Veterinary Point Of Care Diagnostics Market Size, Share & Trends Analysis Report By Animal Type (Companion, Livestock), By Sample Type, By Product, By Testing Category, By Indication, By End-use, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global veterinary point of care diagnostics market size was valued at USD 1.27 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 10.6% from 2022 to 2030. The key factors include the increasing companion animal population, incidence of animal diseases, expenditure on animal care, and developments in veterinary molecular diagnostics. For instance, in August 2020, IDEXX Laboratories launched ProCyte One Hematology Analyzer. ProCyte One Hematology Analyzer offers a complete blood count in-house. Technological developments in veterinary molecular diagnostics will push the demand for advanced veterinary molecular diagnostics, over the forecast period.

The COVID-19 pandemic has significantly impacted the global population as well as industries and sectors across all domains. It has compelled the healthcare industry to develop both therapeutic and preventive interventions to manage the situation. Countries, governments, and businesses implemented strategies and responded accordingly, to address the situation at hand.

In many countries, the impact of COVID-19 was amplified by the presence of other diseases, such as the African swine fever in Europe, and wildfires in the western U.S. The pandemic has had a wide-ranging impact on each aspect of life, including the veterinary sector, which has led to a balancing act to preserve animal welfare while safeguarding the health of the public. The market was impacted on multiple fronts such as supply chain disruptions, low demand, and operational hurdles due to changing policies & restrictions.

The market registered a slowdown in sales, reduced demand, and logistical challenges for a few months due to the COVID-19 pandemic. Vet clinics & hospitals across various key regions registered low patient volume whereas some directed resources to focus only on emergency cases. Furthermore, the market growth has been improvised after some time. Veterinary care though continued to be provided to animal owners as it was widely recognized as an "essential" service. The mandate gradually recovered during the second and third quarters of 2021, as governments began to ease the stay-at-home policies.

According to Heska Corp, on-site installations of POC Lab and Imaging equipment also experienced occasional delays due to social distancing efforts. In 2021, the company also experienced sporadic supply delays and an increase in transportation prices. With intermittent delays in getting device components and validation samples, its major R&D program continued to run as expected. The pandemic also brought about inefficiencies in distant collaboration and field testing.

The market is expected to expand significantly in the next years, owing to rising demand for simple and quick point-of-care diagnostic tools and relatively lax regulatory oversight. The FDA in the United States does not require makers of veterinary gadgets to list their products or register their businesses. The FDA's pre-market approval (PMA) or notification [510(k)] procedure does not apply to devices intended to diagnose, treat, mitigate, or prevent diseases in animals. This presents new market candidates with opportunities. The FDA does not require pre-market approval for the sale of IDEXX's veterinary diagnostic slide and instrument systems, according to the company, which is a market leader in point of care diagnostics. The FDA also exempts the corporation from current GMP requirements.

Testing kits are used for identifying transferrable diseases. These kits are licensed and regulated by the Center for Veterinary Biologics of the U.S. Department of Agriculture and Animal and Plant Health Inspection Service. The drivers for the development of novel tests, however, vary with the particular application. The applications are projected to expand to diseases now undiagnosed or only diagnosed in reference laboratories.

The animal health business, particularly the vet point of care diagnostics market, has been impacted by the global trend of digitization in healthcare. Key players are investing in product development to improve testing accuracy, validate devices, broaden test menus, and automate as much of the process as feasible, lowering the complexity of operating the device. Infectious disease point-of-care testing is also a high-value target, especially if the disease affects livestock or pets, or if it is transmissible from animals to humans.

Sample Type Insights

In 2021, the blood/plasma/serum segment accounted for over 38% of the market by sample type. Regular blood testing is advised as a critical aspect of a companion animal's overall wellness regimen, according to the Kirkwood Animal Hospital in the United States. Blood testing is also less expensive and less invasive than medical treatment.

The urine segment, on the other hand, is expected to grow the fastest. It provides insight into the occurrence, length, and extent of urinary tract diseases. Furthermore, it also provides information about physical health, fluid balance, systemic illness, physiological condition, and harmful insults, and is the best way to diagnose kidney dysfunction before renal failure happens.

Product Insights

Consumables, Reagents, & Kits accounted for the largest share of the market in 2021, estimated to be more than 55%. This is owing to large product availability, subscription-based or repetitive payments sales model for reagents and consumables, and other advantages by key companies. More than 90% of Heska Corporation’s point of care consumables, for instance, are on long-term subscriptions. The total subscriptions were 2,376 in 2019 and this number increased to 2,980 in 2021. The company reported a subscriber retention rate of over 95%.

The instruments & devices segment is projected to grow the fastest at a rate of about 10.2% in the coming years, owing to growing product enhancements and demand for these products. Growing demand for animal-derived food is anticipated to increase the requirement for immunodiagnostic tests for animals over the forecast period. Clinical chemistry and immunodiagnostic kits are major products used in veterinary diagnostics. This is because of the increase in demand for detecting general health profiles of animals.

Testing Category Insights

By testing category, the market is divided into diagnostic imaging, parasitology, bacteriology, virology, cytology, hematology, serology, clinical chemistry, and others. Parasitology dominated the market with a share of over 17% in 2021, while the hematology segment is estimated to grow the fastest at a CAGR of about 12%.

