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Rising Number Of Pet Owners Fuels Growth In Companion Animal Diagnostics: A Significant Driver Propelling The Companion Animal Diagnostics Market In 2025
Companion Animal Diagnostics
What Is the Companion Animal Diagnostics Market Size and Projected Growth Rate?
Over the past few years, the companion animal diagnostics market has seen robust growth. This market, which was valued at $3.1 billion in 2024, is projected to increase to $3.4 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 9.9%. Multiple factors have spurred growth in this historical period, including an uptick in pet ownership, augmenting veterinary healthcare spending, a growing understanding of pet health, wider acceptance of pet insurance, a surge in zoonotic diseases occurrences, and escalating demand for early disease identification in pets.
Expected to experience strong growth in the coming years, the companion animal diagnostics market is predicted to reach a size of $4.91 billion by 2029, with a compound annual growth rate (CAGR) of 9.6%. The growth during this forecast period can be traced back to factors like the increasing acceptance of point-of-care testing, enhanced availability of sophisticated diagnostic tools, a surge in demand for customised veterinary care, the spread of telemedicine services for pets, a heightened emphasis on preventive healthcare and surging investments in diagnostic product development by market stakeholders. The forecast period is also expected to witness certain major trends like the expansion of telehealth diagnostics specifically for pets, the integration of wearable diagnostic tools, progress in molecular diagnostic techniques, the evolution of personalised veterinary diagnostics and the adoption of cloud-based diagnostic data management.
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What Are the Major Segments in the Companion Animal Diagnostics Market?
The companion animal diagnostics market covered in this report is segmented -
1) By Animal Type: Cat, Horse, Dog, Other Animal Types
2) By Technology: Immunodiagnostics, Clinical Biochemistry, Hematology, Urinalysis, Molecular Diagnostics, Other Technologies
3) By Application: Bacteriology, Clinical Pathology, Virology, Parasitology, Other Applications
4) By End-Users: Diagnostics Laboratories, Veterinary Clinics And Hospitals, Research Institutes, Home Care Settings
Subsegments:
1) By Cat: Feline Infectious Disease Testing, Feline Blood Tests, Feline Urinalysis
2) By Horse: Equine Infectious Disease Testing, Equine Blood Tests, Equine Diagnostic Imaging
3) By Dog: Canine Infectious Disease Testing, Canine Blood Tests, Canine Urinalysis
4) By Other Animal Types: Small Mammals, Birds, Reptiles, Exotic Pets
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What Are The Driving Companion Animal Diagnostics Market Evolution?
The increase in pet ownership is predicted to spur the expansion of the companion animal diagnostics market. These are individuals who have custody and bear the responsibility of caring for and managing pets. The growth in pet ownership can be attributed to the growing acknowledgement of their emotional and health advantages, accompanied by the surge in available pet-related goods and services. The role of companion animal diagnostics is crucial as it provides critical health data and early detection of illnesses in pets, leading to prompt and effective treatments. For example, the American Pet Products Association, a US-based non-profit organization, reported in October 2023 that 86.9 million US homes had a pet, translating to 66% of households in 2022. Moreover, in November 2022, Animal Medicines Australia, an association representing animal health, indicated that 69% of Australian households had pets in 2022. Hence, the increase in pet owners is facilitating the growth of the companion animal diagnostics market.
Which Firms Dominate The Companion Animal Diagnostics Market Segments?
Major companies operating in the companion animal diagnostics market are Thermo Fisher Scientific Inc., Merck KGaA, Fujifilm Holdings Corporation, Zoetis Inc., VCA Inc., Mindray Medical International Limited, bioMérieux S.A., IDEXX Laboratories Inc., Qiagen N.V., Virbac S.A., Randox Laboratories Ltd., Esaote S.p.A., Abaxis Inc., Neogen Corporation, Arkray Inc., Indical Bioscience GmbH, Biovet S.A., Woodley Equipment Company Ltd., Scil Animal Care Company, Laboklin GmbH & Co. KG, VolitionRx Limited
What Trends Are Expected to Dominate the Amnion Patch Market in the Next 5 Years?
Major firms in the companion animal diagnostics market are striving to build reference laboratories to elevate remote diagnostic capacities and boost access to specialist care. These reference laboratories are advanced diagnostic facilities providing testing services, often surpassing the abilities of regular clinical labs. For example, in November 2023, Antech Diagnostics, Inc., a veterinary diagnostics firm based in the United States, unrolled its inaugural complete veterinary diagnostic service in the UK, inclusive of a new high-tech reference lab in Warwick. This new diagnostic portfolio is designed to equip UK veterinary experts with an extensive and versatile array of services, such as reference lab services, on-site diagnostics, imaging, and software solutions.
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Which Is The Largest Region In The Companion Animal Diagnostics Market?
North America was the largest region in the companion animal diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the companion animal diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Companion Animal Diagnostics Market?
2. What is the CAGR expected in the Companion Animal Diagnostics Market?
3. What Are the Key Innovations Transforming the Companion Animal Diagnostics Industry?
4. Which Region Is Leading the Companion Animal Diagnostics Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the companion animal diagnostics market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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