Companion Animal Diagnostics Market Share, Size, Trends and Global Forecast 2030

[Research Report] The companion animal diagnostics market is expected to grow from US$ 3,139.74 million in 2022 to US$ 6,303.87 million by 2030; it is expected to register a CAGR of 9.1% from 2022 to 2030.

Market Insights and Analyst View:

The companion animal diagnostics market size is expanding with the rising cases of infectious diseases and growing awareness about the use of point-of-care diagnostics for the detection of animal diseases. Point-of-care diagnostics (POCDs) are simple, rapid, and portable diagnostic devices that can detect the disease status at the field level. In recent years, real-time PCR (qPCR) has been transitioned into a POCD platform. These fully automated platforms combine nucleic acid extraction, thermal cycling, and on-site reporting results. For instance, MiniLab from Enigma Diagnostics is a molecular diagnostic platform of 10–35 kg that is carried at the field level and used for validating African swine fever virus, classical swine fever virus, avian influenza virus, and foot-and-mouth disease virus for research purposes. The genesig detection kits of Primerdesign Ltd, UK, supply lyophilized qPCR assay kits for the diagnosis of 62 bovine, 42 equine, 47 porcine, 60 avian, 40 canine, and 26 feline pathogens for research purposes. Similarly, Boster offers Bosterbio qPCR kits to detect up to 48 individual or pooled samples. It is used for gene expression profiling, target DNA quantification, microbial detection, viral or bacterial pathogen load determination, and evaluation of primer pair performance for probe-based qPCR. Also, the increase in the adoption of companion animals and the increase in spending for well-being of their pets are factors driving the growth of the companion animal diagnostics market.      

Growth Drivers and Challenges:

Pets have become an important part of human lives. Pet adoption is a crucial component of animal welfare, giving homeless and abandoned animals a chance to live a quality life. The growth of the companion animal diagnostics market is most pronounced in nations with expanding middle-class populations, which boosts the emergence of a new pet culture based on a preference to keep pets solely for companionship, followed by their humanization. In 2022, the UK Pet Food Manufacturers' Association (PFMA) reports that 62% of households in the country own a pet of some kind. In the UK, PFMA polled close to 9,000 households. With 13 million animals, dogs continued to be the most popular pets, closely followed by cats (12 million). According to the Humane Society of the United States, ~69 million and 45.4 million households petted at least one dog and cat, respectively, in 2021–2022. The desire of pet owners to provide their animals with better care leads to a rising need for veterinary diagnostics, and growing awareness regarding disease diagnosis among pet owners is driving the companion animal diagnostics market expansion.

Veterinary medicine businesses seek candidates with advanced management skills to provide support in complex businesses. According to the US National Research Council Committee, institutes and companies involved in veterinary research face challenges in maintaining the economic sustainability of veterinary practices to meet the transforming needs of societies. As of 2022, the American Veterinary Medical Association (AVMA) noted that only 78,717 veterinarians are registered for clinical practice in the US, and 14,158 work as public/corporate employees. The country experiences a limited enrolment of students in various veterinary research fields, such as pathology, toxicology, and laboratory animal medicine. Thus, the limited availability of skilled professionals in developed and developing countries hinders the growth of the companion animal diagnostics market.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Get 10% FREE CUSTOMIZATION

Companion Animal Diagnostics Market: Strategic Insights

Companion Animal Diagnostics Market

• 
  CAGR (2022 - 2030)

  9.1%
• Market Size 2022
  US$ 3.14 Billion
• Market Size 2030
  US$ 6.3 Billion

Market Dynamics

GROWTH DRIVERS

• Increasing Adoption of Pets for Companionship
• Upsurge in Pet Spending

FUTURE TRENDS

• Technological Advancements

OPPORTUNITIES

• New Product Launches and Approvals

Key Players

• Demeditec Diagnostics GmbH
• ARI Medical Technology Co Ltd
• Tianjin LOCMEDT Technologies Co Ltd
• Heska Corp
• Innovative Diagnostics SAS
• i SENS Inc
• Universal Biosensors Inc
• Immunology Consultants Laboratory Inc
• Zoetis Inc

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Technique

• Immunodiagnostics
• Clinical Biochemistry
• Molecular Diagnostics
• Urinalysis
• Hematology

Product

• Instruments and Consumables

Application

• Bacteriology
• Clinical Pathology
• Virology
• Parasitology

Companion Animal Type

• Dogs
• Cats
• Horses

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Report Segmentation and Scope:

The companion animal diagnostics market is divided on the basis of technique, product, application, companion animal type, end user, and geography. Based on technique, the companion animal diagnostics market is segmented into immunodiagnostics, clinical biochemistry, hematology, urinalysis, molecular diagnostics, and others. The immunodiagnostics segment is sub-segmented into lateral flow assays, ELISA tests, allergen-specific immunodiagnostic tests, and immunoassay analyzers. The clinical biochemistry segment is further categorized into clinical chemistry analysis, glucose monitoring, and blood gas electrolyte analysis. Based on product, the companion animal diagnostics market is bifurcated into instruments and consumables. Based on application, the companion animal diagnostics market is segmented into bacteriology, clinical pathology, virology, parasitology, and others. Based on companion animal type, the companion animal diagnostics market is segmented into dogs, cats, horses, and others. Based on end user, the companion animal diagnostics market is segmented into diagnostic laboratories, veterinary hospitals and clinics, and research institutes and universities. Based on geography, the companion animal diagnostics market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Segmental Analysis:

