As MacGyvers indicated, test equipment does exist, but it isn't cheap by any means.
Recently we used a Fluke scopemeter, the Fluke-125 which has some capability of analyzing the physical signals and telling you if they are within spec, what the data rate, jitter, the common mode voltage, etc in addition to having the capability of looking at the waveforms.
Also, a lot of oscilloscopes, especially the modern computer based ones have add on packages, presumably a combination of hardware and software, specifically geared towards communication bus monitoring and analysis.
I appologize for not having more specific recommendations, but I haven't used anything of this sort. From when I was looking for a tool that can analyze RS-485 lines and came upon the Fluke-125 I discovered that there appear to be a lot of products out there geared towards TCP/IP testing so a search should bear some easy fruit. You might want to take a look at BlackBox as I think they had a lot of testers of this nature.