Top Companies in Companion Animal Diagnostics Market

The companion animal diagnostics market is projected to reach USD 4.55 billion by 2029 from USD 2.99 billion in 2024 at a CAGR of 8.8% during the forecast period. The increasing trend of pet ownership in developed regions such as North America and Europe has made the demand for companion animal diagnostics. Pets have been integrated into families as family members, creating emotional bonding that makes owners willing to spend on their health care. This change in perspective has led to a shift in spending on veterinary care, preventive treatments, and advanced diagnostics. There is an echo in the interest in pet health with human healthcare trends: the constant check-ups and vaccinations, the wellness plans, all part of keeping their companions living healthier, longer lives. With pets being considered part of the family, the need for high-tech diagnostics, including blood tests, imaging scans, and genetic screening, has grown sharply. This is also matched by the growth of veterinary clinics and hospitals that provide high-quality services. This growing bond fosters further developments and progress in the animal companion health care industry of the whole world. Advanced diagnostic tests, including molecular diagnostics, often incur a cost that limits access for pet owners, especially in low-income regions. This may restrain market growth.

In this report, the companion animal diagnostics market has been segmented on the basis of product, technology, animal type, application, end user and region.

To know about the assumptions considered for the study download the pdf brochure

Prominent players in this market include IDEXX (US), Zoetis Services LLC (US), Mars, Incorporated (US), FUJIFILM Corporation (Japan), bioMérieux (France), Thermo Fisher Scientific Inc (US), Virbac (France), Neogen Corporation (US), INDICAL BIOSCIENCE GmbH (Germany), IDvet (France), Randox Laboratories Ltd. (UK), Shenzhen Mindray Animal Medical Technology Co., LTD. (China), Bionote USA Inc. (US), Boule (Sweden), EUROIMMUN Medizinische Labordiagnostika AG (Germany), Biopanda Reagents Ltd (UK), Nova Biomedical (US), Megacor Veterinary Diagnostics (Austria), Eurolyser Diagnostica GmbH (Austria), URIT MEDICAL ELECTRONIC CO., LTD. (China), Fassisi GmbH (Germany), Swissavans AG (Switzerland), Skyla Corporation (Taiwan), Ring Biotechnology Co Ltd (China), and Alvedia (France).

IDEXX (US)

IDEXX is one of the major companies in the companion animal diagnostics market, which develops, manufactures, and markets products & services primarily for the companion animal, veterinary, livestock and poultry, dairy, and water testing markets. The company focuses more on identification & consummation of acquisitions that will either enhance existing businesses or develop new businesses.IDEXX mainly concentrates on strengthening its product line through new product development and investing in R&D. The company increased investments for R&D activities in the CAG segment to USD 236.2 million in 2022 from USD 140.6 million in 2021, which rose at a rate of 67.2%. By retaining premium pricing on selective segments, the company is able to continue its delivery of higher-quality products to customers.

ZOETIS SERVICES LLC (US)

Zoetis is one of the leading companies in the veterinary care market. As part of its growth strategy, Zoetis focuses on the discovery & development of new chemical, biopharmaceutical, and biological entities besides product lifecycle innovation through its R&D group. The company has R&D operations focusing on diagnostics, devices, data, digital, and other technological innovations. In 2023, Zoetis spent USD 614 million, in 2022, it had spent USD 539 million on R&D, and in the year 2021 it had spent USD 508 million. To sustain its market share in the companion animal diagnostics market, the company utilized different organic & inorganic growth strategies. One such example is that it introduced Vetscan OptiCell (Analyzer) in May 2024. The Vetscan OptiCell is cartridge-based Al-powered hematology analyzer which offers advanced Complete Blood Count (CBC) analysis. In 2021, Zoetis entered Canada, Spain, Germany, Italy, Netherlands, Belgium, and Luxembourg.

Mars, Incorporated (US)

Mars, Incorporated has a long list of products offered under the Petcare segment. For several years, the company has always expanded its services by acquisitions. Given its vast scope of services ranging from veterinary care and diagnostic tests, the company can comfortably cope with the growing need for animal healthcare services. The other strong feature of the company is its powerful presence globally. It has developed an efficient distribution network across regions and markets that it taps to reach a broad, diversified customer base. It is highly represented in North America with more than veterinary health services, including veterinary and diagnostic businesses in 15 countries.

Related Reports:

Companion Animal Diagnostics Market by Product (Consumables, Instruments), Technology (Clinical Biochemistry, Hematology), Application (Clinical Pathology, Virology), Animal (Dogs, Cats, Horses), End User (Diagnostic Laboratories) - Global Forecast to 2029

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA : 1-888-600-6441
sales@marketsandmarkets.com