Animal Diagnostics Market: Top 6 trends driving the global industry revenue till 2025

Animal diagnostics are essential tools for assuring the health status of animals and identifying infections and pathogens. They play a crucial role in the early detection, administration, and control of animal diseases. Diagnosis of animal diseases also becomes necessary in controlling zoonosis that causes epidemics such as bird flu, avian flu, AIDS, SARS, swine flu, Ebola, MERS, zika, and COVID-19.

Growing threats of animal-caused pandemics, and a surging number of animal conditions such as cattle tick, tick flu, coccidiosis, avian influenza, including others, will positively influence the use of animal treatment and testing products. According to a Global Market Insights, Inc., analysis report, global animal diagnostics market size will cross over US$5.5 billion by 2025. Described below are some notable trends fostering preference for animal diagnosis.

Scientific advancements in animal diagnostic tools

Scientific advancements and innovations in molecular biology have brought new dimensions in animal diagnostic tools. For example, the polymerase chain reaction (PCR) test, which is based on genome sequencing technology to characterize pathogens, is used for disease diagnosis, biological research, and parasite control.

Isothermal technology is another novel diagnostic tool that minimizes the size, cost, and complexity of point-of-care testing methods. Such developments in the field of molecular biology have encouraged many industry players to introduce efficient and cost-effective pet diagnostic solutions.

High prevalence of pet ownership

An increasing trend of pet ownership across the globe will augment the demand for conducting animal diagnosis regularly for assuring pet health. According to the National Pet Owners Survey, approximately 85 million families in the U.S. own a pet. Owing to the significant rise in disposable income of people residing in developed countries, spending on pets and pet products has increased considerably in the recent past. Reportedly, expenses on pets in the U.S. account for about US$50 billion annually.

Robust demand for veterinary care

The clinical biochemistry segment of the animal diagnostics market accounted for US$1 billion in 2018 with regard to annual value. Factors like initiatives to preserve endangered animal species and the significant demand for value-based veterinary care were attributed to such lucrative growth. The incorporation of sophisticated techniques in clinical laboratories and the escalating demand for novel veterinary care products will help in deriving a robust pet diagnostic test.

To access sample pages of this report titled, “Animal Diagnostics Market Size By Technology (Immunodiagnostics {ELISA, Lateral Flow Assays, Immunoassay Analyzers}, Clinical Biochemistry, Hematology, Molecular Diagnostics {PCR, Microarrays}, Urinalysis), By Animal Type (Farm Animals {Poultry, Swine, Cattle}, Companion Animals {Dogs, Cats, Horses}), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:

High adoption of companion animals

The companion animal segment accounted for a considerable animal diagnostics market share in 2018 and is estimated to grow at over 7.5% CAGR in the forthcoming years. High preference for veterinary care and the rising trend of adopting pets for companionship will enhance the overall industry share from the companion animal segment. The presence of a wide range of animal diagnostic tools for the detection of diseases in pets and favorable pet health insurance programs would insure better veterinary treatment for companion animals.

Veterinary diagnostics in the U.S.

U.S. animal diagnostics market was valued at US$1.6 billion in 2018. Such remunerative growth in the regional industry is majorly attributed to the scientific advancements in veterinary diagnostics and the high adoption of advanced molecular techniques across laboratories. A rising number of initiatives by the government to expand the animal healthcare infrastructure and control measures related to animal disorders will complement regional business expansion.

Animal welfare organizations emerging economies

India animal diagnostics market will witness a growth of 12.4% in the coming years. The existence of animal welfare organizations in the region such as the Tata Trust and People for Animals spreading awareness about animal healthcare will influence the growth of the regional industry. Notably, in India, the Tata Trust had joined hands with the People for Animals in 2017 and announced to introduce the state-of-art veterinary hospital in Mumbai to cater to the growing needs of affordable farm and domestic animals.

Leading firms offering animal diagnostics solutions globally include Qiagen, Thermo Fisher Scientific, Heska Corporation, Neogen, Virbac, Randox, Zoetis, Abaxis, and IDEXX Laboratories. These industry players are focusing on strategies such as joint mergers, ventures, acquisitions, and geographic expansion to strengthen their presence.

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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