Veterinary Infectious Disease Diagnostics Market

Market Overview

The global veterinary infectious disease diagnostics market size was valued at USD 1.93 billion in 2022. It is estimated to reach USD 3.95 billion by 2031, growing at a CAGR of 8.49% during the forecast period (2023–2031).

Veterinary infectious disease diagnostics refers to tests that help determine and identify various animal illnesses. Various techniques are used to administer these treatments while utilizing patient tissue, excrement, and blood samples. New methods and technology developed for human diagnostics are frequently employed in veterinary diagnostics. Molecular diagnostics (PCR testing, microarrays, etc.), immunodiagnostics (lateral flow assays, ELISA, etc.), and other methods are used in veterinary diagnostics. According to market size, animal infectious diseases are the most common illness. An optimistic view of animal diagnosis encourages the number of species to grow. The market for veterinary infectious disease diagnostics is growing as more companion animals contract various infectious diseases, pet insurance demand is increasing, and there are more companion animals and more modern diagnostic tools for animals.

Highlights

• Immunodiagnostics dominate the product segment.
• Dogs dominate the application segment.
• North America is the highest shareholder in the global market.

Market Dynamics

Growing Adoption of Pets

It is projected that the number of pet owners will continue to grow, raising demand for products and services related to pet maintenance. There will probably be an economic effect from this rise in demand. As a result, ancillary industries will grow more rapidly everywhere, including the veterinary infectious disease diagnostics market. According to a survey done by the American Pet Products Association (APPA) and dubbed the National Pet Owners poll, 68% of all homes in North America—or around 84.9 million families—have at least one pet.

In addition, approximately 68% of all households in North America are represented by this statistic. The number of families with all three animals—a dog, a cat, or both—is 1.7 billion, increasing demand for veterinary infectious disease diagnostics and the desire for pets. Moreover, 1.7 billion households include both a dog and a cat. All three species are present in 1.7 billion households worldwide.

Advanced Diagnostic Devices for Animals

Diagnostic testing that is both advanced and individualized helps clinicians find the underlying reasons for potential physiological imbalances and allows them to modify treatment regimens to the requirements of individual patients precisely. In other words, advanced diagnostic testing helps clinicians determine the root causes of likely bodily imbalances. This evaluation considers everything from our genetic predispositions to the many bacteria inhabiting our digestive tracts.

Additionally, the testing procedure itself is a challenging one. As a result, other factors besides the lab results should be considered when recommending a course of treatment, such as medical history, genetic predispositions, symptoms, and treatment objectives for the animal. The next step is to decide what will be best for them personally, after which they put that animal through the necessary testing. Such demand for advanced devices drives the global market.

Global Veterinary Infectious Disease Diagnostics Market Restraint:

Increasing Price of Pet Care

The global market is expected to experience slow expansion over the forecast period due to rising pet care expenses and a lack of knowledge regarding animal healthcare in developing nations. Although the market for pet insurance is growing, very few animals are currently being treated. As a result, the majority of the cost of treatments is typically borne by animal owners.

Several consultations with veterinary specialists for pet care contribute to rising pet healthcare costs. Veterinary professionals are under pressure to raise their fees due to the lower pay in this field compared to other advanced-degree professions like dentistry and law. High pet care costs directly impact how frequently pet owners visit veterinary clinics, which hinders the expansion of this market.

Global Veterinary Infectious Disease Diagnostics Market Opportunities:

Increased Awareness of Animal Healthcare

Animal healthcare is becoming more widely known as a result of pet owners' growing concern for the well-being of their companion animals. This leads to a greater understanding of animal diseases, increasing the demand for veterinary diagnostics. In addition, the presence of organizations that raise awareness about animal healthcare contributes to expanding the market. For example, the Canadian Veterinary Medical Association (CVMA) organizes and hosts animal health week, a national public awareness campaign organized and hosted by veterinarians across Canada. The campaign aims to promote animal health and responsible pet ownership. Therefore, increased public awareness regarding animal healthcare is a significant factor that is anticipated to provide lucrative opportunities for market growth over the forecast stretch.

