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Veterinary Immunodiagnostics Market Trends

Report ID: GMI6013
Published Date: Jun 2023
Report Format: PDF

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Veterinary Immunodiagnostics Market Trends

The high prevalence of animal diseases and increasing adoption of companion animals is expected to have a significant impact on the growth of the veterinary immunodiagnostic market. With the increase in the pet population and animal health expenditures, pet insurance is also set to increase, enhancing the growth of the market. Furthermore, according to the annual facts and figures published by FEDIAF, there has been immense growth in pet ownership in Europe. By 2020, about 88 million households owned at least one pet animal in Europe. The pet population is rapidly increasing, with an estimated 90 million.

With the increasing animal population, the prevalence of animal diseases is also increasing, leading to the need for early diagnosis and treatment of the diseases. The veterinary immunodiagnostic helps in diagnosis of a wide range of diseases and provides quick and precise analysis. This helps the veterinary practitioners to better understand the cause of diseases and can administer better treatment options to the animals.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for veterinary immunodiagnostics value was around USD 803.4 million in 2022 and will record more than 9.2% CAGR from 2023 to 2032.

The lateral flow assays segment accounted for the largest market share of 85% in 2022 owing to the simplicity of use, low cost, and faster results.

North America veterinary immunodiagnostics market will reach around USD 930.2 million by 2032 due to the high demand for pet insurance, the rapidly increasing number of companion animals, and the high consumption of dairy products and meat.

IDEXX Laboratories, Inc., bioMérieux SA, Zoetis Inc., Randox Laboratories Ltd., Neogen Corporation, Thermo Fisher Scientific Inc., QIAGEN N.V, Abaxis, Inc., Virbac, and Heska Corporation.