Companion Animal Diagnostics Market Size
Rising cases of zoonotic infections in domestic animals will cause companion animal diagnostics market size—which exceeded USD 5.5 billion in sales in 2022—to rise at over 9.5% CAGR between 2023 and 2032.
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The increasing trend of adopting companion animals drives most of the product demand. It is expected that the increasing disposable income spent on pet healthcare will help the companion animal diagnostics sector advance. The American Society for the Prevention of Cruelty to Animals estimates that more than 6 million companion animals enter U.S. animal shelters annually while over 4 million shelter animals are adopted annually.
Furthermore, European Pet Food Industry Statistics show that at least 80 million homes all around the European Union possessed at least one pet. Pet adoption has been increased even further by the growing use of animals in movies and advertising efforts. Additionally driving market size are developments in companion diagnostics.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Companion Animal Diagnostics Market Size in 2022 | USD 5.6 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 9.7% |
| 2032 Value Projection | USD 14.7 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 180 |
| Tables, Charts & Figures | 667 |
| Segments covered | Technology, Animal, Product, Application, End-use, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Prohibitive costs associated with animal tests may restrain industry progression
Although the market for companion animal diagnostics seems bright in terms of product acceptance, cost differences related to veterinary tests create a significant obstacle. These diagnostic tests are costly since they depend on instruments, personnel, overheads, and laboratory tools to run as intended. Pet owners often make investments in pet healthcare products and services to offer quality treatment since they are rather more worried about the health and nutrition of their pet. Moreover, other main negatives include the high costs related to housing, breeding, and long procedures of animal experiments.
Companion Animal Diagnostics Market Analysis
Learn more about the key segments shaping this market
Technologically speaking, the companion animal diagnostics market from the immunodiagnostics category is expected to be valued more than USD 6.5 billion by 2032. Due in great part to their simplicity, high throughput capability, time and cost-efficiency, field portability, and others, an increase in many zoonoses—including leptospirosis, bovine ephemeral fever, viral respiratory tract infections, Johne's diseases, dermatophyte fungi, and infectious bovine rhinotracheitis—is driving the use of immunodiagnostics technologies, such as ELISA, lateral flow assays, and immunoassay analyzers, worldwide companion animals.
Based on end-use, the report estimates that the companion animal diagnostics market from the veterinary clinics segment is valued at over USD 8 billion by 2032 driven by the corporatization of veterinary clinics, which is generating business chains that increase access to quality veterinary services and so influence the valuation. The later expenditures in veterinary clinics help the vets even more to provide access to advanced diagnostics for pet owners.
Particularly for instruments, the market for diagnostic tools used in veterinary offices is predicted to expand noticeably in the next years. This is so because these instruments have various benefitsthey can be used in a range of environments, they are rather easy to build, and they enable fast diagnosis of problems. These cutting-edge diagnostics tools run their own operating system, evaluate samples with just one click, and either automatically or manually calibrate themselves. By examining an animal's hormone levels, hydration level, and electrolytes, a vet analyzer can precisely identify the problem. It can also let the veterinarian see how a treated animal is doing.
From the segment of bacteriology application, the companion animal diagnostics market share is expected to increase at more than 10% CAGR over 2023–2032. The general acceptance of animal diagnostics tests in identifying certain bacterial animal diseases, including Anthrax, Brucellosis, Campylobacteriosis, and Cryptosporidiosis, among others, helps to support the segment growth. According to a 2022 research, bacterial disease is far more likely to affect household animals. Furthermore, the efficient use of modern technologies such PCR tests, integration of molecular diagnostics and immunodiagnostics, helps control and prevent bacterial animal infections.
Learn more about the key segments shaping this market
Attributed to the high pet care cost, increasing adoption of pets, and rising incidence of zoonotic diseases throughout the area, companion animal diagnostics market in North America is predicted to expand at over 9% CAGR between 2023 and 2032. According to the American Pet Products Association's (APPA) 2021–2022 National Pet Owners Evaluation, 70% of homes in the United States comprise roughly 90.5 million families having a pet. Furthermore, U.S. veterinarian care spending climbed to about USD 32 billion in 2021.
Companion Animal Diagnostics Market Share
- Thermo Fischer Scientific Inc.
- Heska Corporation
- Zoetis
- IDEXX Laboratories
- Virbac
- Qiage
- Neogen Corporation
are some of the key participants involved in the companion animal diagnostics market. These companies are engaging in strategic acquisitions and collaborations to remain ahead in the market. For instance, in January 2023, Heska Corporation, a veterinary diagnostic provider, acquired LightDeck Diagnostics, an animal diagnostic firm. With this acquisition, the company aims to expand its R&D and manufacturing capabilities.
Impact of COVID-19 Pandemic
The companion animal diagnostics industry witnessed a positive impact during the COVID-19 pandemic as people opted for companion animal diagnostic test kits for ensuring the well-being of their pets. Numerous incidents were reported about infection of both zoo and domestic animals. For instance, research conducted in France and Spain suggested that the viral DNA was found in the nasopharyngeal swab of cats, dogs, rabbits, and guinea pigs, causing the COVID-19 infection in these animals. The pandemic has highlighted the prominence of animal diagnostics as a response to surging viral diseases as well as in promoting animal health.
Global Companion Animal Diagnostics Market research report includes in-depth coverage of the industry with estimates & forecasts in terms of USD Million from 2018 to 2032, for the following segments
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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
- Dogs
- Cats
- Horses
- Others
By Product
- Instruments
- Consumables
By Application
- Bacteriology
- Parasitology
- Pathology
- Others
By End-use
- Veterinary Clinics
- Veterinary Hospitals
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Poland
- Netherlands
- Sweden
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Thailand
- Philippines
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- Chile
- Peru
- MEA
- South Africa
- Saudi Arabia
- UAE
- Egypt
- Israel
- Turkey
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