Zoetis introduced Imagyst in 2021 to help veterinarians make quick and accurate diagnoses at the point of care by automating the fecal examination for endoparasitic eggs, cysts, and oocysts. The product gives veterinarians the ability to share results with pet parents and offer treatment options during the initial visit in less than 9 minutes. This ultimately removes the need for a second appointment. As per the World Small Animal Veterinary Association, veterinarians are increasingly adopting simple kits, including SNAP tests for infectious diseases (such as tests for antibodies against parvovirus, FeLV, FIV, heartworm antigen tests, and tick-borne pathogens), and serum progesterone test kits, owing to their ease of use and rapidity of results. This is anticipated to drive the market growth during the forecast period.

Animal Type Insights

Companion Animals dominated the market by animal type, while livestock animals are expected to register growth. This dominance is due to an increase in the number of pets, spending, acceptance of pet insurance, and the necessity to ensure food sources by ensuring the health of livestock animals. For instance, as per data published by American Pet Products Association (APPA), in 2021-2022, 70% of American households owned a pet, which equates to 90.5 million homes. This booming population will push the demand for veterinary molecular diagnostics, over the forecast period.

The livestock animal market is expected to hold a significant share of the market over the forecast period. This can be attributed to increasing livestock productivity. Livestock animals comprise cattle, swine, poultry, and others. The major drivers of the livestock animal market include the rising incidence of zoonotic diseases and the large population of livestock. The increasing number of veterinary practitioners is a major driver fueling the growth of the market.

Indication Insights

About 40% of the global market by indication was held by the infectious disease segment. The general ailments segment, on the other hand, is estimated to grow at a high rate of 11.0% in the coming years. The key factors contributing to this growth include the growing prevalence of acute and chronic diseases in animals, product advancements, and pet humanization.

Diagnostic imaging methods, for instance, provide detailed information about the animal’s health by noninvasive or minimally means without causing any change in the disease process. Independent Vetcare Ltd.’s South Devon Veterinary Hospital in the U.K. for instance offers a full range of diagnostic endoscopy services using flexible and rigid endoscopes as well as video endoscopes. The hospital has invested in 4 different flexible video endoscopes to support high-quality visualization around the lungs, stomachs, mouths, and intestines of all sizes of patients.

End-use Insights

Over 50% of the market was held by veterinary hospitals & clinics in 2021. This is owing to a higher volume of patients received in these facilities, growing adoption of point of care devices by vet clinics, and wide diagnostic service offerings. Elm Point Animal Hospital in the U.S. has invested in in-house diagnostic products from IDEXX to offer rapid testing services such as blood chemistry profiles, thyroid testing, complete blood counts, and urinalysis.

The home care settings segment is expected to grow the highest at a rate of more than 11% from 2022 to 2030, due to rising product launches in this category and pet expenditure. AlphaTRAK by Zoetis for example, is a Blood Glucose Monitoring System for cats and dogs. The device uses a small blood sample size, provides data & insights through the PetDialog app, and can be used in home care settings.

Regional Insights

North America held over 50% share of the market in 2021. The significant share of the North American region can be attributed to the presence of key market players and advanced veterinary health care infrastructure in the U.S. and Canada. As per the Veterinary Practice News, there were a total of 28,000 to 32,000 veterinary practices in the U.S. in 2020.

Asia Pacific is estimated to grow at the fastest CAGR of over 13% during the forecast period. This is owing to the developing veterinary healthcare infrastructure, growing awareness about diagnostic options, the presence of local market players, and the increasing pet population. Furthermore, some of the key market players that have contributed significantly to the revenue generation in the Asia Pacific market are FUJIFILM Corporation, Neogen Corporation, Heska Corporation, Thermo Fisher Scientific, Inc., Zoetis, IDEXX Laboratories, Inc., and others.

Key Companies & Market Share Insights

The market is competitive in nature. However, a few major players hold a significant share of the market in key regions such as North America. Large and small companies both implement various strategic initiatives to grow their market share. These include product R&D, expansion, distribution partnerships, and mergers & acquisitions, among others. Heska Corp. acquired scil animal care company GmbH— in April 2021. This enabled Heska to jump to first or second positions in key markets and it expanded its reach to 25 countries. Some of the key players in the global veterinary point of care diagnostics market include:  

• IDEXX Laboratories

• Zoetis

• Virbac

• Heska Corporation

• Thermo Fisher Scientific, Inc.

• Neogen Corporation

• Mindray

• Esaote SpA

• FUJIFILM Corporation

• Woodley Equipment Company Ltd

Veterinary Point Of Care Diagnostics Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the regional & country level and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2017 to 2030. For this report, Grand View Research has segmented the global veterinary point of care diagnostics market based on animal type, product, sample type, testing category, indication, end-use, and region:

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

  • Companion Animals

    • Dogs

    • Cats

    • Horses

    • Others

  • Livestock Animals

    • Cattle

    • Swine

    • Poultry

    • Others

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

  • Consumables, Reagents, & Kits

  • Instruments & Devices

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

  • Blood/Plasma/Serum

  • Urine

  • Fecal

  • Others

• Testing Category Outlook (Revenue, USD Million, 2017 - 2030)

  • Hematology

  • Diagnostic Imaging

  • Bacteriology

  • Virology

  • Cytology

  • Clinical Chemistry

  • Parasitology

  • Serology

  • Others

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

  • Infectious Disease

  • General Ailments

  • Others

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Veterinary Hospitals & Clinics

  • Home Care Settings

  • 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

    • Israel