openPR Logo
Press release

Companion Diagnostics Market to Expand at a CAGR of ~9% from 2019 to 2027

06-30-2022 09:34 AM CET | Health & Medicine

Press release from: Transparency Market Research

Companion Animal Diagnostics Market:Overview

Transparency Market Research (TMR) has published a new report on the companion animal diagnostics market for the forecast period of 2019-2027. According to the report, the global companion animal diagnostics market was valued at ~US$ 2.3 Bn in 2018 and is projected to expand at a CAGR of ~9% from 2019 to 2027.

Report Overview: https://www.transparencymarketresearch.com/companion-diagnostics-market.html

Global Companion Animal Diagnostics Market: Overview

• Expansion of the global companion animal diagnostics market can be attributed to a rise in the incidence of obesity and other diseases in companion animals and increasing pet ownership.

• North America dominated the global companion animal diagnostics market in 2018, and the trend is anticipated to continue during the forecast period. Highly structured healthcare industry, early new product adoption, and presence of major market players are expected to drive the market in North America.

• Asia Pacific is expected to be a highly lucrative market for companion animal diagnostics, expanding at a high CAGR during the forecast period.

Clinical biochemistry to Dominate Companion Animal Diagnostics Market

• The clinical biochemistry segment dominated the global companion animal diagnostics market in 2018, and the trend is likely to continue during the forecast period. Clinical biochemistry tests refer to blood tests or lab tests that help gain information about the health of the companion animal. Clinical biochemistry also includes glucose analysis, electrolyte analysis and others.

Increasing demand and popularity of chemistry analyzers and glucose monitoring devices in disease diagnosis drives the segment. Moreover, the high preference for various advanced clinical diagnostic products by veterinarians, pet owners, and laboratory technicians is likely to fuel the clinical biochemistry segment in the next few years.

Request A Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=66719

Companion Animal Diagnostics Market: Clinical Pathology to Offer Lucrative Opportunities

• In terms of application, the global companion animal diagnostics market is divided into clinical pathology, bacteriology, parasitology, and others.

• The clinical pathology segment includes cytopathology, hematology, clinical chemistry, immunohematology, coagulation, urinalysis, endocrinology, and general pathology. The clinical pathology segment dominated the global companion animal diagnostics market due to a rise in the demand for diagnostic products and consumables needed to be used during pathology testing, and an increase the number of pathology tests performed on pets.

• Bacteriology is estimated to be a highly lucrative segment of the companion animal diagnostics market during the forecast period. Bacteriology refers to the diagnosis of various bacterial diseases and infection in companion animals. Bacteriology tests include bacterial pathogens testing in blood or serum samples, and aerobic and anaerobic culture testing.

Veterinary Reference Laboratories Account for Major Market Share

• The veterinary reference laboratories segment dominated the global companion animal diagnostics market, in terms of revenue, in 2018. The trend is projected to continue during the forecast period. Increase in the number of veterinary reference laboratories across globe and availability of new advanced tests are likely to propel the segment. Furthermore, veterinary reference laboratories provide veterinary diagnostics to pet owners, and government-related programs or research collaborations are likely to boost the veterinary reference laboratories segment in the companion animal diagnostics market during the forecast period.

• Veterinary hospitals and clinics is projected to be the second-most lucrative segment of the global companion animal diagnostics market during the forecast period. The segment is expected to expand at a significant CAGR from 2019 to 2027, as veterinary hospitals and clinics provide diverse veterinary diagnostic services for companion animals, and also provide advanced diagnosis testing.

Request for covid19 Impact Analysis: https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=66719

North America to Dominate Global Companion Animal Diagnostics Market

• North America accounted for a major share of the global companion animal diagnostics market in 2018, owing to an increase in pet ownership, pet insurance, and presence of major manufacturers in the region. According to North American Pet Health Insurance Association (NAPHIA) reports, the total number of pets insured in the U.S. and Canada reached 2.43 million at year-end 2018, an increase of 17% from 2017.

• The companion animal diagnostics market in Asia Pacific is likely to expand at a high CAGR from 2019 to 2027. This can be attributed to an increase in the number of companion animals in countries such as China and Japan, improvement of healthcare infrastructure in terms of better facilities, and a rise in the demand for advanced products in the region.

Global Companion Animal Diagnostics Market: Competitive Landscape

• The global companion animal diagnostics market is fragmented in terms of number of players. Key players operating in the global companion animal diagnostics market include Heska Corporation, IDEXX Laboratories, Inc., Thermo Fisher Scientific, Inc., QIAGEN N.V., Zoetis, Inc., Neogen Corporation, bioMérieux SA, Randox Laboratories Ltd., and Virbac.

More Trending Reports by Transparency Market Research:

Cervical Cancer Diagnostic Tests Market: https://www.transparencymarketresearch.com/cervical-cancer-diagnostic-tests-market.html

Central Lab Market: https://www.transparencymarketresearch.com/central-lab-market.html

In Vitro Diagnostics Market: https://www.transparencymarketresearch.com/in-vitro-diagnostic-tests.html

ASRs and RUOs Market: https://www.transparencymarketresearch.com/us-asrs-and-ruos-market.html

Companion Diagnostics Market: https://www.transparencymarketresearch.com/companion-diagnostics-market.html

Europe and Middle East & Africa Respiratory Panel Testing Market: https://www.transparencymarketresearch.com/emea-respiratory-panel-testing-market.html

Direct-to-Consumer Laboratory Testing Market Insights: https://www.transparencymarketresearch.com/north-america-direct-to-consumer-laboratory-testing-market.html

Pressure Ulcer Diagnostics Market: https://www.transparencymarketresearch.com/pressure-ulcer-diagnostics-market.html

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants, uses proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact Us

Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Companion Diagnostics Market to Expand at a CAGR of ~9% from 2019 to 2027 here

News-ID: 2667238 • Views: 135

More Releases from Transparency Market Research

Power Supply Market Highlights On Evolution 2031
Power Supply Market: Introduction Transparency Market Research delivers key insights on the global power supply market. In terms of revenue, the global power supply market is estimated to expand at a CAGR of 5.1% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecast in its report on the global power supply market. Get A Complete Report Details - https://www.transparencymarketresearch.com/power-supply-market.html The global power supply market is broadly
Base Oil Market Product Development Survey 2030
The expanding demand for high-viscosity lubricants across numerous applications will assure extensive growth opportunities for the base oil market during the forecast period of 2020-2030. The rapid industrialization across many regions, especially densely populated areas like India and China will bring tremendous growth prospects as industries use base oils on a large scale. Base oils are used for manufacturing industrial oils such as metal processing fluids, motor oil, and lubricating
Synthetic Leather Market Segmentation and Major Key Player's Analysis till 2031
Synthetic Leather Market: Introduction Transparency Market Research delivers key insights on the global synthetic leather market. In terms of revenue, the global synthetic leather market is estimated to expand at a CAGR of 7.23% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global synthetic leather market. Get A Complete Report Details - https://www.transparencymarketresearch.com/synthetic-leather-market.html The global synthetic leather market is broadly
Biostimulants Market Comprehensive Survey 2031
Biostimulants Market: Introduction Transparency Market Research delivers key insights on the global biostimulants market. In terms of revenue, the global biostimulants market is estimated to expand at a CAGR of 9.6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global biostimulants market. Get Sample Copy of this Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=11099 The global biostimulants market is broadly affected by several factors, including

All 5 Releases