Veterinary Biomarkers Market To Reach $2.04 Billion By 2030

Veterinary Biomarkers Market Growth & Trends

The global veterinary biomarkers market size is expected to reach USD 2.04 billion by 2030, expanding at 12.61% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The key drivers for the market growth are the increasing prevalence of numerous acute and chronic disorders among animals coupled with the growing demand for better & accurate diagnostic and monitoring technologies. According to the American Veterinary Medical Association, almost half of the dog population is developing cancer at the same rate as humans. This supports the requirement for biomarker-based specific diagnostic kits for timely disease predictions and treatments.

The COVID-19 pandemic created barriers and challenges in the global animal health industry that include decreased marketing & sales activities, low veterinary clinic admission, cancellation of routine pet check-ups, and a low number of disease diagnostic tests performed in veterinary hospitals. However, governments and veterinary organizations of various countries implemented strategies and safety measures to resume veterinary practices and research during the pandemic. According to the American Veterinary Medical Association, telemedicine services were widely incorporated in veterinary clinics and hospitals to curb the impact of lockdowns. Furthermore, the pet parents were given digital training to use certain diagnostic kits.

The increasing animal care expenditure in both developing and developed economies is a significant opportunity for market growth. According to the American Kennel Club (AKC), pet owners in the U.S. were spending more money on their pet’s wellness and related healthcare products. The American Pet Products Association reported that the overall pet industry sale exceeded USD 140 billion by the end of 2022. In addition, the research and development activity in the upcoming fields, such as biomarkers in the veterinary, has been significantly growing over the last decade. These factors are expected to boost the growth of the market.

 Request a free sample copy or view report summary: Veterinary Biomarkers Market Report

Veterinary Biomarkers Market Report Highlights

• The veterinary biomarkers industry was estimated to be USD 797.3 million in 2022 and is expected to have lucrative growth at a CAGR of 12.61% over the forecast period

• The companion animals segment is anticipated to dominate with the highest market share based on animal type during the forecast period. This is owing to the growing adoption rates of dogs and cats in global households coupled with the significant prevalence of diseases and accurate diagnostic requirements among them

• Based on the product type, the biomarkers, kits & reagents segment has dominated the market in 2022 with a significant share. This is owing to the growing emergence of post-genomic technologies such as transcriptomics, proteomics, and metabolomics which rises the identification of numerous specific biomarkers for novel point-of-care test kit developments

• Based on the application, the disease diagnostics segment has dominated the market in 2022 with the highest share. This is owing to the increasing number of biomarker-based diagnostic test kits launched by key players coupled with the enhanced usage of such kits in veterinary clinics and hospitals

• The inflammatory & infectious diseases segment held the largest share of about 35% of the market in 2022 by disease type. This is owing to the high prevalence of inflammatory and infectious diseases among companion and production animals, coupled with a significant number of protein indicators identified for the diseases

• By region, North America has dominated the market with a share of over 35% in 2022, while the Asia Pacific market is anticipated to grow the fastest in the coming years. The economic, social, and technological advancements in the North American region are boosting the development of veterinary care in its countries

• The market is emerging with the presence of major animal health key players such as Merck & Co., Inc.; Zoetis; Virbac; and IDEXX Laboratories, Inc., among others. The implementation of strategic initiatives by companies, such as acquisitions, collaborations, partnerships, and product launches are, greatly contributing to the growth of the market 

Veterinary Biomarkers Market Segmentation

Grand View Research has segmented the global veterinary biomarkers market based on animal type, product type, application, disease type, and region:

Veterinary Biomarkers Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

• Companion Animals

  • Dogs

  • Cats

  • Others

• Production Animals

  • Cows

  • Pigs

  • Others

Veterinary Biomarkers Product Type Outlook (Revenue, USD Million, 2018 - 2030)

• Biomarkers, Kits & Reagents

• Biomarker Readers

Veterinary Biomarkers Application Outlook (Revenue, USD Million, 2018 - 2030)

• Disease Diagnostics

• Preclinical Research

• Others

Veterinary Biomarkers Disease Type Outlook (Revenue, USD Million, 2018 - 2030)

• Inflammatory & Infectious Diseases

• Cardiovascular Diseases

• Skeletal Muscle Diseases

• Tumor

• Others

Veterinary Biomarkers Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• MEA

  • South Africa

  • Saudi Arabia

List of Key Players in the Veterinary Biomarkers Market

• Zoetis

• Virbac

• Life Diagnostics

• ACUVET BIOTECH

• Merck & Co., Inc.

• IDEXX Laboratories, Inc.

• MI:RNA Diagnostics Ltd.

• Mercodia AB

• Antech Diagnostics, Inc.

• Avacta Animal Health Limited