Veterinary Point of Care Diagnostics Market - By Product (Consumables, Instruments), By Test Type (Clinical Biochemistry, Hematology), By Animal (Companion, Livestock), By Sample (Blood, Urine), By End-user (Hospitals & Clinics) & Forecast, 2023 – 2032

Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Animal Health and Nutrition | Format: Report available in PDF / Excel Format

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Veterinary Point of Care Diagnostics Market - By Product (Consumables, Instruments), By Test Type (Clinical Biochemistry, Hematology), By Animal (Companion, Livestock), By Sample (Blood, Urine), By End-user (Hospitals & Clinics) & Forecast, 2023 – 2032

Veterinary Point of Care Diagnostics Market Size

Veterinary Point of Care Diagnostics Market size valued at USD 1.7 billion in 2022 and is estimated to grow at over 9.4% CAGR between 2023 and 2032. The rise in pet-related spending, adoption of new technologies, and the rising demand for point-of-care testing are the main factors propelling the market's expansion.

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Veterinary point of care diagnostics refers to the use of diagnostic tests and devices that can be performed rapidly and conveniently at the point of care, such as veterinary clinics, field settings or on-site at farms or animal shelters. These tests are designed to provide quick and accurate results to aid in the diagnosis, monitoring, and treatment of animals. The veterinary point of care diagnostics includes a wide range of tests and technologies that can be used to detect and analyse various conditions and diseases in animals.
 

Veterinary Point of Care Diagnostics Market Report Attributes
Report Attribute Details
Base Year 2022
Veterinary Point of Care Diagnostics Market Size in 2022 USD 1.7 billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 9.4%
2032 Value Projection USD 4.1 billion
Historical Data for 2018 to 2022
No. of Pages 220
Tables, Charts & Figures 450
Segments covered Product, Test Type, Animal Type, Sample Type, End-user, and Region
Growth Drivers
  • Increasing Pet-Related Expenditures
  • Technological Advancements
  • Increasing Demand for Point-Of-Care Diagnostics
Pitfalls & Challenges
  • Rising Livestock Population and Pet Ownership
  • High cost of veterinary imaging systems

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COVID-19 Impact

At the start of the COVID-19 pandemic, the market for pet health checks and tests didn't see much change. But as lockdowns and social distancing became the norm, people started adopting more pets to help with the loneliness and stress of being stuck at home. This led to a rise in the number of people keeping cats and dogs during the pandemic. On top of that, the pandemic made people more aware of the risks of diseases that can spread from animals to humans, like COVID-19. Governments, health organizations, and the media all worked together to teach people about zoonotic diseases, how to prevent them, and how to keep their pets and farm animals healthy. All of these things helped the market for pet health checks and tests stay stable in 2020.

Veterinary Point of Care Diagnostics Market Trends

The point of care testing technology provides clinically relevant diagnostic information without the need for a core diagnostic laboratory. Therefore, they have the potential to reduce the cost and time associated with the veterinary diagnosis. The lateral flow technology applied in POC veterinary lateral flow assay devices and dipsticks have been used for decades in the diagnosis of infectious diseases among animals. These test products comprise portable immuno-chromatography strips with antigens and antibodies for specific disease diagnoses. The positive results obtained using lateral flow POC devices are medically accepted; however, in case of negative results, it may require other confirmatory laboratory tests owing to their lower sensitivity.

Veterinary Point of Care Diagnostics Market Analysis

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The veterinary point-of-care diagnostics market can be divided into two main groupsthings you use up (consumables) and things you keep using (instruments and devices). Consumables, like test kits and reagents, took the lion's share of the market in 2022, with 57.3%. This is mainly because companies often offer subscription-based or recurring payment models for these items. Also, there's a wide range of consumables available, and big players in the market are always coming up with new products and promotions. For example, about 90% of Heska Corporation's point-of-care consumables are sold through long-term subscriptions. In 2019, they had around 2,376 subscriptions, which grew to 2,980 in 2020. The company has also kept over 95% of its subscribers coming back for more. So, it's likely that the consumables segment will keep growing because of these factors.

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To understand the different ways vets test animals, we can break down the market into different categories based on the type of testChemistryChecking blood for stuff like glucose, proteins, hormones, and enzymes. Immunology Looking for markers in the blood that indicate infections or allergies. MolecularUsing fancy tech to find specific genes or genetic markers. Hematology Studying blood cells to assess health and blood disorders. urinalysisAnalyzing urine to check for infections, kidney issues, and other problems. Other tests Anything else that doesn't fit into the above categories. Now, the chemistry category is expected to grow the most, reaching about $1.4 billion by 2032. Why? Because chemistry tests can quickly tell vets a lot about an animal's health. They can check for liver problems, kidney issues, diabetes, and more. And the best part? These tests can give results in under 9 minutes. This means vets can share the news with pet owners and start treatment right away, instead of making them come back for a second appointment. That's a huge convenience for both the vet and the pet owner! So, as more of these quick-result chemistry tests become available, the market is bound to grow.

