Companion Animal Diagnostics Market Overview, Demands, Trend, Technology, Application, End-User, Growth Rate and Global Forecast to 2027

The Companion Animal Diagnostics Market research report gives complete information about the trade evolving markets and studies vision across the well-known segments of the markets. This Companion Animal Diagnostics Market research report surveys all the new enhancements and revolutions in the market. It offers information about the problems in the period of business establishment and guides to diminish the future challenges and difficulties. Furthermore, the Companion Animal Diagnostics Market research report delivers the whole valuation of market shares, policies, products, authorization, governing likings, patent layout, and manufacturing facilities of the key players. The Companion Animal Diagnostics Market research report supports getting an idea about the product introductions, developments, mergers, upcoming future products, shared projects, marketing strategy, and attainments and the outcome of the same on sales, marketing, promoting campaigns, revenue, import, export, and CAGR values.

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Key players in this market are adopting several organic and inorganic growth strategies (such as product launches, agreements, collaborations, acquisitions, and expansions). Some major players in this market are Idexx Laboratories, INC. (US), Zoetis, INC. (US), Heska Corporation (US), Thermo Fisher Scientific, INC. (US), Biomérieux SA (France), Virbac (France), Neogen Corporation (US), Fujifilm Holdings Corporation (Japan), Indical Bioscience GmbH (Germany), Idvet (France), Randox Laboratories, LTD. (UK), Shenzhen Mindray Animal Medical Technology Co., Ltd. (China), and BioNote, Inc (South Korea).

The companion animal diagnostics market is projected to reach USD 3.8 Billion by 2027 from USD 2.4 Billion in 2022 at a CAGR of 9.6% during the forecast period.

The growth in this market is mainly attributed to the increasing companion animal population, rising demand for pet insurance, growing animal health expenditure, and the increasing number of veterinary practitioners & their rising income level in developed countries. However, increasing pet care costs are expected to hinder market growth to a certain extent.

"Clinical Biochemistry segment holds largest share in the companion animal diagnostics market in 2021"

The companion animal diagnostics market is segmented into clinical biochemistry, immunodiagnostics, hematology, urinalysis, molecular diagnostics, and other companion animal diagnostic technologies on the basis of technologies. The clinical biochemistry segment holds the largest share of the companion animal diagnostics market in 2021. Clinical biochemistry is an important technology used for screening infectious and metabolic disorders in small animals. The clinical biochemistry market is segmented into clinical chemistry analysis, glucose monitoring, and blood gas electrolyte analysis.

"Clinical Pathology segment is expected to grow at the fastest growth rate during 2022-2027"

The companion animal diagnostics market is segmented into clinical pathology, bacteriology, virology, parasitology, and other applications based on application type. In 2021, clinical pathology was the largest application segment in this market owing to the high volume of clinical pathology tests performed on companion animals. Clinical pathology encompasses hematology, clinical chemistry, cytopathology, endocrinology, urinalysis, coagulation, immunohematology, and general pathology. In the case of chronic diseases, veterinarians recommend routine blood and urine check-ups, wherein pathologists work alongside vets in order to evaluate the true causes of diseases.

"The diagnostics laboratories holds the largest share of companion animal diagnostics market in 2021"

The companion animal diagnostics market is segmented into diagnostic laboratories, veterinary hospitals & clinics, research institutes & universities, and home care settings based on the end user type. The diagnostic laboratories segment holds the largest share of this market in 2021. The large share of this segment can be attributed to a large number of samples received for analysis in these laboratories from small and large animal practices. Rising awareness among pet owners regarding routine and preventive care is further expected to propel market growth.

"North America accounted for the largest share of the companion animal diagnostics market in 2021"

The companion animal diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa based on the region type. North America holds largest share of of the companion animal diagnostics market in 2021. The large share of this segment can be attributed to the increasing animal population, growing pet insurance, and rising animal health expenditure in North America. The Asia Pacific region is projected to grow at a CAGR of during the forecast period. Factors such as the rapidly increasing animal population, growing awareness about animal welfare, and the rising prevalence of zoonotic diseases are driving the growth of this regional market.

