Veterinary Diagnostics Market Regional Analysis:
North America Market Insights
North America industry is expected to hold largest revenue share of 62% by 2035. This growth can be attributed to increasing pet ownership across the region, growing concerns about animal health and welfare, and presence of advanced veterinary healthcare infrastructure. Key players in the market such as Zoetis Services LLC, and IDEXX Laboratories Inc., are leading the market by offering advanced diagnostics solutions for companion and livestock.
The U.S. emerged as the dominant country in North America market in 2023 owing to rising prevalence of zoonotic diseases, coupled with advanced diagnostic tools and services. The U.S. boasts one of the largest companion animal populations in the world with millions of pets such as dogs, cats, and other pets. The U.S. has robust a network of veterinary clinics, hospitals, and healthcare facilities that provide advanced diagnostics services fueling the demand for increased veterinary diagnostics tests.
Asia Pacific Market Insights
Asia Pacific veterinary diagnostics market is expected to expand at a rapid CAGR over the forecast period. This growth can be attributed to increasing pet ownership and livestock breeding, high adoption of advanced diagnostic tools, and ongoing efforts to develop advanced diagnostics tests.
China market is expected to witness robust growth owing to high prevalence of zoonotic diseases, increasing investments in developing advanced diagnostic tools, and growing awareness about animal health and early disease diagnosis. For instance, in May 2021, Boehringer Ingelheim announced approval for its GastroGard drug by the Ministry of Agriculture and Rural Affairs of China and became the first company with an equine business in China.
