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Report ID: HC0022
Pages: 167
Base Year: 2023
Format: PDF
Historical Date: 2019-2022
MARKET SCOPE:
The global Animal Health Diagnosis market is projected to grow significantly, registering a CAGR of 9.4% during the forecast period (2024 – 2032).
Animal health diagnosis is the process of evaluating the health status of animals using diverse methods, techniques, and diagnostic tools. The primary objective is to identify and comprehend diseases, infections, or abnormalities affecting animals, allowing for the implementation of appropriate treatment and management strategies. This field is indispensable for preserving the well-being of livestock, pets, and wildlife.
Veterinarians play a pivotal role in this process by conducting physical examinations of animals to assess their overall health, identify symptoms, and detect any visible abnormalities. Additionally, diagnostic laboratories contribute significantly to animal health diagnosis by conducting a variety of tests on samples such as blood, urine, feces, tissues, or other biological materials. These tests encompass blood chemistry assessments, complete blood counts (CBC), serological tests, and microbiological cultures, among others. Such comprehensive diagnostic approaches are essential for effective veterinary care and the overall health management of animal populations.
MARKET OVERVIEW:
Driver: Growing awareness regarding animal health is driving the market growth.
The adoption of pets represents a noteworthy trend in the market. People are increasingly opting to bring pets into their homes, primarily for companionship, and there has been a significant shift in the perception of pet ownership towards considering individuals as pet parents rather than mere pet holders. According to the American Pet Products Association (APPA) in 2019, approximately 67% of households in the United States owned at least one pet. This substantial increase in the population of pet owners is serving as a key driver for the growth of the veterinary health market. As more individuals embrace the role of pet parents, there is a corresponding surge in the demand for veterinary services, healthcare products, and diagnostics to ensure the well-being of their animal companions. This shift in attitudes towards pets is influencing the dynamics of the veterinary health market, creating opportunities for growth and development in response to the evolving needs of pet owners.
Opportunities: Public-private partnerships for animal health is expected to pave the way for next generation optical fiber market growth in the upcoming years.
The increasing demand for animal care products is fueled by the reinforcement of public-private partnerships. Growing awareness and improved accessibility to these products are key contributors to the rising demand. The 2017 survey by the OIE-World Organization of Animal Health underscores the potential impact of Public-Private Partnerships (PPPs) in elevating the quality of veterinary services worldwide. This potential arises from the reorganization of dynamic and sustainable systems, ultimately making significant contributions to the health and well-being of human populations.
COVID IMPACT:
The animal diagnostics industry experienced a positive impact from the COVID-19 pandemic, with a significant increase in the adoption of pets and the use of animal diagnostic test kits. Despite this surge, temporary closures of veterinary units during lockdowns posed constraints in certain market segments. Notably, the demand for effective COVID-19 care for animals rose during this period, acknowledging their susceptibility to the disease. The University of Glasgow played a pioneering role in identifying the presence of COVID-19 infection among various pets, including cats, dogs, and other animals.
SEGMENTATION ANALYSIS:
The immunodiagnostics is anticipated to grow significantly during the forecast period.
The immunodiagnostics segment is anticipated to surpass USD 8 billion by 2032, driven by the increasing occurrences of zoonotic diseases in livestock. Common zoonoses affecting farm animals include viral respiratory tract infections, leptospirosis, bovine ephemeral fever, infectious bovine rhinotracheitis, and Johne’s disease. According to the World Health Organization (WHO), approximately 1 billion cases of death and illness occur annually globally due to zoonoses. This underscores the critical need for advanced animal diagnostics among farmers to safeguard their investments in livestock. Immunodiagnostics plays a crucial role as it enables veterinarians to detect various autoimmune diseases, making it indispensable to the cause.
The hospital segment is anticipated to grow significantly during the forecast period.
In 2018, the largest share in the market was held by the hospitals & clinics segment. The growth of this segment was facilitated by the increasing number of pet hospitals and clinics, coupled with growing awareness about the spread of zoonotic diseases. Over the forecast period, the diagnostic centers segment is expected to experience rapid growth, driven by an increasing awareness among pet owners about the welfare and importance of preventive care for their companion animals. Furthermore, the market is being propelled by the introduction of molecular diagnostic tests such as ELISA and PCR, which now constitute a significant portion of animal healthcare practices. These advanced diagnostic techniques contribute to the overall expansion of the market.
REGIONAL ANALYSIS:
The North American region is set to witness significant growth during the forecast period.
In 2022, the North America market for animal diagnostics healthcare claimed the largest share, primarily attributed to various proactive measures implemented by government animal welfare organizations aimed at enhancing overall animal health. Additionally, the market in this region is expected to experience growth due to technological advancements, an elevated incidence of zoonotic diseases, and an increasing number of pet owners. Collaborative initiatives undertaken by major businesses to enhance their research and development capabilities and uphold high-quality standards are anticipated to further boost demand in the region. Moreover, the substantial share can be linked to the high disease burden prevalent in North America.
COMPETITIVE ANALYSIS
The global Animal Health Diagnosis market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.
Scope of the Report
** In – depth qualitative analysis will be provided in the final report subject to market
Primary and Secondary Research
In order to understand the market in detail we conduct primary and secondary research. We collect as much information as we can from the market experts through primary research. We contact the experts from both demand and supply side and conduct interviews to understand the actual market scenario. In secondary research, we study and gather the data from various secondary sources such as company annual reports, press releases, whitepapers, paid databases, journals, and many other online sources. With the help of the primary interviews, we validate the data collected from secondary sources and get a deep understanding on the subject matter. Post this our team uses statistical tools to analyses the data to arrive at a conclusion and draft it in presentable manner.
Market Size Estimations
Understanding and presenting the data collected is a crucial task. Market sizing is a critical part of the data analysis and this task is performed by using Top-down and bottom-up approaches. In this process, we place different data points, market information and industry trends at a suitable space. This placement helps us presume the estimated & forecast values for coming few years. We use several mathematical and statistical models to estimate the market sizes of different countries and segments. Each of this is further added up to outline the total market. These approaches are individually done on regional/country and segment level.
Data Triangulation
As we arrive at the total market sizes, the market is again broken down into segments and subsegments. This process is called as data triangulation and is implementable wherever applicable. This step not only helps us conclude the overall market engineering process, but also gives an assurance on accuracy of the data generated. The data is triangulated based on studying the market trends, various growth factors, and aspects of both demand and supply side.