UK Veterinary Diagnostics Market Size & Outlook, 2023-2030
UK veterinary diagnostics market, 2018-2030 (US$M)
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UK veterinary diagnostics market highlights
- The UK veterinary diagnostics market generated a revenue of USD 701.4 million in 2023 and is expected to reach USD 1,257.8 million by 2030.
- The UK market is expected to grow at a CAGR of 8.7% 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 701.4 million |
| Market revenue in 2030 | USD 1,257.8 million |
| Growth rate | 8.7% (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, UK accounted for 7.5% 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 Europe, UK veterinary diagnostics market is projected to lead the regional market in terms of revenue in 2030.
- Sweden is the fastest growing regional market in Europe and is projected to reach USD 284.9 million by 2030.
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Veterinary Diagnostics Market Scope
Veterinary Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
UK 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 52.71% in 2023. Horizon Databook has segmented the UK veterinary diagnostics market based on consumables, reagents & kits, equipment & instruments covering the revenue growth of each sub-segment from 2018 to 2030.
Presence of high number of food-producing and companion animals makes the UK one of the largest markets for animal diagnostics and medicines. Well-established healthcare infrastructure and favorable reimbursement scenario have increased the adoption of veterinary diagnostics in the country.
For instance, according to the Association of British Insurers, in 2017, 23.0% of pets in the UK were covered by pet insurance policies and the cost of an average claim was USD 875 in 2016.
Moreover, high number of households in the UK have pets, consisting of cats, dogs, fish, rabbits, and other exotic animals. According to Pet Food Manufacturing Association, in 2016, nearly 40% (11 million) households had pets in the country.
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Target buyers of UK 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 UK veterinary diagnostics market , including forecasts for subscribers. This country databook contains high-level insights into UK veterinary diagnostics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK veterinary diagnostics market size, by product, 2018-2030 (US$M)
UK Veterinary Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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