NEW YORK, June 15, 2023 /PRNewswire/ -- The global animal health diagnostics market size is estimated to increase by USD 1,956.81 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 9.63% during the forecast period. The increase in pet humanization is the major factor that drives the global animal health diagnostics market growth. The increasing humanization of pets by families is one of the primary factors that drive the global market. Humanization refers to the treatment of pets like members of the family and with millennials, the practice of keeping pets for functional purposes is decreasing. Rather than that, pets are increasingly adopted as members of urban families. For instance, today, most people do not expect their dogs to sleep outside the house and protect them. Hence, such factors drive the market growth during the forecast period. Discover some insights on the market size historic period (2017 to 2021) and Forecast 2023-2027 before buying the full report -Request a sample report

Animal health diagnostics market – Vendor Analysis

Vendor Landscape - The global animal health diagnostics market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer animal health diagnostics in the market are Bio Rad Laboratories Inc., Bio X Diagnostics SA, BioNote Inc., Eurofins Scientific SE, Eurolyser Diagnostics GmbH, FUJIFILM Corp., Heska Corp., Id Vet India Pvt. Ltd., IDEXX Laboratories Inc., INDICAL Bioscience GmbH, Neogen Corp., Randox Laboratories Ltd., Shenzhen Mindray BioMedical Electronics, SWISSAVANS AG, Teco Diagnostics, URIT Medical Electronic Co. Ltd., VCA Inc., Virbac Group, Zoetis Inc., and Thermo Fisher Scientific Inc. and others.

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Vendor Offerings -

• Bio Rad Laboratories Inc. - The company offers animal health diagnostics such as Antimicrobial Susceptibility Testing, Rabies Diagnosis Testing.

• Bio X Diagnostics SA - The company offers animal health diagnostics namely SmartStrips.

• BioNote Inc. - The company offers animal health diagnostics namely Vcheck F.

• For details on the vendor and their offerings – Request a sample report

Animal Health Diagnostics Market - Segmentation Assessment

Segment Overview

This market report extensively covers market segmentation by type (livestock and companion), end-user (veterinary hospitals, veterinary clinics, and diagnostic centers), and geography (North America, Europe, Asia, and Rest of World (ROW)).

• The market share growth by the livestock segment is estimated to be significant during the forecast period. In rural households, livestock serves as a source of income, food supply, asset saving, employment, and livelihood. It also helps in retaining soil fertility and maintaining agricultural traction. In addition, livestock helps with agricultural diversification along with sustainable agricultural production. Furthermore, the use of livestock and its sub-products is crucial for improving crop production. Livestock is also used for transporting agricultural inputs and outputs. Hence, such factors will drive the growth of this segment during the forecast period.

Geography Overview

By geography, the global animal health diagnostics market is segmented into North America, Europe, Asia, and Rest of World (ROW). The report provides actionable insights and estimates the contribution of all regions to the growth of the global animal health diagnostics market.

• North America is estimated to account for 58% of the market's growth during the forecast period. The growth of the market in the region can be attributed to factors such as the rising humanization of dogs and cats. Moreover, in countries such as the US, the population of millennials is increasing. The rise in the adoption of pets among millennials will further drive market growth in this region.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report

Animal Health Diagnostics Market – Market Dynamics

Key Trends - 

• The growing preference for health monitors is an emerging trend in the global animal health diagnostics market.

• To penetrate both the pet sector and the livestock industry by sourcing their innovations from startups, major animal health companies are creating opportunities for the technology.

• The IoT changes the way in which animal healthcare was approached previously.

• There is a rise in demand for health monitors and wearable activity, as well as video-enabled engagement and remote monitoring, in the pet sector.

• Hence, such trends influence the growth of the market during the forecast period.

Major challenges -

• The rising cost of animal healthcare is a primary challenge hindering the global animal health diagnostics market growth.

• There is a significant increase in the cost of routine and surgical vet visits.

• Also, there is a large percentage of pet owners in the US that are below the poverty line and cannot afford the high veterinarian costs.

• Advanced technology, increased preventive care, and liability concerns among doctors are some of the other reasons for the high costs.

• Hence, such challenges impede the market growth of veterinary diagnostics during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Animal Health Diagnostics Market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the animal health diagnostics market between 2023 and 2027

• Precise estimation of the size of the animal health diagnostics market and its contribution to the market with a focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the animal health diagnostics market across North America, Europe, Asia, and Rest of World (ROW)

• A thorough analysis of the market's competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of animal health diagnostics market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

• 4.1 Global animal health diagnostics market 2017 - 2021

• 4.2 Type Segment Analysis 2017 - 2021

• 4.3 End-user Segment Analysis 2017 - 2021

• 4.4 Geography Segment Analysis 2017 - 2021

• 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.2 Bargaining power of buyers

• 5.3 Bargaining power of suppliers

• 5.4 Threat of new entrants

• 5.5 Threat of substitutes

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by Type

• 6.1 Market segments

• 6.2 Comparison by Type

• 6.3 Livestock - Market size and forecast 2022-2027

• 6.4 Companion - Market size and forecast 2022-2027

• 6.5 Market opportunity by Type

7 Market Segmentation by End-user

• 7.1 Market segments

• 7.2 Comparison by End-user

• 7.3 Veterinary hospitals - Market size and forecast 2022-2027

• 7.4 Veterinary clinics - Market size and forecast 2022-2027

• 7.5 Diagnostic centers - Market size and forecast 2022-2027

• 7.6 Market opportunity by End-user

8 Customer Landscape

• 8.1 Customer landscape overview

9 Geographic Landscape

• 9.1 Geographic segmentation

• 9.2 Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027

• 9.4 Europe - Market size and forecast 2022-2027

• 9.5 Asia - Market size and forecast 2022-2027

• 9.6 Rest of World (ROW) - Market size and forecast 2022-2027

• 9.7 US - Market size and forecast 2022-2027

• 9.8 UK - Market size and forecast 2022-2027

• 9.9 Germany - Market size and forecast 2022-2027

• 9.10 China - Market size and forecast 2022-2027

• 9.11 Canada - Market size and forecast 2022-2027

• 9.12 Market opportunity by geography

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.3 Landscape disruption

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.2 Market positioning of vendors

• 12.3 Bio Rad Laboratories Inc.

• 12.4 Bio X Diagnostics SA

• 12.5 BioNote Inc.

• 12.6 Eurofins Scientific SE

• 12.7 Eurolyser Diagnostics GmbH

• 12.8 FUJIFILM Corp.

• 12.9 Heska Corp.

• 12.10 Id Vet India Pvt. Ltd.

• 12.11 IDEXX Laboratories Inc.

• 12.12 Randox Laboratories Ltd.

• 12.13 SWISSAVANS AG

• 12.14 Teco Diagnostics

• 12.15 Thermo Fisher Scientific Inc.

• 12.16 Virbac Group

• 12.17 Zoetis Inc.

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist

• 13.3 Currency conversion rates for US$

• 13.4 Research methodology

• 13.5 List of abbreviations

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