The study involved four major activities in estimating the current size of the veterinary diagnostic market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering microfluidics and information from various trade, business, and professional associations. The secondary data was collected and analyzed to arrive at the overall size of the Veterinary Diagnostic Market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the Veterinary Diagnostic Market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from microfluidics manufacturers; distributors; and key opinion leaders.
Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side customers/end users who are using microfluidics were interviewed to understand the buyer’s perspective on the suppliers, products, and their current usage of veterinary diagnostics and the future outlook of their business, which will affect the overall market.
Breakdown of Primary Interviews : Supply-Side Participants, By Company Type, Designation, and Region

Note 1: C-level primaries include CEOs, COOs, CTOs, and VPs.
Note 2: Other primaries include sales managers, marketing managers, and product managers.
Note 3: Companies are classified into tiers based on their total revenue. As of 2020: Tier 1=>USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, Tier 3=<USD 500 million.
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Market Size Estimation
The research methodology used to estimate the size of the veterinary diagnostic market includes the following details.
The market sizing of the market was undertaken from the global side.
Country-level Analysis: The size of the veterinary diagnostic market was obtained from the annual presentations of leading players and secondary data available in the public domain. The share of products and services in the overall veterinary diagnostic market was obtained from secondary data and validated by primary participants to arrive at the total veterinary diagnostic market. Primary participants further validated the numbers.
Geographic market assessment (by region & country): The geographic assessment was done using the following approaches:
Approach 1: Geographic revenue contributions/splits of leading players in the market (wherever available) and respective growth trends
Approach 2: Geographic adoption trends for individual product segments by end users and growth prospects for each of the segments (assumptions and indicative estimates validated from primary interviews)
At each point, the assumptions and approaches were validated through industry experts contacted during primary research. Considering the limitations of data available from secondary research, revenue estimates for individual companies (for the overall Veterinary Diagnostic Market and geographic market assessment) were ascertained based on a detailed analysis of their respective product offerings, geographic reach/strength (direct or through distributors or suppliers), and the shares of the leading players in a particular region or country.
Global Veterinary Diagnostic Market Size: Top-Down Approach

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Global Veterinary Diagnostic Market Size: Bottom-Up Approach

Data Triangulation
After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Veterinary diagnostics refers to the diagnosis of animal diseases and disorders using various veterinary diagnostic test kits, tools, and instruments such as clinical chemistry analyzers, hematology analyzers, glucose monitoring systems, urine analyzers, blood gas-electrolyte analyzers, and ELISA test kits.
Instruments used for veterinary diagnostics are analyzers such as Idexx Catalyst One, VetTest Chemistry Analyser, Heska Element DC Chemistry Analyser, Element POC Blood Gas & Electrolyte Analyser, Randox Laboratories RX Monza Veterinary Immunoassay Analyzer, etc. And consumables are used to run the test more efficiently such as controls, reagents, clips, cartridges, test strips, etc. Certain examples of the consumables used in the diagnosis of various diseases include Thermofisher VetMAX African Swine Fever Detection Kit, PrioCHECK FMDV Type A Antibody ELISA Kit, Bovine Viral Diarrhea PCR Detection Kit, Anti-Rabies Nucleocapsid Conjugate, etc. Veterinary diagnostic tests are mainly ordered by the veterinarian to identify parasites, bacteria, viruses, and other disease-causing microbes in companion animals or livestock. Improvements in consumables enable precise detection despite limitations observed by other tests. For instance, a diagnostic test using a new improved fecal detection test kit by Idexx laboratories eliminates the limitations of egg shedding identification and reduces false positive cases in the diagnosis of hookworm antigens in the companion animal intestine. Thus, veterinary diagnostic tests are ordered for all kinds of ailments to enable effective detection and help in treatment planning and decision making by the veterinarian and the companion animal owner.
Key Stakeholders
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Senior Management
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Lab Technicians/Veterinary Doctors
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Finance/Procurement Department
Report Objectives
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To define, describe, and forecast the veterinary diagnostic market by product, technology, animal type, distribution channel, application, end user, and region.
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To provide detailed information about the key factors influencing the market growth, such as drivers, restraints, opportunities, challenges, and industry trends
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To strategically analyze the regulatory scenario, Porter’s five force analysis, value chain analysis, supply chain analysis, ecosystem map, recession impact, and patent analysis
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To analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall veterinary diagnostic market
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To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
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To strategically profile the key players in this market and comprehensively analyze their market shares and core competencies
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To strategically analyze the veterinary diagnostic market in five regions: North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
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To track and analyze competitive developments such as acquisitions, product launches, partnerships, and expansions in the veterinary diagnostic market
Available customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Geographic Analysis
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Further breakdown of the Rest of Europe Veterinary Diagnostic Market into the Netherlands, Austria, Belgium, and others
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Further breakdown of the Rest of Asia Pacific Veterinary Diagnostic Market into Singapore, Malaysia, and others
Company Information
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Detailed analysis and profiling of additional market players
John
Jun, 2022
Which is the leading segment dominating the Veterinary Diagnostics Market?.
Jeremy
Jun, 2022
Can you give some more information on the key factors impacting the Veterinary Diagnostics Market?.
John
Jun, 2022
Which are the latest trends to focus for revenue expansion in Veterinary Diagnostics Market?.