Regional Analysis

Based on region, the global veterinary infectious disease diagnostics market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global veterinary infectious disease diagnostics market shareholder and is estimated to exhibit a CAGR of 9.41% over the forecast period. The global veterinary infectious disease diagnostics market is fragmented, with North America accounting for most sales. This can be attributed to several factors, including how simple it is to diagnose veterinary infectious diseases. The sector is also growing due to an increase in the number of individuals in the area who own pets and a corresponding rise in awareness of companion animal health. Due to the increased public awareness of the importance of early detection of diseases in companion animals, the region holds the largest market share. Additionally, a surge in customer demand for better veterinary treatment alternatives is projected to fuel the market's growth. The increasing prevalence of numerous animal-related diseases is another significant factor supporting this market's expansion.

Asia-Pacific is anticipated to exhibit a CAGR of 13.94% over the forecast period. The veterinary infectious disease diagnostics market has enormous potential in Asia-Pacific, which is predicted to grow at the fastest rate over the projected period. This is primarily due to an increase in the proportion of households with pets. As they are still developing, the nations of the Asia-Pacific area are regarded as emerging markets. Both China and Australia are exhibiting evidence of a rise in the number of pet owners and a rise in understanding about the early diagnosis and treatment of illnesses common in companion animals. In addition, the cost of veterinary care for animals in the area is rising, which has increased the demand for veterinary infectious disease diagnostics.

In Europe, the market for these products is growing significantly due to increased R&D efforts for veterinary infectious disease diagnostics. Another important factor driving the expansion of the veterinary infectious disease diagnostics market in this region is the rise in the prevalence of infectious disorders among companion animals. Additionally, the industry is growing because of increased awareness about the health of companion animals. The accessibility of veterinary infectious disease diagnostics services also facilitates the market's expansion.

LAMEA is a developing market since spending on animal healthcare is expected to increase during the projected period, opening up lucrative prospects for industry participants. Due to economic reforms that have raised living conditions in this region over the past 20 years and opened up various opportunities for the animal research and healthcare industries, this area has had the fastest economic growth. These factors are projected to expand the market for veterinary infectious disease diagnostics.

Segmental Analysis

The global veterinary infectious disease diagnostics market is bifurcated into products and applications.

Based on the product, the global market is bifurcated into immunodiagnostics, molecular diagnostics, and others.

The immunodiagnostics segment dominates the global market and is predicted to exhibit a CAGR of 9.21% over the forecast period. Antibodies' capacity to bind to a particular antigen of interest is used in immunodiagnostics, which are products. Diagnostics of this type are used to detect and diagnose infectious diseases in animals. Numerous in vitro diagnostic tests are also commercially available. These techniques are employed in the immunodiagnostic identification of antibodies for infectious illnesses in animal specimens. Furthermore, it is necessary to find antigens or antibodies directed against invaders like viruses, bacteria, or parasites to diagnose animal infectious disorders. Several immunodiagnostic techniques, like lateral flow assays and ELISA, are also used to find animal infectious disorders.

In addition to that, the techniques behind these examinations differ. For instance, the presence of a control line in lateral flow assays demonstrates that the test is effective. A target line or lines are included in the test, and one or more test lines are intended to include spontaneous user protocols. These tests also require little preparation because they can be seen visually.

Based on application, the global market is bifurcated into dogs, cats, and others. 

The dog segment owns the highest market share and is predicted to exhibit a CAGR of 9.0% over the forecast period. Dogs typically rank highly among the most well-liked pets in the world. This is mainly because dogs are social animals and require less maintenance than other pets. American Pet Products Association, Inc. figures show that approximately 90 million dogs are kept as pets in the United States. In addition, increased public understanding of the importance of routine preventative veterinarian care and an increase in the average lifespan of companion animals have been directly correlated during the past few decades. Regardless of the serious condition, a quick diagnosis and treatment are required if a dog acquires an infection.

Examples of infectious diseases that are spreadable and have the potential to harm dogs and demand prompt medical attention include canine distemper, canine coronavirus, and canine influenza. Hepatitis, ringworm, and parvovirus are other contagious illnesses that can harm dogs. As a result, there has been an increase in the need for veterinary disease diagnostics, which has helped to drive the market's growth.

Recent Developments

• June 2022- Boehringer Ingelheim entered into a joint venture with Evotec and bioMérieux to create the next generation of antimicrobials and actionable diagnostics to fight Antimicrobial Resistance (AMR).

• May 2022- bioMérieux stated that it received De Novo FDA authorization for its Biofire, a joint infection pane. It is the newest syndromic panel intended to aid in the diagnosis of the specific agents causing joint infections.

• March 2021- Zomedica Corp., a veterinary health corporation that manufactures point-of-care diagnostics for cats and dogs, recorded the first veterinarian sale of TRUFORMA and officially entered commercialization.