Based on technique, the companion animal diagnostics market is segmented into immunodiagnostics, clinical biochemistry, hematology, urinalysis, molecular diagnostics, and others. The immunodiagnostics segment is sub-segmented into lateral flow assays, ELISA tests, allergen-specific immunodiagnostic tests, and immunoassay analyzers. The clinical biochemistry segment is further categorized into clinical chemistry analysis, glucose monitoring, and blood gas electrolyte analysis. The immunodiagnostics segment held the largest share of the market in 2022 and is estimated to register the highest CAGR in the market during 2022–2030. Immunoassays are biochemical tests that use antigen-antibody binding reactions to detect the presence of particular molecules in the sample. The applications of immunoassay in veterinary science are vast and form the basis of most studies of infections in animals. The immunodiagnostics include tests such as lateral flow assays, ELISA tests, allergen-specific immunodiagnostic tests, and immunoassay analyzers. Owing to the high specificity and sensitivity, these tests are expected to witness rapid growth during 2022–2030. Clinical biochemistry is the division of veterinary laboratory medicine that measures biological chemical compounds in the blood, urine, and other body fluids using molecular and biochemical reactions. The test results help in the detection of health problems, determining prognosis, and also helps in guiding physicians toward the right therapy for the patient. Biochemical tests are also used to monitor the adverse effects of therapeutic drugs. This segment includes tests such as clinical chemistry analysis, glucose monitoring, and blood gas electrolyte analysis. Molecular diagnostic tests refer to the detection of nucleic acid (DNA/RNA) of an infectious agent in the given sample. Polymerase chain reaction (PCR), quantitative PCR, reverse transcription PCR, duplex and multiplex PCR, and DNA sequencing are among the techniques used to carry out these tests. Quantitative PCR offers better sensitivity and specificity compared to conventional PCR. Many laboratories offer molecular diagnostics services, which include the identification of a broad range of viral, bacterial, and vector-borne pathogens. Molecular diagnostics offer more sensitivity and specificity, and pathogens can be detected quickly even in a small amount of specimen. These advantages are estimated to accentuate the growth of the molecular diagnostics segment.

Regional Analysis: 

Based on geography, the companion animal diagnostics market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America is the largest contributor to the growth of the global companion animal diagnostics market. Asia Pacific is expected to register the highest CAGR in the companion animal diagnostics market during 2022–2030. The North America companion animal diagnostics market is divided into the US, Canada, and Mexico. The growth of the market in the region is due to rising government support for research and development activities in veterinary medicine, growing technological advancements that are resulting in various market consolidations, and rising adoption of pet animals across countries in North America. In addition, the presence of various market leaders in the companion animal diagnostics market is projected to influence the market growth positively during the forecast period. The companion animal diagnostics market in the US is expected to be the largest in North America. The growth of the market in the country is determined by factors such as a technologically advanced team in research and development of the veterinary sector and the presence of numerous animal health centers. Besides this, an increase in the adoption rate of pet animals and rising concern about maintaining the health of pets further promote the market growth. According to the Humane Society of the United States, an estimated 69 million and 45.4 million households owned at least one dog and cat in 2021 and 2022, respectively. As per the American Pet Products Association, Americans spent US$ 136.8 billion on their pets in 2022, a 10.68% increase from 2021 (i.e., US$ 123.6 billion).

In the US, specific veterinary diagnostics are regulated and dependent on the US Department of Agriculture-Center for Veterinary Biologics (USDA-CVB) for approval. These involve veterinary diagnostic kits intended to diagnose pathogens in animals undergoing treatment. USDA-CVB are point-of-care diagnostics for testing feline leukemia virus (FeLV), canine parvovirus, canine heartworm, and other viruses. The National Veterinary Services Laboratories provide diagnostics services for animals, and it offers a wide range of diagnostic services and information centered around the diagnosis of domestic and foreign animal diseases. The laboratory is also involved in the support of disease control and eradication programs. It produces reagents for diagnostic testing and offers training and laboratory certification. Similarly, there are presence other private laboratories affiliated to the American Association of Veterinary Laboratory Diagnosticians. For instance, the Wisconsin Veterinary Diagnostic Laboratory offers a broad range of diagnostic services to the production, companion, and exotic animal industries.

The presence of strong players in the US is further augmenting the market growth. For instance, Zoetis Inc. is among the market leaders involved in the development, manufacturing, and marketing of veterinary point-of-care diagnostic instruments and consumables. It also offers immunodiagnostic products to help detect viruses, bacteria, antibodies to viruses, and bacteria through antigen–antibody reactions. 

Companion Animal Diagnostics Market Report Scope

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Industry Developments and Future Opportunities: 

Various initiatives by key players operating in theCompanion Animal Diagnostics Market are listed below:

1. In October 2023, Basepaws launched the most extensive DNA test for dogs, focused on health and early detection of disease risk. Basepaws Breed + Health Dog DNA Test assists pet owners in shifting from reactive to proactive care by providing simple swabbing and mobile-friendly results for a more convenient experience.
2. In September 2023, Zoetis Inc completed the acquisition of Jurox, a privately held animal health firm that develops, manufactures, and markets a diverse range of veterinary pharmaceuticals for the treatment of livestock and companion animals. With the purchase of Jurox, Zoetis gains a number of critical medicines poised for global expansion; a valuable animal health portfolio, including Alfaxan, a leading anesthetic product for companion animals; and high-quality local R&D and manufacturing capabilities in Australia.  

Competitive Landscape and Key Companies:

A few prominent players operating in the companion animal diagnostics market are Demeditec Diagnostics GmbH, ARI Medical Technology Co Ltd, Tianjin LOCMEDT Technologies Co Ltd, Heska Corp, Innovative Diagnostics SAS, i-SENS Inc, Universal Biosensors Inc, Immunology Consultants Laboratory Inc, Zoetis Inc, and Elabscience Biotechnology Inc. These companies focus on new product launches and geographic expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. Their global presence allows them to serve a large base of customers, subsequently facilitating market expansion.