Companion Animal Diagnostic Market Forecast and Trends
The Global Companion Animal
Diagnostic Market is projected to raise at a significant rate during the
forecast period. Increasing the prevalence of chronic diseases and the demand
for efficient diagnostics in pet animals is projected to fuel the growth.
Growing demand for fully
automated and semi-automated diagnostic tests is expected to propel the demand
for companion animal diagnostics further. Automation in the tests will result
in inefficient handling of large volumes of samples and increased productivity.
The arrival of micro fluids and miniaturization, among others, supported
commercialization and improvement of in vitro diagnostic devices and imaging
systems, which is projected to propel the growth of companion animal
diagnostics further. Growing demand for Point of Care Diagnostics (POCD) is expected
further to drive the growth of the companion animal diagnostics market. POCD
provides fast results of the clinical tests and can be evaluated directly,
which saves time. Market players are investing in R&D to develop POCD
equipment to gain more revenue share.
Companion Animal Diagnostic Market: Overview
Diagnostic tests are
essential tools for checking the health status of animals and in identifying
pathogens. These diagnostics tests assist in the management, early detection,
and prevention & control of animal diseases. The increasing number of pet
owners and increased adoption of companion animals is expected to drive the
overall market. The tests are cost-effective and also cover a broad range of
diseases. Furthermore, increased use of glucose monitoring devices to diagnose
diabetes at an early stage is projected to propel the growth further.
Increasing adoption of pet
Growing adoption of
companion animals, especially in developed countries, to cope up with emotional
disorders and loneliness, or for support, amusement for kids, and sometimes
security, are some of the key factors driving the market growth. Moreover,
increasing focus of pet-owners towards preventive healthcare, regular health
checkup, and increasing expenditure on companion animal healthcare to protect
them from different infectious and other diseases such as zoonotic diseases is
propelling the market growth. Moreover, the increasing demand for rapid tests
and portable instruments for point-of-care services and the use of
sophisticated technologies like machine learning is presumed to offer potential
growth opportunities for market players in the forthcoming years.
Increasing pet care cost
The pet care cost is
increasing due to the increasing adoption of companion animals. The initial
cost of adoption and the whole expenses of the pet owner during the year is
high, which is restricting the growth of the market.
Companion Animal Diagnostic Market: Technology
On the basis of technology,
the market is segmented into Clinical Biochemistry, Molecular Diagnostics,
Immunodiagnostics, Urinalysis, Hematology, and Other. The clinical biochemistry
is expected to account for the largest share of the global market for companion
animal diagnostics during the forecast period. There has been a rise in the
usage of clinical biochemistry tests as the first and primary tool for the
diagnosis of several illnesses. Products such as glucose monitoring devices,
chemistry analyzers, and blood & gas
analyzers are used for the diagnosis of a category of diseases, the increasing
proportion of which, has been an important factor driving the growth of this
Companion Animal Diagnostic Market: Animal Type
Based on its animal type,
the market is categorized as Dogs, Cats,
Horses, and Others. The dogs segment is
anticipated to hold the largest revenue share in the global market due to
increasing prevalence of obesity, and other chronic diseases such as cancer
among dogs. Dogs can get cancer at
approximately the equivalent rate as human beings. This leads to the growth of
companion animal diagnostic market.
Companion Animal Diagnostic Market: Application
The global companion animal
diagnostic market is categorized as Bacteriology, Parasitology, Virology,
Clinical Pathology, Others, based on application. The clinical pathology segment is projected
to account for the largest share of the companion animal diagnostics market.
Clinical pathology encompasses hematology, cytopathology, urinalysis,
coagulation, immunohematology, clinical chemistry, endocrinology, and general
pathology. In the case of chronic diseases, veterinarians suggest routine blood
and urine check-ups where clinical pathologists work accompanying with
veterinarians to examine the cause of the disease.
Companion Animal Diagnostic Market: Regional Insights
Geographically, the global
Companion Animal Diagnostic market is segregated into North America, Europe,
Asia Pacific, Latin America and Middle East & Africa. North America is
estimated to register the largest revenue share in the target market, owing to
higher adoption of companion animals in nations such as the US and Canada in
the region, high pervasiveness of chronic diseases, increasing initiative by
the government, well-established veterinary healthcare infrastructure.
Additionally, North America has strong existence of prominent companies
involved in companion R&D of innovative therapeutics and animal
diagnostics. Higher spending on pet healthcare is a major factor growth driving
The companies that hold the
major share of global Companion Animal Diagnostic market are Scil Animal Care
Company GmbH Bionote Inc., Skyla Mindray Medical International Limited, Randox
Laboratories, Ltd., IDvet, Fujifilm Holdings Corporation, INDICAL Bioscience
GmbH Corporation, Biomérieux SA, Neogen, Virbac, Thermo Fisher Scientific Inc.,
Heska Corporation IDEXX Laboratories, Inc., Zoetis Inc., Abnova Corporation,
Guardant Health, Inc., Illumina Inc. QIAGEN N.V., and other prominent players.
In February 2020, Zeotic
Inc. declared the acquisition of Ethos Diagnostic Science, a veterinary
reference lab business devoted to serving leading specialty animal hospitals,
the larger veterinary community, and researchers with accurate, honest results.
of the Report
Historical data –
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Billion
United States, Canada, Germany, United Kingdom, France, Italy, Spain,
Brazil, Mexico, Argentina, Japan, South Korea, China, India, UAE, South
Africa, Saudi Arabia.
By Technology, By
Animal Type, By end-User, By Application, By Region.
Care Company GmbH Bionote Inc., Skyla Mindray Medical International Limited,
Randox Laboratories, Ltd., IDvet, Fujifilm Holdings Corporation, INDICAL
Bioscience GmbH Corporation, Biomérieux SA, Neogen, Virbac, Thermo Fisher
Scientific Inc., Heska Corporation IDEXX Laboratories, Inc., Zoetis Inc.,
Abnova Corporation, Guardant Health, Inc., Illumina Inc. QIAGEN N.V., and
other prominent players.
By Animal Type
Hospitals & Clinics
Middle East & Africa
objective of the Study:
To analyze and forecast the
Global Market size of the market in terms of value.
To examine the careful
market segmentation and forecast the market size, in terms of value, based on
the region by segmenting.
The Global Market segmented
into five regions, namely, North America, Europe, Asia Pacific, Middle East
& Africa, Latin America.
To outline, categorized, and
forecast the Global Market based on the Technology, Animal Type, End-User, and
To examine competitive
developments like technological advancement, services, and regulative framework
within the Global Market.
To highlight the impact
analysis of the factors affecting the market dynamics such as drivers,
restraints, opportunities, and challenges.