Pet diagnostics market size worth $5.10

Jersey City, New Jersey, Aug. 30, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently released a report, “pet diagnostics market” By Technology (Immunodiagnostic Tests, Molecular Diagnostics), By Animals (Cats, Dogs), By Application (Bacteriology, Parasitology, Clinical Pathology), and By Geography. According to Verified Market Research, the Companion Animal Diagnostics market size was valued at USD 2.13 Billion in 2021 and is projected to reach USD 5.10 Billion by 2030, growing at a CAGR of 8.2% 2022 to 2030.

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Global Pet Diagnostics Market Overview

The demand for companion animal diagnostics is expected to increase alongside the demand for full and semi-automated diagnostic tests. Automating testing will lead to greater productivity and inefficient management of large sample volumes. The tests are affordable and cover a variety of illnesses. In addition, increased use of blood glucose monitoring equipment to detect diabetes at an early stage is expected to further accelerate growth.

The development of in vitro diagnostic tools and imaging systems has been facilitated by the introduction of microfluidics and miniaturization, among other factors, and is expected to further drive the expansion of companion animal diagnostics. The pet diagnostics market is expected to continue to expand due to the growing demand for point-in-time diagnostics (POCD). POCD offers rapid clinical test results and can be assessed immediately, saving time. The global promotion of veterinary services is driven by government organizations, which is expected to fuel the expansion of the market over the forecast period.

Key developments

  • In December 2021, NEOGEN acquired Genetic Veterinary Sciences, Inc., which expanded opportunities for NEOGEN Corporation’s global genomics business.
  • In September 2021, Heska Corporation acquired Biotech Laboratories. This acquisition strengthened the company’s Rapid Assay Point of Care Diagnostics portfolio.
  • In January 2021, this acquisition strengthened the company’s portfolio of point-of-care digital cytology technologies and telemedicine services.

Key players

The major market players are Idexx Laboratories, INC. (USA), Zoetis, INC. (USA), Heska Corporation (USA), Thermo Fisher Scientific, INC. (United States), Biomérieux SA (France), Virbac (France), Neogen Corporation (United States), Fujifilm Holdings Corporation (Japan), Indical Bioscience GmbH (Germany), Idvet (France), Randox Laboratories, LTD. (UK), Shenzhen Mindray Animal Medical Technology Co., Ltd. (China), Honeywell International Inc and BioNote, Inc (South Korea).

Verified Market Research has segmented the global pet diagnostics market on the basis of technology, animals, applications, and geography.

  • Companion Animal Diagnostics Market, By Technology
    • Immunodiagnostic tests
    • Molecular diagnostics
    • Diagnostic Imaging
    • Other diagnoses
  • Companion Animal Diagnostics Market, By Animals
  • Companion Animal Diagnostics Market, By Application
    • Bacteriology
    • Parasitology
    • Clinical pathology
    • Other
  • Companion Animal Diagnostics Market, By Geography
    • North America
    • Europe
      • Germany
      • France
      • UK
      • The rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia-Pacific
    • LINE
      • Middle East and Africa
      • Latin America

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