Global Companion Animal Diagnostics Market, By Technology (Clinical Biochemistry, Molecular Diagnostics, Immunodiagnostics, Urinalysis, Hematology, and Other), By Animal Type (Dogs, Cats, Horses, and Others), By Application (Bacteriology, Parasitology, Virology, Clinical Pathology, Others), By End-User (Diagnostic Laboratories, Veterinary Hospitals & Clinics, Research Institutes & Universities), , By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
- Published Date: June 2021
- Report ID: BWC19441
- Available Format: PDF
- Page: 185
Report OverviewDiagnostic tests are essential instruments for determining animal health and identifying infections. These diagnostics tests assist in the management, early detection, and prevention & control of animal diseases.
Global Companion Animal Diagnostic Market- Industry Trends & Forecast Report 2027
Global companion animal diagnostic market was worth USD 1.9 billion in 2020 and is further projected to reach USD 3.3 billion by the year 2027, growing at the CAGR of 8.1% in the forecast period. The increasing prevalence of chronic diseases and the growing demand for efficient diagnostics in pet animals are factors projected to drive the growth of the companion animal diagnostic market worldwide. The miniaturization of microfluidic instruments, as well as the emergence of nanobiotechnology and biochips, are all likely to fuel the market growth during the forecast period. Also, the supported commercialization and improvement of in vitro diagnostic devices and imaging systems is expected to drive market growth during the forecast period.
Source: BlueWeave Consulting
Global Companion Animal Diagnostic Market- Overview
Diagnostic tests are essential instruments for determining animal health and identifying infections. These diagnostics tests assist in the management, early detection, and prevention & control of animal diseases. The increasing number of pet owners and the growing adoption of companion animals around the globe are expected to drive the overall market. The tests are cost-effective and also cover a broad range of diseases. Furthermore, the increasing use of glucose monitoring devices for the diagnosis and treatment of diabetic pets is projected to propel the growth of the market even further.
Global Companion Animal Diagnostic Market Forecast and Trends
Increasing adoption of pet animals
Growing adoption of companion animals, particularly in developed countries, to cope with emotional issues and loneliness, as well as for a support, and entertainment of children, and sometimes security, are some of the key factors driving market expansion. Moreover, the increasing focus of pet-owners towards preventive healthcare, regular health checkups, and increasing expenditure on companion animal healthcare to protect them from different infections and other ailments, such as zoonotic diseases is propelling the market growth.
Expanding Demand for The Point of Care Diagnostics
Growing demand for Point of Care Diagnostics (POCD) is expected to drive the growth of the companion animal diagnostics market worldwide. POCD provides rapid clinical test results and can be evaluated instantly, thus, saving a lot of time. Moreover, market players are investing in R&D to develop more advanced POCD equipment to gain more revenue share. With the rising prevalence of zoonotic and other infectious diseases, a need for low-cost rapid diagnosis that can accurately diagnose diseases, such as diabetes, Lyme disease, canine parvovirus, and others, has emerged.
Increasing pet care cost
Due to the increased adoption of companion animals, the cost of pet care is escalating. The initial cost of adoption, as well as the total expenses incurred by a pet owner over the years, are unfavorable for market growth. Furthermore, exotic animal breeds such as Dandie Dinmont terriers, and Basenji, in dogs, as well as Bobcats, Abyssinians, and Scottish Folds in cats, are in high demand all over the world. However, the expenses surrounding the maintenance and care of these pets are also high and puts a lot of pressure on the owner's pockets.
Impact of COVID-19 on Global Companion Animal Diagnostic Market
Despite the fact that the COVID-19 pandemic propelled the global companion animal diagnostics market to new heights, the market also experienced a downturn. The reason for this dip is that visits to veterinary centers have been curtailed owing to lockdown restrictions enforced by the governments of different countries to check the spread of the deadly virus. However, due to the high companion pet adoption rates during the pandemic, the market is expected to rise significantly in the post-COVID-19 period. According to research, more than 10 million people adopted pets in America alone to deal with loneliness and find solace. The number of pets adopted around the world increased dramatically during the lockdown. Because of this, the demand for the animal diagnostics market is projected to proliferate in the post-COVID-19 period.
Global Companion Animal Diagnostic Market - By Technology
Based on technology, the global companion animal diagnostics market is segmented into clinical biochemistry, molecular diagnostics, immunodiagnostics, urinalysis, hematology, and others. The clinical biochemistry segment is expected to account for the largest share in the market 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 in pets. Products such as glucose monitors, chemical analyzers, and blood and gas analyzers are used for diagnosing a variety of disorders, with the increasing prevalence of diabetes being a major reason for the segment's growth.
