Global Companion Animal Diagnostics Market Growth (Status and Outlook) 2024-2030

Global Companion Animal Diagnostics Market Growth (Status and Outlook) 2024-2030

According to our LPI (LP Information) latest study, the global Companion Animal Diagnostics market size was valued at US$ 2039.6 million in 2023. With growing demand in downstream market, the Companion Animal Diagnostics is forecast to a readjusted size of US$ 3704.8 million by 2030 with a CAGR of 8.9% during review period.

The research report highlights the growth potential of the global Companion Animal Diagnostics market. Companion Animal Diagnostics are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Companion Animal Diagnostics. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Companion Animal Diagnostics market.

Companion Animal Diagnostic provide a competitive, fully interpreted, quality assured, accredited (UKAS ISO 17025 certification) clinical pathology/pathology service for companion animals including canine, feline, equine, avian, small mammals and exotics.

Pet medical care is the second largest segment in pet industry. In the UK, annual spending on veterinary and other pet services has risen from £2.6bn in 2015 to £4bn in 2021, a 54% increase in just six years. According to Vetnosis, the value of the global animal health industry will increase by 12% to $38.3 billion in 2021. White Paper on China's Pet Healthy Consumption of JD shows that in 2023, there are 13.09 million pets entering middle age and old age. And pet aging is expected to be seen in the next few years. Changes in the age structure of pets will further bring about the development of the pet medical industry. According to the data of the 2022 China Pet Medical Industry White Paper, from the perspective of market size, the scale of China's pet medical market is about ¥67.5 billion, accounting for about 22.5% of the entire pet industry. From the perspective of hospital operation time, pet hospitals within 5 years accounted for about 73%. About 11% of the pet hospitals have been in operation for more than 10 years. From the perspective of hospital turnover, nearly 40% of the hospitals have increased their annual turnover year-on-year, and the growth rate is mainly within 17%.

Key Features:

The report on Companion Animal Diagnostics market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Companion Animal Diagnostics market. It may include historical data, market segmentation by Type (e.g., Clinical Biochemistry, Urinalysis), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Companion Animal Diagnostics market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Companion Animal Diagnostics market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Companion Animal Diagnostics industry. This include advancements in Companion Animal Diagnostics technology, Companion Animal Diagnostics new entrants, Companion Animal Diagnostics new investment, and other innovations that are shaping the future of Companion Animal Diagnostics.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Companion Animal Diagnostics market. It includes factors influencing customer ' purchasing decisions, preferences for Companion Animal Diagnostics product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Companion Animal Diagnostics market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Companion Animal Diagnostics market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Companion Animal Diagnostics market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Companion Animal Diagnostics industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Companion Animal Diagnostics market.

Market Segmentation:

Companion Animal Diagnostics market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.

Segmentation by type

Clinical Biochemistry

Urinalysis

Immunodiagnostic

Hematology

Molecular Diagnostics

Segmentation by application

Clinical Pathology

Bacteriology

Parasitology

This report also splits the market by region:

Americas
United States
Canada
Mexico
Brazil

APAC
China
Japan
Korea
Southeast Asia
India
Australia

Europe
Germany
France
UK
Italy
Russia

Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

IDEXX Laboratories

Zoetis

Thermo Fisher Scientific

Virbac

Heska Corporation

Neogen Corporation

bioMérieux SA

IDvet

INDICAL Bioscience GmbH

Randox Laboratories

Please note: The report will take approximately 2 business days to prepare and deliver.