A breakdown of the primary participants (supply-side) for the companion animal diagnostics market referred to for this report is provided below:

By Company Type: Tier 1-60%, Tier 2-30%, and Tier 3-10%
By Designation: C-level-30%, Director Level-50%, and Others-20%
By Region: North America-45%, Europe-15%, Asia Pacific-23%, Latin America- 10%, and Middle East and Africa- 5%

Research Coverage:

The market study covers the companion animal diagnostics market across various segments. It aims at estimating the market size and the growth potential of this market across different segments by Technology, Application, Animal, end user, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants in this market and provide information regarding the closest approximations of the companion animal diagnostics market and its segments. This report will help stakeholders understand the competitive landscape, gain insights to position their businesses better, and plan suitable go-to-market strategies. The report will also help stakeholders in understanding the pulse of the market and gaining information on key market drivers, restraints, opportunities, and challenges.

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Table Of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered - By Type
1.3.2 Markets Covered - By Region
1.3.3 Years Considered
1.4 Currency
Table 1 Standard Currency Conversion Rates
1.5 Limitations
1.6 Stakeholders
1.7 Summary Of Changes

2 Research Methodology
2.1 Research Data
Figure 1 Research Design
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
Figure 2 Primary Sources
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
Figure 3 Breakdown Of Primary Interviews: Supply Side And Demand Side Participants
Figure 4 Breakdown Of Primary Interviews: Supply Side Participants, By Company Type, Designation, And Region
Figure 5 Breakdown Of Primary Interviews: Demand Side Participants, By End User, Designation, And Region
2.2 Market Size Estimation
Figure 6 Revenue Share Analysis Illustration: Idexx Laboratories, Inc.
Figure 7 Supply Side Analysis Of Top Companies (2021)
Figure 8 Cagr Projections Of Drivers, Restraints, Opportunities, And Challenges Of Companion Animal Diagnostics Market (2022-2027)
Figure 9 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
Figure 10 Market Data Triangulation Methodology
2.4 Market Share Estimation
2.5 Research Assumptions
2.6 Risk Assessment
Table 2 Risk Assessment: Companion Animal Diagnostics Market

3 Executive Summary
Figure 11 Companion Animal Diagnostics Market, By Technology, 2022 Vs. 2027 (Usd Million)
Figure 12 Companion Animal Diagnostics Market, By Application, 2022 Vs. 2027 (Usd Million)
Figure 13 Companion Animal Diagnostics Market, By Animal Type, 2022 Vs. 2027 (Usd Million)
Figure 14 Companion Animal Diagnostics Market, By End User, 2022 Vs. 2027 (Usd Million)
Figure 15 Geographic Snapshot: Companion Animal Diagnostics Market

4 Premium Insights
4.1 Companion Animal Diagnostics Market Overview
Figure 16 Growing Companion Animal Population To Drive Market Growth
4.2 Regional Mix: Companion Animal Diagnostics Market
Figure 17 Asia Pacific To Register Cagr Of 10.1% During Forecast Period
4.3 Asia Pacific: Companion Animal Diagnostics Market, By Technology And Country (2021)
Figure 18 China To Hold Largest Share Of Asia Pacific Companion Animal Diagnostics Market In 2021
4.4 Companion Animal Diagnostics Market: Geographic Growth Opportunities
Figure 19 Australia And Mexico To Grow At Highest Rate During Forecast Period
4.5 Companion Animal Diagnostics Market: Developed Vs. Developing Markets
Figure 20 Developing Markets To Register Higher Growth Rate

