Exactitude Consultancy Press Release: Global companion animal diagnostics market

The increasing demand for testing, therapies and faster diagnostics is driving the growth of the companion animal diagnostics market.

The market is expected to expand due to the rising prevalence of infectious animal diseases, advancements in diagnostics, and widespread acceptance of cutting-edge laboratory practices. Additionally, the always expanding pet reception for friendship and positive government drives, among others, are assisting with driving business sector development. In addition, the market expansion is anticipated to be fuelled by the rising demand for point-of-care testing, high-priced specialist therapies, and safer drugs, as well as the encouragement of R&D activities. Additionally, market expansion during the forecast period is fuelled by rising customer awareness of faster diagnostics and rising adoption of analyser software for molecular diagnostics.

Explore 130 market data Tables spread through nearly 93 Pages and in-depth analysis on “Companion Animal Diagnostics Market by Technology (Immunodiagnostics, Clinical Biochemistry, Hematology, Urinalysis, Molecular Diagnostics, Other Companion Animal Diagnostics Technologies), Application (Clinical Pathology, Bacteriology, Virology, Parasitology, Other Applications), Animal (Dog, Cat, Horse, Other Companion Animals), End-User (Diagnostics Laboratories, Veterinary Clinics and Hospitals, Research Institute and Universities, Home-care Settings) and by Region Global Trends and Forecast from 2022 to 2029″ with Table of Content

Rising demand for pet insurance and growing animal health expenditure is driving the demand for companion animal diagnostics.

Pet owners are increasingly looking to ensure the health and well-being of their pets by investing in pet insurance policies that cover the cost of veterinary care, including diagnostic testing. This has led to an increase in the demand for Companion Animal Diagnostics as veterinary professionals seek to provide accurate and timely diagnoses to ensure optimal outcomes for their animal patients. Additionally, animal health expenditure is on the rise globally, as pet owners become more willing to invest in high-quality healthcare for their animal companions. This has led to an increase in the number of veterinary clinics and hospitals, as well as the adoption of advanced diagnostic technologies, such as molecular diagnostics and immunodiagnostics. These technologies provide faster and more accurate results, allowing for quicker diagnoses and more effective treatments.

The clinical pathology segment accounted for a largest revenue share in the global companion animal diagnostics market

The market for companion Animal Diagnostics is dominated by the clinical pathology sector. Haematology, cytopathology, urinalysis, coagulation, immunohematology, clinical chemistry, endocrinology, and general pathology are all included in clinical pathology. The increased acceptance of companion animals in developed countries like the US and Canada, the high prevalence of chronic illnesses, rising government initiative, and a solid veterinary healthcare infrastructure are the main factors impacting the market growth in this area. Clinical pathologists and veterinarians collaborate to study the underlying causes of chronic disorders by routine blood and urine tests, as recommended by veterinarians.

The dogs segment accounted for largest revenue share in the global companion animal diagnostics market.

Dogs are the most commonly owned companion animals globally, and therefore represent a larger patient base for veterinary clinics and hospitals. Additionally, dogs are susceptible to a wide range of diseases and conditions, ranging from infectious diseases to genetic disorders, which require diagnostic testing for accurate diagnosis and treatment. As a result, veterinary professionals are increasingly adopting diagnostic technologies to ensure optimal healthcare outcomes for their canine patients. The growing awareness of pet health and the rising demand for high-quality veterinary care is also expected to contribute to the continued growth of the dog’s segment in the companion Animal Diagnostics Market.

The presence of large industry players carrying out strategic initiatives will drive companion animal diagnostics market share.

The major players operating in the global companion animal diagnostics include IDEXX Laboratories, Inc., Zoetis Inc., Heska Corporation, Neogen Corporation, Thermo Fisher Scientific Inc., Virbac, Randox Laboratories Ltd., IDvet, Bio-Rad Laboratories, Inc., Agrolabo S.p.A., Abaxis, Inc., VCA, Inc., Fujifilm Holdings Corporation, Bionote, Inc., Eurolyser Diagnostica GmbH.

The North America region dominated the companion animal diagnostics market.

North America dominates the market and is expected to have the highest revenue share throughout the projected period. growing acceptance of companion animals in countries such as the United States and Canada, the widespread occurrence of chronic illnesses, growing government effort, and well-established veterinary healthcare infrastructure are all factors influencing market growth in this sector. The growing trend of pet humanization, as well as the increased occurrence of numerous animal ailments, are boosting demand for companion animal diagnostics in the region. Furthermore, the presence of major players in the region, as well as their significant investments in R&D, is expected to drive market revenue growth.

The global companion animal diagnostics market key players include IDEXX Laboratories, Inc., Zoetis Inc., Heska Corporation, Neogen Corporation, Thermo Fisher Scientific Inc., Virbac, Randox Laboratories Ltd., IDvet, Bio-Rad Laboratories, Inc., Agrolabo S.p.A., Abaxis, Inc., VCA, Inc., Fujifilm Holdings Corporation, Bionote, Inc., Eurolyser Diagnostica GmbH.

Key Market Segments

Companion Animal Diagnostics Market by Technology 2022-2029, (USD Billion)

• Immunodiagnostics
• Clinical Biochemistry
• Hematology
• Urinalysis
• Molecular Diagnostics
• Other Companion Animal Diagnostics Technologies

Companion Animal Diagnostics Market by Application, 2022-2029, (USD Billion)

• Clinical Pathology
• Bacteriology
• Virology
• Parasitology
• Other Application

Companion Animal Diagnostics Market by Animal, 2022-2029, (USD Billion)

• Dog
• Cat
• Horse
• Other Companion Animals

Companion Animal Diagnostics Market by End-User, 2022-2029, (USD Billion)

• Diagnostics Laboratories
• Veterinary Clinics and Hospitals
• Research Institute and Universities
• Home-care Settings

Global Market by Regions, 2022-2029, (USD Billion)

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa

Important Countries in All Regions Are Covered

The post Global Companion Animal Diagnostics Market is expected to grow at 9.2% CAGR from 2020 to 2029 appeared first on Exactitude Consultancy.