July 24, 2024
Rising Demand for Pet Insurance Bolsters Sector

DUBLIN, Feb. 22, 2023 /PRNewswire/ — The “Companion Animal Diagnostics Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028: Segmented By Technology, By Application, By Animal Type, By End User, By Region, Forecast & Opportunities, 2028” report has been added to  ResearchAndMarkets.com’s offering.

Global companion animal diagnostics market is anticipated to grow at a rapid pace in the forecast period, 2024-2028. Increase in the number of infectious and food-borne diseases in pets coupled with the shifting focus of pet owners towards their pets’ well-being are the key factors responsible for the growth of the market.

According to the People’s Dispensary for Sick Animals (PDSA) PAW, 2.0 million people in the United Kingdom owned pets between March 2020 to May 2021. Besides, pets are prone to zoonotic diseases such as anthrax and bird flu, which can further infect humans thereby, it is necessary to get the companion animals regularly checked therefore bolstering the growth of the market.

The other factors which are supporting the growth of the market are growing animal healthcare, rising demand for pet insurance, and increasing number of veterinary practitioners. For instance, according to the report issued by the American Pet Products Association, Inc., in 2019, 2020, and 2021, the U.S pet industry expenditure was USD 97.1 billion, USD 103.6 billion, and USD 123.6 billion, respectively.

The global companion animal diagnostics market is segmented into technology, application, animal type, end user, company, and region. Based on end user, the market is segmented into veterinary reference laboratories, veterinary hospitals and clinics, point-of-care/in-house testing, research institutes and universities.

Veterinary reference laboratories held the largest market share in the year 2022. This is attributed to the large number of laboratories which are used to testing variety of infectious diseases. Also, the growing demand for rapid tests and portable devices along with the rising adoption of advanced technologies are expected to impel the growth of the market.

In 2022, North America held the largest market share due to the increasing prevalence of infectious diseases in companion animals and high rate of pet adoption in the developed countries, especially US and Canada. Asia-Pacific is expected to grow at the highest CAGR through the forecast period on account of the increasing investments in the R&D sector for automated diagnostics in animal healthcare.

Key Target Audience:

  • Companion animal diagnostics hospitals and clinics, R&D organizations and other stakeholders
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to companion animal diagnostics

Report Scope:

In this report, global companion animal diagnostics market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Global Companion Animal Diagnostics Market, By Technology:

  • Clinical Biochemistry
  • Clinical Chemistry Analysis
  • Glucose Monitoring
  • Blood Gas & Electrolyte Analysis
  • Immunodiagnostics
  • Hematology
  • Urinalysis,
  • Others
  • Microbiology Tests
  • Histopathology Tests

Global Companion Animal Diagnostics Market, By Application:

  • Clinical Pathology
  • Bacteriology
  • Virology
  • Parasitology
  • Others
  • Pregnancy Testing
  • Genetic Testing
  • Toxicology Testing

Global Companion Animal Diagnostics Market, By Animal Type:

  • Dogs
  • Cats
  • Horses
  • Other
  • Rabbits
  • Reptiles
  • Pet Fish
  • Birds

Global Companion Animal Diagnostics Market, By End User:

  • Veterinary Reference Laboratories
  • Veterinary Hospitals and Clinics
  • Point-of-care/In-house Testing
  • Research Institutes
  • Universities

Global Companion Animal Diagnostics Market, By Region:

  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Singapore
  • Europe
  • France
  • Germany
  • United Kingdom
  • Italy
  • Spain
  • North America
  • United States
  • Mexico
  • Canada
  • South America
  • Brazil
  • Argentina
  • Colombia
  • Colombia Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Voice of Customer

5. Global Companion Animal Diagnostics Market Outlook

6. Asia-Pacific Companion Animal Diagnostics Market Outlook

7. Europe Companion Animal Diagnostics Market Outlook

8. North America Companion Animal Diagnostics Market Outlook

9. South America Companion Animal Diagnostics Market Outlook

10. Middle East & Africa Companion Animal Diagnostics Market Outlook

11. Market Dynamics

12. Market Trends & Developments

13. Competitive Landscape

14. Strategic Recommendations

A selection of companies mentioned in this report includes

  • IDEXX Laboratories, Inc.
  • Zoetis Inc.
  • Virbac
  • Heska Corporation
  • Neogen Corporation
  • Bio-Rad Laboratories, Inc. (U.S.)
  • INDICAL Bioscience GmbH (QIAGEN N.V.)
  • Agrolabo SpA (Italy)
  • ID.vet
  • bioMerieux S.A. (France)

For more information about this report visit https://www.researchandmarkets.com/r/g6r1qr-animal?w=5

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