The veterinary biomarkers market size is estimated to be USD 779.5 million in 2022 and is expected to witness a CAGR of 12.82% during the forecast period 2023-2033. R&D initiatives taken by major companies to improve their biomarker portfolios, increasing pet adoption rates and the expanding population of companion animals are some of the factors contributing to the market growth. Additionally, Higher animal healthcare spending and rising prevalence of chronic diseases in animals, such as cancer and cardiovascular diseases is expected to propel the market growth. However, lack of awareness regarding pet care is expected to hinder the growth.

Expanding population of companion animals is expected to propel the market growth during the forecast period. For instance, the American Veterinary Medical Association announced in November 2021 that the population of companion animals had expanded considerably between 2016 and 2020. According to the report, the number of dogs in the United States was predicted to be 76.8 million in 2016 and 83.7 million in 2020. Similar to dogs, there were 60 million cats by 2020, up from 58.4 million in 2016. This is anticipated to stimulate market expansion.

Higher animal healthcare spending is predicted to fuel the market growth during the projected period. For instance, pet care costs increased from USD 53.3 in 2012 to USD 123.6 in 2021, according to the Insurance Information Institute, Inc. Out of which, around USD 1,480 USD and USD 943 USD are spent annually per dog and cat, respectively. Similarly, according to FEDIAF, across Europe, pet-related products and services would cost 21.2 billion in 2020, while pet food cost close to 21.8 billion.

Segmentation

By Animal Type

The market is categorized into production animals and companion animals. In the global market, the companion animals segment accounted for the largest revenue share in 2022 owing to the considerable disease incidence rates that were observed in dogs and the increasing adoption rates for dogs. In 2020, 45% of American households had dogs, according to the American Veterinary Medical Association. Similar to this, the European Pet Food Industry reported that 88 million households in the region have pets, with 110 million cats and 90 million dogs expected to live there by 2020. The production animal sector accounted for a sizeable portion of the market for veterinary biomarkers in 2022 due to the rising population of livestock and production animals in emerging nations such as China, India, and Japan. For instance, the number of cattle in India increased from 185 million in 2003 to 193 million in 2019, according to the National Dairy Development Board. Comparably, there were 283 million cattle worldwide in 2003. By 2019, there were 302 million. Additionally, the rising incidence of serious infectious diseases such as tuberculosis in animals used for production poses a significant threat to the expansion of many diagnostic techniques.

By Product Type

The market is divided into biomarker readers and biomarkers, kits & reagents. In 2022, the biomarkers, kits & reagents segment accounted for the highest revenue share due to widespread availability of popular brands of biomarkers and test kits introduced by influential market participants. To understand the disorder’s course and to offer targeted treatments that specifically target the disease’s biological indicator, veterinarians choose sensitive and accurate disease diagnostic techniques using biomarker test kits. Additionally, the market for veterinary biomarkers has been expanding in recent years due to the rising awareness of biomarker application in the field of veterinary medicine in emerging nations. The biomarker readers segment is anticipated to register a considerable revenue share over the course of the projected year due to the increasing rate of diagnosis in veterinary offices. The major players have introduced specific veterinary biomarker readers as human biomarker readers are not precise and calibrated for animal readings. For instance, Virbac introduced Speed Reader, a user-friendly and portable laser-based fluorescence reader that precisely analyses the biomarker concentration in animal serum or plasma samples.

By Application

The market is segregated into preclinical research, disease diagnostics, and others. In the global market, the disease diagnostics segment accounted for the largest revenue share in 2022 owing to rise of veterinary admissions for disease detection in both developed and developing nations. Another factor boosting the segment’s growth is the growing number of veterinary clinics and hospitals with qualified veterinarians. For instance, the Federation of Veterinarians of Europe estimates that there were around 263 million veterinarians in Europe in 2019. Preclinical research segment accounted for a significant share of the market in 2022 and is predicted to grow at the fastest rate throughout the forecast period. This is a result of the expansion of post-genomic technologies and veterinary biomarker research and development. The prospect for segment expansion is being further increased by the cutting-edge techniques adopted by key players in the animal health industry to identify novel biomarkers or disease indicators. For instance, Boehringer Ingelheim declared in April 2022 that the company encourages a collaboration aimed at creating novel cancer therapy concepts using a particular biomarker-based strategy.

By Disease Type

The market is segmented into cardiovascular diseases, tumor, inflammatory & infectious diseases, skeletal muscle diseases, and others. In 2022, the inflammatory & infectious diseases segment accounted for the largest revenue share owing to both companion and production animals are highly prone to numerous infectious diseases. In several nations, different diagnostic approaches have been developed in response to the government’s aim to stop the spread of zoonotic diseases from animals to people. As a result, the market for veterinary biomarkers is expanding as more diagnostic kits based on biomarkers are used in these types of procedures. Animals frequently suffer from other disease kinds, such as cancer and cardiovascular conditions, which require more attention for an accurate diagnosis. The majority of these diseases are frequently asymptomatic and are often neglected until they progress to severe stages. For instance, according to the University of Kentucky in the United Kingdom, the majority of cattle with cancer show no symptoms, making it difficult to administer early treatment, which results in 5-20% of cases of sudden death.

Regional Markets

In 2022, North America region accounted for the highest revenue in the veterinary biomarkers market and is expected to maintain its dominance during the forecast period. This is attributed to the substantial presence of major players, implementation of various strategies formed by key companies to expand market penetration, soaring research activities, increasing diagnostic rates, growing animal population, and surging veterinary care costs. In 2022, the Europe region had the second-largest revenue share. This is due to the existence of significant key players in European nations, including Virbac, ACUVET BIOTECH, and others. The Asia Pacific region is predicted to have rapid growth over the next few years. The market for veterinary biomarkers is expanding as a result of the rising need for accurate and quick diagnoses of many diseases and pet humanization in nations such as India.

Competitor Insights

Some of the key players operating in the veterinary biomarkers market are Life Diagnostics, IDEXX Laboratories, Inc., Virbac, MI: RNA Diagnostics Ltd., ACUVET BIOTECH, Mercodia AB, Merck & Co., Inc., Antech Diagnostics, Inc., Zoetis, and Avacta Animal Health Limited.

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

• For instance, Zoetis launched a new manufacturing plant in Ireland in October 2021. This improved its capability to produce monoclonal antibodies. Similar to this, the producers are introducing cutting-edge biomarker-based products to strengthen their dominance over the market.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including animal type, product type, application, and disease type from 2023 to 2033.

Report Scope:

Segmentation: Veterinary Biomarkers Market Report 2022 – 2033

Animal Type (Revenue, USD Million), 2022 – 2033

• Production Animals
  • Pigs
  • Cows
  • Others
• Companion Animals
  • Cats
  • Dogs
  • Others

Product Type (Revenue, USD Million), 2022 – 2033

• Biomarker Readers
• Biomarkers, Kits & Reagents

Application (Revenue, USD Million), 2022 – 2033

• Preclinical Research
• Disease Diagnostics
• Others

Disease Type (Revenue, USD Million), 2022 – 2033

• Cardiovascular Diseases
• Tumor
• Inflammatory & Infectious Diseases
• Skeletal Muscle Diseases
• Others

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA