by The global veterinary diagnostic services market was estimated at USD 11.61 billion in 2022 and it is expected to surpass around USD 24.56 billion by 2032, poised to grow at a CAGR of 7.78% from 2023 to 2032. The veterinary diagnostic services market in the United States was accounted for USD 4.3 billion in 2022.
Key Pointers
- North America held the largest revenue share of more than 39% in 2022.
- the Asia Pacific region is expected to grow at the fastest CAGR of 10.04% from 2023 to 2032.
- By Test Type, the in vitro diagnosis segment dominated the market with a revenue share of 87% in 2022.
- By Test Type, the in vivo diagnosis segment is projected to grow at the fastest CAGR of 8.43% during the forecast period.
- By Animal Type, the companion animals segment led the market with the highest revenue share of 60% in 2022.
- By Animal Type, the production animals segment is expected to grow at the fastest CAGR of 8.28% during the forecast period.
- By Testing Category, the clinical chemistry segment held the largest market share of 24% in 2022.
- By Testing Category, the cytopathology segment is estimated to witness the fastest CAGR of 11.05% during the forecast period.
- By Type, the point-of-care (POC) segment contributed the largest market share of 58% in 2022.
- By Type, the laboratory-based segment expected to expand at the highest CAGR of 8.06% during the forecast period.
The veterinary diagnostic services market is a vital component of the global healthcare system for animals, encompassing a wide range of diagnostic procedures and services designed to ensure the well-being of companion animals, livestock, and other species. These services play a pivotal role in identifying, monitoring, and managing various health conditions in animals, contributing to the overall health and productivity of animal populations.
Market Growth
The growth of the veterinary diagnostic services market is propelled by several key factors. Firstly, the increasing prevalence of animal diseases underscores the essential role of diagnostic services in effective disease management and prevention. Technological advancements in diagnostic tools, including digital imaging, automation, and artificial intelligence, contribute significantly to enhancing the accuracy and efficiency of veterinary diagnostics. Moreover, the growing number of pets and the intensification of commercial animal farming drive the demand for these services, as pet owners and livestock producers prioritize the health and well-being of their animals.
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Report Scope of the Veterinary Diagnostic Services Market
| Report Coverage | Details |
| Market Revenue by 2032 | USD 24.56 billion |
| Growth Rate from 2023 to 2032 | CAGR of 7.78% |
| Revenue Share of North America in 2022 | 39% |
| CAGR of Asia Pacific from 2023 to 2032 | 10.04% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
Market Dynamics
Drivers
Increasing Incidence of Animal Diseases:
The rising prevalence of various animal diseases is a primary driver, necessitating accurate and timely diagnostic services for effective disease management.
Growing Awareness of Animal Health:
A heightened awareness among pet owners and livestock producers regarding the importance of preventive healthcare and early disease detection fuels the demand for veterinary diagnostic services.
Restraints
Shortage of Skilled Professionals:
A shortage of skilled professionals proficient in advanced veterinary diagnostic techniques may pose a restraint, impacting the effective implementation of these services in certain areas.
Reliance on Conventional Diagnostic Methods:
The continued reliance on traditional and less advanced diagnostic methods in some veterinary practices may impede the adoption of more sophisticated technologies, hindering market growth.
Opportunities
Advancements in Telemedicine:
The integration of telemedicine in veterinary diagnostics opens opportunities for remote consultations and diagnostics, enhancing accessibility for pet owners and farmers in distant or underserved areas.
Expansion of Point-of-Care Testing:
Continued advancements in point-of-care testing technologies offer opportunities for rapid, on-site diagnostics, enabling timely decision-making and reducing the need for extensive laboratory infrastructure.
Test Type Insights
In terms of test type, the in vitro diagnosis segment dominated the market with a revenue share of 87% in 2022. Veterinary in vitro diagnosis (IVD) services are used to diagnose several animal diseases and monitor the health status of animals & therapeutic procedures by analyzing samples, such as blood, tissue, urine, feces, and other biological fluids. IVD services use various methods, including sequencing technology, polymerase chain reaction, mass spectrometry, and microarray techniques, to test the sample preparation.
The in vivo diagnosis segment is projected to grow at the fastest CAGR of 8.43% during the forecast period. In vivo diagnostics services mainly consist of imaging technologies. Customer needs for veterinary in vivo diagnostics services have increased due to recent advancements in veterinary imaging. Demand has increased particularly for dual imaging technologies (PET/CT, PET/MR, and SPECT/CT), cross-sectional methods (MRI and CT imaging), and nuclear medicine techniques (PET and SPECT).
