GVR Report cover Veterinary Biomarkers Market Size, Share & Trends Report

Veterinary Biomarkers Market Size, Share & Trends Analysis Report By Animal Type (Companion Animals, Production Animals), By Product Type, By Application, By Disease Type, By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-960-0
  • Number of Pages: 150
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2020
  • Industry: Healthcare

Report Overview

The global veterinary biomarkers market size was estimated at USD 716.9 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.5% from 2022 to 2030. The increasing prevalence of chronic conditions such as cancer and cardiovascular diseases in animals is fueling the demand for biomarker-based assay diagnostic kits in veterinary applications, to predict the disease in its early stages. The R&D activities implemented by key companies to enhance biomarker portfolios are anticipated to boost the market growth. In addition, the growing companion animal population and rising pet adoption rates are other factors boosting the growth of the market for veterinary biomarkers. For instance, in November 2021, American Veterinary Medical Association reported that the companion animal population has increased significantly from 2016 to 2020.

North America veterinary biomarkers market size, by animal type, 2020 - 2030 (USD Billion)

As per the article, the dog population in the U.S. was estimated at 76.8 million in 2016 which increased to 83.7 million in 2020. Similarly, the cat population increased from 58.4 to 60 million from 2016 to 2020. This is expected to contribute to market growth.

The COVID-19 pandemic has resulted in a market decline, especially in 2020. This unfavorable impact is mainly due to the lockdown declaration in various countries and respective restricted access to and closure of veterinary services. The pandemic has created barriers among animal owners in accessing better veterinary care due to the forced limitation and cancellation of veterinary appointments. According to American Veterinary Medical Association, in the U.S., the veterinary service during the pandemic has been a challenge for veterinarians.  However, veterinary practices have been considered an essential healthcare business in the country.

The key market players have faced difficult challenges in maintaining veterinary product supply due to the uncertainty of distribution channels. However, the key players and the Government agencies have taken various measures to continue their animal healthcare business throughout the pandemic. For instance, Merck & Co., Inc. took comprehensive measures to overcome the pandemic challenges and has significantly maintained its animal health business. The company reported worldwide sales of USD 12.5 Billion in the final quarter of 2020. This was a 5% increase from the previous year.

Some of the key drivers propelling the veterinary biomarkers market include the increasing adoption of R & D by key companies, expansion of product offerings, increased animal healthcare expenditure, and post-pandemic return to normal. For instance, according to the Insurance Information Institute, Inc., pet care expenditure grew from USD 53.3 in 2012 to USD 123.6 in 2021. Out of which, nearly USD 1,480 is spent per dog and USD 943 is spent per cat in a year. Similarly, as per FEDIAF, in 2020 nearly 21.8 billion is spent on pet-food products and 21.2 billion is spent on other pet-related services and products in Europe. These affirmative factors are attributed to the growth of the market during the forecast period.

Animal Type Insights

The companion animals segment dominated the market for veterinary biomarkers in 2021. This is due to the rising adoption rates of dogs, and the significant disease prevalence rates that were seen among them. According to American Veterinary Medical Association, 45% of American households owned dogs in 2020. Similarly, according to the European Pet Food Industry, nearly 88 million households in Europe owned a pet, and the cat population rate in the region was estimated to be 110 million followed by dogs with 90 million in 2020. In addition, the COVID-19 pandemic has encouraged most people in the world to adopt companion animals for psychological comfort.

The production animal segment accounted for a significant share in the market for veterinary biomarkers in 2021, owing to the growing population of production animals such as cattle, and livestock in developing countries such as China, India, and Japan. For instance, according to the National Dairy Development Board, the cattle population in India grew from 185 million in 2003 to 193 million in 2019. Similarly, the total bovine population increased from 283 million in 2003 to 302 million in 2019. In addition, the growing prevalence of serious infectious diseases such as tuberculosis among the production animals is a major concern to increase numerous diagnostic approaches.

Product Type Insights

The biomarkers, kits, and reagents segment held the largest revenue share in 2021. This is owing to the wide availability of major brands of biomarkers and test kits launched by key players in the market. The veterinarians prefer sensitive and accurate disease diagnostic approaches using biomarker test kits to understand the progression of the disorder and to provide specific treatments targeting the biological indicator of the disease. In addition, the growing awareness of biomarker application in the veterinary field in developing countries is fueling the growth of the market for veterinary biomarkers in recent years.

The biomarker readers segment is expected to witness a significant revenue share over the forecast period owing to the growing diagnosis rate in veterinary practices. As human biomarker readers are not accurate and calibrated for animal readings, specific veterinary biomarker readers have been launched by the key players. For instance, Virbac launched an intuitive and compact laser-based fluorescent reader called Speed Reader that exactly measures the biomarker concentration in animal serum or plasma samples. This factor is fueling the growth of the segment in the market for veterinary biomarkers.

Application Insights

The disease diagnostics segment held the largest revenue share of 57.9% in 2021. This is owing to the growing number of veterinary admissions in both developed and developing countries for numerous diseases diagnosis. In addition, the rising number of veterinary clinics and hospitals with trained veterinarians is another factor that boosts the growth of the segment. For instance, according to the Federation of Veterinarians of Europe, the number of veterinarians was approximately 263 million in Europe in 2019.

