Animal Diagnostics Market Size | Share and Trends 2024 to 2034

Animal Diagnostics Market Size and Growth 2024 to 2034

The global animal diagnostics market size accounted for USD 9.06 billion in 2024 and is expected to reach around USD 14.76 billion by 2034, expanding at a CAGR of 5% from 2024 to 2034. The increasing cases of chronic diseases among animals and the increasing expenditure on pets by their owners are driving the growth of the market.

Animal Diagnostics Market Key Takeaways

• By region, North America dominated the animal diagnostics market in 2023.
• By region, Asia Pacific is expected to witness significant growth in the market during the forecast period.
• By product, the kits and reagent segment dominated the market in 2023.
• By product, the instruments segment is expected to grow in the market during the forecast period.
• By technology, the molecular diagnostics segment held the highest market share in 2023.
• By technology, the hematology segment is expected to grow at a significant rate in the market during the anticipated period.
• By animal type, the companion animals segment dominated the animal diagnostics market in 2023.
• By animal type, the livestock animals segment is expected to grow at a notable rate in the market during the predicted time period.

Market Overview

The animal diagnostics market offers services precisely designated for maintaining the health of animals since they help with quicker diagnosis and treatment planning by spotting health problems before they would otherwise become apparent. Conventional diagnosis is the examination of blood, tissue, urine, or feces to identify the presence of disease, proteins, antibodies, or general health markers. Lab-based testing guarantees high-quality, precise results, and point-of-care diagnostics allow for instantaneous decisions that can calm worried pet owners. A vital component of the animal diagnostics market is these analyses.

By spotting patterns in wellness data that human specialists might miss, digital diagnostics bring new opportunities for early disease identification and unleash the preventative potential of technology. The increasing prevalence of diseases in animals and the rising expenditure by pet owners and government bodies for animal well-being are driving the growth of the animal diagnostics market.

Animal Diagnostics Market Data and Statistics

• About 70% of homes in the United States, approximately 90.5 million households, have pets. Dogs occupy 69% of households, while cats have about 45% of households, followed by birds, fish, and other small animals.
• About 32% of the Millennium generation are pet owners, while Generation X and the baby boomers make up about 24% and 27% of pet ownership, respectively, in the United States.
• In the U.S., about 10% of dog owners carry health insurance for their pets.

Animal Diagnostics Market Growth Factors

• The increasing prevalence of chronic diseases among animals and the increasing spending on animal welfare are driving the growth of the animal diagnostics market.
• The increasing technological advancements in veterinary diagnostics technologies such as medical imaging, molecular diagnostics, imaging modalities, and PoC testing are boosting the growth of the animal diagnostics market.
• The growing development of veterinary diagnostic products plays an important role in the treatment of diseased animals, accelerating the growth of the market.
• The increasing aging pet population, which is more likely to get infected by severe diseases, and the rising government initiatives for animal health and welfare are driving the growth of the animal diagnostics market.
• The increasing number of veterinary diagnostics centers in urban areas due to the increasing animal adoption rate by the population is driving the market's growth.
• Growing cases of zootonic pathogens resulting in mortality in domesticated animals.

Animal Diagnostics Market Scope

Market Dynamics

Driver

Increasing pet adoption rate

The rising urbanization and the increasing disposable income of people are resulting in the increasing trend of having pets in the home. Thus, there is a continuously increasing pet adoption rate. Increasing urbanization, nuclear families, staying single, and increasing adoption of modern lifestyle resulted in a higher number of pet owners. Most households' preferred animals as pets are dogs and cats. The rising expenditure on the pet's healthy life and maintenance by the owner is one of the major factors for the growth in animal diagnostics. Thus, all these factors contribute to the growth of the animal diagnostics market.

Restraint

Insufficient workforce

Veterinary sciences is a highly specialized field that requires an adequate amount of practice and training. Within the healthcare sector, this field is the recipient of the least amount of new workforce every year. Along with the high educational costs and lack of awareness, there is a significant difference between the need and availability of medical personnel. This also hinders the appropriate research and development work required for the growth of any scientific field. Thus, the need for more skilled working, well-trained, and qualified professionals in the field of veterinary diagnostics is restraining the growth of the animal diagnostics market.

Opportunity

Increasing government support

The increasing prevalence of chronic diseases among animals and the increasing number of infectious diseases by animals are creating an increasing demand for animal diagnostics centers. The government initiatives the support of animal well-being and the increasing investments in the growth of animal diagnostics are driving the growth of the animal diagnostics market. Additionally, technological advancements in veterinary diagnostics, such as PoC testing, imaging modalities, etc., are further boosting the growth of the animal diagnostics market.

• In March 2022, Companion Animal Health promulgated a strategic agreement, including an equity investment, with HT BioImaging to co-brand and exclusively sell the HTVet product in the US and Canada.

