Veterinary Diagnostics Market share

The Global Veterinary Diagnostics Market reached USD 7.1 billion in 2022 and is projected to grow significantly, reaching USD 13.6 billion by 2031. The market is expected to exhibit a CAGR of 8.7% during the forecast period (2024-2031).

Veterinary diagnostics play a critical role in animal health by identifying health issues early, enabling timely diagnosis and treatment planning. Traditional diagnostic methods involve analyzing blood, tissue, urine, or feces to detect proteins, antibodies, diseases, or overall health markers. Digital diagnostics enhance this process by leveraging technology's preventative capabilities, identifying wellness data trends that human specialists might miss, and facilitating early disease diagnosis. Advances in artificial intelligence and other cutting-edge technologies increase the potential to detect risk patterns in the growing volumes of data, paving the way for improved animal healthcare.

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Veterinary Diagnostics Market Dynamics
The growing number of pets adopted worldwide is significantly fueling the global veterinary diagnostics market dynamics. According to the ASPCA, approximately 6.3 million companion animals enter U.S. animal shelters each year. Of these, about 3.1 million are dogs and 3.4 million are cats. Approximately 4.1 million shelter animals are adopted annually, including 2 million dogs and 2.1 million cats. This surge in pet adoption is driving the demand for veterinary diagnostics as more pets require regular health check-ups, vaccinations, and treatments.

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Segmentations
By Product Type: Analyzers, Consumables
By Technology: Molecular Diagnostics, Immunodiagnostics, Clinical Biochemistry, Hematology,
By Animal Type: LiveStock, Companion
By Application: Infectious Disease, Autoimmune Disorder, Endocrinology & Oncology, Bone and Mineral Diseases, Others
By End User :Reference Laboratories, Veterinary Hospitals & Clinics, Point of care/ In-house testing


KEY Players
Zoetis
Thermo Fisher Scientific
Covetous, Inc
PetDx
HORIBA UK Limited
Ringbio
Virbac
IDVet
Abaxis
Heska Corporation
Others

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