Product Code: GVR-4-68040-118-3
Veterinary Diagnostic Services Market Growth & Trends:
The global veterinary diagnostic services market size is projected to reach USD 21.12 billion by 2030 and is anticipated to register a CAGR of 7.73% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The increasing need for early disease diagnosis due to growing concern about animal health is one of the key factors driving the market growth. Furthermore, the rising prevalence of chronic disorders, including cancer, obesity, and diabetes, and the need for effective disease diagnosis in animals is expected to supplement market growth. For instance, as per the American Kennel Club report published in February 2020, 56% of canines are recorded as obese in the U.S. The risk of joint problems, developing cancer, diabetes, and various other chronic diseases is significantly increased by obesity. The adoption of veterinary diagnostic services increased because of the regular diagnosis of glucose levels due to the pet owners' growing concern. In addition, the rising demand for point-of-care trea
tments and improved diagnostic tests is fueling the market's growth. It includes a variety of dermatology tests to detect dermatophytes, ELISA, and PCR for detecting parasites and viruses, including parvovirus, leishmania, hepatitis, coronavirus, etc.
In addition, the rising prevalence of zoonotic diseases such as avian influenza in livestock animals is increasing the demand for veterinary diagnostic services, driving the growth of the market. For instance, in April 2022, the Government of Canada issued a report on avian influenza; according to the report, multiple bird species, including turkeys, ducks/chickens, geese, and peafowls, were infected with avian influenza in 33 EU countries in March 2022. All livestock species were affected by the disease, which caused an increase in molecular diagnostic tests for the disease's diagnosis, leading to increased demand for in-vitro veterinary diagnostic services. Thus, the growing demand for in-vitro and in-vivo diagnostic services is contributing to market growth.
The pandemic had a favorable effect on the veterinary diagnostic services industry, induced by the sudden rise in the number of people owning cats and dogs, animal humanization movements, and the expansion of telemedicine platforms.Government rules forced the suspension of numerous healthcare services, particularly veterinary diagnostics services, which had a significant impact on the market for veterinary diagnostics as a result of the COVID-19 outbreak. For instance, according to a JAAWS article from February 2022, COVID-19 caused the closure of 70% of veterinary hospitals in Canada & the U.S. in 2020. To reduce the COVID-19 infection, veterinary diagnostic services were suspended, which initially hindered the growth of the market. Furthermore, the pandemic increased prognostic awareness among pet owners to prevent pet diseases with timely treatments. This factor is expected to propel the market growth in the long run.
The rapidly aging pet population and the growing risk of various chronic diseases associated with age are among the key factors likely to drive routine diagnosis and respective high expenditure on pets by owners. According to VCA Animal Hospitals, veterinarians often prescribe senior pets to undergo wellness testing programs, including routine check-ups, complete blood count, biochemistry profile, urinalysis, and thyroid hormone testing, to detect ongoing or prognostic health problems. Moreover, the growing demand for advanced veterinary diagnostic tests for senior pets in developed and developing countries is also contributing to market growth.
Veterinary Diagnostic Services Market Report Highlights:
- In terms of test type, the in vitro diagnosis segment dominated the market in 2022 with a revenue share of over 86%. The growing number of avian influenza cases in livestock animals is increasing the demand for in-vitro diagnostic tests, which is driving the growth of the segment. The in vivo diagnosis segment, on the other hand, is projected to witness the fastest CAGR of over 8% during the forecast period
- In terms of animal type, the companion animals segment held the largest market share in 2022 with a revenue share of over 59 %. In contrast, the production animals segment is estimated to witness the fastest CAGR of more than 8% during the forecast period
- In terms of the testing category, the clinical chemistry segment dominated the market in 2022 with a revenue share of over 23%. The cytopathology segment is anticipated to witness the fastest CAGR of approximately 11% during the forecast period due to emerging applications of AI in veterinary medicine
- In terms of sector, the private sector held the largest market share in 2022 and is anticipated to grow at the fastest CAGR of over 7% over the forecast period
- In terms of service provider, the veterinary hospital/clinic laboratories segment held the largest revenue share in 2022, owing to the increasing demand for diagnostics and readily accessible advanced diagnostic technologies in hospitals. The reference laboratories segment is anticipated to grow at the fastest CAGR of 9% from 2023 to 2030
- Based on type, the point-of-care segment dominated the market in 2022 with a revenue share of over 57%. The laboratory-based segment is anticipated to grow at the fastest CAGR of over 8% during the forecast period
