The global companion animal diagnostics market was valued at $2,989.8 million in 2021, and is projected to reach $6,884.67 million by 2031, registering a CAGR of 8.6% from 2022 to 2031.
Companion animal diagnostics is a diagnostic method that is used to identify a chronic disease in companion animals at the molecular level. Companion animal diagnosis is considered to be the best method to identify & characterize various chronic diseases in animals. For the detection of diseases, several diagnostics method are used such as molecular diagnostic, immunodiagnostic, Clinical biochemistry, uranalysis and among others.
The key factors that drive the growth of the market are an increase in animal healthcare expenditure, rise in pet adoption, and an increase in the prevalence of chronic diseases such as zoonotic disease cancer, gastrointestinal disease, and others. For instance, according to a report published by the Center for Disease Control and Prevention, zoonotic diseases are very common, both in the United States and around the world and it was estimated that about 6 out of every 10 animal is affected by a zoonotic disease. Furthermore, the rise in awareness associated with animal healthcare, and the rise in the adoption of rapid tests and portable instruments for point-of-care diagnostics are the key factors that provide lucrative opportunities for key industry players. However, the lack of skilled veterinary professionals and animal health awareness hinders the growth of the market in upcoming years.
The companion animal diagnostics market is segmented on the basis of technology, application, animal type, end-use, and region. By technology, the market is segmented into clinical biochemistry, immunodiagnostics, hematology, molecular diagnostics, urinalysis, and others. The basis of clinical biochemistry is further sub-segmented into clinical chemistry analyzers, blood gas & electrolyte analysis, and glucose monitoring. Immunodiagnostics is sub-segmented into ELISA, lateral flow assay, immunoassay analyzer, and other (rapid test, western blot tests, immunohistochemistry, allergen-specific immunodiagnostic tests diagnostics). Hematology is further bifurcated into hematology cartridges and hematology analyzers. Molecular diagnostics is sub-segmented into PCR, microarray, and others. Urinalysis is sub-segmented into urinalysis clips & cartridges/panels, urine analyzers, and urine test strips. And on the basis of others, the technology market for companion animal diagnostics is bifurcated into microbiology tests and histopathology tests. On the basis of application, the market is segmented into bacteriology, clinical pathology, virology, parasitology, and others. On the basis of animal type, the market is bifurcated into dogs, cats, and others. By end use, the market is segmented into diagnostics laboratories, veterinary healthcare and clinics, research institute, and point of care. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America accounted for the largest market share in 2021 and is anticipated to remain dominant during the forecast period. Owing to rise in the adoption of pets in North America and the rise in the prevalence of various chronic diseases among animals drive the growth of the companion animal diagnostics market. Asia-Pacific is anticipated to witness lucrative growth, owing to a surge in the companion animal population, growing demand for diagnostics services from the livestock industry, and rise in companion animal health expenditure among emerging countries across APAC is expected to offer significant growth for the market
The key players that operate in the companion animal diagnostics market are Agrolabo SpA, Biomerieux SA, BioNote Inc. Creative Diagnostics, Fujifilm Holdings Corporation, Heska Corporation, HyTest Ltd., Idexx Laboratories Inc., IDvet, Indical Bioscience Gmbh, Neogen Corporation, Randox Laboratories Ltd., Shenzhen Mindray Animal Medical Technology Co. Ltd, Thermofisher Scientifc Inc., Triviumvet, Virbac and Zoetis Inc.
Companion animal diagnostics is a diagnostic method that is used to identify a chronic disease in companion animals at the molecular level. Companion animal diagnosis is considered to be the best method to identify & characterize various chronic diseases in animals. For the detection of diseases, several diagnostics method are used such as molecular diagnostic, immunodiagnostic, Clinical biochemistry, uranalysis and among others.
The key factors that drive the growth of the market are an increase in animal healthcare expenditure, rise in pet adoption, and an increase in the prevalence of chronic diseases such as zoonotic disease cancer, gastrointestinal disease, and others. For instance, according to a report published by the Center for Disease Control and Prevention, zoonotic diseases are very common, both in the United States and around the world and it was estimated that about 6 out of every 10 animal is affected by a zoonotic disease. Furthermore, the rise in awareness associated with animal healthcare, and the rise in the adoption of rapid tests and portable instruments for point-of-care diagnostics are the key factors that provide lucrative opportunities for key industry players. However, the lack of skilled veterinary professionals and animal health awareness hinders the growth of the market in upcoming years.
