According to FutureWise analysis the market for veterinary immunodiagnostics in 2023 is US$ 1.57 billion, and is expected to reach US$ 3.24 billion by 2031 at a CAGR of 9.50%.
Increased demand for food products derived from animals, growing livestock and companion animal population, increased disposable income for expenditure on animal healthcare are some of the primary factors contributing to the growth of the market. Furthermore, increased acceptance of animals in developed countries like the United States, growing favourable policies for the usage of better diagnostic products in animals are some other factors positively affecting the veterinary immunodiagnostics market growth.