Mexico Veterinary Diagnostics Market Size & Outlook
Mexico veterinary diagnostics market, 2018-2030 (US$M)
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Mexico veterinary diagnostics market highlights
- The Mexico veterinary diagnostics market generated a revenue of USD 168.0 million in 2023 and is expected to reach USD 365.9 million by 2030.
- The Mexico market is expected to grow at a CAGR of 11.8% from 2024 to 2030.
- In terms of segment, consumables, reagents & kits was the largest revenue generating product in 2023.
- Consumables, Reagents & Kits is the most lucrative product segment registering the fastest growth during the forecast period.
Veterinary diagnostics market data book summary
| Market revenue in 2023 | USD 168.0 million |
| Market revenue in 2030 | USD 365.9 million |
| Growth rate | 11.8% (CAGR from 2023 to 2030) |
| Largest segment | Consumables, reagents & kits |
| Fastest growing segment | Consumables, Reagents & Kits |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Consumables, Reagents & Kits, Equipment & Instruments |
| Key market players worldwide | IDEXX Laboratories Inc, Zoetis Inc Class A, Antech Diagnostics, Hera SpA, Embark, Esaote, Thermo Fisher Scientific Inc, Virbac SA, FUJIFILM Holdings Corp |
Other key industry trends
- In terms of revenue, Mexico accounted for 1.8% of the global veterinary diagnostics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil veterinary diagnostics market is projected to lead the regional market in terms of revenue in 2030.
- Argentina is the fastest growing regional market in Latin America and is projected to reach USD 76.5 million by 2030.
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Veterinary Diagnostics Market Scope
Veterinary Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico veterinary diagnostics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to veterinary diagnostics market will help companies and investors design strategic landscapes.
Consumables, reagents & kits was the largest segment with a revenue share of 52.86% in 2023. Horizon Databook has segmented the Mexico veterinary diagnostics market based on consumables, reagents & kits, equipment & instruments covering the revenue growth of each sub-segment from 2018 to 2030.
Growing incidence of animal diseases is the key factor driving the growth of the veterinary market in Mexico. In 2017, as per the Food and Agriculture Organization, 2,167 thousand metric ton of meat was imported and 6,801 thousand metric ton of meat was produced.
Moreover, cattle and beef industry in the country has evolved rapidly in the past decade. For Mexico, the U.S. is the most significant market, which accounted for 89% of the total exports in 2017. In Mexico, the growing beef industry is expected to create a wide range of opportunities for players in the molecular diagnostics segment.
Furthermore, there are different initiatives to reduce the soaring occurrences of veterinary diseases in Mexico. For example, the U.S. Poultry and Egg Export Council and the U.S. Meat Export Federation collaborated to offer advanced infrastructure and procedures to control & eliminate veterinary diseases impacting the poultry & swine industries in Mexico.
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Target buyers of Mexico veterinary diagnostics market databook
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Our clientele includes a mix of veterinary diagnostics market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Mexico veterinary diagnostics market , including forecasts for subscribers. This country databook contains high-level insights into Mexico veterinary diagnostics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico veterinary diagnostics market size, by product, 2018-2030 (US$M)
Mexico Veterinary Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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