As per this study the Global Companion Animal Diagnostic Market was valued USD 6.5 BN (by revenue) in 2022 and is anticipated to reach USD 14.45 BN by 2030 with a CAGR of 10.5%.
Companion animal diagnosis refers to the examination of the medical condition of the companion animals or pet such as cats, dogs, horses, and others. It includes various veterinary tools for diagnosis, monitoring of any medical condition and also a response to the therapy or treatment. It encompasses blood test, urinalysis, fecal examination, pet ultrasound, ECG, blood pressure monitoring, and various other microscopic examinations.
Market Dynamics
The growing prevalence of zoonotic diseases among pets resulting in high demand animal health diagnosis. Growing pet population followed by rising in pet adoption is further boosting the market growth. Increasing focus towards regular health monitoring and preventive care to protect the pet from diseases is further pushing the market growth. Growing adoption o in-vitro diagnostics devices, imaging systems, and point-of-care diagnostics by the veterinarian to offer better pet care are again contributing immensely to the market growth. In spite of this, the high cost of the animal tests may hinder the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of companion animal diagnostic.
Market Segmentation
The broad companion animal diagnostic market has been sub-grouped into companion animal and technology. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Technology
- Immunodiagnostics (ELISA, Lateral Flow Assays, Immunoassay Analyzers, Other)
- Clinical Biochemistry (Glucose Monitoring, Blood Gas & Electrolyte Analysis, Other)
- Hematology
- Molecular Diagnostics (PCR, Microarrays, Others)
- Urinalysis
- Others
By Animal
By Product
By Application
- Bacteriology
- Parasitology
- Pathology
- Others
By End-use
- Veterinary Clinics
- Veterinary Hospitals
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for companion animal diagnostic in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Companion Animal Diagnostic Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the Companion Animal Diagnostic market include Thermo Fischer Scientific Inc., Heska Corporation, Zoetis, IDEXX Laboratories, Virbac, Qiagen, and Neogen Corporation, among Others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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