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

Veterinary Diagnostics Market Size, Share & Trends Analysis Report By End-use (Reference Laboratories, Veterinarians), By Animal Type (Production, Companion), By Testing Category (Hematology, Imaging), By Product, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-3-68038-130-6
  • Number of Pages: 150
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2022
  • Industry: Healthcare

Veterinary Diagnostics Market Size & Trends

The global veterinary diagnostics market size was estimated at USD 9.29 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 10.02s% from 2024 to 2030. Some of the key factors driving the market growth include increased expenditure on animal health, rising incidence of diseases in animals, advancements in diagnostics, and increasing medicalization rate. In November 2023, IDEXX announced the launch of- SNAP Leish 4Dx Test in Europe and Asia for screening vector-borne diseases, such as canine leishmaniosis. This expanded the company’s portfolio. Continuous advancements in veterinary diagnostic technologies, including molecular diagnostics, imaging modalities, and PoC testing, have significantly expanded the capabilities of diagnosing diseases in animals.

U.S. Veterinary Diagnostics market size and growth rate, 2024 - 2030

These innovations not only enhance the accuracy and speed of diagnostics but also contribute to the overall industry growth as veterinarians and pet owners seek state-of-the-art solutions for comprehensive healthcare.The development and adoption of PoC diagnostic tools that provide rapid and on-site results have become a significant driver. These tools allow for quick decision-making in veterinary practices, enabling timely and efficient treatment, which is crucial for the health outcomes of animals. A rise in the prevalence of infectious diseases among animals, including zoonotic diseases, has emphasized the need for accurate and timely diagnostics.

Veterinary diagnostic products play a crucial role in identifying and managing diseases, enabling prompt treatment, and preventing the spread of infections.As with humans, animals are susceptible to chronic and age-related conditions. The growing aging pet population, coupled with an increased focus on preventive healthcare, drives the demand for diagnostics that can aid in the early detection and management of conditions, such as arthritis, diabetes, and cancer. The growing incidence of infectious animal ailments as well as chronic diseases is expected to fuel the demand for veterinary diagnostics.

Market Concentration & Characteristics

The market exhibits several key characteristics that influence its dynamics, growth, and overall structure. These market characteristics are shaped by factors, such as technological advancements, regulatory environment, animal health trends, and the evolving needs of veterinarians and pet owners. The market is characterized by a high degree of innovation. Companies are investing in R&D to introduce novel diagnostic technologies and improve existing ones. Innovations, such as portable diagnostic devices, integration with information technology, and the development of more accurate and rapid diagnostic assays contribute to the dynamic nature of the market.

Veterinary Diagnostics Market Concentration & Characteristics

Ongoing research in veterinary medicine has led to the identification of new biomarkers for various diseases in animals. These biomarkers play a crucial role in enhancing the sensitivity and specificity of diagnostic tests, allowing for early detection and precise characterization of health conditions in animals.Moreover, the integration of artificial intelligence (AI) and machine learning (ML) in veterinary diagnostics is becoming more prevalent. These technologies assist in data analysis, pattern recognition, and predictive modeling, leading to improved diagnostic accuracy and efficiency.

The market is also witnessing a notable level of merger and acquisition (M&A) activities. Established companies engage in strategic partnerships or acquire smaller firms to expand their product portfolios, access new technologies, and strengthen their market presence. This trend aims to create synergies, streamline operations, and capitalize on complementary strengths. In August 2023, for instance, Synlab- a German diagnostics company specializing in both human and animal health-agreed to sell its animal health diagnostics business to Mars Inc. This enabled Synlab to focus on its core competencies while SYNLAB VET is expected to thrive as part of Mars.

The market features a range of diagnostic modalities and tools, offering veterinarians and pet owners multiple options for disease detection and monitoring. For example, traditional methods, such as physical examinations and basic laboratory tests, may serve as substitutes for more advanced diagnostic technologies in certain cases.In certain scenarios, point-of-care testing (POCT) devices can serve as substitutes for traditional laboratory-based diagnostics. POCT allows for rapid on-site testing, reducing the need for sending samples to centralized laboratories.

Companies in this market often engage in regional expansion strategies to broaden their market presence. This involves entering new geographic markets to tap into emerging opportunities, reach a larger customer base, and address the specific needs of diverse regions.Adapting products and strategies to suit regional preferences, regulatory environments, and specific healthcare needs is crucial for successful regional expansion. This may involve customizing diagnostic products to meet the unique requirements and characteristics of different markets.

