Companion Animal Diagnostic Market Trends 2021 By Top Players Abaxis, Heska Corporation, Randox, Virbac, Qiagen, Fisher Scientific, Neogen, Zoetis

Developed countries like Europe and the U.S. have seen rising adoption of pets for companionship mainly by elderly population, which is likely to drive the companion animal diagnostic business growth. Pets are increasingly being considered as a part of the family, as is obvious from the popular ongoing trend of pet owners being called as pet parents. As per statistics by the European Pet Food Industry, in 2014, there were approximately 75 million households owning a pet, in Europe. With the rise in adoption of pets, the demand for advanced pet products will also increase, thereby boosting the business growth.

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As per a research report by GMI, companion animal diagnostic market is estimated to exceed $3.2 billion valuation by 2024.

With respect to the type of animal, horse diagnostic market has registered enormous gains over the past few years. In the year 2017, the value of horse diagnostic market stood at USD 370.9 million. The outcome and course of the disease depend on various factors like the defense mechanism of the host, disease-causing agent, resistance of breed affected or the species as well as the age, nutritional status, and the hormonal levels of the mammal.

There is a growing need for diagnosis of digestive and skin disorders in horses which has propelled the need for advanced care solutions.

Concerning the regional expanse, the U.K. companion animal diagnostics industry has emerged as a key consumption domain over the years and will continue to witness enormous growth in the near future due to the growing pet adoption along with an economic improvement among people in the region. According to statistics furnished by the Pet Food Manufacturers Association, during the year 2018 close to 13 million households in the nation had pets.

In terms of the type of technology used, clinical biochemistry has garnered significant proceeds due to the extensive demand for veterinary care as well as a high economic value to preserve the endangered species. Moreover, clinical laboratories along with the public demand for enhanced veterinary care has led to the launch of micro methods towards veterinary care.

The industry players are constantly working towards improving their product offerings to meet the changing consumer dynamics. For example, in August 2020, American veterinary service firm- Idexx reportedly announced the expansion of its leading imaging product portfolio to include ImageVue® DR30 digital imaging solutions. The third in its line, the product is the lowest dose radiography system in veterinary medicine and comprises of advanced digital imaging systems

Such efforts undertaken by the companies to provide advanced and reliable diagnostic solutions will prove to be beneficial for the business growth in the coming times. Some of the other notable companion animal diagnostic industry players include Heska Corporation, Fisher Scientific, Zoetis, Qiagen, and Randox, to name a few.

Frequent technological developments in the field of animal diagnostics will supplement growth in the industry in the coming times. The introduction of novel technologies such as the Polymerase Chain Reaction is extensively being deployed for genome sequencing of pathogens to develop vital elements that are used in parasite control and biological research. The use of DNA biotechnology has significantly affected the animal disease control program complementing the development of companion animal diagnostic technologies.

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Partial Chapter of the Table of Content

Chapter 4. Companion Animal Diagnostic Market, By Technology

4.1. Companion animal diagnostic market share, by technology, 2017 & 2024

4.2. Immunodiagnostics

4.2.1. Market size, by region, 2013 – 2024 (USD Million)

4.2.2. ELISA

4.2.2.1. Market size, by region, 2013 – 2024 (USD Million)

4.2.3. Lateral Flow Assays

4.2.3.1. Market size, by region, 2013 – 2024 (USD Million)

4.2.4. Immunoassay analyzers

4.2.4.1. Market size, by region, 2013 – 2024 (USD Million)

4.2.5. Others

4.2.5.1. Market size, by region, 2013 – 2024 (USD Million)

4.3. Clinical biochemistry

4.3.1. Market size, by region, 2013 – 2024 (USD Million)

4.4. Hematology

4.4.1. Market size, by region, 2013 – 2024 (USD Million)

4.5. Molecular Diagnostics

4.5.1. Market size, by region, 2013 – 2024 (USD Million)

4.5.2. PCR

4.5.2.1. Market size, by region, 2013 – 2024 (USD Million)

4.5.3. Microarrays

4.5.3.1. Market size, by region, 2013 – 2024 (USD Million)

4.5.4. Others

4.5.4.1. Market size, by region, 2013 – 2024 (USD Million)

4.6. Urinalysis

4.6.1. Market size, by region, 2013 – 2024 (USD Million)

4.7. Others

4.7.1. Market size, by region, 2013 – 2024 (USD Million)

Chapter 5. Companion Animal Diagnostic Market, By Companion Animal

5.1. Dogs

5.1.1. Market size, by region, 2013 – 2024 (USD Million)

5.2. Cats

5.2.1. Market size, by region, 2013 – 2024 (USD Million)

5.3. Horses

5.3.1. Market size, by region, 2013 – 2024 (USD Million)

5.4. Others

5.4.1. Market size, by region, 2013 – 2024 (USD Million)

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