Veterinary Diagnostics Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Hematology tests, Immunodiagnostics, Clinical Chemistry, Molecular Testing), By Animal Type (Canine, Feline, Bovine, Poultry (Poultry ELISA, Poultry PCR), Swine (Poultry ELISA, Poultry PCR) Others), By End User (Veterinary Hospitals, Veterinary Clinics, Research Laboratories) and Region

Veterinary Diagnostics Market size was valued at US$ 2.7 billion in 2023 and is poised to grow at a CAGR of 9.5% from 2024-2030. Veterinary diagnostics are noninvasive ways of identifying and investigating the origins of animal ailments. Several novel technologies from the human diagnostics sector are being developed for use in the veterinary field. This pattern is projected to continue in the future, contributing to the market's expansion. The expansion of this market is being driven by an increase in the number of disease outbreaks in animals and zootonic diseases affecting humans. In addition, the growing quantity of food-producing and companion animals is fueling market expansion.

The growing trend toward a vegetarian diet, as well as economic uncertainties, are important obstacles for this sector. Companion animals such as cats, dogs, and horses have played an important part in the lives of many people. The animals provide companionship, demand care, and attention, and respond with affection. Increasing various zoonotic diseases, the rapid expansion of swine flu, and bird flu are expected to create potential opportunities for the animal diagnostics market. Increasing adoption of advanced technologies to diagnose the diseases enables creation of demand for the veterinary diagnostics market over the forecast period. Moreover, increased demand for meat and dairy products is expected to attract the demand for veterinary diagnostics. Rising demand for minimally invasive diagnostic methods coupled with the availability of novel products is expected to fuel the market revenue for veterinary diagnostics devices over the forecast period. A surge in companion animal adoption coupled with rising disposable income is expected to boost the veterinary vaccines market. However, stringent regulations such as prohibiting veterinary OTC medicine and higher cost of the products are expected to act as major roadblocks for the market revenue growth over the forecast period.

Veterinary Diagnostics Market Key Developments:

• In April 2017, BioCheck launched two new PCR test kits. These are the New Castle disease virus multiplex RNA test kit, and the multispecies campylobacter multiplex DNA test kit.