The global companion animal diagnostics market size was US$ 2.9 billion in 2021. The global companion animal diagnostics market size is estimated to reach US$ 6.0 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.6% during the forecast period from 2022 to 2030.
Companion animals mainly include cats and dogs considered a part of the family. It is a diagnostic process that is used to identify a chronic disease in fellow animals at the molecular state. It is known as the most suitable method to determine and describe different chronic disorders in animals. For the detection of diseases, many diagnostics techniques are used including immunodiagnostic, molecular diagnostic, urinalysis, Clinical biochemistry, and others.
Factors Influencing Market Growth
? The rise in the majority of zoonotic diseases in animals, an increase in technological improvement in point-of-care diagnostics, and an increase in disposable income levels in growing regions drive the overall market expansion.
? The increase in awareness related to animal healthcare and the increase in the use of quick tests and transportable devices in point-of-care diagnostics drive the overall market expansion.
? The shortage of trained veterinary specialists and animal health awareness hampers the overall market expansion.
Effect of the COVID-19 Pandemic
COVID-19 had a positive influence on the overall market expansion. The growth in the majority of COVID-19 has propelled the need for accurate treatment and diagnosis devices in many nations. Moreover, the increase in the number of COVID-19 disorders in animals has alarmed different veterinary institutions around the globe to evaluate samples for diagnosis from companion and domestic animals during the pandemic.
Regional Analysis
North America had the highest revenue share during the analysis period, due to the majority of chronic disorders among animals like gastrointestinal disease, zoonotic disease, and among others and arthritis.
Asia-Pacific is expected to notice lucrative growth, due to a rise in the companion animal population, an increasing need for diagnostics services from the livestock sector, and increasing partner animal health costs, in emerging nations.
Leading Competitors
The prominent players in the global companion animal diagnostics market are:
? Triviumvet
? Randox Laboratories
? Neogen Corporation
? Indical Bioscience
? Idexx Laboratories
? Heska Corporation
? Fujifilm Holdings Corporation
? Thermo Fisher Scientific
? Virbac
? BioNote
? Others
Segmentation Analysis
The global companion animal diagnostics market segmentation focuses on Technology, Application, End User, and Region.
Segmentation on the basis of Technology
? Clinical Biochemistry
o Clinical Chemistry Analyzer
o Blood Glucose Monitoring
o Blood Gas & Electrolyte Analysis
? Immunodiagnostics
o ELISA
o Lateral Flow Assay
o Immunoassay Analyzers
o Others
? Hematology
o Hematology Cartridges
o Hematology Analyzers
? Molecular Diagnostics
o PCR
o Microarrays
o Others
? Urinalysis
o Urinalysis clips & cartridges/panels
o Urine Analyzer
o Urine Test Strips
o Others
Segmentation on the basis of Application
? Clinical Pathology
? Bacteriology
? Virology
? Parasitology
? Other Applications
Segmentation on the basis of Animal Type
? Dogs
? Cats
? Others
Segmentation on the basis of End User
? Diagnostic Labs
? Point-Of-Care and In-House Testing
? Research Institutes and Universities
? Veterinary Hospitals and Clinics
Segmentation on the basis of Region
? North America
? The U.S.
? Canada
? Mexico
? Europe
? Western Europe
? The UK
? Germany
? France
? Italy
? Spain
? Rest of Western Europe
? Eastern Europe
? Poland
? Russia
? Rest of Eastern Europe
? Asia Pacific
? China
? India
? Japan
? Australia & New Zealand
? ASEAN
? Rest of Asia Pacific
? Middle East & Africa (MEA)
? UAE
? Saudi Arabia
? South Africa
? Rest of MEA
? South America
? Brazil
? Argentina
? Rest of South America