Companion Animal Diagnostics Market Size, Share & Forecast | 2030 described in a new market report

The Companion Animal Diagnostics Market is expected to grow from US$ 3,139.74 million in 2022 to US$ 6,303.87 million by 2030; it is anticipated to record a CAGR of 9.1% from 2022 to 2030.

The companion animal diagnostics products takes care of the diagnosis of different of diseases in the pet animals.
These products deals with the epidemiology and pathogenesis of the domestic animal and prevents further complications with health of the pet as well as the owner. These products are normally used for the animals like cats, dogs, horses. The companion animal diagnostics market size is expanding with the rising cases of infectious diseases and growing awareness about the use of point-of-care diagnostics for the detection of animal diseases. Point-of-care diagnostics (POCDs) are simple, rapid, and portable diagnostic devices that can detect the disease status at the field level. In recent years, real-time PCR (qPCR) has been transitioned into a POCD platform. These fully automated platforms combine nucleic acid extraction, thermal cycling, and on-site reporting results.

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Analysis of the Top Market Players:
1. Demeditec Diagnostics GmbH
2. ARI Medical Technology Co Ltd
3. Tianjin LOCMEDT Technologies Co Ltd
4. Heska Corp
5. Innovative Diagnostics SAS
6. i-SENS Inc
7. Universal Biosensors Inc
8. Immunology Consultants Laboratory Inc
9. Zoetis Inc
10. Elabscience Biotechnology Inc.

In this report, the market has been segmented on the basis of:

Technique
• Immunodiagnostics
• Clinical Biochemistry
• Molecular Diagnostics
• Urinalysis
• Hematology

Product
• Instruments
• Consumables

Application
• Bacteriology
• Clinical Pathology
• Virology
• Parasitology

Companion Animal Type
• Dogs
• Cats
• Horses

End User
• Diagnostic Laboratories
• Veterinary Hospitals And Clinics
• Research Institutes

For instance, MiniLab from Enigma Diagnostics is a molecular diagnostic platform of 10-35 kg that is carried at the field level and used for validating African swine fever virus, classical swine fever virus, avian influenza virus, and foot-and-mouth disease virus for research purposes. The genesig detection kits of Primerdesign Ltd, UK, supply lyophilized qPCR assay kits for the diagnosis of 62 bovine, 42 equine, 47 porcine, 60 avian, 40 canine, and 26 feline pathogens for research purposes.

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Upsurge in Pet Spending Drives the Growth the Companion Animal Diagnostics Market

A large number of pet owners spend significantly on animal healthcare, particularly on veterinary care, diagnostics, and pharmaceuticals. Pet wellness and preventive diagnostic testing is still in its early stages. Animals can suffer from chronic illnesses such as arthritis, cancer, and allergies, similar to humans. Chronic diseases in pets have become more prevalent, which has a significant impact on people's spending on their pets' well-being and health.

According to estimates from the American Veterinary Medical Association, 1 in 4 dogs is likely to experience neoplasia at some point in its life. Moreover, nearly half of the dogs would develop cancer after the age of 10. According to the American Pet Products Association, Americans spent US$ 136.8 billion on their pets in 2022, which was 10.68% higher than the amount spent in 2021 (US$ 123.6 billion). Thus, the growing prevalence of chronic diseases has become a more significant factor in the increase in pet spending. For instance, according to Healthfor Animals globally, an estimated US$ 4.6 billion was spent on companion animal diagnostics in 2022.

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