Animal Diagnostics Market - By Technology (Immunodiagnostics {ELISA, Immunoassay Analyzers}, Clinical Biochemistry {Glucose Monitoring}, Hematology, Urinalysis), By Application (Parasitology, Pathology), By End-use (Clinics, Hospitals) - Global Forecast to 2032

Animal Diagnostics Market - By Technology (Immunodiagnostics {ELISA, Immunoassay Analyzers}, Clinical Biochemistry {Glucose Monitoring}, Hematology, Urinalysis), By Application (Parasitology, Pathology), By End-use (Clinics, Hospitals) - Global Forecast to 2032

Animal Diagnostics Market Size

Animal Diagnostics Market size was valued at over USD 7.2 billion in 2022. Driven by the rising pet adoption trend worldwide, the market is anticipated to grow at over 9% CAGR from 2023 to 2032. 

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Pet adoption has proliferated in recent years due to their rising social acceptance and the need for companionship many felt during COVID-19 to stave off depression and loneliness. As per the 2021-22 National Pet Owner Survey conducted by American Pet Products Association (APPA), about 70% of US households had a pet, which is equivalent to approximately 90.5 million homes.

This sharp rise in the number of pets has created a strong demand for pet health services, stimulated the animal diagnostic sector growth. As per American Veterinary Medical Association, Americans spent more on pets in 2020 than they did it 2019, with veterinary care and product sales reaching USD 31 billion.

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Steep costs associated with animal tests may constrain industry expansion

Despite a growing demand for animal health services, the prohibitive costs related to veterinary tests may hinder animal diagnostics market progress. The average cost of animal diagnostic testing lies between USD 25 to USD 45, and it differs based on the disease. Since diagnostic procedures require equipment, overhead, staff, and laboratory costs, they are expensive and out of reach for many owners. Moreover, some animal tests need months and even years to conduct and analyze the disease. Some other limitations of pet health also include lengthy procedures, and the high cost of breeding and housing, which further hampers industry share. 

Animal Diagnostics Market Analysis

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Based on technology, animal diagnostics market valuation from the immunodiagnostics segment is poised to grow past USD 8 billion by 2032, driven by the rising cases of zoonotic diseases in livestock. Some of the most common zoonoses that affect farm animals include viral respiratory tract infections, leptospirosis, bovine ephemeral fever, infectious bovine rhinotracheitis, and Johne's diseases. As per WHO, around 1 billion cases of death and illness occur annually from zoonoses globally. This creates a strong need for sophisticated animal diagnostics among farmers as to protect their livestock investments. Immunodiagnostics gives vets the ability to detect many autoimmune diseases, making them crucial to the cause. 

With respect to the end-use, animal diagnostics market share from veterinary clinics is expected to be valued at over USD 10 billion by 2032, fostered by the growing corporatization of the segment, where more veterinary clinic chains are emerging to boost access to advanced diagnostic services. In fact, back in October 2021, city officials in Detroit, Michigan unveiled plans for a state-of-the-art animal shelter worth USD 5 million for Detroit Animal Care and Control, which will also include a new veterinary medical clinic with modern amenities. 

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North America animal diagnostics market is expected to grow at over 8.5% CAGR through 2023 - 2032, on account of the growing spending on pet care. In fact, as per reliable sources, the capital spent on pet care services in the US has doubled over the last decade, creating strong impetus for animal diagnostic services. Back in 2021, veterinary care expenditure reached USD 32 billion in the country driven by this trend. The regional growth is also outlined by favorable regulatory policies for supporting various market players operating in the business space. 

Animal Diagnostics Market Share

The list of leading animal diagnostics market players includes names such as

• Neogen Corporation
• Virbac
• BioNote, Inc.
• Boehringer Ingelheim International GmbH
• VetAll Laboratories

Many of these players are emphasizing on merger and acquisition efforts to gain a competitive advantage in the field. Citing an instance, in February 2021, Heska Corporation, a US-based provider of the latest technologies to pet healthcare providers, inked a definitive agreement to acquire Lacuna Diagnostics, a provider of POC diagnostics digital cytology technology. This strategic move helped the company expand its point-of-care diagnostics portfolio. 

Impact of the COVID-19 pandemic

The COVID-19 pandemic impacted the animal diagnostics industry positively as the adoption of pets and animal diagnostic test kits surged dramatically. However, the lockdowns also led to the temporary closure of several veterinary units, constraining the market in some segments. However, demand for effective COVID-19 care also increased during the period as animals were also susceptible to the disease. The University of Glasgow was the among the first to highlight the presence of COVID-19 infection among pets such as cats, dogs, and other animals.

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

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By Technology

• Immunodiagnostics
  • ELISA
  • Lateral Flow Assays
  • Immunoassay Analyzers
  • Other
• Clinical Biochemistry
  • Glucose Monitoring
  • Blood Gas & Electrolyte Analysis
  • Other
• Hematology
• Molecular Diagnostics
  • PCR
  • Microarrays
  • Others
• Urinalysis
• Others

By Animal

• Farm Animals
  • Poultry
  • Swine
  • Cattle
  • Others
• Companion Animals
  • Dogs
  • Cats
  • Horses
  • Others

By Product

• Instruments
• Consumables

By Application

• Bacteriology
• Parasitology
• Pathology
• Others

By End-use

• Veterinary Clinics
• Veterinary Hospitals
• Others

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Poland
  • Netherlands
  • Sweden

• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Thailand
  • Philippines
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Columbia
  • Chile
  • Peru
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Israel
  • Turkey