Global Companion Animal Diagnostic Market - By Animal Type
Based on animal type, the global companion animal diagnostics market is categorized as dogs, cats, horses, and others. The dogs’ segment holds the largest market share in terms of revenue and is projected to witness a high CAGR in the forecast period as well. The factors driving the growth of this segment are the increasing prevalence of obesity and other chronic diseases, such as cancer, among dogs. Cancer can strike dogs at a rate that is similar to that of humans. As a result, the companion animal diagnostic industry is growing.
Global Companion Animal Diagnostic Market - By Application
Based on application, the global companion animal diagnostic market is categorized into bacteriology, parasitology, virology, clinical pathology, and others. The clinical pathology segment holds the largest share in the companion animal diagnostics market. Clinical pathology encompasses hematology, cytopathology, urinalysis, coagulation, immunohematology, clinical chemistry, endocrinology, and general pathology. The factors influencing the market growth in this region are the higher adoption of companion animals in nations such as the US and Canada, the high pervasiveness of chronic diseases, increasing initiative by the government, and well-established veterinary healthcare infrastructure. In the case of chronic diseases, veterinarians suggest routine blood and urine check-ups where clinical pathologists work alongside veterinarians to examine the cause of the disease.
Global Companion Animal Diagnostic Market - Regional Insights
Geographically, the global companion animal diagnostic market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America dominates the market and is estimated to register the largest revenue share in the forecast period as well. Higher adoption of companion animals in countries like the United States and Canada, the widespread prevalence of chronic diseases, increased government initiative, and well-established veterinary healthcare infrastructure are all factors affecting the market growth in this area.
Source: BlueWeave Consulting
The leading market players in the global Companion Animal Diagnostic market are Scil Animal Care Company GmbH Bionote Inc., Skyla Mindray Medical International Limited, Heska Corporation IDEXX Laboratories, Inc., Zoetis Inc., Abnova Corporation, Guardant Health, Inc., Illumina Inc., QIAGEN N.V., and other prominent players. The market is highly consolidated, with both global and regional industry players accounting for a significant share of the market. The adoption of competitive strategies like partnerships, acquisitions, mergers, and product launches is very prominent here. Furthermore, the companies invest significant amounts in research and development and technological advancements to gain a competitive advantage.
l In June 2021, LexaGene Holdings, a molecular diagnostics company based in the United States, announced its partnership with Ethos Discovery, a veterinary research institute based in the United States. This collaboration aims to broaden the scope of MiQLab System, LexaGene's solution for diagnosing urinary tract infections (UTI).
l In June 2021, IDEXX Laboratories, a US-based veterinary diagnostics company, announced the acquisition of ezyVet, a cloud-based practice management solution. Through this acquisition, IDEXX laboratories aim to offer technology solutions for improving their efficiency and customer experience.
Scope of the Report
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Million
North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa
By Technology, By Animal Type, By Application, By End-user, By Region
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.
Ø Clinical Biochemistry
Clinical Chemistry Analysis
Blood Gas Electrolyte Analysis
Ø Molecular Diagnostics
Polymerase Chain Reaction Tests
Others (Genotyping, DNA Profiles, etc.)
Lateral Flow Assays
Allergen-Specific Immunodiagnostic Tests
Others (fluorinated agglutination tests, non-infection immunoassays, etc.)
Clips & Cartridges/Panels
Urine Test Strips
Ø Other Technologies
By Animal Type
Ø Others (Rabbits, Birds, etc.)
Ø Clinical Pathology
Ø Others (Pregnancy Testing, Toxicology Testing, etc.)
Ø Ambulatory Surgical Centers, & Nursing Homes
Ø Diagnostic & Pathology Laboratories
Ø Blood Banks
Ø North America
Ø Asia-Pacific (APAC)
Ø Latin America (LATAM)
Ø Middle-East & Africa (MEA)
1. What is the current size of the global companion animal diagnostic market?
Answer: The global companion animal diagnostic market reached USD 1.9 billion in 2020.
2. What are the major factors driving the growth of the global companion animal diagnostic market?
Answer: The major factors driving the growth of the global companion animal diagnostic market are; increasing adoption of pet animals and expanding demand for point of care diagnostics.
3. Who are the key players in the global companion animal diagnostic market?
Answer: The key players in the 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.
4. Which application segment accounted for the largest share in the global companion animal diagnostic market?
Answer: The clinical pathology segment accounted for the largest share in the global companion animal diagnostic market.
5. Which region is at the highest growth rate in the global companion animal diagnostic market?
Answer: North America has the largest share in the global companion animal diagnostic market.
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