(MENAFN- EIN Presswire) Companion Animal Diagnostics market Research, 2031
Rise in the prevalence of zoonotic diseases in animals, surge in technological advancements in point-of-care diagnostics.” - Onkar SumantPORTLAND, OREGON, UNITED STATES, April 14, 2023 /einpresswire.com / -- companion animal diagnostics market refers to the industry that provides tests and tools to help veterinarians diagnose and monitor the health of pets, such as cats, dogs, and horses. These diagnostics may include blood tests, imaging tests, and genetic tests that aid in detecting diseases, infections, and other health conditions in animals. The market is driven by the increasing demand for pet healthcare and the growing number of pet owners worldwide.
The global Companion Animal Diagnostics Market size was valued at $2.99 billion in 2021, and is projected to reach $6.88 billion by 2031, growing at a CAGR of 8.6% from 2022 to 2031.
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The companion animal diagnostics market is segmented into different categories based on the type of test or tool used for diagnosis, the animal species being tested, and the end-users such as veterinary clinics, diagnostic laboratories, and research institutes. Some common segments in the market include:
Diagnostic Imaging: This segment includes tests such as X-rays, ultrasound, and MRI scans used to examine internal organs and structures in animals.
Clinical Biochemistry: This segment involves the use of blood and urine tests to measure various biochemical parameters and detect diseases in animals.
Hematology: This segment includes blood tests to examine the cellular components of blood, such as red blood cells, white blood cells, and platelets.
Immunodiagnostics: This segment involves the use of antibody-based tests to detect infectious agents, such as bacteria and viruses, in animals.
Molecular Diagnostics: This segment includes tests that analyze DNA and RNA to detect genetic disorders, infectious diseases, and cancer in animals.
End-users: This segment includes veterinary clinics, diagnostic laboratories, and research institutes that use companion animal diagnostics to provide medical care to animals, diagnose diseases, and conduct research.
Covid-19 scenario:
Increase in the number of Covid-19 infections in animals had alarmed various veterinary organizations across the world to evaluate specimens for diagnosis from domesticated as well as companion animals for the virus. This factor had a positive impact on the global companion animal diagnostics market. For example, according to the NCBI in 2020, around 40% of animals were diagnosed with the Covid-19 virus out of which 39% of dogs were affected in the United States.
Moreover, companion animals diagnosed with Covid-19 have been used for experimental testing of SARS-CoV-2 veterinary vaccines, which serves as a valuable model for screening vaccines and antiviral drugs. This factor has again boosted the market growth.
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North America garnered the major share in 2021-
Based on region, North America held the major share in 2021, generating nearly half of the global companion animal diagnostics market, owing to increase in the prevalence of chronic diseases among these animals. Asia-Pacific, simultaneously, would garner the fastest CAGR of 10.2% by 2031. This is due to surge in the population of companion animals, growing demand for diagnostics services from the livestock industry, and increasing expenditure to restore the health of the animals.
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Here are the top 10 key players in the companion animal diagnostics market:
Zoetis Inc.
IDEXX Laboratories, Inc.
Heska Corporation
Virbac
Abaxis, Inc.
Neogen Corporation
Thermo Fisher Scientific Inc.
Eurofins Scientific SE
VCA Inc.
IDvet
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