Testing Category Insights

The clinical chemistry segment dominated the market in 2023 with a share of 23.44%. The segment comprises tests that facilitate the study of the chemical composition of a sample and organ function tests. These tests can help identify specific disorders, such as pancreatitis or diabetes, and may also be used to monitor how the animal is responding to treatment. The wide availability and adoption of these tests contribute to the segment’s high share.

The cytopathology segment is anticipated to grow at the fastest CAGR of 13.95% from 2024 to 2030. The segment includes the study of cells from body fluids or tissues to determine a diagnosis. In January 2020, IDEXX launched digital cytology services powered by its proprietary VetConnect PLUS software and a new in-clinic instrument. This enables veterinarians to digitally connect with a worldwide network of over 100 veterinary pathologists to receive cytology interpretations within 2 hours. Similar initiatives by key players are expected to fuel segment's growth.

Animal Type Insights

By animal type, the companion animals segment held the highest market share in 2023. The dogs segment held the largest share while other companion animals segment is projected to grow at the fastest rate from 2024 to 2030. The uptake of pet insurance and growing pet population, expenditure on pets, pet humanization, & medicalization rate are some of the key factors driving the segment growth. As per the NAPHIA, about 5.4 million companion animals had insurance in 2022 across the U.S. and Canada. This represented about 22% increase from 4.4 million pets insured in 2021.

The production animals segment is expected to register the fastest CAGR from 2024 to 2030. Growing R&D activities and awareness among end-users are expected to propel the segment growth. For example, in October 2022, Kansas State Veterinary Diagnostic Laboratory,developed a new polymerase chain reaction (PCR)-based test for 2 key blood-borne diseases- namely anaplasmosis and Theileriosis in cattle. The high population of livestock animals, such as cattle, pigs, and poultry, is expected to contribute to the increasing demand for diagnostic solutions for effective disease prevention and management.

Product Insights

The consumables, reagents & kits segment accounted for the highest market share in 2023. Consumables, reagents, and kits are fundamental components necessary for conducting a wide array of diagnostic tests in veterinary medicine. These products are used in laboratories, veterinary clinics, and point-of-care settings for various diagnostic procedures, including blood tests, urinalysis, and immunoassays. The segment covers a broad spectrum of diagnostic applications. The versatility and diversity of consumables and reagents make them indispensable across various diagnostic scenarios.

Equipment & Instruments segment is projected to grow the fastest in the near future. This is owing to technological advancements in diagnostic equipment, increasing adoption of POCT devices, demand for imaging equipment, and investment in veterinary healthcare. In January 2023, for example, Esaote launched the Magnifico Vet MRI system for veterinary hospitals in North America.Diagnostic imaging plays a crucial role in veterinary medicine for visualizing internal structures and identifying various conditions. The demand for advanced imaging equipment, such as digital radiography, ultrasound machines, MRI and CT, is thus anticipated to increase over time.

End-use Insights

The veterinarians segment held the highest share in 2023 as veterinarians play a central role in the diagnosis, treatment, and overall healthcare of animals.Veterinary professionals utilize a comprehensive range of diagnostic tools and services, including imaging equipment, laboratory tests, and point-of-care diagnostic devices.The segment's dominance is driven by the reliance of animal owners on veterinarians for expert guidance and the comprehensive nature of the diagnostic services they offer.

Global Veterinary Diagnostics market share and size, 2023

The animal owners/producers segment is estimated to grow at the fastest CAGR from 2024 to 2030. This is due to the rising popularity of POCT devices that allow on-site diagnostic testing. These devices enable quick and convenient testing at home or on farm without the need to visit a veterinary clinic, making them feasible for animal owners.In the case of livestock owners and producers, diagnostic tools are crucial for managing herd health, optimizing production, and ensuring the safety of food products. The integration of diagnostics into on-farm practices enhances decision-making and contributes to overall farm management.

Regional Insights

North America held the largest market share of 38.6% in 2023. This is owing to established veterinary healthcare infrastructure, advanced technology adoption, high disposable income, and presence of key companies, such as Mars, IDEXX, and Zoetis. Strategic initiatives undertaken by these companies are expected to continue fueling regional market growth. In April 2022, Zoetis improved upon its Vetscan Imagyst platform by adding AI blood smear testing for dogs and cats.

Veterinary Diagnostics Market Trends, by Region, 2024 - 2030

Asia Pacific, on the other hand, is projected to grow at the fastest CAGR of 12.0% from 2024 to 2030. Many countries in this region, particularly in Southeast Asia, represent emerging markets with significant untapped potential. The increasing focus on animal health, coupled with economic development, presents opportunities for veterinary diagnostic companies to expand their market presence. As urban areas grow and lifestyles evolve, there is an increasing inclination toward treating pets as family members, driving demand for advanced diagnostics.