The veterinary point-of-care diagnostics market is like a big pie that's divided into two slicescompanion animals (like our furry friends like dogs, cats, and horses) and livestock animals (think cows, pigs, chickens, and more). In 2022, the companion animal slice was the bigger one, and it's expected to keep growing even bigger, like a giant fluffy ball of cuteness! This is because we're all becoming more aware of how our pets' health can affect our own, and we're adopting more furry friends than ever before. Vets use all kinds of handy tools to diagnose our pets, like those little strips you pee on to check for infections, blood sugar monitors, and even pregnancy tests. And guess what? We're using more and more of these things because we're all getting smarter about our pets' health and making sure they're happy and healthy.

When it comes to diagnosing animals at the vet's office, there are different types of tests that can be done based on the sample being taken. These samples can be blood, plasma, serum, urine, poop, or other stuff. Out of all these samples, blood is the most commonly used. In fact, about 43.5% of all animal diagnostic tests involve blood or plasma in 2022. This is because blood tests can help find out if your furry friend has any infectious diseases or other health problems. For example, Kirkwood Animal Hospital in the United States says that it's a good idea to do blood tests on your pet regularly as part of their overall health care. This can help catch any potential problems early on, even if they don't show up during a physical exam. Blood tests can also be used to make sure everything's okay before surgery or other procedures that require anesthesia.

Think of the market for veterinary care like a pie. It's divided into slices based on who's using the servicesVeterinary hospitals and clinicsThis slice is like the biggest piece of the pie. Most animals go to these places for checkups and treatment. They also do a lot of tests to figure out what's wrong with your furry friend. Diagnostic labs These places are like super-smart helpers. They focus on doing tests on samples from animals. They can check for diseases, analyze DNA, and more. Home care settingsSometimes, you might prefer to take care of your pet at home. That's where these services come in. They provide tests and support for you to use at home. Other end-users There are a few smaller slices of the pie, like research institutions and animal shelters, that also use veterinary diagnostics. Now, back to the slice that's most popularveterinary hospitals and clinics. They're like the center of the pie because they see the most animals. People are bringing their pets in more often, and they're asking for more tests to make sure their animals are healthy. Plus, the government is giving these hospitals and clinics some extra help, which is always a good thing!

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North America region is predicted to dominate the veterinary point of care diagnostics market with a CAGR of 9% over the forecast period. Presence of major animal healthcare companies coupled with advancements in veterinary healthcare infrastructure in Canada and the U.S. are enabling real-time diagnosis, which is anticipated to R&D activity and new product development. Also, the increased number of veterinarians and veterinary clinics in the region is propelling the market growth.

Veterinary Point of Care Diagnostics Market Share

Some of the major market players operating in the veterinary point of care diagnostics market are

  • Zoetis, Inc.
  • IDEXX Laboratories,Inc.
  • Heska Corporation
  • Virbac
  • Thermo FisherScientific, Inc.
  • EurolyserDiagnostica GmbH

These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.

Veterinary Point of Care Diagnostics Industry News

  • In March 2022, VolitionRx Limited (Volition) announced that it has signed an exclusive global supply and license agreement with Heska Corporation (Heska) to sell Volitions Nu.Q Vet Cancer Screening test. This strategy is expected to enhance their long-term relation as well as outreach to untapped economies.
  • In September 2020, Zoetis launched its Vetscan Imagysta, a diagnostic platform that uses a combination of image recognition technology, algorithms and cloud-based artificial intelligence (AI) to deliver accurate testing results. This helped the company to expand its product portfolio and increase its revenue from its sales.

This veterinary point of care diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments

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By Product

 

  • Consumables
  • Instruments & Devices

By Test Type

  • Clinical biochemistry                  
  • Immunodiagnostics     
  • Molecular diagnostics
  • Hematology
  • Urinalysis
  • Other test type

By Animal Type

  • Companion animal
  • Dogs
  • Cats
  • Horses
  • Other companion animals 
  • Livestock animals
  • Cattle
  • Swine
  • Poultry
  • Other livestock animals

By Sample Type

  • Blood/Plasma/Serum
  • Urine
  • Fecal
  • Other samples

By End-user

  • Veterinary hospitals and clinics
  • Diagnostic labs
  • Home care settings
  • Other end-users

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Rest of Middle East & Africa

 

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