Veterinary Diagnostics Market Size

Veterinary Diagnostics Market size was over USD 8.6 billion in 2023 and is anticipated to exceed USD 15.4 billion by the end of 2036, growing at over 5% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of veterinary diagnostics is estimated at 9.03 billion.

The steep growth trajectory is modulated by the rising need for pet ownership and humanization, rapid advancements in diagnostics technology enabling faster and more accurate test results, expansion of veterinary healthcare infrastructure, increased animal expenditures, and a growing number of veterinary practitioners. Many key players are focused on offering innovative diagnostic products and kits for companion animals as well as livestock. In November 2023, IDEXX Laboratories Inc. announced the launch of a comprehensive test named SNAP Leish 4Dx which detects vector-borne diseases. This move helped the company boost its credibility and widen its portfolio.

Progress in diagnostics technologies such as molecular diagnostics, imaging modalities, and point-of-care (PoC) testing has greatly increased the capacity to diagnose complex illnesses in animals. For instance, in April 2023, BioCheck announced the launch of a real-time biosecurity diagnostic tool, VetAssure for pigs and poultry that uses bioluminescence technology to identify and measure ATP.