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Companion Animal Diagnostics Market Worth $4.18 Billion by 2029 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

REDDING, Calif., July 25, 2022 /PRNewswire/ -- According to a new market research report titled, 'Companion Animal Diagnostics Market by Product [Consumables (Leukemia, Heartworm, Influenza), System, Software], Technology [ELISA, PCR, Hematology, Urinalysis], Animal Type [Canine, Feline], End User (Point of Care, Hospital), and Geography - Global Forecast to 2029,' published by Meticulous Research®, the Companion Animal Diagnostics Market is expected to grow at a CAGR of 9.8% from 2022 to 2029 to reach $4.18 billion by 2029.

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A major factor contributing to the growth of the companion animal diagnostics market is the increasing prevalence of diseases in companion animals, such as diabetes mellitus & heartworm disease, which are the most common diseases diagnosed in dogs and cats. Diabetes mellitus is a chronic disease that requires lifelong treatment, medication, and proper monitoring. Dogs are more commonly diagnosed with Type I diabetes mellitus. Approximately 80% of diabetic cats suffer from Type 2-like diabetes, while the remaining 20% suffer from Type 1 diabetes. According to the U.S. State of Pet Health 2018 report, the prevalence of diabetes mellitus in felines increased from 67.6 cases per 10,000 in 2015 to 94 cases per 10,000 in 2018, with a total increase of 39.1%. The prevalence of diabetes mellitus in dogs increased from 23.6 cases per 10,000 in 2015 to 38 cases per 10,000 in 2018, a total increase of 61.0%.

Apart from diabetes, heartworm disease is also one of the most common fatal diseases in pets, especially dogs. Heartworms inside dogs mature, mate, and reproduce as dogs are natural hosts for these worms. Dogs are found to be infected by several hundreds of worms at times, causing them serious problems like heart failure, lung disease, and damage to other organs.

According to the Cornell University College of Veterinary Medicine (U.S.), feline leukemia virus (FELV) causes one of the most common infectious diseases in cats and affects around 2–3% of all cats in the U.S. This virus is transmitted among cats through saliva and urine, and also to kittens by their mothers via milk or in the womb. Diagnostic tests are easy to use and provide accurate results, helping diagnose heartworms and other diseases in pets. Therefore, the increasing prevalence of diseases in animals generates demand for diagnostic testing kits, driving the growth of the companion animal diagnostics market.

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Emerging countries in the Asia-Pacific region offer high growth opportunities for companion animal diagnostic manufacturers due to the rising incidence of various zoonotic diseases, rising awareness about animal health, and increasing income levels.

Furthermore, the government bodies of developing countries are undertaking several campaigns and schemes to combat animal disease outbreaks. For instance, in August 2019, Boehringer Ingelheim International GmbH , a world-leading animal health company, opened its Boehringer Ingelheim Health Management Centre (HMC) in China to integrate animal disease and health diagnostics and monitor tools to maintain and enhance animal health. In addition, in August 2018, Shandong University approved a proposal to create an EcoHealth/One Health Institute in China with Chinese and international professionals from varied veterinary and environmental health disciplines. The aim of creating an EcoHealth/One Health Institute is to tackle major and complex animal health concerns in China.

Companion Animal Diagnostics Market: Future Outlook

The global companion animal diagnostics is segmented by Product [Consumables (Heartworm, Leukemia, Influenza, Other Diseases), System, Software], Technology [Immunodiagnostics, Molecular Diagnostics, Hematology, Urinalysis, Clinical Biochemistry, Other Technologies], Animal Type [Dogs, Cats, Other Companion Animals], and End User [Reference Lab, Veterinary Hospital, In-house/PoC Testing]. The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on products, in 2022, the consumables segment is estimated to account for the largest share of the companion animal diagnostics market. Factors attributing to the largest share of this segment include frequent use and availability of a diverse range of reagents and consumables for various diseases. Additionally, the growing awareness regarding regular animal health check-ups and the emergence of various POC tests and assays are further expected to expand the portfolio of these consumables.

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Based on technology, in 2022, the immunodiagnostics segment is estimated to account for the largest share of the companion animal diagnostics market. Factors contributing to the large share of this segment include a higher preference for immunodiagnostics tests by veterinary practitioners due to their relatively lower cost and high accuracy standards; the increasing usage of miniaturized devices; the emergence of advanced diagnostic immunoassay formats; and the rising trend of automation in immunoassay instruments.

Based on end user, in 2022, the diagnostic laboratories segment is estimated to account for the largest share of the companion animal diagnostics market. The growing adoption of animal diagnostic products by reference laboratories, the rising number of samples analyzed in reference laboratories, and the growing preference for diagnostic services offered by reference laboratories are the major factors driving the growth of this segment. Companies are focusing on acquisitions of the reference laboratories by looking at the increasing awareness amongst people regarding zoonotic diseases and the adoption of services offered by the reference laboratories. For instance, in February 2020, Zoetis Inc. (U.S.) acquired Ethos Diagnostic Science (U.S.), a veterinary reference lab business, to offer comprehensive and enhanced value solutions to veterinarians in the U.S.

Based on geography, in 2022, North America is expected to dominate the global companion animal diagnostics market, followed by Europe and Asia-Pacific. The increased public awareness about animal health, large consumer base, and acceptance of novel approaches that provide robust results in a short time for companion animal diagnosis are the factors contributing to the growth of the North American Companion Animal Diagnostics Market.

Some of the key companies operating in the global companion animal diagnostics market are IDEXX Laboratories, Inc. (U.S.), Zoetis Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Heska Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), bioMérieux S.A. , INDICAL BIOSCIENCE GmbH , Agrolabo SpA , Neogen Corporation (U.S.), and IDvet .

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Scope of the Report:

Companion Animal Diagnostics Market, by Product

  • Consumables
    • Heartworm Diseases
    • Leukemia
    • Other Diseases

(Other diseases include anemia, influenza, immunodeficiency, leptospirosis, giardia, canine parvovirus, lyme disease, rabies, and COVID-19)

  • Systems/Instruments
  • Software

Companion Animal Diagnostics Market, by Technology

  • Immunodiagnostics
    • ELISA
    • Other Immunodiagnostic Technologies

(Other immunodiagnostic technologies include lateral flow, hemagglutination inhibition, and agar gel immunodiffusion tests)

  • Clinical Biochemistry
  • Molecular Diagnostics
    • PCR
    • Other Molecular Diagnostics Technologies

(Other molecular diagnostic tests include microarrays, Next-generation Sequencing, and DNA sequencing)

  • Hematology
  • Urinalysis
  • Other Technologies

(Other technologies comprise microbiology and histopathology tests)

Companion Animal Diagnostics Market, by Animal Type

  • Dogs
  • Cats
  • Other Companion Animals

(Other companion animals comprise rabbits, birds, reptiles, snakes, and other small animals)

Companion Animal Diagnostics Market, by End User

  • Reference Laboratories
  • Veterinary Hospitals
  • POC/In-house Testing

Companion Animal Diagnostics Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
    • Japan
    • China
    • India
    • Rest of APAC (RoAPAC)
  • Latin America
  • Middle East & Africa

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About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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