Dublin, Dec. 30, 2022 (GLOBE NEWSWIRE) -- 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.
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, and bioMerieux S.A. (France). are some of the major leading players of the global companion animal diagnostics market. Companies keep launching new products to benefit companion animals in order to maintain their positions in the market.
Report Scope:
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
Companies Mentioned
- 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/i9n41e
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