At 7.9% CAGR, the North America Veterinary Diagnostics Market is Projected to be Worth US$ 3,138.89 Million by 2030, Says Business Market Insights

According to Business Market Insights research, the North America veterinary diagnostics market was valued at US$ 1,711.65 million in 2022 and is expected to reach US$ 3,138.89 million by 2030, registering a CAGR of 7.9% from 2022 to 2030. Rising prevalence of zoonotic disease and growing ownership of companion animals are among the critical factors attributed to the North America veterinary diagnostics market expansion.

Zoonotic diseases cause illnesses not only in animals but also in humans. These infections can cause from mild to severe conditions. As per the Council on Foreign Relations, zoonoses cause 2.5 billion illnesses and 2.7 million deaths each year globally, accounting for 60% of known infectious diseases and 75% of new or emerging infectious diseases. Also, according to Centers for Disease Control and Prevention, in 2023, 6 out of every 10 infectious diseases in humans are spread by animals, and 3 of 4 new or emerging infectious diseases are transferred by animals. Further, dogs contribute to 99% of all rabies transmissions to humans and are a major source of human rabies deaths. The economic burden due to dog-mediated rabies is estimated to be US$ 8.6 billion/year globally. According to the World Health Organization (WHO), rabies occurs in more than 150 countries and causes tens of thousands of deaths yearly, particularly in Asia and Africa. Of these, ~40% are children under 15 years of age. Cats, cattle, and dogs are the most reported rabid domestic animals in the US. Of these, ~40% are children under 15 years of age. Cats, cattle, and dogs are the most reported rabid domestic animals in the US. Thus, the rising rabies globally increases the need for diagnoses of the illnesses, contributing to the growth of the veterinary diagnostics market. Also, the rising prevalence of zoonotic diseases globally accelerates the demand for veterinary diagnostics.

On the contrary, lack of skilled professionals in veterinary research hampers the growth North America veterinary diagnostics market.

Based on product, the North America veterinary diagnostics market is bifurcated into instruments and consumables. The instruments segment held 65.4% share of the North America veterinary diagnostics market in 2022, amassing US$ 1,119.77 million. It is projected to garner US$ 1,954.49 million by 2030 to expand at 7.2% CAGR during 2022-2030.

By technology, the North America veterinary diagnostics market is segmented into immunodiagnostics, clinical biochemistry, hematology, molecular diagnostics, and other veterinary diagnostic technologies. The immunodiagnostics segment held 40.7% share of the North America veterinary diagnostics market in 2022, amassing US$ 695.98 million. It is projected to garner US$ 1,408.45 million by 2030 to expand at 9.2% CAGR during 2022-2030. The immunodiagnostics segment held the largest share in 2022. The immunodiagnostics segment is further subsegmented into lateral flow assays, ELISA, immunoassay, allergen-specific immunodiagnostics test, and other immunodiagnostics. The clinical biochemistry segment is further subsegmented into clinical chemistry analysis, glucose monitoring, and blood gas and electrolyte.

By disease type, the North America veterinary diagnostics market is segmented into infectious diseases and non-infectious diseases. The infectious diseases segment held 62.2% share of the North America veterinary diagnostics market in 2022, amassing US$ 1,064.29 million. It is projected to garner US$ 2,021.18 million by 2030 to expand at 8.3% CAGR during 2022-2030.

By animal type, the North America veterinary diagnostics market is bifurcated into livestock animals and companion animals. The companion animals segment held 69.8% share of the North America veterinary diagnostics market in 2022, amassing US$ 1,194.69 million. It is projected to garner US$ 2,274.50 million by 2030 to expand at 8.4% CAGR during 2022-2030. The livestock animals segment is further subsegmented into cattle, pigs, poultry, and other livestock animals. The companion animals segment is further subsegmented into dogs, cats, horses, and other companion animals.

By end user, the North America veterinary diagnostics market is segmented into veterinary hospitals and clinics, animal diagnostic laboratories, and veterinary research institutes and universities. The veterinary hospitals and clinics segment held 52.2% share of the North America veterinary diagnostics market in 2022, amassing US$ 892.70 million. It is projected to garner US$ 1,709.29 million by 2030 to expand at 8.5% CAGR during 2022-2030.

Based on country, the North America veterinary diagnostics market is segmented into the US, Canada, and Mexico. The US held 87.3% share of North America veterinary diagnostics market in 2022, amassing US$ 1,493.42 million. It is projected to garner US$ 2,761.23 million by 2030 to expand at 8.0% CAGR during 2022-2030.

Key players operating in the North America veterinary diagnostics market are FUJIFILM Holdings Corp, Heska Corp, Idexx Laboratories Inc, INDICAL BIOSCIENCE GmbH, Merck Animal Health, Neogen Corp, Randox Laboratories Ltd, Thermo Fisher Scientific Inc, Virbac SA, and Zoetis Inc, among others.

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