Veterinary Diagnostics Market Size Share, Growth By Top Company, Region, Applications, Drivers, Trends & Forecast 2022-2031

Market Overview:
Global Veterinary Diagnostics Market is valued approximately at USD 2.6 billion and is anticipated to grow with a healthy growth rate of more than 8.80% over the forecast period. Veterinary diagnostics are tests used in determining and detecting various disorders associated with animals. The diagnostic tests are performed by taking the blood, feces and tissue samples of animals. Increasing prevalence of animal diseases is expected to be one of the major drivers for the growth of veterinary diagnostic market In addition, owing to concerns of animal welfare for the prevention of infection from animals to human and the growing demand for food safety also expected to drive the market growth of veterinary diagnostics over the forecast period. Further, growing prevalence of animal derived food products, rising demand for pet insurance coupled with growing animal health expenditure are key driving forces of market growth. According to the American Veterinary Medical Foundation, spending on the veterinary care by the Unites states pet owners increased by 7% between 2016 and 2017 that is from $15.95 billion to 17.07 billion. As per Organization for Economic Cooperation & Development, world poultry meat consumption in 2010 was about 12.822 kg/capita that increased to 13.860 kg/capita in 2017. the per capita consumption of meat is expected to reach 45.3 kg/year in 2030. In addition, untapped emerging market is expected to create significant growth opportunity in the market over the forecast period. However, increasing pet care cost impedes the growth of the market over the forecast period.

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The regional analysis of global Veterinary Diagnostics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to growing demand for animal derived food products coupled with growing number of veterinary practices in the U.S. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period. Factors such as large pool of livestock animals and growing awareness about animal health would create lucrative growth prospects for the Veterinary Diagnostics market across Asia-Pacific region.

Major market player included in this report are:
Idexx Laboratories
Abaxis, Inc.
Zoetis, Inc.
Qiagen N.V.
Thermo Fisher Scientific
Neogen Corporation
Heska Corporation
Virbac
Biomérieux SA
Idvet

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. 

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