Animal Therapeutics and Diagnostics Market By Product Type, By Animal Type : Global Opportunity Analysis and Industry Forecast, 2020-2030

Animal Therapeutics and Diagnostics Market By Product Type (Animal Diagnostics Products, Animal Therapeutics Products), By Animal Type (Companion Animals, Cattle, Pigs, Poultry, Sheep): Global Opportunity Analysis and Industry Forecast, 2020-2030

The global animal therapeutics and diagnostics market was valued at $33,462.5 million in 2020, and is projected to reach $59,082.1 million by 2030, registering a CAGR of 5.9% from 2021 to 2030. Animal therapeutics includes a variety of therapeutic items that may be used to treat many diseases. Various tests and techniques are utilized in the diagnosis of any diseases in animals. Both animal diagnostics and animal therapies are critical for illness treatment. The sustainability of animal health becomes increasingly important as human dependency on animals for daily necessities such as meat, protein, and milk grows. Diseases are diagnosed using a variety of diagnostic tests and devices, whereas therapy solutions are administered using medications based on their mechanism of action. Majority of the diagnostic tests and treatment products are required by veterinary clinics.
The market is predicted to grow at a moderate rate throughout the forecast period, owing to increase in knowledge about animal health in livestock and pet animals as well as surge in adoption of companion animals around the world. In addition, rise in meat & milk consumption and alarming increase in prevalence of zoonotic illnesses significantly contribute toward the market expansion. However, high costs of diagnosis and therapeutic treatments and overuse of drugs in animals can have a severe impact on public and animal health, thus hindering the market growth. Furthermore, lack of understanding about animal welfare among pet owners can stifle the growth of the animal diagnostics and therapeutics industry.
Key players in animal therapeutics and diagnostics are launching various test kits and diagnostics kits to monitor animals’ behavior and health. For instance, in October 2021, Zoetis Inc., manufacturer of animal medicines and vaccines, launched digital cytology testing to its Vetscan Imagyst product. In addition to AI technology for fecal testing, Vetscan Imagyst now provides a network of skilled remote pathologists. Furthermore, in June 2021, Zoetis Inc. expanded its equine orse care products by introducing Restigen, PRP, Pro-Stride APS, and CenTrateBMA. These devices are designed to address injuries in horses that may cause limping. Introduction of such products is a key factor fostering the market growth.
The market is segmented into product type, animal type industry, and region. Depending on product type, the market is classified into animal diagnostics products and animal therapeutics products. By animal type, it is classified as companion animals, cattle, pigs, poultry, and sheep. Region wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
 
COMPETITION ANALYSIS
The key players operating in the global animal therapeutics and diagnostics are Zoetis Inc., Elanco Animal Health Incorporated, Boehringer Ingelheim International GmbH, Virbac, Idexx Laboratories Inc., Ceva Sante Animale, Sanofi S.A., Heska Corporation, Thermo Fisher Scientific Inc., and Randox Laboratories Ltd.
 

Key Benefits For Stakeholders
?The report provides an extensive analysis of the current and emerging animal therapeutics and diagnostics market trends and dynamics. 
?In-depth animal therapeutics and diagnostics market analysis is conducted by constructing market estimations for key market segments between 2021 and 2030.
?The global animal therapeutics and diagnostics market share analysis from 2020 to 2030 is included in the report.
?Extensive analysis of the animal therapeutics and diagnostics market size is conducted by following key product positioning and monitoring of top competitors within the market framework.
?A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
?The global animal therapeutics and diagnostics market forecast analysis from 2021 to 2030 is included in the report.
?The key players which contributed to the animal therapeutics and diagnostics market growth are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the animal therapeutics and diagnostics industry.

Key Market Segments

By Product Type
? Animal Diagnostics Products
? Animal Therapeutics Products

By Animal Type
? Companion Animals
? Cattle
? Pigs
? Poultry
? Sheep

By Region
? North America
? U.S.
? Canada
? Mexico
? Europe
? Germany
? France
? U.K.
? Italy
? Rest of Europe
? Asia-Pacific
? China
? India
? Japan
? South Korea
? Rest of Asia-Pacific
? LAMEA
? Latin America
? Middle East
? Africa
? Key Market Players
? Bayer AG
? Eli Lilly and Company
? Boehringer
? Ingelheim GmbH
? Merck and Co.
? Zoetis Inc.
? Ceva Sante Animale
? Sanofi S.A.
? Nutreco N.V.
? Virbac S.A.