The preclinical research segment held a significant market share in 2021 and is expected to witness the fastest CAGR during the forecast period. This is owing to the increasing research and development activities in the area of veterinary biomarkers and post-genomic technologies. The advanced strategies initiated by animal health key players to identify novel biomarkers or disease indicators are further enhancing the opportunity for segment growth. For instance, Boehringer Ingelheim announced in April 2022, that the company welcomes any partnership or collaboration to develop novel cancer therapeutic concepts with a specific biomarker-based approach. 

Disease Type Insights

The inflammatory and infectious diseases segment held the largest revenue share of over 35% in 2021. This is owing to the growing prevalence of various types of infectious diseases that arises among companion and production animals. The concern of the government to prevent zoonotic disease transmission from animals to humans has led to various diagnostic strategies in many countries. The penetration of biomarker-based diagnostic kits is rising in such activities, thereby widening the scope of the products in the market for veterinary biomarkers.

Global veterinary biomarkers market share, by disease type, 2021 (%)

Other disease types such as cardiovascular diseases and cancer are commonly prevailing among animals demanding more attention for proper diagnosis. Most of these diseases are commonly asymptomatic and widely getting ignored until the progression of serious stages. For instance, according to the University of Kentucky, U.K., most of the cattle infected with cancer show no sign, thereby being neglected for timely treatments leading to 5-20% of sudden death cases. Hence, the demand for accurate diagnostic tests to predict progressing diseases and their risk factors in benign stages is widely growing.

Regional Insights

North America held more than a 35.0% share of the market in 2021. The high share of the region is due to the significant presence of key players, the adoption of various strategies initiated by key companies to increase market penetration, rising research activities, rising diagnostic rates, and increasing animal population and vet care expenditure. The growing number of veterinary clinics with licensed and trained veterinarians in the countries is another factor to boost the growth of the market for veterinary biomarkers.  According to the AVMA, in 2020 nearly 118,624 licensed veterinarians were estimated in the U.S. which majorly catered to companion animal patients.

Veterinary Biomarkers Market Trends by Region

Europe region held the second-largest revenue share in 2021. This is owing to the presence of major key players such as Virbac, ACUVET BIOTECH, and others in European countries. The Asia Pacific region is estimated to grow fast with a CAGR of over 13.66% in the next few years. This is attributable to the rising animal healthcare expenditure and disposable income in key markets coupled with rising awareness for biomarkers in veterinary practices. The growing demand for the proper and timely diagnosis of numerous diseases, and pet humanization in developing countries like India are further boosting the growth of the market for veterinary biomarkers.

Key Companies & Market Share Insights

The market for veterinary biomarkers is emerging and consolidated. Leading players deploy numerous strategic initiatives that include competitive pricing strategies, partnerships, product expansion, sales and marketing initiatives, and mergers and acquisitions. For instance, in October 2021, Zoetis opened a new manufacturing site in Ireland. This expanded its capacity for the production of monoclonal antibodies. Similarly, the manufacturers are launching novel biomarker-based products that boost their leadership position in the industry.  For instance, in August 2019, Zoetis launched Stablelab hand-held biomarker reader, which detects the Serum Amyloid A biomarker to diagnose inflammation conditions in horses. It expanded the equine portfolio of the company. Such activities are increasing their share in the industry. Some of the prominent players in the veterinary biomarkers market include:  

  • Zoetis

  • Virbac

  • Life Diagnostics

  • ACUVET BIOTECH

  • Merck & Co., Inc.

  • IDEXX Laboratories, Inc.

  • MI:RNA Diagnostics Ltd.

  • Mercodia AB

  • Antech Diagnostics, Inc.

  • Avacta Animal Health Limited

Veterinary Biomarkers Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 0.8 billion

Revenue forecast in 2030

USD 2.0 billion

Growth rate

CAGR of 12.5% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Animal type, product type, application, disease type, region

Regions covered

North America; Europe; Asia Pacific; Latin America; MEA

Country Scope

U.S.; Canada; U.K.; Germany; Italy; France; Spain; Japan; China; India; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia

Key companies profiled

Zoetis; Virbac; Life Diagnostics; ACUVET BIOTECH; Merck & Co., Inc.; IDEXX Laboratories, Inc.; MI:RNA Diagnostics Ltd.; Mercodia AB; Antech Diagnostics, Inc.; Avacta Animal Health Limited

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional, and segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Veterinary Biomarkers Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and analyzes the latest industry trends in each sub-segments from 2017 to 2030. For the purpose of this report, Grand View Research has segmented the global veterinary biomarkers market report based on animal type, product type, application, disease type, and region:

Global Veterinary Biomarkers Market Segmentation

  • Animal Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Companion Animals

      • Dogs

      • Cats

      • Others

    • Production Animals

      • Cows

      • Pigs

      • Others

  • Product Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Biomarkers, Kits & Reagents

    • Biomarker Readers

  • Application Outlook (Revenue, USD Million, 2017 - 2030)

    • Disease Diagnostics

    • Preclinical Research

    • Others

  • Disease Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Inflammatory & Infectious Diseases

    • Cardiovascular Diseases

    • Skeletal Muscle Diseases

    • Tumor

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • MEA

      • South Africa

      • Saudi Arabia

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