Veterinary Immunodiagnostics Market - By Product (Lateral Flow, ELISA, Allergen Specific Immunodiagnostic test, Immunoassay analyzer), Animal (Dog, Cat, Horse, Cattle, Poultry), End-user (Reference Lab, Hospital, Clinic), Global Forecast, 2023- 2032

Veterinary Immunodiagnostics Market - By Product (Lateral Flow, ELISA, Allergen Specific Immunodiagnostic test, Immunoassay analyzer), Animal (Dog, Cat, Horse, Cattle, Poultry), End-user (Reference Lab, Hospital, Clinic), Global Forecast, 2023- 2032

Veterinary Immunodiagnostics Market Size

Veterinary Immunodiagnostics Market size was valued at around USD 803.4 million in 2022 and is expected to grow at a CAGR of 9.2% from 2023 to 2032. The growth of this market is attributed to the factors such as rising adoption of companion animals, increase in animal healthcare expenditure, high prevalence of animal diseases, and technological advancements in diagnostic tests and equipment, increasing coverage for tests under pet insurance, and the rising awareness among pet owners regarding pet care.

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Veterinary immunodiagnostics involves diagnosis of diseases using an antigen-antibody reaction as a primary mean for detection. There are different types of test formats for immunodiagnostics tests such as ELISA, lateral flow assays and many other. It helps to monitor the infection causing agents in animals. It is a widely used animal diagnostics technology owing to the advantages it offers such as simplicity, high throughput capability, time, and cost-efficiency.

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COVID-19 Impact

The COVID-19 viral disease is a zoonotic disease that has increased awareness and concern about animal health hazards and animal-based food products. The pandemic had a mixed impact on the veterinary immunodiagnostics market. Due to the outbreak of COVID-19, the government imposed a lockdown and travel restrictions. The veterinary immunodiagnostic market was negatively impacted by COVID-19 in the early stages of the pandemic. Under such strict conditions, only severe animal cases were allowed to visit veterinary clinics and hospitals, which obstructed the growth of this market. Later, as COVID instances decreased, the growth of this market accelerated.

On the other hand, COVID-19 has opened new opportunities, and researchers took initiatives to develop immunodiagnostics tests for diagnosing COVID-19 in animals, which eventually increased awareness among people regarding the importance of animal health. Despite this, the pandemic has positively impacted the market by increasing pet adoption, increasing adoption of pet insurance, growing awareness, and demand for animal diagnostics, and increasing healthcare expenditure all over the globe.

Veterinary Immunodiagnostics Market Trends

The high prevalence of animal diseases and increasing adoption of companion animals is expected to have a significant impact on the growth of the veterinary immunodiagnostic market. With the increase in the pet population and animal health expenditures, pet insurance is also set to increase, enhancing the growth of the market. Furthermore, according to the annual facts and figures published by FEDIAF, there has been immense growth in pet ownership in Europe. By 2020, about 88 million households owned at least one pet animal in Europe. The pet population is rapidly increasing, with an estimated 90 million.

With the increasing animal population, the prevalence of animal diseases is also increasing, leading to the need for early diagnosis and treatment of the diseases. The veterinary immunodiagnostic helps in diagnosis of a wide range of diseases and provides quick and precise analysis. This helps the veterinary practitioners to better understand the cause of diseases and can administer better treatment options to the animals.

Veterinary Immunodiagnostics Market Analysis

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Based on product, the global veterinary immunodiagnostics market is segmented into lateral flow assays, ELISA, allergen-specific immunodiagnostics tests, immunoassay analyzers, and other immunodiagnostic products. The lateral flow assays segment accounted for the largest market share of 85% in 2022. The factors contributing to the growth of this segment are simplicity of use, low cost, and faster results. In addition to these factors, the high prevalence of animal diseases, increased awareness about animal health, pet insurance, and safe and accurate diagnosis of diseases using such immunodiagnostic tests are expected to enhance the market during the forecast period.

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Based on animal type, the veterinary immunodiagnostics market is subdivided into companion animals and livestock animals. The companion animal segment is classified into dogs, cats, horses, and other companion animals. Whereas the livestock animal segment is classified into cattle, poultry, swine, and other livestock animals. The companion animal segment accounted for the largest market share around 82.5% in 2022. The largest share of this segment is attributed to factors such as rising adoption of companion animals like dogs and cats in developed countries, rising focus on pet health, increasing adoption of pet insurance and healthcare expenditure. During the forecast period livestock animal segment will witness growth of CAGR 7.8% due to the growing demand for animal-derived food products and awareness about animal health.

Based on end-user, the veterinary immunodiagnostics market is classified into veterinary reference laboratories, veterinary hospitals & clinics, research & academic institutes, and point-of-care or in-house testing. In 2022, the veterinary reference laboratories segment accounted for the highest revenue and comprised of 57.5% of share in this market. They are the major end-users of the global market. Veterinary reference laboratories provide a wide range of testing services that may not be available at veterinary clinics and hospitals, and hence they accounted for the largest share in this market in 2022.

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In 2022, North America held the highest revenue in the global veterinary immunodiagnostics market, and it is anticipated to reach around 930.2 million by 2032. This is due to the high demand for pet insurance, the rapidly increasing number of companion animals, high consumption of dairy products and meat, availability of technologically advanced veterinary reference laboratories, and the increased focus on animal health. During the forecast period, it is expected that Asia Pacific will dominate the market because this region has the highest number of domesticated animals, is increasing animal adoption, and focuses on animal health. Asia Pacific market is expected to grow at CAGR of 10.3% during the forecast period.

Veterinary Immunodiagnostics Market Share

The key players in veterinary immunodiagnostics market are

• IDEXX Laboratories, Inc.
• bioMérieux SA
• Zoetis Inc.
• Randox Laboratories Ltd.
• Neogen Corporation
• Thermo Fisher Scientific Inc.
• QIAGEN N.V
• Abaxis, Inc.
• Virbac
• Heska Corporation

 These companies are implementing several strategies such as collaborations, acquisitions, partnerships, mergers, and product launches, etc. to maintain a competitive edge in the industry.

Veterinary Immunodiagnostics Industry News

• In September 2021, Heska Corporation acquired Biotech Laboratories to enter and strengthen rapid assay point-of-care diagnostic market.
• In June 2022, IDEXX Laboratories, Inc. announced the new reference laboratory tests and services to support early diagnosis and interventions for critical care cases.

The global veterinary immunodiagnostics 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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Market Size, By Product

• Lateral flow assays
• Lateral flow rapid tests
• Lateral flow strip readers 
• ELISA tests
• Chemiluminescence immunoassays
• Fluorescent immunoassays
• Colorimetric immunoassays
• Allergen specific immunodiagnostics tests
• Immunoassay analyzers
• Other immunodiagnostic products

Market Size, By Animal Type

• Market Size, By End-user

• Veterinary reference laboratories
• Veterinary hospitals & clinics
• Point-of-care/in-house testing
• Veterinary research & academic institutes

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
  • China
  • Japan
  • 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