Global Companion Animal Diagnostic Market, By Technology (Immunodiagnostics, Clinical Biochemistry, Hematology, Urinalysis, Molecular Diagnostics, Others), Application (Clinical Pathology, Bacteriology, Virology, Parasitology, Other Applications), Animal Type (Dogs, Cats, Horses, Other Companion Animals), End User (Laboratories, Veterinary Hospitals and Clinics, Point-Of-Care/In-House Testing, Research Institutes and Universities), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Companion animal diagnostic market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 2913.01 million by 2028 growing at a CAGR of 6.34% in the above-mentioned forecast period. The growing awareness amongst the physicians and patients regarding the benefits of companion animal diagnostic which will further create lucrative opportunities for the growth of the market.
Companion animals are pets kept for the safety of a person, company, property or home. Such animals help to deter theft and to create a healthy environment. In the lives of many, service animals play an important part, offering a sense of belonging and obligation. The most widely used products for animal health are animal health products, especially feed.
Increasing growth in the companion animal population, rising emphasis on animal healthcare and vaccination as well as demand of animal healthcare products, increasing levels of disposable income of the people, increase in the demand of companion animal healthcare, rising demand for pet insurance, increasing number of veterinary practitioners are some of the major as well as vital factors which will likely to augment the growth of the companion animal diagnostic market in the projected timeframe of 2021-2028. On the other hand, rising usages of advanced technologies to improve disease diagnosis accuracy along with increasing demand for rapid tests and portable instruments for point-of-care (PoC) diagnostic services which will further contribute by generating massive opportunities that will lead to the growth of the companion animal diagnostic market in the above mentioned projected timeframe.
Increasing cost of pet care along with lack of veterinarians in developing economies which will likely to act as market restraints factor for the growth of the companion animal diagnostic in the above mentioned projected timeframe. Lack of animal healthcare awareness will become the biggest and foremost challenge for the growth of the market.
This companion animal diagnostic market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on companion animal diagnostic market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Companion Animal Diagnostic Market Scope and Market Size
Companion animal diagnostic market is segmented on the basis of technology, application, animal type and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on technology, the companion animal diagnostic market is segmented into immunodiagnostics, clinical biochemistry, hematology, urinalysis, molecular diagnostics, and others. Clinical biochemistry has been further segmented into clinical chemistry analysis, glucose monitoring, and blood gas and electrolyte analysis. Clinical chemistry analysis has been further sub segmented into clinical chemistry reagent clips and cartridges, and clinical chemistry analyzers. Glucose monitoring has been further sub segmented into blood glucose strips, glucose monitors, and urine glucose strips. Blood gas and electrolyte analysis has been further sub segmented into blood gas and electrolyte reagent clips and cartridges, and blood gas and electrolyte analyzers. Immunodiagnostics have been further segmented into lateral flow assays, ELISA tests, allergen-specific immunodiagnostic tests, immunoassay analyzers, and other immunodiagnostic products. Lateral flow assays have been further sub segmented into rapid tests, and strip readers. Other immunodiagnostic products have been further sub segmented into agglutination tests, fluorinated agglutination tests, immunohistochemistry, Western blot tests, non-infection immunoassays, complement fixation, agar gel immunodiffusion, and serum/virus neutralization. Hematology has been further segmented into cartridges, and analyzers. Urinalysis has been further segmented into clips and cartridges/panels, urine analyzers, and urine test strips. Molecular diagnostics have been further segmented into polymerase chain reaction tests, microarrays, and other molecular diagnostic products. Others have been further segmented into microbiology tests and histopathology tests.
- On the basis of application, the companion animal diagnostic market is segmented into clinical pathology, bacteriology, virology, parasitology, and other applications. Other applications have been further segmented into pregnancy testing, genetic testing, and toxicology testing.
- Based on animal type, the companion animal diagnostic market is segmented into dogs, cats, horses, and other companion animals. Other companion animals have been further sub segmented into rabbits, reptiles, pet fish, and birds.
- Companion animal diagnostic market has also been segmented based on the end user into laboratories, veterinary hospitals and clinics, point-of-care/in-house testing, and research institutes and universities.
Companion Animal Diagnostic Market Country Level Analysis
Companion animal diagnostic market is analysed and market size insights and trends are provided by country, technology, application, animal type and end user as referenced above.
The countries covered in the companion animal diagnostic market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the companion animal diagnostic market due to the prevalence of major animal health and diagnostic companies along with rapid developments of advanced bioreactors, reagents and consumables, and other bioprocess equipment in the region, while Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2021 to 2028 due to the development of innovative value-added products along with increasing research and development activities in the region.
The country section of the companion animal diagnostic market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Companion animal diagnostic market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for companion animal diagnostic market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the companion animal diagnostic market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Companion Animal Diagnostic Market Share Analysis
Companion animal diagnostic market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to companion animal diagnostic market.
The major players covered in the companion animal diagnostic market report are IDEXX; Zoetis; Heska Corporation; Thermo Fisher Scientific Inc.; Virbac.; NEOGEN CORPORATION; BIOMÉRIEUX SA; INDICAL BIOSCIENCE GmbH.; FUJIFILM Holdings America Corporation; IDvet; Randox Laboratories Ltd.; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; SKYLA CORPORATION; BIONOTE Co., LTD.; scil animal care company GmbH; Urit Medical Electronic Co., Ltd.; Eurolyser Diagnostica GmbH; Nova Biomedical; Fassisi; Swissavans AG.; among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.