Animal Type Insights
Based on animal type, the companion animals segment led the market with the highest revenue share of 60% in 2022. This can be attributed to increasing pet adoption during the COVID-19 pandemic and growing awareness about early disease diagnosis & health management. The adoption of companion animals, particularly dogs, is sharply rising in the U.S. According to the American Pet Products Association’s National Pet Owners Survey 2021-2022, in the U.S., 69 million households (or approximately 54%) owned dogs, up from 50% of homes registered in 2018.
The production animals segment is expected to grow at the fastest CAGR of 8.28% during the forecast period, primarily owing to rising livestock productivity. Cattle, pigs, chickens, and other livestock are considered production animals. Rising zoonotic disease occurrence and a high livestock population are the main drivers of the production animal diagnostic services market.
Testing Category Insights
In terms of the testing category, the clinical chemistry segment held the largest market share of 24% in 2022. The increasing volume of veterinary analytical services is the main factor driving the demand for diagnostic services for clinical pathological applications. Clinical chemistry examinations are crucial for determining the function of various animal organs, such as the liver, kidneys, and other organs. They can aid in diagnosing diseases like pancreatitis or diabetes in animals. The effectiveness of a pet’s treatment can also be tracked using these tests.
The cytopathology segment is estimated to witness the fastest CAGR of 11.05% during the forecast period. Cytopathology testing services can help identify cancerous cells or determine if a tumor is benign or malignant. It can also detect infectious microorganisms and others, such as yeast, with a unique appearance. The growing incidences of cancer in companion animals and the increased use of cytopathological cancer diagnosis services are expected to boost the segment share during the forecast period.
Sector Insights
In terms of sector, the private sector held the largest market share in 2022 and is anticipated to grow at the fastest CAGR of nearly 7.93% over the forecast period. The private sector includes corporate reference laboratories and privately owned clinics/hospital-based laboratories. Private laboratories often focus solely on veterinary diagnostics, allowing them to develop specialized expertise.
Furthermore, rather than investing in costly equipment and personnel training, veterinary clinics & hospitals may find it more cost-effective to outsource certain diagnostic procedures to private laboratories. Private laboratories can conduct these tests on a large scale, distributing the expenses among numerous customers and making their services cheaper for individual veterinary practices. These factors drive market growth.
Type Insights
In terms of type, the point-of-care (POC) segment contributed the largest market share of 58% in 2022. The segment focuses on testing services offered at the POC, such as a farm, veterinary establishment, or home. Results are delivered within minutes or a few hours (much faster than sending out lab results), allowing veterinarians to provide efficient diagnoses and decide future steps (such as additional testing or treatment) within the same appointment. Overall, POC diagnostics in veterinary medicine transformed how veterinarians approach diagnosis and treatment, resulting in better patient outcomes and growing demand for such testing solutions in the market.
The laboratory-based segment expected to expand at the highest CAGR of 8.06% during the forecast period. The laboratories are owned and operated by companies or public entities. Veterinary laboratories provide a comprehensive range of diagnostic tests and services to diagnose and monitor various animal diseases & disorders.
Regional Insights
In terms of region, North America held the largest revenue share of more than 39% in 2022. North America has seen a rise in pet ownership, with many households considering pets as family. This growing pet population has increased the demand for veterinary diagnostics services to ensure the health and well-being of these animals. In addition, pet owners are willing to spend more on their pets’ healthcare, including diagnostics, surgery, and other medical services. The rise in veterinary healthcare expenditure has contributed to the growth of the market. Moreover, the presence of veterinary diagnostics laboratories in the region contributes to market growth.
On the other hand, the Asia Pacific region is expected to grow at the fastest CAGR of 10.04% from 2023 to 2032. Major reasons anticipated to propel the regional market growth are the rise in middle-class families, increasing disposable income, adopting companion animals, and the growing demand for animal proteins. Countries such as China & India are anticipated to have strong growth potential with the number of industrial facilities in the region increasing.
Key Companies
- Zoetis Services LLC
- Antech Diagnostics, Inc. (Mars, Inc.)
- IDEXX
- Neogen Corporation
- The Animal Medical Center
- Embark Veterinary, Inc.
- SYNLAB
- NationWide Laboratories
- Ellie Diagnostics
- VETERINARY HEALTHCARE COMPANY (VETHC).
Veterinary Diagnostic Services Market Report Segmentations:
By Test Type
- In Vitro Diagnosis
- In Vivo Diagnosis
By Animal Type
- Companion Animals
- Dogs
- Cats
- Horses
- Others
- Production Animals
- Cattle
- Poultry
- Swine
- Others
By Testing Category
- Clinical Chemistry
- Microbiology
- Parasitology
- Histopathology
- Cytopathology
- Hematology
- Immunology & Serology
- Imaging
- Molecular Diagnostics
- Other Categories
By Sector
- Public
- Private
By Type
- Point-of-Care (POC)
- Laboratory-base
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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