U.S. Veterinary Diagnostics Market Size, Share & Industry Analysis, By Product Type (Instruments and Reagents & Consumables), By Technique (Hematology, Immunodiagnostics, Molecular Diagnostics, Diagnostic Imaging, Clinical Biochemistry, and Others), By Animal Type (Livestock and Companion), By End User (Veterinary Hospitals & Clinics, Veterinary Reference Laboratories, and Others), and Country Forecast, 2024-2032

The U.S. veterinary diagnostics market size was worth USD 3.39 billion in 2023 and is projected to grow at a CAGR of 8.6% during the forecast period. 

In the U.S., there is a significant rise in pet ownership and spending on pet care. Many companies also offer favorable pet insurance policies specifically for companion animals. Also, various government bodies such as the Food and Agriculture Organization are working toward increasing veterinary care awareness and developing diagnostic infrastructure in the country.

Moreover, the rising cases of veterinary disease outbreaks promote the strong demand for animal diagnostics in the U.S.

• According to an article published in the National Library of Medicine in 2022, approximately 7.0% of diarrheic pigs are infected with Porcine delta coronavirus (PDCoV) in the U.S.

Additionally, the major players strongly focus on strategic activities, such as acquisitions and partnerships, to provide advanced veterinary diagnostic products. Such initiatives will likely propel the market expansion in the U.S.

LATEST TRENDS

Increasing Adoption of Point-of-Care Diagnostics to Augment the Market Expansion

Point-of-care technology has improved the speed, standardization, and efficacy of veterinary diagnostic tests. These techniques have several advantages over manual methods as they are rapid, reliable, and require lower detection limits. An additional benefit of automated systems is that it requires limited healthcare personnel and can overcome the issue of cross-trained, less-experienced staff at veterinary diagnostics services.

Furthermore, the benefits associated with point-of-care devices are expected to boost the demand for veterinary diagnostics, propelling the market growth in future. Similarly, prominent key players' increased focus and initiatives on developing point of care diagnostics are expected to promote the U.S. veterinary diagnostics market growth.

• In September 2021, Heska Corporation announced owning the majority share of Biotech Laboratories U.S.A. LLC to expand its portfolio and market at a global level. With this acquisition, the company entered the rapid assay point-of-care diagnostics market.

DRIVING FACTORS

Rising Pet Ownership and Willingness to Spend on Pet Care to Aid Market Growth Prospects

The number of pet owners increased due to the rapid adoption of modern lifestyles and the growing trend of nuclear families. Moreover, rising disposable income and affection toward pets are some of the factors leading to a surge in pet ownership in the country.

• The Forbes Advisor survey reports that 78.0% of pet owners acquired pets during the pandemic in the U.S.

Increased awareness about the applications and benefits of diagnostics and various animal diseases among pet owners and the presence of rapid tests, which can be done at home are anticipated to fuel the demand for these tests.

RESTRAINING FACTORS

High Cost Associated with Veterinary Diagnostics to Deter Market Growth

The increasing demand for veterinary diagnostics might get hampered by several factors in the coming years. The high costs associated with these tests can hinder the market growth as it may lead to lesser adoption of products and services. The high cost of drugs and the latest medical equipment for veterinary purposes collectively have led to the increasing cost of veterinary care.

Also, the high costs of general tests, including blood and urine tests for companion animals, are hampering the adoption of diagnostic care for pet animals:

• For instance, according to an article published by Hepper in 2023, the average cost for CBC/chemistry profile combination blood tests for dogs ranges between USD 100.0 and USD 200.0. Similarly, the average cost of a dog urinalysis ranges between USD 40.0 and USD 70.0.

According to an article published by World Animal Foundation (WAF) in 2023, the U.S. states, such as Montana and Arkansas, possess the highest percentage of dog owners (around 52.0%).

SEGMENTATION

By Product Type Analysis

Based on product type, the market is segmented into instruments and reagents & consumables.

The reagents & consumables segment held a larger share in 2022. Growing spending on veterinary care, robust adoption of advanced reagents and kits, and strong government focus on eradicating zoonotic diseases will likely augment the adoption of diagnostic kits. Also, the emphasis on research & development of innovative test kits for various veterinary diseases is expected to contribute to the segment’s growth.

• For instance, in 2022, BGI Americas (BGIA) partnered with Randox Laboratories Ltd. to distribute its chemistry analyzers and reagents, consumables, quality controls, and other services in the U.S. Such factors are expected to boost the U.S. veterinary diagnostics market growth.

