Animal Health Diagnostics and Therapeutics Market was valued at USD 6.9 Billion in 2022 and is projected to reach USD 10.1 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The global Animal Health Diagnostics and Therapeutics market was valued at approximately USD 12.5 billion in 2022, with projections indicating a robust growth trajectory. The market is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2023 to 2030. This growth is driven by the increasing prevalence of zoonotic diseases, rising pet ownership, and the growing focus on livestock health to enhance productivity. Advanced diagnostic tools and innovative therapeutic solutions are contributing to the market's expansion, reflecting the increasing investment in animal health R&D and the development of new technologies.
Opportunity analysis reveals significant potential in emerging markets, particularly in regions such as Asia-Pacific and Latin America. These areas are experiencing rapid economic growth, rising disposable incomes, and increased awareness about animal health, which are contributing to a surge in demand for advanced diagnostics and therapeutics. Additionally, the growing adoption of veterinary telemedicine and wearable devices for animals presents new avenues for market expansion. Companies entering these emerging markets can capitalize on the expanding veterinary infrastructure and the growing inclination towards preventive healthcare measures for animals.
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IDEXX Laboratories
Abaxis
Thermo Fisher Scientific
Neogen
Heska
Zoetis
QIAGEN
Biomerieux
Virbac
Randox Laboratories
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Animal Health Diagnostics and Therapeutics Market
Veterinary Hospitals
Veterinary Clinics
Based on Types the Market is categorized into Below types that held the largest Animal Health Diagnostics and Therapeutics market share In 2023.
Instruments
Consumables
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Animal Health Diagnostics and Therapeutics Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Animal Health Diagnostics and Therapeutics Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Animal Health Diagnostics and Therapeutics Market, By Type
6. Global Animal Health Diagnostics and Therapeutics Market, By Application
7. Global Animal Health Diagnostics and Therapeutics Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Animal Health Diagnostics and Therapeutics Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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