Product Insights

The kits and reagent segment held the highest share of the animal diagnostics market in 2023. The growth of the segment is attributed to the increasing use of test kits and reagents at the time of animal medical diagnostics. The test includes blood tests, immunoassays, and urinalysis. These test kits are used in medical laboratories, diagnostics centers, veterinary clinics and hospitals, and other point-of-care. The increasing pet adoption rate and the rising number of veterinary healthcare facilities are driving the demand for kits and reagents in the animal diagnostics market.

The instruments segment is expected to grow significantly in the animal diagnostics market during the forecast period. The growth of the segment is expected to grow owing to the rising technological adoption of medical instruments and machinery like POCT devices and imaging types of equipment, and the increasing investments by private firms in the development of instruments are driving the demand for the segment in the market.

Technology Insights

The molecular diagnostics segment held the highest share of the animal diagnostics market in 2023. Detection, identification, and genotyping of the causative pathogen are the main objectives of veterinary molecular diagnostics. Methods are similar to those applied in the field of molecular diagnostics for humans. These methods are used in veterinary diagnosis to determine a herd's disease status or to diagnose illnesses in individual animals and herds. A diagnostic unit sample for herd diagnoses, which can compensate for test characteristics, and, to a lesser extent, the large RNA/DNA loads in cases of animal disease outbreaks are notable elements of veterinary molecular diagnostics.

• In January 2022, Ringbio launched a professional website names petrapidtest.com to market Flexy Pet Rapid Test. These kits are based on lateral flow immunoassay, ELISA, and real-time PCR to detect companion animal diseases, which can be helpful for pet owners and vet clinics.

The hematology segment is expected to grow in the animal diagnostics market during the anticipated period. The information required to precisely evaluate and diagnose blood illnesses in common domestic animals, such as dogs, cats, horses, cattle, sheep, goats, pigs, and llamas, is provided by veterinary hematology. This comprehensive resource employs a user-friendly and clinically oriented methodology to assist you in choosing pertinent diagnostic tests, gathering and readying samples, deciphering sample outcomes, and assessing their clinical importance.

Animal Type Insights

The companion animals segment dominated the animal diagnostics market in 2023. The growing pet adoption in urban areas due to the rising acceptance of the modern lifestyle, single living, nuclear families, and increased disposable income drives the growth of companion animals. The rising expenditure on pet care in developed economies is raising the demand for the segment in the market. The rising investment in veterinary healthcare programs and the increasing launch of pet facilities are driving the demand for the segment in the market.

The livestock animal segment is expected to grow in the animal diagnostics market during the predicted time period. The growth of the segment is attributed to the rising demand for dairy products and the farming use of animals, which creates an emphasis on assuring the good health of the animals. The increasing poultry sector and the rising demand for dairy products are driving the growth of the segment.

• In October 2022, the Kansas State Veterinary Diagnostic Laboratory developed a new polymerase chain reaction-based test for blood-borne diseases like anaplasmosis and Theileriosis in cattle.

Regional Insight

North America dominated the animal diagnostics market in 2023. The dominance of the market in the region is attributed to rising urbanization and disposable income, which allows people to adopt pets and spend a heavy amount of money on their well-being, which drives the growth of the market. The increasing technological advancements in animal healthcare products and instruments are boosting the demand for animal diagnostics. Countries like the United States and Canada have higher adoption rates of pets and spend a significant amount on the pets' health every year, which drives the growth of the market across the region.

• In January 2023, Esaote launched the Magnifico Vet MRI system for veterinary hospitals in North America.

Asia Pacific is expected to witness significant growth in the animal diagnostics market during the forecast period. The growth of the animal diagnostics market is expected to increase due to the rising disposable income and the increasing number of nuclear families in urban areas. The rising cases of infectious and zoonotic diseases in animals in countries like India and China are driving the demand for animal diagnostics. The increasing spending on animal health by their owner and the government support for animal well-being is driving the growth of the animal diagnostics market across the region.

Animal Diagnostics Market Companies

• IDEXX Laboratories, Inc.
• Zoetis
• Antech Diagnostics, Inc. (Mars Inc.)
• Agrolabo S.p.A.
• Embark Veterinary, Inc.
• Esaote SPA
• Thermo Fisher Scientific, Inc.
• Innovative Diagnostics SAS
• Virbac
• FUJIFILM Corporation

Recent Developments

• In February 2024, Tata Trusts is about to launch its first-of-a-kind small veterinary hospital in Mumbai, India. The hospital is on five floors and has a capacity of over 200 beds. It is a super specialty hospital for pets and will provide 24/7 services.
• In February 2024, MiDOG Animal Diagnostics LLC, a leading player in the microbiome veterinary diagnostic works on the Next Generation DNA Sequencing analysis, introduced a renewed branding strategy in 2024. The latest branding includes the acceptance of MiDOG's technology for all animal species.
• In February 2024, IDEXX Laboratories, Inc., a leading player in pet healthcare innovations, announced the launch of the Vello, a software application that combines clients and veterinary practices through modern digital tools.

Segments Covered by the Report

By Products

• Kits and Reagents
• Instruments
• Software and Services

By Technology

• Molecular Diagnostics
• Hematology
• Immunodiagnostics

By Animal Type

• Companion Animal
• Livestock Animal

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa