From GlobeNewswire: 2025-04-02 05:52:00

The veterinary diagnostics market is projected to grow from US$ 4.04 billion in 2022 to US$ 7.27 billion by 2030, with a CAGR of 7.60%. This growth is driven by the increasing prevalence of zoonotic diseases and the rise in companion animal ownership. Key players in the market include Thermo Fisher Scientific, Idexx Laboratories, and Zoetis.

Technological advancements are playing a crucial role in the growth of the veterinary diagnostics market, with a focus on AI, machine learning, point-of-care diagnostics, genomics, and wearable devices for continuous monitoring. Companies like Fujifilm, Zoetis, and IDEXX are launching innovative products to cater to the evolving needs of the industry.

In 2022, North America led the veterinary diagnostics market, followed by Europe and APAC. However, Asia Pacific is expected to register the highest CAGR in the coming years. The market is segmented by product, technology, animal type, disease type, and end user, providing a comprehensive overview of the industry landscape.

The rising ownership of companion animals globally, driven by increasing disposable income and awareness of animal health, is fueling the demand for veterinary diagnostics. With advancements in diagnostic equipment and preventive care technologies, the market is poised for significant growth. Wearable devices for animals and innovative diagnostic tools are transforming the sector.

Overall, the veterinary diagnostics market is experiencing robust growth, propelled by technological innovations, the growing ownership of companion animals, and the increasing focus on zoonotic diseases. With a projected CAGR of 7.6% from 2022 to 2030, the market is set to offer sophisticated and accessible solutions for animal health management, catering to the evolving needs of pet owners and the livestock industry.



Read more at GlobeNewswire: Veterinary Diagnostics Market Set to Reach USD 7.27 Billion