Animal Health Diagnostics Market Size is growing at CAGR of 12.7%, this report covers analysis by Market Segmentation, Growth and Forecast 2024 - 2031
The "Animal Health Diagnostics Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Animal Health Diagnostics market is expected to grow annually by 12.7% (CAGR 2024 - 2031).
This entire report is of 106 pages.
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Animal Health Diagnostics Introduction and its Market Analysis
The animal health diagnostics market research report provides insights into the growing demand for diagnostic tests for diseases in animals. Animal health diagnostics involve the testing and monitoring of animals to ensure their health and well-being. The market is driven by factors such as the increasing prevalence of zoonotic diseases, the rising adoption of companion animals, and advancements in diagnostic technologies. Key players in the market include IDEXX Laboratories, Abaxis, Thermo Fisher Scientific, Neogen, Heska, Zoetis, QIAGEN, Biomerieux, Virbac, and Randox Laboratories. The report's main findings suggest a promising outlook for the animal health diagnostics market, with recommendations for companies to expand their product offerings and strengthen their distribution channels to capitalize on the growing demand.
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The global Animal Health Diagnostics market is segmented by type into Instruments and Consumables, with applications in Veterinary Hospitals, Veterinary Clinics, and Research Institutes. The market is driven by the increasing focus on preventive veterinary care and rising incidences of zoonotic diseases. Regulatory and legal factors specific to market conditions such as stringent government regulations for animal health diagnostics, increasing investments in research and development, and growing demand for point-of-care testing solutions are also shaping the industry. With advancements in technology and increasing awareness about animal health, the Animal Health Diagnostics market is expected to witness significant growth in the coming years. Veterinary stakeholders are investing in innovative diagnostic solutions to provide accurate and timely results for the overall well-being of animals.
Top Featured Companies Dominating the Global Animal Health Diagnostics Market
The global animal health diagnostics market is highly competitive with the presence of several key players, such as IDEXX Laboratories, Abaxis, Thermo Fisher Scientific, Neogen, Heska, Zoetis, QIAGEN, Biomerieux, Virbac, and Randox Laboratories. These companies offer a wide range of diagnostic products and services for various animal species, including livestock, companion animals, and wildlife.
IDEXX Laboratories is a leading player in the animal health diagnostics market, offering a comprehensive suite of diagnostic tests and equipment for veterinarians and pet owners. Abaxis and Thermo Fisher Scientific also provide a range of innovative diagnostic solutions for animal health, including point-of-care testing devices and laboratory equipment.
Neogen and Heska are known for their diagnostic products for food safety and animal health, while Zoetis is a major player in the animal pharmaceuticals market and also offers diagnostics solutions. QIAGEN and Biomerieux are global leaders in molecular diagnostics for human and animal health, while Virbac specializes in animal vaccines and pharmaceuticals.
Randox Laboratories, a UK-based company, offers a range of diagnostic tests for animal health, including avian and livestock testing kits. These companies play a crucial role in advancing the animal health diagnostics market by providing accurate and timely diagnostic solutions for veterinarians, researchers, and animal owners.
In terms of sales revenue, IDEXX Laboratories reported a revenue of $ billion in 2020, while Zoetis reported a revenue of $6.655 billion in the same year. These companies continue to invest in research and development to introduce new diagnostic technologies and expand their product offerings, driving growth in the animal health diagnostics market.
- IDEXX Laboratories (US)
- Abaxis (US)
- Thermo Fisher Scientific (US)
- Neogen (US)
- Heska (US)
- Zoetis (US)
- QIAGEN (Netherlands)
- Biomerieux (France)
- Virbac (France)
- Randox Laboratories (UK)
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Animal Health Diagnostics Market Analysis, by Type:
- Instruments
- Consumables
Animal health diagnostics can be classified into instruments and consumables. Instruments include devices like analyzers and imaging equipment, while consumables consist of testing kits, reagents, and other supplies. Both types play a crucial role in diagnosing and monitoring animal health conditions, helping veterinarians and livestock farmers make informed decisions on treatment and management. The demand for animal health diagnostics is boosted by the increasing prevalence of diseases in livestock and pets, as well as the growing focus on preventive healthcare. The availability of advanced diagnostic technologies and a rising awareness of animal welfare further drive market growth.
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Animal Health Diagnostics Market Analysis, by Application:
- Veterinary Hospitals
- Veterinary Clinics
- Research Institutes
Animal Health Diagnostics plays a crucial role in various applications such as Veterinary Hospitals, Veterinary Clinics, and Research Institutes by providing timely and accurate diagnosis of diseases in animals. In Veterinary Hospitals and Clinics, these diagnostics are used to determine the root cause of illnesses and prescribe appropriate treatments. In Research Institutes, they are used for studying disease outbreaks, monitoring animal health trends, and developing new drugs. The fastest growing application segment in terms of revenue is Veterinary Hospitals, as the demand for quality healthcare services for animals continues to rise due to increasing pet ownership and awareness of animal welfare.
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Animal Health Diagnostics Industry Growth Analysis, by Geography:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The animal health diagnostics market is expected to witness significant growth in North America, particularly in the United States and Canada, due to the increasing awareness about animal health and rise in adoption of companion animals. In Europe, countries like Germany, France, ., Italy, and Russia are projected to dominate the market with a substantial market share due to the presence of well-established healthcare infrastructure. In the Asia-Pacific region, China, Japan, South Korea, India, Australia, Indonesia,Thailand, and Malaysia are anticipated to witness rapid growth in the market. Latin America, led by Mexico, Brazil, Argentina, and Colombia, is also expected to experience a surge in demand for animal health diagnostics. The Middle East & Africa region, including Turkey, Saudi Arabia, UAE, and Korea, is expected to show steady growth in the market. The expected market share of the Animal Health Diagnostics market in different regions are as follows: North America - 35%, Europe - 25%, Asia-Pacific - 20%, Latin America - 10%, Middle East & Africa - 10%.
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