamics
3.1. Veterinary Diagnostic Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Growing adoption of pet ownership Growing burden of animal zoonotic diseases Rising Prevalence of Animal Diseases
3.1.2. Market Challenges High cost of veterinary diagnostic tests
3.1.3. Market Opportunities Growing veterinary healthcare spending Growing number of veterinary practitioners
Chapter 4. Global Veterinary Diagnostic Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Veterinary Diagnostic Market, by Product Type
5.1. Market Snapshot
5.2. Global Veterinary Diagnostic Market by Product Type, Performance – Potential Analysis
5.3. Global Veterinary Diagnostic Market Estimates & Forecasts by Product Type 2020-2030 (USD Billion)
5.4. Veterinary Diagnostic Market, Sub Segment Analysis
5.4.1. Instruments
5.4.2. Reagents & Consumables
Chapter 6. Global Veterinary Diagnostic Market, by Technique
6.1. Market Snapshot
6.2. Global Veterinary Diagnostic Market by Technique, Performance – Potential Analysis
6.3. Global Veterinary Diagnostic Market Estimates & Forecasts by Technique 2020-2030 (USD Billion)
6.4. Veterinary Diagnostic Market, Sub Segment Analysis
6.4.1. Hematology
6.4.2. Immunodiagnostics
6.4.3. Molecular Diagnostics
6.4.4. Diagnostic Imaging
6.4.5. Clinical Biochemistry
6.4.6. Others
Chapter 7. Global Veterinary Diagnostic Market, by Animal Type
7.1. Market Snapshot
7.2. Global Veterinary Diagnostic Market by Animal Type, Performance – Potential Analysis
7.3. Global Veterinary Diagnostic Market Estimates & Forecasts by Animal Type 2020-2030 (USD Billion)
7.4. Veterinary Diagnostic Market, Sub Segment Analysis
7.4.1. Livestock
7.4.2. Companion
Chapter 8. Global Veterinary Diagnostic Market, by End User
8.1. Market Snapshot
8.2. Global Veterinary Diagnostic Market by End User, Performance – Potential Analysis
8.3. Global Veterinary Diagnostic Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
8.4. Veterinary Diagnostic Market, Sub Segment Analysis
8.4.1. Veterinary Hospitals & Clinics
8.4.2. Veterinary Reference Laboratories
8.4.3. Others
Chapter 9. Global Veterinary Diagnostic Market, Regional Analysis
9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Veterinary Diagnostic Market, Regional Market Snapshot
9.4. North America Veterinary Diagnostic Market
9.4.1. U.S. Veterinary Diagnostic Market Product Type breakdown estimates & forecasts, 2020-2030 Technique breakdown estimates & forecasts, 2020-2030 Animal Type breakdown estimates & forecasts, 2020-2030 End User breakdown estimates & forecasts, 2020-2030
9.4.2. Canada Veterinary Diagnostic Market
9.5. Europe Veterinary Diagnostic Market Snapshot
9.5.1. U.K. Veterinary Diagnostic Market
9.5.2. Germany Veterinary Diagnostic Market
9.5.3. France Veterinary Diagnostic Market
9.5.4. Spain Veterinary Diagnostic Market
9.5.5. Italy Veterinary Diagnostic Market
9.5.6. Rest of Europe Veterinary Diagnostic Market
9.6. Asia-Pacific Veterinary Diagnostic Market Snapshot
9.6.1. China Veterinary Diagnostic Market
9.6.2. India Veterinary Diagnostic Market
9.6.3. Japan Veterinary Diagnostic Market
9.6.4. Australia Veterinary Diagnostic Market
9.6.5. South Korea Veterinary Diagnostic Market
9.6.6. Rest of Asia Pacific Veterinary Diagnostic Market
9.7. Latin America Veterinary Diagnostic Market Snapshot
9.7.1. Brazil Veterinary Diagnostic Market
9.7.2. Mexico Veterinary Diagnostic Market
9.8. Middle East & Africa Veterinary Diagnostic Market
9.8.1. Saudi Arabia Veterinary Diagnostic Market
9.8.2. South Africa Veterinary Diagnostic Market
9.8.3. Rest of Middle East & Africa Veterinary Diagnostic Market

Chapter 10. Competitive Intelligence
10.1. Key Company SWOT Analysis
10.1.1. Company 1
10.1.2. Company 2
10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. IDEXX Laboratories, Inc. (U.S.) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.3.2. Zoetis Services LLC (U.S.)
10.3.3. Heska Corporation (U.S.)
10.3.4. Thermo Fisher Scientific Inc. (U.S.)
10.3.5. Avante Animal Health (U.S.)
10.3.6. Virbac (France)
10.3.7. Randox Laboratories Ltd. (U.K.)
10.3.8. VCA Animal Hospitals (Mars, Incorporated) (U.S.)
10.3.9. Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China)
10.3.10. Bio-Rad Laboratories Inc. (US)
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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