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Companion Animal Diagnostics Market- Opportunity & Forecast, 2027

Companion Animal Diagnostics Market Size ByTechnology (Clinical Biochemistry, Urinalysis, Immunodiagnostic, Hematology, Molecular Diagnostics), Application (Clinical Pathology, Bacteriology, Parasitology), Animal (Dog, Cat, Horses), By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America), Forecast & Opportunities, 2015-2027

Product Overview:

Companion Animal Diagnostics primarily consists of technology such as Clinical Biochemistry, Urinalysis, Immunodiagnostic, Hematology, Molecular Diagnostics used in application such as clinical pathology, bacteriology, parasitology, etc. clinical biochemistry is the most widely used technology to diagnosis companion animal for detecting various diseases and disorders. Compared to other technology, clinical biochemistry is given more preference by the pet owners and veterinarians, thus making it a high demand product in the animal diagnostic gamut.

Marker Overview:

  • Global Companion Animal Diagnostics Market is projected to expand with a CAGR of 9.9% during the forecast timeline, 2019 to 2027. 
  • The Companion Animal Diagnostics market valued over USD 1.6billion in 2018 and is poisedto expand with a CAGR of over 9% during the forecast period to reach a market value over USD 3 billion by the end of 2027
  • Companion Animal Diagnostics market revenue is largely generated from application in clinical pathology. In 2018, a large majority of market value was generated from clinical pathology application segment. Owing to its large quantity and frequent purchase of consumables used for clinical pathology testing.
  • Dog diagnostics market account for largest share among all animal categories, owing to high number of pet dogs and increasing incidence of dog diabetes, cancer and other major diseases. Dog diagnostic market is estimated to expand with a CAGR of over 10% during the forecast period.
  • North America Companion Animal Diagnostics market accounted for largest market share in 2018 owing U.S Companion Animal Diagnostics market which dominates the industry in North America region with a market share of more than 85% in 2018.
  • Asia Pacific Companion Animal Diagnostics market is poised to expand with exponential growth rate of more than 11% during the projection timeframe due to rising adoption companion animals, high disposable income of pet owners and increasing awareness about diagnostic tests.

Research Scope:

On the basis of technology, the Companion Animal Diagnostics Market is segmented into;Technology (Clinical Biochemistry, Urinalysis, Immunodiagnostic, Hematology, Molecular Diagnostics), Application (Clinical Pathology, Bacteriology, Parasitology), Animal (Dog, Cat, Horses). Finally, the market is segmented into region wise which includes North America, Europe, and Asia Pacific, Middle East & Africa and Latin America and their respective countries.

Years considered for this report:

  • Historical Years: 2015 – 2018
  • Base Year: 2019
  • Forecast Period: 2020 – 2027

Research Methodology

The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Extensive secondary research was conducted using paid data sources including Bloomberg, Factiva, Capital IQ, OneSource, and Hoovers. Additionally, several publicly-available data sources were used including journals, statistics articles, and industry associations. These data sources were used to gather relevant information to develop an understanding of the market. The research was conducted covering the desk research and primary research. Data sources used for primary research included online forums and blogs, CATI/CAWI, CAPI interviews, and video conferences. Additionally, interviews were conducted through connecting with various industry respondents including C-level executives, directors, divisional heads, regional heads, expert consultants, and independent consultants.

Primary research involves telephonic interviews, e-mail interactions and face-to-face interviews for detailed and unbiased reviews on the air purifier market across geographies. Primary interviews are usually conducted on an on-going basis with industry experts and participants in order to get the latest market insights and validate the existing data and analysis. Primary interviews offer information on important factors such as market trends, market size, competitive landscape, growth trends, and outlook. These factors help to validate and strengthen secondary research findings and also help to develop the analysis team’s expertise and market understanding.

Competitive Market Players:

The Companion Animal Diagnostics Market is dominated by the presence of a few key players operating globally, which includesIDEXX Laboratories, Inc., Zoetis, Inc. Virbac, Heska Corporation, Thermo Fisher Scientific, Inc., Neogen Corporation, bioMérieux SA, IDvet , INDICAL Bioscience GmbH, QIAGEN N.V. , and Randox Laboratories Ltd among others

Key Questions Answered in this Report:

  • What is the global Companion Animal Diagnostics market size in terms of revenue from 2014-2027, and what is the expected growth rate during the forecast period 2019-2027? 
  • What is the revenue generated by different types of Companion Animal Diagnostics at a global and regional level?
  • What is the revenue generated by Companion Animal Diagnostics based on different segments at a global and regional level?
  • What is the revenue generated by Companion Animal Diagnostics based on different end users at a global and regional level?
  • What is the market size and what are the various market opportunities of Companion Animal Diagnostics across different regions?
  • What are the major driving forces that are expected to increase the demand for the Companion Animal Diagnostics market during the forecast period?
  • What are the major challenges inhibiting the growth of the global Companion Animal Diagnostics market?
  • Which are the major stakeholders in terms of their contribution and impact in the Companion Animal Diagnostics ecosystem?
  • What type of new strategies is adopted by the existing market players to expand their market position in the industry?
  • What is the regulatory landscape in different regions for Companion Animal Diagnostics?
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