Press release
Companion Animal Diagnostics Market - Global Outlook & Forecast 2022-2031
The report delivers an in-depth analysis of evolving market trends, top-performing segments, investment opportunities, value chain insights, competitive dynamics, and regional developments-providing a comprehensive valuation framework for industry stakeholders.
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📈 Market Drivers, Restraints, and Opportunities
Key Drivers:
Rising prevalence of zoonotic diseases among companion animals
Technological advancements in point-of-care diagnostics
Growing disposable incomes in emerging economies boosting pet healthcare spending
Restraint:
Shortage of skilled veterinary professionals, particularly in developing regions
Opportunities:
Increased awareness about animal health and wellness
Growing adoption of rapid testing and portable diagnostic instruments in veterinary point-of-care settings
🔍 Segment Highlights:
🔬 By Technology: Clinical Biochemistry Segment Leads the Way
In 2021, the clinical biochemistry segment accounted for nearly one-third of the global market share.
It is projected to grow at the fastest CAGR of 9.4% from 2022 to 2031.
Growth is driven by rising pet adoption rates and increasing awareness of routine animal health diagnostics.
🧫 By Application: Clinical Pathology Dominates
The clinical pathology segment held the largest share in 2021, contributing to over one-third of total revenue.
It is also expected to register the highest CAGR of 9.2% by 2031, due to the increased incidence of chronic conditions such as rabies and skin diseases.
🐶 By Animal Type: Dogs Segment Maintains Leadership
The dogs segment represented nearly 50% of the market in 2021.
It is anticipated to grow at a CAGR of 8.9%, the fastest among all animal types, fueled by the rising global dog population and zoonotic disease burden in dogs.
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🌍 Regional Analysis
🌎 North America: The Largest Market
Accounted for nearly half of the global revenue in 2021
Driven by the high prevalence of chronic animal diseases and well-established veterinary infrastructure
🌏 Asia-Pacific: Fastest-Growing Region
Expected to grow at a CAGR of 10.2% by 2031
Growth supported by:
Increasing pet ownership
Rising demand for veterinary diagnostics
Escalating animal health expenditures
Key players in the industry-
Thermo Fisher Scientific, Inc
Zoetis, Inc
Agrolabo spa
Biomerieux SA
Virbac
Indical Bioscience Gmbh
Fujifilm Holdings Corporation
Triviumvet
Neogen Corporation
Shenzhen Mindray Animal Medical Technology Co. Ltd
BioNote Inc
Creative Diagnostics
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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