By Technique Analysis

The market is segmented based on technique into hematology, immunodiagnostics, molecular diagnostics, diagnostic imaging, clinical biochemistry, and others.

The immunodiagnostics segment dominated the U.S. veterinary diagnostics market share in 2022. The increasing prevalence of chronic diseases such as cancer in companion and livestock animals and favorable reimbursement facilities are likely to upsurge the demand for advanced tests. Thus, the growing demand for advanced veterinary diagnostics, such as immunodiagnostics, is expected to propel the segment’s growth.

• In the U.S., an estimated 6,000,000.0 dogs and nearly 6,000,000 cats will be diagnosed with cancer in 2023.

By Animal Type Analysis

Based on animal type, the market is segmented into livestock and companion.

The companion segment held the dominant share of the market. According to the National Pet Owners Survey, approximately 70.0% of all U.S. households have a companion animal. This trend of pet ownership is increasing, and the baby boomer population has been observed to contribute to a significant proportion among other demographic groups. Companionship offered by pets in their loneliness is one of the primary reasons for the adoption of pets by the geriatric population.

Moreover, urbanization, increasing disposable income, willingness to spend on pet care, and growing awareness about animal diseases will likely drive segment growth by 2030.

• In May 2023, MySimplePetLab launched a targeted relief dog care kit. The test and care products provide diagnosis and solutions for pet concerns quickly.

By End User Analysis

Based on end user, the market is segmented into veterinary hospitals & clinics, veterinary reference laboratories, and others.

The veterinary reference laboratories segment held a larger market share in 2022. The growth of this segment is attributed to the rise in the number of veterinary reference laboratories. Also, certain key players are focusing on strategic acquisitions to expand their space in veterinary reference laboratories. Such acquisition aims to provide patients and healthcare professionals with technologically advanced diagnostic testing and services.

• For instance, in February 2020, Zoetis Services LLC acquired Ethos Diagnostic Science to expand its space in veterinary reference laboratories and provide comprehensive diagnostics in the U.S.

KEY INDUSTRY PLAYERS

The market depicts a consolidated competitive landscape and comprises various established and emerging veterinary diagnostics companies. IDEXX Laboratories, Inc. held the maximum market share in 2022. The factors attributed to the company’s dominance are its robust companion and livestock diagnostics product portfolio, product launches, and domestic market presence.

• In January 2022, IDEXX Laboratories, Inc. collaborated with One Health Company to expand access to FidoCure's next-generation DNA sequencing test for veterinary use in the U.S. and Canada.

Besides, Zoetis Services LLC and Heska Corporation held substantial shares in the U.S. market. Some of the other companies with a considerable presence in the U.S. market include Virbac, Zomedica Corp., and VCA Animal Hospitals (Mars, Incorporated). These companies are focusing on strategic moves, which are anticipated to enable companies to further strengthen their market presence.

LIST OF KEY COMPANIES PROFILED:

• IDEXX Laboratories, Inc. (U.S.)


• Zoetis Services LLC (U.S.)


• Heska Corporation (U.S.)


• Thermo Fisher Scientific Inc. (U.S.)


• Avante Animal Health (U.S.)


• Virbac (France)


• Randox Laboratories Ltd. (U.K.)


• VCA Animal Hospitals (Mars, Incorporated) (U.S.)

KEY INDUSTRY DEVELOPMENTS: 

• March 2023: Zoetis announced expansion of applications for its Vetscan Imagyst diagnostic platform. The company announced the addition of two new applications including Artificial Intelligence (AI) Dermatology and AI Equine FEC analysis.


• August 2022 – VCA Animal Hospitals (Mars, Incorporated) opened its first Urgent care hospital in Los Angeles to expand its network in primary, emergency, and specialty animal hospitals.


• March 2021 - ANGLE plc completed the fit-out and staffing of its clinical services laboratories in the U.K. and the U.S. It will be launched soon in the U.S. and the U.K. laboratories opening in line with anticipated timescales.

REPORT COVERAGE

The market research report depicts a detailed analysis of the market. It emphasizes vital segments such as product type, technique, animal type, and end user. Moreover, it highlights the deep analysis of pet ownership statistics, various veterinary diseases, pet insurance scenarios, key industry developments, veterinary diagnostics industry trends, technological advancements, and significant players in the market. Additionally, it includes critical dynamics, the impact of COVID-19, and the U.S. veterinary diagnostics market forecast.

Report Scope & Segmentation