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HEALTHCARE & PHARMACEUTICAL

Companion Animal Diagnostics Market Segmentation by Technology (Immunodiagnostics, Clinical Biochemistry, Haematology, Urinalysis, Molecular Diagnosis, and Others); by Application (Parasitology, Clinical Pathology, Bacteriology, Virology, and Others); by Animal Type (Dogs, Cats, Horses, and Others); by End-User– Global Demand Analysis and Opportunity Outlook 2029

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Extensive insights into the Growth of Companion Animal Diagnostics Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Companion Animal Diagnostics Market Highlights 2020-2029

The companion animal diagnostics market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The major factors which are attributed to drive the growth of the market are the rising population of companion animals. The surge in the market can also be projected to the factors such as the rising demand for pet insurance and increasing in the number of veterinary practitioners in developed countries globally. Moreover, the growing demand for rapid tests and portable instruments for point-of-care services is anticipated to propel the growth of the market. In 2019, according to a study in the US, approximately 5,997,019 dogs were tested for Lyme disease, and around 10,206 were tested positive, that is around 5.17% or 1 out of 20 dogs. 

Companion Animal Diagnostics Market

The market is segmented on the basis of technology which is further bifurcated into immunodiagnostics, clinical biochemistry, haematology, urinalysis, molecular diagnosis, and, others, out of which the molecular diagnosis segment is anticipated to hold the largest share in the target market as compared to other technologies. As the need for reliable, specific, and faster methods to detect chronic diseases and genetic disorders in the primary stage is growing, it has led to the growth of the market segment. 

On the basis of application, clinical pathology segment in the global companion animal disease diagnostics market is projected to grow with a significant CAGR over the forecast period. The market is growing because clinical pathology tests are considered as the first tool for the evaluation of disease patterns as it provides an understanding of disease mechanism and progression as it is important for the development of new treatments.

Companion Animal Diagnostics Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in North America is anticipated to dominate the market over the forecast period on account of rising pet adoption and increasing awareness about animal health. Whereas, the market in the Asia Pacific is expected to emerge in the coming future, owing to the growing animal healthcare infrastructure, which is one of the major factors contributing to the market growth across the region. Additionally, on account of surge in the demand of effective therapies and growing investment for the development of innovative devices has created market growth opportunities over the upcoming forecast period.

Companion Animal Diagnostics Market Size

The global companion animal diagnostics market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global companion animal diagnostics market includes the following segments:

By Technology

  • Immunodiagnostics
    • Lateral Flow Assays
    • ELISA Tests
    • Immunoassay Analyzers
    • Allergen-Specific Immunodiagnostics Tests
    • Others
  • Clinical Biochemistry
    • Clinical Chemical Analysis
    • Glucose Monitoring
    • Blood Gas & Electrolyte Analysis
  • Hematology
  • Urinalysis
  • Molecular Diagnostics
  • Others

By Application

  • Clinical Pathology
  • Parasitology
  • Bacteriology
  • Virology
  • Others

By Animal Type

  • Dogs
  • Cats
  • Horses
  • Others

By End-Users

  • Veterinary Reference Laboratories
  • Research Institutes & Universities
  • Veterinary Hospitals & Clinics
  • Point Of Care/In-House Testing

Growth Drivers

  • Growth in the Companion Animal Population and Diseases Related to Them
  • Increasing Number of Veterinary Practitioners in Developed Economies

Challenges

  • Rising Pet Care Costs

Top Featured Companies Dominating the Market

  • Idexx
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • BIONOTE Co
  • Zoetis
  • RxList Inc
  • Heska Corporation.
  • Randox Laboratories, Ltd
  • Thermo Fisher Scientific Inc.
  • INDICAL Bioscience GmbH
  • Virbac
  • Scil Animal Care Company GmbH

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