The companion animal diagnostics market is segmented on the basis of technology, application, animal type, end-use, and region. By technology, the market is segmented into clinical biochemistry, immunodiagnostics, hematology, molecular diagnostics, urinalysis, and others. The basis of clinical biochemistry is further sub-segmented into clinical chemistry analyzers, blood gas & electrolyte analysis, and glucose monitoring. Immunodiagnostics is sub-segmented into ELISA, lateral flow assay, immunoassay analyzer, and other (rapid test, western blot tests, immunohistochemistry, allergen-specific immunodiagnostic tests diagnostics). Hematology is further bifurcated into hematology cartridges and hematology analyzers. Molecular diagnostics is sub-segmented into PCR, microarray, and others. Urinalysis is sub-segmented into urinalysis clips & cartridges/panels, urine analyzers, and urine test strips. And on the basis of others, the technology market for companion animal diagnostics is bifurcated into microbiology tests and histopathology tests. On the basis of application, the market is segmented into bacteriology, clinical pathology, virology, parasitology, and others. On the basis of animal type, the market is bifurcated into dogs, cats, and others. By end use, the market is segmented into diagnostics laboratories, veterinary healthcare and clinics, research institute, and point of care. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America accounted for the largest market share in 2021 and is anticipated to remain dominant during the forecast period. Owing to rise in the adoption of pets in North America and the rise in the prevalence of various chronic diseases among animals drive the growth of the companion animal diagnostics market. Asia-Pacific is anticipated to witness lucrative growth, owing to a surge in the companion animal population, growing demand for diagnostics services from the livestock industry, and rise in companion animal health expenditure among emerging countries across APAC is expected to offer significant growth for the market
The key players that operate in the companion animal diagnostics market are Agrolabo SpA, Biomerieux SA, BioNote Inc. Creative Diagnostics, Fujifilm Holdings Corporation, Heska Corporation, HyTest Ltd., Idexx Laboratories Inc., IDvet, Indical Bioscience Gmbh, Neogen Corporation, Randox Laboratories Ltd., Shenzhen Mindray Animal Medical Technology Co. Ltd, Thermofisher Scientifc Inc., Triviumvet, Virbac and Zoetis Inc.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the companion animal diagnostics market analysis from 2021 to 2031 to identify the prevailing companion animal diagnostics market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the companion animal diagnostics market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global companion animal diagnostics market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology
- Clinical Biochemistry
- Clinical Chemistry Analyzer
- Blood Glucose Monitoring
- Blood Gas Electrolyte Analysis
- Immunodiagnostics
- ELISA
- Lateral Flow Assay
- Immunoassay Analyzers
- Others
- Hematology
- Hematology Cartridges
- Hematology Analyzers
- Molecular Diagnostics
- PCR
- Microarrays
- Others
- Urinalysis
- Urinalysis clips cartridges/panels
- Urine Analyzer
- Urine Test Strips
- Others
By Application
- Clinical Pathology
- Bacteriology
- Virology
- Parasitology
- Other Applications
By Animal Type
- Dogs
- Cats
- Others
By End User
- Diagnostic Labs
- Point-Of-Care and In-House Testing
- Research Institutes and Universities
- Veterinary Hospitals and Clinics
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Virbac
- Thermo Fisher Scientific, Inc
- Zoetis, Inc
- agrolabo spa
- Biomerieux SA
- BioNote Inc
- Creative Diagnostics
- Fujifilm Holdings Corporation
- Heska Corporation
- HyTest Ltd
- Idexx Laboratories Inc
- IDvet
- Indical Bioscience Gmbh
- Neogen Corporation
- Randox Laboratories Ltd
- Shenzhen Mindray Animal Medical Technology Co. Ltd
- Triviumvet
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: COMPANION ANIMAL DIAGNOSTICS MARKET, BY TECHNOLOGY
CHAPTER 5: COMPANION ANIMAL DIAGNOSTICS MARKET, BY APPLICATION
CHAPTER 6: COMPANION ANIMAL DIAGNOSTICS MARKET, BY ANIMAL TYPE
CHAPTER 7: COMPANION ANIMAL DIAGNOSTICS MARKET, BY END USER
CHAPTER 8: COMPANION ANIMAL DIAGNOSTICS MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Companion Animal Diagnostics Market," the Companion Animal Diagnostics Market size was valued at $2.99 billion in 2021, and is estimated to reach $6.88 billion by 2031, growing at a CAGR of 8.6% from 2022 to 2031.Companion animals majorly consist of dogs and cats that are considered part of the family. Companion animal diagnostics are used to analyze various chronic diseases by several diagnostic methods. These diagnostics tests help to perform rapid analysis and provide detailed information that is further utilized in the personalized treatment of various chronic diseases such as cancer. These diagnostics solutions find application in clinical and point-of-care (POC) testing for the early detection of infectious diseases and cancer.