Key Veterinary Diagnostics Company Insights:

The market is characterized by the presence of several, large, medium, and small companies. Some of the key players operating in the market include IDEXX Laboratories, Inc.; Zoetis; Antech Diagnostics, Inc. (Mars Inc.); and Agrolabo S.p.A. Market players often engage in collaborations and partnerships with veterinary clinics, research institutions, and academic organizations. These collaborations aim to enhance R&D efforts, share knowledge, and expand the reach of diagnostic products in the veterinary healthcare ecosystem. Companies are also increasingly expanding their geographical presence to tap into emerging markets and capitalize on the growing awareness about veterinary diagnostics. Globalization allows companies to reach a wider customer base and address the diverse needs of veterinarians and pet owners worldwide. Furthermore, the market has experienced some consolidation as larger companies aim to achieve economies of scale, gain a competitive edge, and establish a more comprehensive presence in the global market.

Key Veterinary Diagnostics Companies:

The following are the leading companies in the veterinary diagnostics market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these veterinary diagnostics companies are analyzed to map the supply network.

  • IDEXX Laboratories, Inc.
  • Zoetis
  • Antech Diagnostics, Inc. (Mars Inc.)
  • Agrolabo S.p.A.
  • Embark Veterinary, Inc.
  • Esaote SPA
  • Thermo Fisher Scientific, Inc.
  • Innovative Diagnostics SAS
  • Virbac
  • FUJIFILM Corporation

Recent Developments

  • In June 2023,Mars, Inc. completed the acquisition of Heska by merging it into its Petcare Science & Diagnostics division. This expanded its portfolio

  • In June 2023, IDEXX launched the first test for detecting kidney injury in cats and dogs called the IDEXX Cystatin B Test

  • In December 2021, PetDx- specializing in liquid biopsy for pets, raised about USD 62 million in series B funding. This enabled the company to expand the implementation of its liquid biopsy test for cancer detection in dogs called OncoK9 and to increase testing at its central laboratory in San Diego

Veterinary Diagnostics Market Report Scope

Report Attribute


Market size value in 2024

USD 10.2 billion

Revenue forecast in 2030

USD 18.1 billion

Growth rate

CAGR of 10.02% from 2024 to 2030

Base year for estimation


Historical data

2018 - 2022

Forecast period

2024 - 2030

Report updated

January 2024

Quantitative units

Revenue in USD million/billion and CAGR from 2024 to 2030

Report coverage

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

Segments covered

Product, testing category, animal type, and end use

Regional scope

North America, Europe, Asia Pacific, Latin America, MEA

Country scope

U.S.; Canada; UK; Germany; France; Italy; Spain; Denmark; Sweden; The Netherlands; Japan; China; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait

Key companies profiled

IDEXX Laboratories, Inc.; Zoetis; Antech Diagnostics, Inc. (Mars Inc.); Agrolabo S.p.A.; Embark Veterinary, Inc.; Esaote SPA; Thermo Fisher Scientific, Inc.; Innovative Diagnostics SAS; Virbac; FUJIFILM Corp.

Customization scope

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

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Global Veterinary Diagnostics Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global veterinary diagnostics market report based on product, animal type, testing category, end-use, and region:

  • Product Outlook (Revenue, USD Million, 2018 - 2030)

    • Consumables, Reagents & Kits

    • Equipment & Instruments

  • Testing Category Outlook (Revenue, USD Million, 2018 - 2030)

    • Clinical Chemistry

    • Microbiology

    • Parasitology

    • Histopathology

    • Cytopathology

    • Hematology

    • Immunology & Serology

    • Imaging

    • Molecular Diagnostics

    • Other Categories

  • Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

    • Production Animals

      • Cattle

      • Poultry

      • Swine

      • Other Production Animals

    • Companion Animals

      • Dogs

      • Cats

      • Horses

      • Other Companion Animals

  • End Use Outlook (Revenue, USD Million, 2018 - 2030)

    • Reference Laboratories

    • Veterinarians

    • Animal Owners/ Producers

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

      • Denmark

      • Netherlands

      • Sweden

      • Rest of Europe

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

      • Australia

      • Thailand

      • Rest of Asia Pacific

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Rest of Latin America

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • Kuwait

      • UAE

      • Rest of MEA

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