What is the global market size of the Livestock Diagnostics Market?

Global Livestock Diagnostics Market size was valued at USD 2.72 billion in 2021 and is poised to grow from USD 2.98 billion in 2022 to USD 6.25 billion by 2030, growing at a CAGR of 9.68% in the forecast period (2023-2030).

Livestock Diagnostics Market Worldwide

Livestock Diagnostics Market Regional Insights

North America is estimated to account for the largest share of the global livestock diagnostics market during the forecast period. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The large number of livestock animals, rising rates of various zoonotic diseases, rising public awareness of animal health, and rising income levels are expected to drive this market's expansion. The region's veterinary healthcare expenditures have significantly increased, which is anticipated to accelerate market expansion.In addition, the growth potential in this region is anticipated to be increased by the presence of healthcare programs and the rise in initiatives to promote animal health .The North American Pet Health Insurance Association, for instance, aims to raise public awareness of pet health insurance coverage.

It is anticipated that the expansion of the market throughout North America will also be aided by the efficient measures taken by animal welfare organizations in the event of an emergency or sudden disease outbreak.During the forecast period, the Asia-Pacific regional market is anticipated to grow at the fastest rate.The regional market's expansion is anticipated to be aided by a number of key factors, including the rise in middle-class households, increased disposable income, pet animal acceptance, and the high demand for animal proteins.

FAQs

Global Livestock Diagnostics Market size was valued at USD 1.4 billion in 2023 and is poised to grow from USD 1.52 billion in 2024 to USD 2.94 billion by 2032, growing at a CAGR of 8.6% during the forecast period (2025-2032).

IDEXX Laboratories, Heska Corporation, Neogen, Zoetis, Thermo Fisher Scientific, Boehringer Ingelheim International GmbH, and Virbac are among the major players in the market.These prominent players concentrate on expanding the industry through strategic partnerships, the introduction of new products, and their commercialization.In addition, these leaders are making significant investments in research in order to launch cutting-edge products and maximize revenue. 'IDEXX Laboratories Inc. (US) ', 'Neogen Corporation (US) ', 'Zoetis Inc. (US) ', 'Thermo Fisher Scientific Inc. (US) ', 'Virbac SA (France) ', 'IDvet (France) ', 'Bio-Rad Laboratories, Inc. (US) ', 'GD Animal Health (Netherlands) ', 'Agrolabo Spa (Italy) ', 'BioMerieux SA (France) ', 'Boehringer Ingelheim Vetmedica, Inc. (Germany) ', 'Randox Laboratories Ltd. (UK) ', 'ABAXIS, Inc. (US) ', 'Anigenics Inc. (US) ', 'Bionote, Inc. (South Korea) ', 'Eurofins Scientific SE (Luxembourg) ', 'VCA Inc. (US) ', 'Agriprotein (South Africa)'

The primary driving force behind the expansion of the livestock diagnostics market is the rising demand for livestock-derived food products and the rising prevalence of various food-borne and zoonotic diseases. Positive government initiatives and technological advancements in veterinary diagnostics, on the other hand, are anticipated to further dampen market expansion. Within the aforementioned forecast period, it is also anticipated that the demand for early animal disease diagnosis and prevention will accelerate the market's expansion.

Tests have been conducted by authorities in animal health to learn how the virus affects animals.Until now, studies have demonstrated that felines are more prone to infection than other animals.Additionally, testing demonstrates that the virus spreads less between animals than between humans or humans and animals.