- Based on region, in 2022, North America held the largest revenue share of over 38% in the market. The Asia Pacific region is projected to grow at the fastest CAGR of over 10% during the forecast period
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation and Scope
- 1.1.1 Regional scope
- 1.1.2 Estimates and forecast timeline
- 1.2 Research Methodology
- 1.3 Information Procurement
- 1.3.1 Purchased database
- 1.3.2 GVR's internal database
- 1.3.3 Secondary sources
- 1.3.4 Primary research
- 1.4 Information/Data Analysis
- 1.4.1 Information analysis
- 1.5 Market formulation & visualization
- 1.6 Data validation & publishing
- 1.7 Model Details
- 1.7.1 Approach 1: Parent Market Analysis
- 1.7.2 Approach 2: Commodity/ Services Flow Analysis
- 1.7.2.1 Hybrid market estimation Model
- 1.7.3 Global Market: CAGR Calculation
- 1.8 Market Definitions & Scope
- 1.9 List of Secondary Sources
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot (Test Type, Animal Type, Sector)
- 2.3 Segment Snapshot (Testing Category)
- 2.4 Segment Snapshot (Service Provider, Type)
- 2.5 Competitive Landscape Snapshot
Chapter 3 Veterinary Diagnostic Services Market Variables, Trends, & Scope
- 3.1 Market Lineage Outlook
- 3.1.1 Parent market analysis
- 3.1.2 Ancillary Market Analysis
- 3.2 Veterinary Diagnostic Services Market Dynamics/ Industry Trends
- 3.2.1 Market Driver Impact Analysis
- 3.2.1.1 Significant Animal Population & Ownership Rates
- 3.2.1.2 Rising Awareness of Early Disease Diagnosis
- 3.2.1.3 Increasing Adoption of Pet Insurance
- 3.2.1.4 Technological Advancements in Veterinary Diagnosis
- 3.2.2 Market restraint analysis
- 3.2.2.1 Shortage Of Board-Certified Veterinarians
- 3.2.2.2 Increasing Incidence of Pet Abandonment and Euthanasia
- 3.2.3 Market Opportunity Analysis
- 3.2.4 Challenges Faced by Veterinary Diagnostic Service Providers
- 3.3 Veterinary Diagnostic Services Market: Porter's 5 Forces Analysis
- 3.3.1 Threat of New Entrants: Moderate to High
- 3.3.2 Threat of Substitutes: Moderate
- 3.3.3 Bargaining Power of Buyers: high
- 3.3.4 Bargaining Power of Suppliers: Low
- 3.3.5 Competitive Rivalry: High
- 3.4 Veterinary Diagnostic Services Market: PESTEL Analysis
- 3.4.1 Political & Legal
- 3.4.2 Economic
- 3.4.3 Social
- 3.4.4 Technological
- 3.4.5 Environmental
- 3.5 Estimated Animal Population, 2022, by Key Countries & Key Species
- 3.6 COVID-19 Impact Analysis
- 3.7 Estimated Medicalization Rate
Chapter 4 Test Type Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 4.1 Veterinary Diagnostic Services Market by Test Type: Key Takeaways
- 4.2 Test Type Movement Analysis & Market Share, 2022 & 2030
- 4.3 Veterinary Diagnostic Services Market Estimates & Forecast by Test Type (USD Million)
- 4.4 In Vitro Diagnosis
- 4.4.1 In Vitro Diagnosis market estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5 In Vivo Diagnosis
- 4.5.1 In Vivo Diagnosis market estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5 Animal Type Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 5.1 Veterinary Diagnostic Services Market by Animal Type: Key Takeaways
- 5.2 Animal Type Movement Analysis & Market Share, 2022 & 2030
- 5.3 Veterinary Diagnostic Services Market Estimates & Forecast, By Animal Type (USD Million)
- 5.3.1 Veterinary Diagnostic Services Market Estimates & Forecast, By Companion Animals (USD Million)
- 5.3.2 Veterinary Diagnostic Services Market Estimates & Forecast, By Production Animals (USD Million)
- 5.4 Companion Animals
- 5.4.1 Companion Animals market estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4.2 Dogs
- 5.4.2.1 Dogs market estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4.3 Cats
- 5.4.3.1 Cats market estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4.4 Horses
- 5.4.4.1 Horses market estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4.5 Others
- 5.4.5.1 Others market estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5 Production Animals
- 5.5.1 Production Animals market estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5.2 Cattle
- 5.5.2.1 Cattle market estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5.3 Poultry
- 5.5.3.1 Poultry market estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5.4 Swine
- 5.5.4.1 Swine market estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5.5 Others
- 5.5.5.1 Others market estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6 Testing Category Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 6.1 Veterinary Diagnostic Services Market by Testing Category: Key Takeaways
- 6.2 Testing Category Movement Analysis & Market Share, 2022 & 2030
- 6.3 Veterinary Diagnostic Services Market Estimates & Forecast by Testing Category (USD Million)
- 6.4 Clinical Chemistry
- 6.4.1 Clinical Chemistry market estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5 Microbiology
- 6.5.1 Microbiology market estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6 Parasitology
- 6.6.1 Parasitology market estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.7 Histopathology
- 6.7.1 Histopathology market estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.8 Cytopathology
- 6.8.1 Cytopathology market estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.9 Hematology
- 6.9.1 Hematology market estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.10 Immunology & Serology
- 6.10.1 Immunology & Serology market estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.11 Imaging
