The Role of North America and Asia Pacific in Shaping the Global Veterinary Diagnostics Market

The global veterinary diagnostics market was valued at USD 9.29 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 10.02% from 2024 to 2030. Several factors are driving this growth, including an increased focus on animal health, a rising incidence of diseases in animals, technological advancements in diagnostic tools, and a general trend toward higher levels of medicalization in veterinary care.

Key Drivers of Market Growth

Increased Expenditure on Animal Health As pet ownership continues to rise, particularly in developed markets, the expenditure on animal healthcare is also increasing. Pet owners are more willing to invest in their pets' well-being, demanding higher-quality veterinary care, including advanced diagnostic services. Additionally, as livestock farming becomes more industrialized, the demand for efficient and accurate diagnostics in veterinary practices is also expanding.
Rising Incidence of Animal Diseases The increasing incidence of diseases, particularly zoonotic diseases (those that can be transmitted from animals to humans), is a major factor driving the demand for veterinary diagnostics. For instance, the rise in vector-borne diseases like canine leishmaniosis and tick-borne diseases in pets has increased the need for diagnostic tools capable of early detection. Veterinary practices and research institutes are also focusing more on the timely diagnosis of infectious diseases in livestock, poultry, and companion animals to prevent the spread of infections.
Advancements in Diagnostic Technologies The veterinary diagnostics industry has benefited from continuous advancements in diagnostic technologies, particularly in the fields of molecular diagnostics, imaging technologies, and Point-of-Care (PoC) testing. These innovations are allowing veterinarians to diagnose diseases faster, more accurately, and at lower costs. Molecular diagnostics, for example, have become essential for identifying pathogens at the genetic level, offering unparalleled sensitivity and specificity.
Point-of-Care (PoC) Diagnostic Tools One of the most significant advancements in veterinary diagnostics has been the development of Point-of-Care (PoC) diagnostic tools. These devices allow for the rapid and accurate diagnosis of diseases directly at the veterinary practice, eliminating the need for expensive and time-consuming laboratory tests. The ability to obtain real-time results enables faster decision-making, leading to quicker treatment initiation, which is critical for improving health outcomes in animals. PoC tools are particularly useful in emergency situations and in rural or remote areas where access to full laboratory facilities may be limited.
Zoonotic Disease Concerns The growing awareness of zoonotic diseases (diseases that spread from animals to humans) has further heightened the importance of veterinary diagnostics. Outbreaks of diseases like avian influenza, mad cow disease, and COVID-19 have underscored the need for accurate, timely, and comprehensive diagnostics in animals. As a result, governments and organizations are increasingly focusing on improving veterinary diagnostic systems to prevent the spread of zoonotic diseases and protect both human and animal populations.

Gather more insights about the market drivers, restrains and growth of the Veterinary Diagnostics Market

Regional Insights

North America:

North America held the largest market share of 38.6% in 2023. The region’s dominance in the veterinary diagnostics market can be attributed to several factors:

Established Veterinary Healthcare Infrastructure: North America is home to some of the most advanced veterinary healthcare systems, which includes sophisticated diagnostic laboratories, high-quality veterinary services, and extensive access to the latest diagnostic tools.
Technological Adoption: The rapid adoption of advanced veterinary diagnostic technologies such as AI-driven diagnostic platforms, molecular diagnostics, and automated systems has strengthened the market in the region.
High Disposable Income: With higher disposable income in countries like the U.S. and Canada, pet owners are more willing to spend on premium veterinary services, including advanced diagnostics, to ensure the well-being of their pets.
Presence of Key Companies: Major veterinary diagnostic companies, such as Mars Petcare, IDEXX Laboratories, and Zoetis, have a significant presence in North America. These companies are constantly innovating and expanding their product portfolios to cater to the increasing demand for animal diagnostics. For example, Zoetis launched the Vetscan Imagyst platform, which uses AI for blood smear testing in dogs and cats, enhancing diagnostic accuracy and speed.

Asia Pacific:

Asia Pacific is expected to grow at the fastest CAGR of 12.0% from 2024 to 2030. Several factors contribute to the rapid growth of the veterinary diagnostics market in the region:

Emerging Markets with Untapped Potential: Many countries in Southeast Asia and other parts of Asia Pacific, such as China, India, Vietnam, and Indonesia, represent significant untapped markets for veterinary diagnostics. As these economies develop and urbanize, there is an increasing focus on improving animal healthcare and diagnostics.
Rising Focus on Animal Health: Economic growth in countries like China and India is driving a greater focus on pet ownership and livestock health, leading to a rising demand for veterinary diagnostic services.
Changing Lifestyles: As urbanization progresses and more people in Asia Pacific adopt pets, there is an increasing trend toward treating pets as family members, which leads to higher demand for advanced diagnostics to ensure pet health.
Investment in Veterinary Infrastructure: Many governments in the region are focusing on expanding their veterinary healthcare infrastructure, including diagnostic capabilities. Additionally, a growing middle class in countries like China and India is willing to invest in high-quality veterinary services.

Browse through Grand View Research's Category Animal Health Industry Research Reports.

The global pet funeral services market sizewas estimated at USD 1.97 billion in 2024 and is projected to grow at a CAGR of 11.45% from 2025 to 2030.
The global veterinary medicine market sizewas estimated at USD 49.96 billion in 2024 and is projected to grow at a CAGR of 8.5% from 2025 to 2030.

Key Veterinary Diagnostics Companies:

The following are the leading companies in the veterinary diagnostics market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps products of these veterinary diagnostics companies are analyzed to map the supply network.