Animal Diagnostics Market Size, Share, Growth, and Industry Analysis by Type (Farm Animals, Companion Animals, Others), by Application (Immunodiagnostics, Clinical Biochemistry, Hematology, Molecular Diagnostics, Urinalysis, Others), and Regional Insights and Forecast To 2031

Updated On: 22 April 2024

ANIMAL DIAGNOSTICS MARKET REPORT OVERVIEW

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The global animal diagnostics market size was USD 2661.5 million in 2019 and the market is projected to touch USD 4121.1 million by 2026, at CAGR of 6.4% during the forecast period.

The Animal Diagnostic is for supporting disease control, health management and performance of livestock, poultry, wildlife and fish. Growing trend of pet adoption along with rising prevalence of zoonotic diseases will drive animal diagnostics market over the forecast timeframe. Animal diagnostics is a branch of veterinary medicine that deals with the diagnosis and prevention of diseases in livestock, poultry, and companion animals. Diseases are diagnosed through laboratory tests including haematology, clinical biochemistry, or molecular diagnostics. The animal testing market covers various types of diagnostic techniques such as immunodiagnostic test kits which identify antibodies against known disease-causing agents; haemoglobin analysis for blood disorders.

Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact: Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

LATEST TRENDS

"Use Of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

ANIMAL DIAGNOSTICS MARKET SEGMENTATION

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• By Type Analysis

According to type, the market can be segmented into farm animals, companion animals, others

Farm animals automatic machines will capture the maximum market share through forecast period.  

Farm animals - Farm animals are domesticated animals raised in an agricultural setting to produce commodities such as food, fiber, and labour.  They can be a source of income to the farmers or owners because they produce products.

Companion animals - Companion animals are non-human species that have a special bond or relationship with humans. It typically involves mutual affection and is often categorized as emotionally attached to human beings, which may not be limited to dogs but also include other domesticated animals such as cats, rabbits, horses among others. 

Others- This can include exotic animals, wildlife, and aquatic species. It is important for biodiversity, conservation efforts, and in some cases, research.

• By Application Analysis

According to application, the market can be segmented into immunodiagnostics, clinical biochemistry, hematology, molecular diagnostics, urinalysis, others

Animal diagnostics market players cover segment as immunodiagnostics will dominate the market share during forecast period.

Immunodiagnostics -Immunodiagnostics detects specific proteins or antigens related to infectious diseases, hormonal disorders, and allergies. Immunoassay tests are widely used for clinical care and research, including diagnosis of disease conditions or identification of exposure to pathogens such as bacteria and viruses. The majority of veterinary diagnostic laboratories provide testing services using some form of ELISA technology.

Clinical Biochemistry- It analyzes blood, urine, and body fluids to assess organ function and metabolic status. It is fundamental for routine health checks and disease diagnosis.

Hematology –It examines blood to provide information about red and white blood cells and platelets. It is essential for diagnosing anaemia, infections, and blood disorders.

Molecular Diagnostics -Detects specific DNA/RNA sequences to identify pathogens or genetic. It offers high specificity and sensitivity, crucial for identifying infectious agents and genetic conditions.

Urinalysis- Urinalysis tests urine for various substances to assess urinary tract health and systemic diseases. It is useful for diagnosing kidney diseases, diabetes, and urinary tract infections.

Others- Includes various other diagnostic methods like imaging (X-rays, MRI), pathology, and specialized tests for specific conditions. It complements other diagnostic methods and provides a comprehensive understanding of animal health.

DRIVING FACTORS

"Increase In Pet Humanization To Boost The Market Growth"

One of the key growth drivers of the global market is the increasing humanization of pets by families. Humanization refers to the treatment of pets like members of the family. With idealistic, the practice of keeping pets for functional purposes is decreasing. Instead, pets are increasingly adopted as members of urban families.  

"Technological Advancement and Innovation To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the animal diagnostics market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices. Innovations in diagnostics technologies, such as PCR, imaging, and biomarkers, offer more accurate and faster results.

RESTRAINING FACTOR

"Rising Cost Of Animal Heathcare To Hamper The Market Growth"

The high veterinarian cost include more advanced technology, increased preventive care, and liability concerns among doctors. The cost of routine and surgical vet visits has increased significantly. Technical difficulties will reduce the industry revenue.

ANIMAL DIAGNOSTICS MARKET REGIONAL INSIGHTS

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"North America to Dominate the Region Due To Growing Spending On Pet Care"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.

North America is further expected to witness growth in the animal diagnostics market share. The region is dominating the market due to growing spending on pet care. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

KEY INDUSTRY PLAYERS

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.

List Of Market Players Profiled

• IDEXX Laboratories (U.S.)
• Abaxis (U.S.)
• Heska Corporation (U.S.)
• Neogen (U.S.)
• Thermo Fisher Scientific (U.S.)

INDUSTRIAL DEVELOPMENT

April 2020: Heska Corp. announced the acquisition of Scil Animal Care Company GmbH, a provider of veterinary point-of-care diagnostics. 

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.