- 6.11.1 Imaging market estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.12 Molecular Diagnostics
- 6.12.1 Molecular Diagnostics market estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.13 Other Categories
- 6.13.1 Other Categories market estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7 Sector Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 7.1 Veterinary Diagnostic Services Market by Sector: Key Takeaways
- 7.2 Sector Movement Analysis & Market Share, 2022 & 2030
- 7.3 Veterinary Diagnostic Services Market Estimates & Forecast, By Sector (USD Million)
- 7.4 Public
- 7.4.1 Public market estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5 Private
- 7.5.1 Private market estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8 Service Provider Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 8.1 Veterinary Diagnostic Services Market by Service Provider: Key Takeaways
- 8.2 Service Provider Movement Analysis & Market Share, 2022 & 2030
- 8.3 Veterinary Diagnostic Services Market Estimates & Forecast, By Service Provider (USD Million)
- 8.4 Veterinary Hospital/Clinic Laboratories
- 8.4.1 Veterinary Hospital/Clinic Laboratories market estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.5 Reference Laboratories
- 8.5.1 Reference Laboratories market estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 9 Type Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 9.1 Veterinary Diagnostic Services Market by Type: Key Takeaways
- 9.2 Type Movement Analysis & Market Share, 2022 & 2030
- 9.3 Veterinary Diagnostic Services Market Estimates & Forecast, By Type (USD Million)
- 9.4 Point-of-Care (POC)
- 9.4.1 Point-of-Care (POC) market estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.5 Laboratory-Based
- 9.5.1 Laboratory-Based market estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 10 Regional Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 10.1 Regional Outlook
- 10.2 Regional Market Share Analysis, 2022 & 2030
- 10.3 Regional Marketplace, Key Takeaways
- 10.4 Regional Marketplace, Key Takeaways
- 10.5 North America
- 10.5.1 North America Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.5.2 U.S.
- 10.5.2.1 Key Country Dynamics
- 10.5.2.2 U.S. Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.5.3 Canada
- 10.5.3.1 Key Country Dynamics
- 10.5.3.2 Canada Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6 Europe
- 10.6.1 Europe Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.2 Germany
- 10.6.2.1 Key Country Dynamics
- 10.6.2.2 Germany Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.3 UK
- 10.6.3.1 Key Country Dynamics
- 10.6.3.2 UK Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.4 France
- 10.6.4.1 Key Country Dynamics
- 10.6.4.2 France Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.5 Spain
- 10.6.5.1 Key Country Dynamics
- 10.6.5.2 Spain Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.6 Italy
- 10.6.6.1 Key Country Dynamics
- 10.6.6.2 Italy Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.7 Netherlands
- 10.6.7.1 Key Country Dynamics
- 10.6.7.2 Netherlands Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.8 Sweden
- 10.6.8.1 Key Country Dynamics
- 10.6.8.2 Sweden Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.9 Denmark
- 10.6.9.1 Key Country Dynamics
- 10.6.9.2 Denmark Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.6.9.3 Rest Of Europe Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.7 Asia Pacific
- 10.7.1 Asia Pacific Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.7.2 Japan
- 10.7.2.1 Key Country Dynamics
- 10.7.2.2 Japan Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.7.3 China
- 10.7.3.1 Key Country Dynamics
- 10.7.3.2 China Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.7.4 India
- 10.7.4.1 Key Country Dynamics
- 10.7.4.2 India Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.7.5 Australia
- 10.7.5.1 Key Country Dynamics
- 10.7.5.2 Australia Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.7.6 South Korea
- 10.7.6.1 Key Country Dynamics
- 10.7.6.2 South Korea Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.7.6.3 Rest Of Asia Pacific Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.8 Latin America
- 10.8.1 Latin America Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.8.2 Brazil
- 10.8.2.1 Key Country Dynamics
- 10.8.2.2 Brazil Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.8.3 Mexico
- 10.8.3.1 Key Country Dynamics
- 10.8.3.2 Mexico Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.8.3.3 Rest Of Latin America Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.9 MEA
- 10.9.1 MEA Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.9.2 South Africa
- 10.9.2.1 Key Country Dynamics
- 10.9.2.2 South Africa Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.9.3 Saudi Arabia
- 10.9.3.1 Key Country Dynamics
- 10.9.3.2 Saudi Arabia Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 10.9.3.3 Rest of MEA Veterinary Diagnostic Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 11 Competitive Landscape
- 11.1 Participant's Overview
- 11.2 Financial Performance
- 11.3 Participant Categorization
- 11.3.1 Market Participation Categorization
- 11.3.2 Global Market Position Analysis (Heat Map Analysis)
- 11.3.3 Strategy Mapping
- 11.3.3.1 Expansion
- 11.3.3.2 Mergers And Acquisitions
- 11.3.3.3 Product Launch
- 11.3.3.4 Partnerships & Collaborations
- 11.3.3.5 Others
- 11.4 List of Other Market Players by Region