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 21 Companion Animal Diagnostics Market: Drivers, Restraints, Opportunities, And Challenges
5.2.1 Drivers
5.2.1.1 Increasing Companion Animal Population
Table 3 Pet Population, By Animal, 2014-2020 (Million)
5.2.1.2 Rising Demand For Pet Insurance And Growing Animal Health Expenditure
Table 4 Average Premiums Paid In Us, 2019 Vs. 2020
Figure 22 Us: Pet Industry Expenditure, 2010-2020
Table 5 North America: Pet Health Insurance Market (2012-2016) (Usd Million)
5.2.1.3 Growing Number Of Veterinary Practitioners And Their Rising Income Levels In Developed Countries
Table 6 Number Of Veterinarians And Paraveterinarians In Developed Countries, 2012-2018
5.2.2 Restraints
5.2.2.1 Rising Pet Care Costs
5.2.3 Opportunities
5.2.3.1 Increased Use Of Pcr Testing Panels To Rule Out Covid-19 Virus In Animals
5.2.3.2 Growing Demand For Rapid Tests And Portable Instruments For Point-Of-Care Diagnostic Services
5.2.3.3 Use Of Advanced Technologies To Improve Disease Diagnosis Accuracy In Companion Animals
5.2.4 Challenges
5.2.4.1 Shortage Of Veterinary Practitioners In Developing Countries
Table 7 Number Of Veterinary Professionals, By Country, 2005 Vs. 2014 Vs. 2018
5.3 Industry Trends
5.3.1 Adoption Of Multiple Testing Panels
Table 8 Multiple Testing Panels Vs. Single Testing Panels
5.3.2 Outsourcing Of Veterinary Diagnostic Testing Services
5.3.3 Growing Consolidation In Companion Animal Diagnostics Industry
Table 9 Major Acquisitions In Companion Animal Diagnostics Industry
5.4 Disease Trends
5.4.1 Zoonotic Diseases
Table 10 Common Zoonotic Diseases Spread By Companion Animals Globally
5.4.2 Obesity And Diabetes
5.5 Technological Analysis
5.5.1 Key Technology
5.5.1.1 Development Of Portable Instruments For Poc Diagnostic Services
Table 11 Pont-Of-Care Portable Veterinary Diagnostic Instruments
5.5.2 Adjacent Technology
5.5.2.1 Development Of Rapid And Sensitive Veterinary Diagnostic Kits
5.6 Pricing Analysis
Table 12 Regional Pricing Analysis Of Veterinary Analyzers, 2019 (Usd)
5.7 Impact Of Covid-19 On Companion Animal Diagnostics Market
Table 13 Global Snapshot Of Reported Cases Of Naturally Acquired Sars-Cov-2 (Covid-19) Infections In Animals
Figure 23 Monthly Veterinary Practice Activity, By Region, January-June 2020
5.8 Trends/Disruptions Impacting Customers' Businesses (Yc-Ycc) In Companion Animal Diagnostics Market
Figure 24 Yc-Ycc Shift In Companion Animal Diagnostics Market
5.9 Value Chain Analysis
Figure 25 Companion Animal Diagnostics Market: Value Chain Analysis
5.10 Ecosystem Market Map
Figure 26 Companion Animal Diagnostics Market: Ecosystem Participants
Figure 27 Companion Animal Diagnostics Market: Ecosystem Market Map
5.11 Porter's Five Forces Analysis
Table 14 Companion Animal Diagnostics Market: Porter's Five Forces Analysis
5.11.1 Threat Of New Entrants
5.11.2 Threat Of Substitutes
5.11.3 Bargaining Power Of Suppliers
5.11.4 Bargaining Power Of Buyers
5.11.5 Intensity Of Competitive Rivalry
5.12 Supply Chain Analysis
Figure 28 Companion Animal Diagnostics Market: Supply Chain Analysis
5.13 Regulatory Analysis
5.13.1 Us
5.13.2 Europe
5.14 Patent Analysis
5.14.1 Patent Publication Trends For Companion Animal Diagnostics
Figure 29 Patent Publication Trends (2011-April 2022)
5.14.2 Insights: Jurisdiction And Top Applicant Analysis
Figure 30 Top Applicants & Owners (Companies/Institutions) For Companion Animal Diagnostics Diagnostic Patents (January 2011-April 2022)
Figure 31 Top Applicant Countries/Regions For Companion Animal Diagnostics Patents (January 2011-April 2022)
5.15 Key Conferences & Events During 2021-2023
Table 15 Companion Animal Diagnostics Market: Detailed List Of Conferences & Events
5.16 Key Stakeholders & Buying Criteria
5.16.1 Key Stakeholders In Buying Process
Figure 32 Influence Of Stakeholders In Buying Process For Top 3 Applications
Table 16 Influence Of Stakeholders In Buying Process For Top 3 Applications
5.16.2 Buying Criteria
Figure 33 Key Buying Criteria For Top 3 Applications
Table 17 Key Buying Criteria For Top 3 Applications

6 Companion Animal Diagnostics Market, By Technology

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