Veterinary Diagnostics Market Analysis

Product (Consumables and Instruments)

The consumable segment in the veterinary diagnostics market accounted for a significant share in 2023 and is expected to grow at a healthy pace owing to increasing demand for diagnostics tests, consistent utilization of reagents and kits in veterinary clinics and laboratories, and continuous need for advanced technology to detect emerging diseases. Reagents, kits, and assays are some the commonly used consumables in veterinary diagnostics for varied infectious, genetic, allergy, and toxicology testing.

Technology (Hematology, Immunodiagnostics, Molecular Diagnostics, and Clinical biochemistry and others)

The molecular diagnostics segment is expected to account for a 33.2% share of the veterinary diagnostics market during the forecast period due to its high sensitivity, rapid results, and accurate outcomes. This segment has revolutionized the approach to diagnosing infectious diseases, genetic disorders, and serious health issues in animals by offering efficient methods replacing traditional methods such as PCR, sequencing, and microarrays. These modern and advanced technical methods have become a benchmark in improvising timely and effective diagnosis of animal diseases.

Its ability to detect numerous targets simultaneously and provide timely results has made it an indispensable tool for researchers, veterinarians, and other animal health professionals. Moreover, the portability and easy-to-use features of such molecular diagnostics devices have expanded their reach to point-of-care settings, enabling on-site testing, and making decisions on time the driving forces behind the significant segment growth.

Animal type (Companion, and Livestock)

The companion animal segment is expected to register the fastest growth between 2024 and 2037, owing to increasing pet ownership, and rising concerns about animal health. The increasing adoption of dogs, cats, and horses has resulted in growing demand for premium quality animal well-being products, including diagnostics and devices. Additionally, the growing trend of pet owners seeking human-level healthcare for their pets has led an increase in demand for specialized and sophisticated diagnostics tests and healthcare products. As a result, companies are striving to develop innovative and cost-effective diagnostics solutions for optimal outcomes of companion animal diseases.

Our in-depth analysis of the global market includes the following segments: