Companion Animal Diagnostics Market - By Technology (Immunodiagnostics {ELISA, Immunoassay Analyzers}, Clinical Biochemistry {Glucose Monitoring}, Hematology), By Animal (Dogs, Cats), By Application (Parasitology, Pathology), By End-use - Forecast to 2032

Companion Animal Diagnostics Market - By Technology (Immunodiagnostics {ELISA, Immunoassay Analyzers}, Clinical Biochemistry {Glucose Monitoring}, Hematology), By Animal (Dogs, Cats), By Application (Parasitology, Pathology), By End-use - Forecast to 2032

Companion Animal Diagnostics Market Size

Companion Animal Diagnostics Market size surpassed USD 5.5 billion in revenue in 2022 and is expected to grow at over 9.5% CAGR between 2023 and 2032 driven by increasing cases of zoonotic diseases in domestic animals.

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The product demand is primarily fueled by the growing trend of adopting pet animals. The mounting disposable income spent significantly on pet healthcare is projected to promote the companion animal diagnostics industry progress. According to the American Society for the Prevention of Cruelty to Animals, over 4 million shelter animals are adopted each year, while more than 6 million companion animals enter U.S. animal shelters.

Moreover, as per European Pet Food Industry Statistics, about 80 million households across the European Union owned at least one pet. The rising usage of pets in ad campaigns and films has further amplified pet adoption. Advancements in companion diagnostics are also driving market size.

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Prohibitive costs associated with animal tests may restrain industry progression

Despite a positive outlook for product adoption, the companion animal diagnostics market faces a major hurdle in the form of cost disparities associated with veterinary tests. These diagnostic tests are expensive as they need instruments, staff, overheads, and laboratory equipment to function smoothly. As pet owners are comparatively more concerned about their pet’s health and nutrition, they tend to invest in pet healthcare services & products to provide quality care. Furthermore, the excessive prices involved in breeding, housing as well as lengthy protocols of animal experiments are other major drawbacks.

Companion Animal Diagnostics Market Analysis

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With regard to technology, the companion animal diagnostics market from the immunodiagnostics segment is poised to register a valuation of more than USD 6.5 billion by 2032. An upsurge in multiple zoonoses, including leptospirosis, bovine ephemeral fever, viral respiratory tract infections, Johne's diseases, dermatophyte fungi, and infectious bovine rhinotracheitis, among others, in companion animals globally is fostering the use of immunodiagnostics technologies, such as ELISA, lateral flow assays, and immunoassay analyzers, due to their simplicity, high throughput capability, time & cost-efficiency, field portability, and others.

Based on end-use, the report cites that the companion animal diagnostics market from the veterinary clinics segment is estimated to garner a valuation of over USD 8 billion by 2032 propelled by the corporatization of veterinary clinics, which is leading to the emergence of business chains that boost access to quality veterinary services. The subsequent investments in veterinary clinics are further bolstering the veterinarians to provide access to advanced diagnostics to pet owners.

Companion animal diagnostics market from instruments segment is foreseen to reach a valuation of over USD 4.5 billion By 2032 owing to the prominent advantages of animal diagnostic instruments, such as relatively easy manufacturing, scalability, suitability in any environment, and quick diagnostics. Technologically sophisticated diagnostic tools for animals come with a variety of functions, including one-button analysis, independent operating systems, automatic & manual calibration, and so on. A veterinary analyzer provides an accurate reading for certain health conditions, such as changes in hormone (creatinine) levels, dehydration, electrolyte deficiency, or other illnesses. Moreover, this equipment helps the veterinarian observe variations in the animal's condition after therapy has begun.

The companion animal diagnostics market share from the bacteriology application segment is projected to expand at more than 10% CAGR over 2023-2032. The segment growth is supported by the prevalent adoption of animal diagnostics tests in detecting the presence of various bacterial animal diseases, such as Anthrax, Brucellosis, Campylobacteriosis, and Cryptosporidiosis, among others. As per a 2022 study, domestic animals are significantly more likely to contract bacterial sickness. Moreover, the effective application of cutting-edge technologies, such as PCR assays, incorporating molecular diagnostics & immunodiagnostics, is helpful in managing and avoiding bacterial animal illnesses.

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 Companion animal diagnostics market in North America is expected to grow at over 9% CAGR between 2023 and 2032 attributed to the high pet care expenditure, growing adoption of pets, and rising incidences of zoonotic diseases across the region. As per the American Pet Products Association's (APPA) 2021–2022 National Pet Owners Evaluation, approximately 90.5 million families accounting for 70% of households in the United States have a pet. Moreover, veterinary care spending in the U.S. increased to almost USD 32 billion in 2021.

Companion Animal Diagnostics Market Share

• Thermo Fischer Scientific Inc.
• Heska Corporation
• Zoetis
• IDEXX Laboratories
• Virbac
• Qiage
• Neogen Corporation

are some of the key participants involved in the companion animal diagnostics market. These companies are engaging in strategic acquisitions and collaborations to remain ahead in the market. For instance, in January 2023, Heska Corporation, a veterinary diagnostic provider, acquired LightDeck Diagnostics, an animal diagnostic firm. With this acquisition, the company aims to expand its R&D and manufacturing capabilities.

Impact of COVID-19 Pandemic

The companion animal diagnostics industry witnessed a positive impact during the COVID-19 pandemic as people opted for companion animal diagnostic test kits for ensuring the well-being of their pets. Numerous incidents were reported about infection of both zoo and domestic animals. For instance, research conducted in France and Spain suggested that the viral DNA was found in the nasopharyngeal swab of cats, dogs, rabbits, and guinea pigs, causing the COVID-19 infection in these animals. The pandemic has highlighted the prominence of animal diagnostics as a response to surging viral diseases as well as in promoting animal health.

Global Companion Animal Diagnostics Market research report includes in-depth coverage of the industry with estimates & forecasts in terms of USD Million from 2018 to 2032, for the following segments

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By Technology

• Immunodiagnostics
  • ELISA
  • Lateral Flow Assays
  • Immunoassay Analyzers
  • Other
• Clinical Biochemistry
  • Glucose Monitoring
  • Blood Gas & Electrolyte Analysis
  • Other
• Hematology
• Molecular Diagnostics
  • PCR
  • Microarrays
  • Others
• Urinalysis
• Others

 By Animal

• Dogs
• Cats
• Horses
• Others

By Product

• Instruments
• Consumables

By Application

• Bacteriology
• Parasitology
• Pathology
• Others

By End-use

• Veterinary Clinics
• Veterinary Hospitals
• Others

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Poland
  • Netherlands
  • Sweden 
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Thailand
  • Philippines
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Columbia
  • Chile
  • Peru
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Israel
  • Turkey