Veterinary Diagnostic Services Market to Grow with a CAGR of 7.25% through 2029
Rising pet ownership and growing zoonotic disease concerns
are factors driving the Global Veterinary Diagnostic Services Market in the
forecast period 2025-2029
According to TechSci Research report, “Veterinary
Diagnostic Services Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2029F”, the Global Veterinary
Diagnostic Services Market stood at USD 11.52 billion in 2023 and is anticipated
to grow with a CAGR of 7.25% through 2029.
The global veterinary diagnostic services market is undergoing substantial growth, propelled by various factors reshaping the animal healthcare sector. With the increasing demand for pet care and livestock health, there's a heightened need for accurate and efficient diagnostic services for animals.
A primary driver of this market is the rising number of pet owners worldwide. As people increasingly consider their pets as integral family members, the demand for top-tier veterinary care and diagnostic services has surged. This trend is particularly notable in developed nations but is also gaining traction in emerging markets where disposable incomes are rising, and awareness of pet healthcare is improving. Also, the global demand for animal-derived products like meat, dairy, and eggs is escalating due to a growing global population and shifting dietary preferences. This surge has led to significant expansion in the livestock industry. Farmers and livestock producers are increasingly realizing the importance of regular health monitoring and disease prevention for their animals. Veterinary diagnostic services play a pivotal role in ensuring the health and productivity of livestock, thus driving the market's growth.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Veterinary Diagnostic Services Market”
The veterinary diagnostic services market has experienced substantial growth, propelled by advancements in diagnostic technologies. These innovations have streamlined the diagnosis of diseases, infections, and other health issues in animals, facilitating quick and accurate assessments. Molecular diagnostics, digital imaging, and point-of-care testing represent notable technological advancements that have bolstered the capabilities of veterinary diagnostic services, enhancing the overall quality of animal healthcare. The emergence of zoonotic diseases, which can transmit from animals to humans, has heightened global awareness regarding the necessity for robust veterinary diagnostics. Diseases like avian influenza, Ebola, and COVID-19 have underscored the importance of monitoring and managing diseases in animal populations. Veterinary diagnostic services play a vital role in not only safeguarding animal health but also protecting human health. Consequently, governments and organizations worldwide are investing in veterinary diagnostics to curb the spread of zoonotic diseases.
Governments and regulatory bodies are increasingly acknowledging the significance of veterinary diagnostics in upholding animal health, food safety, and public health. They are implementing stringent regulations and standards to ensure the quality and accuracy of diagnostic services. Adherence to these regulations is driving the adoption of standardized diagnostic procedures, thereby propelling market growth. Also, education and awareness initiatives concerning animal health and the advantages of regular check-ups have contributed to the expansion of the veterinary diagnostic services market. Pet owners and livestock farmers are gaining greater insights into the importance of early disease detection and the benefits of preventive healthcare. This heightened awareness has fostered a greater willingness to invest in veterinary diagnostic services.
The Global Veterinary Diagnostic Services Market is
segmented into test type, animal type, testing, sector and company.
Based on sector, the private sector segment has
emerged as the predominant market leader. Private sector companies are known for their
significant investments in state-of-the-art diagnostic equipment and
technologies. These investments have allowed them to offer a wider range of
diagnostic tests and faster results. By harnessing innovations in diagnostic
imaging, molecular biology, and other cutting-edge techniques, private
companies have set new standards for accuracy and speed in veterinary
diagnostics. Private sector companies often have a broader network of
diagnostic laboratories and clinics, making their services more accessible to
veterinarians and pet owners. Their investment in infrastructure and services
has resulted in shorter turnaround times, making it easier for veterinarians to
diagnose and treat animal health conditions promptly.
The Asia Pacific region is experiencing rapid market
growth. Asia Pacific region has seen a surge in pet ownership,
with many households considering their pets as part of the family. This growing
concern for animal health has led to an increased demand for veterinary
services and diagnostic testing. People are willing to invest in comprehensive
healthcare for their pets, driving the veterinary diagnostic services market.
Major companies operating in Global Veterinary
Diagnostic Services Market are:
- Zoetis
Services LLC
- Antech Diagnostics, Inc.
- IDEXX Laboratories, Inc.
- Neogen Corporation
- The Animal Medical Center Inc.
- Embark Veterinary, Inc.
- SYNLAB International GmbH
- NationWide Laboratories
- Ellie Diagnostics
- VETERINARY HEALTHCARE COMPANY
Download Free Sample Report
Customers can also request 10% free customization on
this report
“The global
veterinary diagnostic services market is on a trajectory of significant growth,
driven by a combination of factors. The rise in pet ownership, increased demand
for animal-derived products, technological advancements, concerns about
zoonotic diseases, regulatory support, and growing awareness have all played
pivotal roles in shaping the market. As the world continues to prioritize
animal health and welfare, the veterinary diagnostic services market is poised
for continued expansion, with innovation and quality services at the forefront
of its development.” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based management consulting firm.
“Veterinary Diagnostic Services Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Test Type (In-Vitro Diagnosis, In-Vivo Diagnosis), By Animal Type (Companion Animals, Production Animals), By Testing (Clinical Chemistry, Microbiology, Parasitology, Histopathology, Cytopathology, Hematology, Immunology & Serology, Imaging, Molecular Diagnostics, Others), By Sector ( Public, Private), By Region and Competition, 2019-2029F”, has evaluated
the future growth potential of Global Veterinary Diagnostic Services Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Veterinary Diagnostic Services Market.
Contact
Techsci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
Tel:
+13322586602
Email:
[email protected]
Website:
www.techsciresearch.com