Companion Animal Diagnostics Market size worth $ 5.10 Billion, Globally, by 2030 at 8.2% CAGR: Verified Market Research®

The market’s expansion is largely due to factors such as the rising number of companion animals, rising transboundary and zoonotic disease incidence, rising demand for pet insurance, rising animal health expenditure, rising veterinary professional numbers, and rising income levels in developed economies.

Jersey City, New Jersey, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Companion Animal Diagnostics Market” By Technology (Immunodiagnostic Tests, Molecular Diagnostics), By Animals (Cats, Dogs), By Application (Bacteriology, Parasitology, Clinical Pathology), and By Geography. According to Verified Market Research, the Companion Animal Diagnostics Market size was valued at USD 2.13 Billion in 2021 and is projected to reach USD 5.10 Billion by 2030, growing at a CAGR of 8.2% from 2022 to 2030.

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Global Companion Animal Diagnostics Market Overview

The demand for companion animal diagnostics is predicted to increase along with the demand for complete and semi-automated diagnostic testing. Automation in testing will lead to greater productivity and ineffective management of big volumes of samples. The tests are affordable and cover a variety of illnesses. Additionally, it is anticipated that increased usage of glucose monitoring equipment to detect diabetes early on will further accelerate growth.

The development of in vitro diagnostic tools and imaging systems was aided by the introduction of micro fluids and miniaturization, among other factors, and is expected to further spur the expansion of companion animal diagnostics. The market for companion animal diagnostics is anticipated to continue expanding as a result of the rising demand for Point Care Diagnostics (POCD). POCD offers quick clinical test findings and may be evaluated immediately, saving time. The global promotion of veterinary services is being spearheaded by government organizations, which is anticipated to fuel market expansion over the forecast period.

Key Developments

  • In December 2021, NEOGEN acquired Genetic Veterinary Sciences, Inc., which expanded the opportunities for the global genomics business of NEOGEN Corporation.
  • In September 2021, Heska Corporation acquired Biotech Laboratories. This acquisition strengthened the company’s portfolio of Rapid Assay Point of Care Diagnostics.
  • In January 2021, this acquisition strengthened the company’s portfolio of point-of-care digital cytology technology and telemedicine services.

Key Players

The major players in the market are Idexx Laboratories, INC. (US), Zoetis, INC. (US), Heska Corporation (US), Thermo Fisher Scientific, INC. (US), Biomérieux SA (France), Virbac (France), Neogen Corporation (US), Fujifilm Holdings Corporation (Japan), Indical Bioscience GmbH (Germany), Idvet (France), Randox Laboratories, LTD. (UK), Shenzhen Mindray Animal Medical Technology Co., Ltd. (China), Honeywell International Inc, and BioNote, Inc (South Korea).

Verified Market Research has segmented the Global Companion Animal Diagnostics Market On the basis of Technology, Animals, Application, and Geography.

  • Companion Animal Diagnostics Market, By Technology
    • Immunodiagnostic Tests
    • Molecular Diagnostics
    • Diagnostic Imaging
    • Other Diagnostics
  • Companion Animal Diagnostics Market, By Animals
    • Cats
    • Dogs
    • Other Animals
  • Companion Animal Diagnostics Market, By Application
    • Bacteriology
    • Parasitology
    • Clinical Pathology
    • Other
  • Companion Animal Diagnostics Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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