The Companion Animal Diagnostics Market trends are an increase in the prevalence of chronic disease among companion animals, a rise in healthcare expenditure and a rise in the adoption of companion animals across the world drives the growth of the market. However, the lack of skilled veterinary practitioners in developing countries and the rising cost of pet care hinder the growth of the market in the upcoming years. In addition, a rise in awareness of animal health across the world and a surge in demand for rapid tests and portable instruments for point-of-care diagnostics are the key factors anticipated to drive Companion Animal Diagnostics Market growth.
On the basis of technology, the Companion Diagnostics Industry market is segmented into clinical biochemistry, immunodiagnostics, hematology, molecular diagnostics, urinalysis, and others. In 2021, the clinical biochemistry segment accounted for the largest share of the market. Owing to the rise in a number of pet adoptions and the increase in the prevalence of infectious disease animals drives the growth of the market.
On the basis of application, the market is segmented into bacteriology, clinical pathology, virology, parasitology, and others, the clinical pathology segment largest share of the market in 2021, and is anticipated to lead during the forecast period, owing to the rise in the incidence of zoonotic diseases in companion animals and increase in awareness related to animal health across the world are the key factor which propels the growth of the market.
On the basis of animal type the market is bifurcated into dogs, cats, and others, the dog segment exhibited the largest share of the market in 2021, and is anticipated to lead during the forecast period, owing to the increase in the number population of companion animals across the world and rise in the incidence of cancer s in dogs are the factors which provide the growth to the market.
By end use, the market is segmented into diagnostics laboratories, veterinary healthcare, and clinics, research institute, and point of care, the diagnostics labs segment exhibited the largest Companion Animal Diagnostics Market share in 2021 and is anticipated to lead during the forecast period, owing to increase in demand of diagnosis for prevention and proper treatment of disease among animals drives the growth of the market in upcoming years.
North America accounted for the largest share of the market in 2021 and is anticipated to remain dominant during the forecast period. This is attributed due to the presence of major key player operating in the companion animal diagnostic market and the presence of proper healthcare facilities for companion in animals in the U.S. is one of the major factors that drive the growth of the market.
Asia-Pacific is anticipated to witness lucrative growth, owing to a surge in the companion animal population, growing demand for diagnostics services from the livestock industry, and a rise in companion animal health expenditure among emerging countries across APAC are expected to offer significant growth for the market.
The key players that operate in the companion animal diagnostics market are Agrolabo SpA, Biomerieux SA, BioNote Inc. Creative Diagnostics, Fujifilm Holdings Corporation, Heska Corporation, HyTest Ltd., Idexx Laboratories Inc., IDvet, Indical Bioscience Gmbh, Neogen Corporation, Randox Laboratories Ltd., Shenzhen Mindray Animal Medical Technology Co. Ltd, Thermofisher Scientific Inc., Triviumvet, Virbac and Zoetis Inc.
Key Findings of the Study
- By technology, the clinical biochemistry segment was the highest contributor to the market in 2021.
- By application type, the clinical pathology segment was the highest contributor in 2021.
- By animal type, the dogs segment was the highest contributor in 2021.
- By end user, the diagnostics laboratories segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
- By Region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Virbac
- Thermo Fisher Scientific, Inc
- Zoetis, Inc
- Agrolabo Spa
- Biomerieux Sa
- Bionote Inc
- Creative Diagnostics
- Fujifilm Holdings Corporation
- Heska Corporation
- Hytest Ltd
- Idexx Laboratories Inc
- Idvet
- Indical Bioscience GmbH
- Neogen Corporation
- Randox Laboratories Ltd
- Shenzhen Mindray Animal Medical Technology Co. Ltd
- Triviumvet
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 380 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 2989.8 million |
| Forecasted Market Value ( USD | $ 6884.67 million |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
