Global Veterinary Point Of Care Diagnostics Market Size & Outlook
Global veterinary point of care diagnostics market, 2018-2030 (US$M)
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Global veterinary point of care diagnostics market highlights
- The global veterinary point of care diagnostics market generated a revenue of USD 1,745.4 million in 2022 and is expected to reach USD 4,134.3 million by 2030.
- The market is expected to grow at a CAGR (2023 - 2030) of 11.4% by 2030.
- In terms of segment, companion animals accounted for a revenue of USD 1,066.6 million in 2022.
- Livestock Animals is the most lucrative animal type segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2022.
- Country-wise, Germany is expected to register the highest CAGR from 2023 to 2030.
Global data book summary
| Market revenue in 2022 | USD 1,745.4 million |
| Market revenue in 2030 | USD 4,134.3 million |
| Growth rate | 11.4% (CAGR from 2022 to 2030) |
| Largest segment | Companion animals |
| Fastest growing segment | Livestock Animals |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Companion Animals, Livestock Animals |
Other key industry trends
- In terms of revenue, the North America accounted for 53.3% of the global veterinary point of care diagnostics market in 2022.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Germany is the fastest growing regional market and is projected to reach USD 283.3 million by 2030.
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Veterinary Point Of Care Diagnostics Market Scope
Veterinary Point Of Care Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global veterinary point of care 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 point of care diagnostics market will help companies and investors design strategic landscapes.
Companion animals was the largest segment with a revenue share of 61.11% in 2022. Horizon Databook has segmented the Global veterinary point of care diagnostics market based on companion animals, livestock animals covering the revenue growth of each sub-segment from 2018 to 2030.
The growing need to diversify service offerings and increase practice revenue is a key driver propelling the market. As per the Bayer veterinary care usage study published in the Journal of the American Veterinary Medical Association, competition was found to be the most common concern expressed during interviews with veterinary practice owners..
This was owing to rising availability of veterinary practices of more different types than ever before. Respondents of the study reported concern about competition from other traditional veterinary hospitals and emerging types of practice models that have become more common in recent years.
These include clinics located in pet stores, veterinary services provided by animal shelters and rescue operations, mobile vaccination clinics, and specialty referral practices. This has led vet practice owners to expand their services to include diagnostic services in order to stay competitive and increase revenue. Hence the demand for affordable and easy to administer veterinary point of care diagnostic products is estimated to rise over the forecast period.
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Target buyers of Global veterinary point of care diagnostics market databook
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Our clientele includes a mix of veterinary point of care 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 global-level data and insights on the Global veterinary point of care diagnostics market , including forecasts for subscribers. This global databook contains high-level insights into Global veterinary point of care diagnostics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global veterinary point of care diagnostics market size, by region, 2018-2030 (US$M)
Top 10 countries: Veterinary point of care diagnostics market size, 2022 (US$M)
Global veterinary point of care diagnostics market share, by animal type, 2022 & 2030 (%, US$M)
Veterinary point of care diagnostics market: Opportunity assessment by country
Global veterinary point of care diagnostics market, by region, 2022 (US$M)
| Animal Type | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Latin America | 45.5 | 50.6 | 60.9 | 74.7 | 79.5 | 89.0 | 100.0 | 112.5 | 126.9 | 143.6 | 162.8 | 185.0 | 210.8 | 13.9% |
| Europe | 320.3 | 349.9 | 413.4 | 497.5 | 519.5 | 571.8 | 630.8 | 697.7 | 773.6 | 860.0 | 958.7 | 1,071.5 | 1,201.0 | 11.6% |
| North America | 579.4 | 631.4 | 744.3 | 893.6 | 930.8 | 1,021.9 | 1,124.7 | 1,240.9 | 1,372.5 | 1,522.0 | 1,692.3 | 1,886.7 | 2,109.3 | 10.0% |
| MEA | 17.7 | 19.7 | 23.7 | 29.0 | 30.8 | 34.5 | 38.7 | 43.5 | 49.0 | 55.3 | 62.7 | 71.2 | 81.0 | 13.6% |
| Asia Pacific | 100.5 | 113.5 | 138.4 | 171.8 | 184.9 | 209.6 | 238.0 | 270.8 | 308.6 | 352.5 | 403.5 | 462.8 | 532.1 | 14.6% |
| Overall | 1,063.4 | 1,165.2 | 1,380.7 | 1,666.6 | 1,745.4 | 1,926.7 | 2,132.1 | 2,365.3 | 2,630.6 | 2,933.4 | 3,279.9 | 3,677.2 | 4,134.3 | 11.4% |
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