Global Companion Animal Diagnostics
Market Report
2024
Global Companion Animal Diagnostics market size will be USD 7.23 Billion by 2030. Companion Animal Diagnostics Industry's Compound Annual Growth Rate will be 8.42% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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Global Companion Animal Diagnostics market size will be USD 7.23 Billion by 2030. Companion Animal Diagnostics Industry's Compound Annual Growth Rate will be 8.42% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Companion Animal Diagnostics Market Sales Revenue 2030 | $ 7.23 Billion |
Global Companion Animal Diagnostics Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.42% |
Market Split by Technology |
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Market Split by Application |
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Market Split by Animal Type |
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Market Split by End User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Companion Animal Diagnostics Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
When a companion animal, such as a dog, cat, or horse, has a disease or problem, companion animal diagnostics refers to using diagnostic procedures and equipment to identify and diagnose it. By enabling the early identification, precise diagnosis, and efficient treatment of a variety of illnesses in pets, companion animal diagnostics serve an essential role in veterinary care.
Several reasons drive the companion animal diagnostics industry. First, there is an increased need for high-quality companion animal healthcare due to the rise in pet ownership and human-animal interaction. The need for diagnostic services is being driven by pet owners' increased willingness to spend money on diagnosing and treating their pets' medical ailments.
The development of diagnostic technology, a rise in zoonotic infections (diseases that may spread from animals to people), chronic diseases in companion animals, and the necessity for early disease identification and prevention are other reasons that also fueled the market expansion.
Market Dynamics
Drivers:
The primary driver of the market's expansion is an increase in companion animals, rising veterinary healthcare costs, and demand for pet insurance. For instance, the American Pet Products Association, Inc. research estimates that the United States pet sector spent USD 97.1 billion, USD 103.6 billion, and USD 123.6 billion in 2019, 2020, and 2021, respectively. Similar to this, the North American pet insurance market surpassed USD 2.83 billion by the end of 2021, according to research by the North American Pet Health Insurance Association (NAPHIA), and the sector saw growth of more than double over the previous four years (2018 - 2021).
Additionally, it stated that in 2021, the United States' total premium volume for pet insurance was estimated to be about USD 2.6 billion. At the end of 2021, there were around 3.9 million insured pets in the United States, a 28.0% increase from 2020. As a result, such occurrences point to a large market expansion throughout the projection period.
Animals suffered from chronic illnesses like humans. Common chronic diseases in pets include arthritis and other orthopedic disorders, chronic renal disease, cancer, hepatitis and other liver diseases, skin allergies, inflamed bowel diseases, and thyroid. Both domesticated animals and wild animals are susceptible to cancer. Animals have been diagnosed with several cancer forms that, like human cancers, show signs such as unexplained weight loss, unusual swelling, and lethargy.
According to Association for pet obesity prevention 2022, the Pet Obesity Prevalence Survey showed that there had been a rise in the number of overweight and obese cats and dogs, with 61% and 59%, respectively, being overweight or obese. This rate for dogs climbed from 56% in 2018 and 2017 and for cats from 60%.
Restraints:
Both pet ownership rates and pet care costs have increased during the previous ten years. Over the past ten years, there has been a sharp increase in the cost of pet care. Despite their efficacy, contemporary monitoring, diagnostic, and treatment procedures are expensive, which is largely to blame for the high expenses. Although treatments depend on advanced products and techniques, the supplies and equipment needed to carry out these operations can be rather expensive.
According to a 2022 Lending Tree poll on pet spending, More than 75% of pet owners say inflation is driving up the cost of pet ownership, and over 26% are having trouble keeping up with rising prices.
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Recent development:
IDEXX Laboratories, Inc., a global leader in pet healthcare innovation, announced a series of product and service enhancements that enable veterinary practices to be more efficient while managing increasing patient volumes. The enhancements provide deeper, actionable insights and personalized support to facilitate faster, more confident clinical decisions.
Top Companies Market Share in Companion Animal Diagnostics Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
Region and country analysis section of Companion Animal Diagnostics Industry Analysis has been segmented into 5 major region such as North America, Europe, Asia Pacific, Middle East & Africa ,and Latin America (along with respective major contributing countries) and provides the revenue share, current trends.
The base years considered for all the estimations by analyzing trends and growth rate will help you gain an in-depth understanding of the conclusions provided in this report. This report also includes figures, graphs, pie charts, tables and bar graphs that explain the data analysis based on current trends at the country level as well as key regions. This research report also focuses on assessing factors such as profit, product price, capacity, production, supply demand market growth rate along with others to create a clear picture on the future prospects of Companion Animal Diagnostics market.
The current report Scope analyzes Companion Animal Diagnostics Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Companion Animal Diagnostics Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Companion Animal Diagnostics Industry growth. Companion Animal Diagnostics market has been segmented with the help of its Technology, Application Animal Type, and others. Companion Animal Diagnostics market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for Companion Animal Diagnostics market.
Technology of Companion Animal Diagnostics analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Companion Animal Diagnostics Industry. Request a Free Sample PDF!
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of Companion Animal Diagnostics from 2019 to 2031. This will also help to analyze the demand for Companion Animal Diagnostics across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Application of Companion Animal Diagnostics are:
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Companion Animal Diagnostics market report 2024 Edition by contacting our team.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Companion Animal Diagnostics Market is witnessing significant growth in the near future.
In 2023, the Clinical Biochemistry segment accounted for noticeable share of global Companion Animal Diagnostics Market and is projected to experience significant growth in the near future.
The Clinical Pathology segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies IDEXX Laboratories, Thermo Fisher Scientific and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Technology | Clinical Biochemistry, Immunodiagnostics, Hematology, Molecular Diagnostics, Urinalysis, Others |
Application | Clinical Pathology, Bacteriology, Virology, Parasitology, Other Applications |
Animal Type | Dogs, Cats, Others |
End User | Diagnostic Labs, Point-Of-Care and In-House Testing, Research Institutes and Universities, Veterinary Hospitals and Clinics |
List of Competitors | IDEXX Laboratories, Zoetis, Thermo Fisher Scientific, Virbac, Heska Corporation, Neogen Corporation, bioMérieux SA, IDvet, INDICAL Bioscience GmbH, Randox Laboratories |
This chapter will help you gain GLOBAL Market Analysis of Companion Animal Diagnostics. Further deep in this chapter, you will be able to review Global Companion Animal Diagnostics Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Companion Animal Diagnostics Market Trends North America Companion Animal Diagnostics Technological Road Map North America Companion Animal Diagnostics Market Drivers North America Companion Animal Diagnostics Market Restraints North America Companion Animal Diagnostics Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Technology Analysis 2019 -2031, will provide market size split by Technology. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Technology Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Animal Type Analysis 2019 -2031
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Chapter 13 Market Split by End User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Companion Animal Diagnostics market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Clinical Biochemistry have a significant impact on Companion Animal Diagnostics market? |
What are the key factors affecting the Clinical Biochemistry and Immunodiagnostics of Companion Animal Diagnostics Market? |
What is the CAGR/Growth Rate of Clinical Pathology during the forecast period? |
By type, which segment accounted for largest share of the global Companion Animal Diagnostics Market? |
Which region is expected to dominate the global Companion Animal Diagnostics Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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