PUBLISHER: The Business Research Company | PRODUCT CODE: 1392956
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392956
“Veterinary Infectious Disease Diagnostics Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on veterinary infectious disease diagnostics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for veterinary infectious disease diagnostics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The veterinary infectious disease diagnostics market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Veterinary infectious disease diagnostics refer to diagnostic services used for the identification of infectious diseases in animals, encompassing infectious diseases and factors impacting the health of livestock, domestic animals, and wildlife. These diagnostics have become essential for ensuring the overall well-being of animals by diagnosing infections in various animal types.
The primary types of veterinary infectious disease diagnostics include viral infections, bacterial infections, parasitic infections, and other infections. Bacterial infections can be transmitted from dogs to humans through dog bites, while other infections caused by protozoa typically have a fecal-oral transmission route. Different animals, such as companion animals and food-producing animals, are covered by these diagnostics, utilizing various technologies like immunodiagnostics, molecular diagnostics, and other diagnostic methods. These diagnostic services are utilized across different settings, including reference laboratories, veterinary hospitals and clinics, point of care facilities, research institutes and universities, and other end-user environments.
The veterinary infectious disease diagnostics market research report is one of a series of new reports from The Business Research Company that provides veterinary infectious disease diagnostics market statistics, including veterinary infectious disease diagnostics industry global market size, regional shares, competitors with a veterinary infectious disease diagnostics market share, detailed veterinary infectious disease diagnostics market segments, market trends and opportunities, and any further data you may need to thrive in the veterinary infectious disease diagnostics industry. This veterinary infectious disease diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The veterinary infectious disease diagnostics market size has grown strongly in recent years. It will grow from $1. 77 billion in 2023 to $1. 95 billion in 2024 at a compound annual growth rate (CAGR) of 9. 9%. The expansion observed in the historical period can be attributed to several factors, including the increasing trend of pet ownership, rising awareness of the importance of animal health, and supportive government initiatives.
The veterinary infectious disease diagnostics market size is expected to see strong growth in the next few years. It will grow to $2. 82 billion in 2028 at a compound annual growth rate (CAGR) of 9. 7%. The anticipated growth in the forecast period can be attributed to several factors, including the emergence of new diseases, increased research and development efforts, the globalization of veterinary practices, and the growing population of livestock. Key trends expected in the forecast period encompass technological innovations in veterinary infectious disease diagnostics, the rapid adoption of point-of-care testing, the integration of molecular diagnostics, digitalization in veterinary healthcare, the expansion of product portfolios by industry players, collaborations and partnerships within the veterinary diagnostic sector, and the development of customized diagnostics tailored for different animal species.
The veterinary infectious disease diagnostics market is anticipated to witness growth due to the increasing incidence of transboundary and zoonotic diseases such as rabies. Zoonotic diseases involve the spontaneous transmission of infections between humans and vertebrate animals, and veterinary infectious disease diagnostics play a crucial role in detecting diseases like rabies in pets and animals, preventing fatalities. In 2021, the World Health Organization reported rabies cases in over 150 nations and territories, with dogs being the primary source of human rabies deaths. The rising incidence of transboundary and zoonotic diseases, particularly rabies, is a key factor driving the growth of the veterinary infectious disease diagnostics market.
The veterinary infectious disease diagnostics market is also expected to benefit from the increasing trend of pet adoption. As more individuals welcome pets into their families, there is a heightened awareness and concern for their health, leading to a growing demand for animal treatments and diagnostics. Pet owners are increasingly willing to invest in medical care, routine check-ups, and preventive measures. According to Chewy Inc., around 977,202 pets were adopted in the US in 2021, marking the highest adoption rate in the past six years. Hence, the rising rate of pet adoption is a significant driver for the veterinary infectious disease diagnostics market.
Technological advancements have emerged as a prominent trend in the veterinary infectious disease diagnostics market, with major companies introducing innovative technologies to maintain their market positions. For example, Merck Animal Health launched SenseHub Feedlot, a technology-enabled solution based on electronic ear tag technology. This system swiftly detects illness, provides reliable disease diagnoses, and allows for early intervention to manage pain in cattle more effectively than traditional methods.
Major companies operating in the veterinary infectious disease diagnostics market are also intensifying their focus on developing and introducing drugs for multiple diseases. One such example is the drug Increxxa, approved for treating livestock respiratory disease. Elanco Animal Health Incorporated introduced Increxxa, featuring tulathromycin as the key ingredient, delivered via injection to swiftly target and act on lung infections in livestock. Tulathromycin helps mitigate the negative effects of bovine respiratory disease in animals. This strategic focus on drug development is aimed at gaining a competitive edge in the veterinary infectious disease diagnostics market.
In September 2022, Zoetis Inc., a prominent animal health company, acquired NewMetrica for an undisclosed amount. This acquisition enhances Zoetis's portfolio in pain management for animal diseases, strengthens quality-of-life assessment capabilities, and extends the reach of their animal diagnostic products to Europe. NewMetrica, a UK-based company, specializes in developing instruments and devices for pain management in animals.
Major companies operating in the in the veterinary infectious disease diagnostics market report are Zoetis Inc., IDEXX Laboratories Inc., Thermo Fisher Scientific Inc., QIAGEN N. V., IDvet, NEOGEN Corporation, INDICAL BIOSCIENCE GmbH, Randox Laboratories Ltd, Creative Diagnostics, Heska Corporation, Chembio Diagnostics Inc., URIT Medical Electronic Co. Ltd., NTBIO Diagnostics Inc., Bio-X Diagnostics, Agrolabo Spa, Virbac, Covetrus Inc., Biomerieux S. A., Bio-Rad Laboratories Inc., Eurofins Scientific SE, Fujifilm Wako Pure Chemical Corporation, GenScript Biotech Corporation, Merck KGaA, MP Biomedicals LLC, Quidel Corporation, Roche Diagnostics Corporation, Siemens Healthineers AG, Sysmex Corporation, VCA Inc., Vetoquinol SA
North America was the largest region in the veterinary disease diagnostics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary infectious disease diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the veterinary infectious disease diagnostics market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The veterinary infectious disease diagnostics market includes revenues earned by entities by identifying and determining whether an animal has any viral, bacterial, parasitic, or other types of illnesses. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.