UK markets open in 4 hours 55 minutes
  • NIKKEI 225

    26,032.06
    +94.85 (+0.37%)
     
  • HANG SENG

    17,195.11
    -27.72 (-0.16%)
     
  • CRUDE OIL

    81.92
    +2.43 (+3.06%)
     
  • GOLD FUTURES

    1,677.50
    +5.50 (+0.33%)
     
  • DOW

    28,725.51
    -500.09 (-1.71%)
     
  • BTC-GBP

    17,236.43
    -158.21 (-0.91%)
     
  • CMC Crypto 200

    437.27
    -6.16 (-1.39%)
     
  • ^IXIC

    10,575.62
    -161.88 (-1.51%)
     
  • ^FTAS

    3,763.48
    +18.37 (+0.49%)
     

The Worldwide Companion Animal Diagnostics Industry is Expected to Reach $4 Billion by 2029

·5-min read
Company Logo
Company Logo

Dublin, Aug. 26, 2022 (GLOBE NEWSWIRE) -- The "Companion Animal Diagnostics Market by Product, Technology, Animal Type, End User - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

The global companion animal diagnostics market is expected to grow at a CAGR of 9.8% from 2022 to 2029 to reach $4.19 billion by 2029.

Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out the key industry drivers, restraints, challenges, and opportunities. The growth in the companion animal diagnostics market is mainly attributed to the increasing prevalence of diseases in companion animals, increasing animal health expenditure & pet insurance in developed countries, and technological advancements in veterinary diagnostics. Moreover, emerging countries provide immense growth opportunities for players operating in the companion animal diagnostics market.

Based on product, the consumables segment is estimated to dominate the companion animal diagnostics market in 2022. Factors include the commercial availability of a diverse range of reagents and consumables for various diseases and animal health screening and the availability of diseases-specific test kits and assays. Moreover, the emergence of various PoC tests and assays is expected to create significant growth opportunities. The consumables segment is further categorized on the basis of disease type. In 2022, the heartworm disease segment is estimated to hold the largest share of the companion animal diagnostic consumables market. The potential risk of transmission of the disease in humans and the increase in pet adoption globally are the factors primarily propelling the segment's growth.

Based on technology, the immunodiagnostics segment is estimated to account for the largest share of the companion animal diagnostics market in 2022. Increasing use of immunoassays in diagnostics, development of novel tests, and reduced complications associated with the instruments are some factors driving the growth of this segment. The immunodiagnostics market is further segmented into ELISA tests and other immunodiagnostic tests. In 2022, the ELISA tests segment held the largest share of the companion animal immunodiagnostics market.

Companion animal diagnostic products are frequently used in reference laboratories for early disease diagnosis and treatment decisions. Therefore, based on end user, the reference laboratories segment is estimated to dominate the companion animal diagnostics market with the largest share in 2022.

Moreover, the growing preference for diagnostic services offered by reference laboratories and the increasing development of products through strategic alliances between laboratories and companies contributed to the largest share of reference laboratories in this market.

An in-depth analysis of the geographical scenario of the companion animal diagnostics market provides detailed qualitative and quantitative insights into the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region.

North America is estimated to account for the largest share of the companion animal diagnostics market in 2022, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The increasing awareness of animal disease diagnosis, rising number of veterinarians, and increased spending on the healthcare of pet animals in the region supported the largest share of North America in the companion animal diagnostics market.

Some of the key players operating in the global companion animal diagnostics market are IDEXX Laboratories, Inc. (U.S.), Zoetis Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Heska Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), bioMerieux S.A. (France), INDICAL BIOSCIENCE GmbH (Germany), Agrolabo SpA (Italy), Neogen Corporation (U.S.), and IDvet (France).

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Insights
4.1. Market Overview
4.1.1. Drivers
4.1.1.1. Increasing Prevalence of Diseases in Companion Animals
4.1.1.2. Increasing Animal Health Expenditure & Pet Insurance in Developed Countries
4.1.2. Opportunities
4.1.2.1. Advancements in Veterinary Diagnostic Methods
4.1.2.1 Growth Prospects in Emerging Economies
4.2. Impact Assessment of COVID-19 Pandemic

5. Companion Animal Diagnostics Market, by Product
5.1. Introduction
5.2. Consumables
5.2.1. Heartworm Diseases
5.2.2. Leukemia
5.2.3. Influenza
5.2.4. Other Diseases
5.3. Systems
5.4. Software

6. Companion Animal Diagnostics Market, by Technology
6.1. Introduction
6.2. Immunodiagnostics
6.2.1. Enzyme-linked Immunosorbent Assay (ELISA) Tests
6.2.2. Other Immunodiagnostic Tests
6.3. Molecular Diagnostics
6.3.1. Polymerase Chain Reaction (PCR)
6.3.2. Other Molecular Diagnostic Tests
6.4. Clinical Biochemistry
6.5. Hematology
6.6. Urinalysis
6.7. Other Technologies

7. Companion Animal Diagnostics Market, by Animal Type
7.1. Introduction
7.2. Dogs
7.3 Cats
7.4 Other Companion Animals

8. Companion Animal Diagnostics Market, by End User
8.1. Introduction
8.2. Reference Laboratories
8.3. Veterinary Hospitals & Clinics
8.4. In-house/POC Testing

9. Companion Animal Diagnostics Market, by Geography
9.1. Introduction
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.3.6. Rest of Europe (RoE)
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.4.4. Rest of Asia-Pacific (RoAPAC)
9.5. Latin America
9.6. Middle East & Africa

10. Competitive Landscape
10.1. Introduction
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Market Share Analysis (2021)

11. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
11.1. IDEXX Laboratories, Inc.
11.2. Thermo Fisher Scientific Inc.
11.3. bioMerieux S.A.
11.4. Zoetis Inc.
11.5. Bio-Rad Laboratories, Inc.
11.6. INDICAL BIOSCIENCE GmbH
11.7. Agrolabo S.p.A
11.8. Neogen Corporation
11.9. IDvet
11.10. Heska Corporation

12. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/z6wm1y

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900