TMR: Equine diagnostics to approach $300M
by Katie Pfaff
The market for equine diagnostics is expected to reach a value of $280 million by 2030, according to a report by Transparency Market Research, a market analysis company. The market includes blood, DNA, and pathogen testing.
The growth in the market is based on the expectation that demand will continue to increase for services for comprehensive testing and technologies providing specialized testing. Adding to the uptick, there has been an increase in the number of veterinarians specializing in equine diagnostic testing. Genetic testing for equine diagnostics has also become more common leading to lower overall costs for such testing, and potential revenue in the sector.
At the same time, the adoption of imaging for the entire equine body would increase diagnostic testing further. That level of diagnostics represents a large revenue potential. While knowledge of animal diseases has increased in recent years, there continues to be little knowledge overall of infectious diseases in equines.
By geography, the North American market is expected to have the greatest revenue
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