Comprehensive Analysis of the Veterinary Diagnostic Services Market 2025-2034: Growth Rates, Trends, and Future Opportunities
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How has the veterinary diagnostic services market grown in recent years?
The market for veterinary diagnostic services has seen robust expansion in the recent past. The market size will rise from $13.05 billion in 2024 to $14.22 billion in 2025, with a compound annual growth rate (CAGR) of 9.0%. The historic growth rate is attributable to the surge in pet ownership and pet healthcare expenses, escalating occurrence of chronic ailments in pets, expansion of veterinary clinics and hospitals, improved emphasis on preemptive care and early disease detection, and advancements in molecular diagnostics and imaging technologies.
How is the veterinary diagnostic services market size expected to evolve during the forecast period?
The market size for veterinary diagnostic services is projected to experience robust growth in the coming years, with a value forecasted to reach $19.78 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.6%. Factors driving this growth during the predicted period include an increase in pet numbers alongside a rise in demand for high-level diagnostic services, greater usage of artificial intelligence (AI) and machine learning in diagnosis procedures, the broadening scope of telemedicine and remote diagnostics, a growing focus on bespoke and precision animal healthcare, advancements in diagnostic technologies and methodologies, an acceleration in research & development investments, and partnerships within the veterinary industry. Key trends anticipated during this period comprise the amalgamation of AI and big data analytics in diagnostic operations, at-home testing capabilities, wearable tech for constant health supervision, preventative and proactive animal care, the emergence of holistic diagnostic platforms and combined solutions, and breakthroughs in digital health.
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Which key drivers are propelling the veterinary diagnostic services market’s growth?
The surge in animal adoption is anticipated to significantly boost the veterinary diagnostic services market’s expansion. The act of adopting an animal involves providing a forever home for creatures, typically sourced from rescues, shelters, or previous caregivers, offering them the required attention and companionship. This surge is primarily due to heightened awareness about animal well-being, emotional perks of having pets, and a heightened desire to save animals from rescue centers, offering them a secure, loving environment. Veterinary diagnostic services play a vital role in this context, safeguarding the well-being of pets and animals, diagnosing underlying health issues, and facilitating informed choices and adequate care for the adopted animals. For example, the American Pet Products Association, a nonprofit industry group based in the U.S., reported in April 2024, during 2023-2024, that 86.9 million U.S. households owned pets, equating to 66% of all households, a rise from 62% in 2022. Thus, the surge in animal adoption is pushing the growth of the veterinary diagnostic services market.
What are the market segments in the veterinary diagnostic services industry?
The veterinary diagnostic services market covered in this report is segmented –
1) By Type: Point-Of-Care (PoC), Laboratory-Based
2) By Test: In Vitro Diagnosis, In Vivo Diagnosis
3) By Testing Category: Clinical Chemistry, Microbiology, Parasitology, Histopathology, Cytopathology, Hematology, Immunology And Serology, Imaging, Molecular Diagnostics, Other Categories
4) By Animal Type: Companion Animals, Production Animals, Other Animal Types
5) By Service Provider: Veterinary Hospital Or Clinic Laboratories, Reference Laboratories
Subsegments:
1) By Point-Of-Care (PoC): Rapid Test Kits, Portable Diagnostic Devices, Handheld Blood Analyzers, Point-of-Care Ultrasound, In-Hospital Testing Systems
2) By Laboratory-Based: Clinical Pathology Services, Histopathology Services, Microbiology Services, Serology Testing, Molecular Diagnostics, Biochemistry Testing, Reference Laboratory Services
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Which leading companies are shaping the growth of the veterinary diagnostic services market?
Major companies operating in the veterinary diagnostic services market are Thermo Fisher Scientific Inc., Zoetis Services LLC, VCA Animal Hospitals, Biomérieux SA, SYNLAB International GmbH, IDEXX Laboratories Inc., Virbac, Antech Diagnostics Inc., Randox Laboratories Ltd., Heska Corporation, Neogen Corporation, Karyopharm Therapeutics, MediVet, IDvet, Ellie Diagnostics, BioChek B.V., Embark Veterinary Inc., NationWide Laboratories, PetDx, Scil Animal Care Company, Ardent Animal Health, Paw Print Genetics
What key trends are currently impacting the veterinary diagnostic services market’s development?
Leading firms in the veterinary diagnostic services market are turning to big data and artificial intelligence (AI) to enhance their data analysis, specifically through the adoption of AI-driven veterinary X-ray image diagnostic aids. These service aids use advanced algorithms to interpret X-ray images, offering more precise diagnostic information that can aid veterinarians in making informed decisions and improving patient care. As an example, in June 2024, SK Telecom, a prominent telecommunications company based in South Korea, rolled out its AI-driven veterinary X-ray image diagnostic aid, X Caliber. The service revolutionizes pet healthcare by rendering advanced diagnostic abilities. X Caliber employs AI to scrutinize X-ray images of dogs and cats, giving results within 15 seconds and storing data in the cloud for streamlined access and organization. It boasts a sensitivity range of 86% to 94%, enabling the detection of a variety of anomalies and is currently accessible in over 100 veterinary clinics throughout Australia, with intentions of further global expansion.
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Which geographic areas are influencing the growth of the veterinary diagnostic services market?
North America was the largest region in the veterinary diagnostic services market in 2024. The regions covered in the veterinary diagnostic services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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