The market is estimated to grow at a CAGR of 4. 3% during 2020–2027. The growth of the North America companion animal diagnosticsmarketis primarily attributed to therising prevalence of chronic diseases in pet animals and increasing adoption of pet animals in North America.
New York, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Companion Animal Diagnostics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology, Application, Animal Type, End-User, and Country" - https://www.reportlinker.com/p05974392/?utm_source=GNW
Increasing pet care cost is the major factor restraining the growth of the market.
However, the demandfor advanced technologies to improve disease diagnosisand escalating number of product launches are likely to fuel the growth of the North America companion animal diagnosticsmarketduring the forecast period.
The companion animal diagnostics products deal with the epidemiology and pathogenesis of the domestic animal and prevent further complications related to the heath of pet as well as the owner. These products are normally used for the animals such as cats, dogs, and horses.
Similar to humans, animals too suffer from chronic diseases.Arthritis and other orthopedic conditions, chronic kidney disease, cancer, hepatitis and other liver diseases, skin allergies, diabetes mellitus, inflammatory bowel disease, and thyroid disorders are among the common chronic diseases in pets.
Cancer is widespread in animals and affects pet as well as wild animals.Animals have been diagnosed with various types of cancer till date, which have symptoms similar to humans, including unexplained weight loss, abnormal swelling, and lethargy.
As per the veterinary cancer society, cancer is a leading cause of death in 47% of dogs, especially in dogs with >10 years of age, and 32% of cats.Furthermore, as per the Pet Cancer Facts and Figures, one in four dogs and one in five cats develop cancer in their lifetime.
Similarly, according to the association for pet obesity prevention (APOP), in 2018, ~55.8% of dogs and 59.5% of cats in the US were overweight or obese.
According to the Arthritis Foundation, ~20% of all adult dogs suffer from arthritis. Such growing prevalence of chronic diseases have become a significant factor, raising the demand for animal health, and this has triggered companies to produce advanced pharmaceuticals and vaccines to help animal owners or other stakeholders to maintain the overall health of animals.
The incidence of COVID-19 has not yet been registered for the animals.Also, there is no evidence that companion animals are the prime source of the spreading epidemic in humans.
However, various studies have been conducted to check the spread of disease from animals to humans.In several cases, zoonotic diseases were found in humans due to interaction with animals.
Therefore, government bodies are taking precautions and safety measures to prevent the spread of COVID-19 in the animals. The measures are widely carried out for companion animals as they frequently come in contact with their owners.
The immunodiagnostics segment accounted for the largest market share of the North America companion animal diagnostics market in 2019.The growth of the market for this segment is attributed to the growing number of immunoassay applications in veterinary science, including the detection of a wide range of diseases.
Also, the adoption of generic products by veterinarians for companion animals is adding to the specificity and sensitivity of the diagnostic tests such as ELISA, allergen-specific immunodiagnostic tests, and immunoassays, further propelling the growth of the market for immunodiagnostics during the forecast period.
World Health Organization (WHO), association for pet obesity prevention (APOP), Animal Health Institute (AHI), American Pet Products Association (APPA), and the American Veterinary Medical Association (AVMA) are among the significant secondary sources associated with the North America Companion Animal Diagnostics market report.
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