Companion Animal Diagnostics Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024-2030)

Companion Animal Diagnostics Market Size

Companion Animal Diagnostics Market Trends & Drivers

• Although many animals like cats and dogs are human companions for more than 10,000 years, they still can be a source of infectious diseases due to various zoonotic pathogens. There are a lot of zoonoses, which are emerging and re-emerging, such as rabies, cowpox, noroviruses, rotaviruses, and influenza, which can sicken pets and then be transmitted to humans. Cutaneous contamination with methicillin-resistant Staphylococcus aureus or aerosolization of bacteria can cause tuberculosis or kennel cough, which is also an emerging pathogen.
• According to the Centers for Disease Control and Prevention, 6 out of every 10 known infectious diseases in people can be spread from animals, and 3 out of every 4 new or emerging infectious diseases in people come from animals. Due to these factors, the market for companion animal diagnostics is increasing.
• Pet insurance is also one of the factors due to which the diagnostics market for companion animals is increasing. With the growing animal health expenditure, pet owners are shifting toward a comprehensive insurance plan for their pets, which covers many diseases or injuries as well as surgeries, hospitalization, or death, due to illnesses. Thus, consumers prefer these types of "comprehensive" insurance plans for their pets.
• According to the North American Pet Health Insurance Association (NAPHIA), the pet insurance industry in the region increased to USD 2.837 billion in 2021 from USD 2.175 billion in 2020, with a 30.5% y-o-y growth. The number of pets insured was over 4.41 million in 2021 as compared to 3.45 million in 2020, with an increase of 27.7%. Due to this increase, many players are showing their willingness to enter this market. For instance, Lemonade has launched products related to pet insurance on its website.

Companion Animal Diagnostics Market Analysis

Clinical Biochemistry Holds the Largest Share

• In the technology segment, the clinical biochemistry category accounted for the largest revenue share in 2022. Diseases and disorders that can be evaluated with the help of this technology include liver dysfunction, diabetes, renal failure, hypocalcemia or hypoglycemia, and hypoadrenocorticism or hypokalemia.
• The basic tests included in this method include total protein, albumin, urea, creatinine, alanine transaminase (ALT), alkaline phosphatase (ALP), glutamate dehydrogenase (GDH), gamma-glutamyl transferase (GGT), creatine kinase (CK), and aspartate transaminase (AST). These are the most important tests for evaluating old pets, diarrhea or toxin exposure, pets with vomiting, health before anesthesia, and pets receiving long-term medications.
• On the other hand, the immunodiagnostics category is expected to witness the fastest growth during the forecast period. This can be ascribed to the surging adoption of diagnostic products based on immunodiagnostic technology and advanced diagnostics immunoassay tests. These tests provide higher accuracy and are highly preferred by veterinary practitioners. Also, with the increasing usage of automated immunoassay instruments, the market in this category is projected to rise significantly.

Dog Category Dominates the Industry

• In the animal segment, the market is categorized into dog, cat, and others. Among these, the dog category held the largest share in 2022. This is due to the increasing population and adoption rate of dogs and the rising cases of zoonotic diseases in the world, which lead to the surging demand for veterinary visits and diagnostics for dogs.
• In 2023, the worldwide population of dogs is estimated to be around 900 million out of which around 470 million are pet dogs. With this huge and still increasing number, the need for diagnostics facilities for dogs will also rise, and thus, this will directly impact the industry in a positive manner.
• Cat is the second-largest category in the animal type globally and the largest in Europe due to the larger number of pet cats than dogs in the region. For instance, according to the European Pet Food Industry Federation (FEDIAF), there are 113 million pet cats in Europe as compared to 92 million pet dogs.

Clinical Pathology Accounts for the Largest Share

• Clinical pathology is the biggest category in the application segment. This is due to the increasing cases of chronic diseases in companion animals. Clinical pathology is one of the first steps for detecting these diseases in pets.
• Therefore, due to the emerging and re-emerging diseases in animals, the category dominates the market and it is expected to maintain the same trend during the forecasted period as well.
• For instance, according to the National Center for Biotechnology Information, the start of molecular pathology will create opportunities for pathologists not only in diagnosis but also to accurately predict and prevent diseases, and to participate in treatment, which will help the category to lead the industry in the future.

Geographical Analysis

North America is the largest market for animal diagnostics, accounting for a revenue share of 41% in 2022, and it is also projected to witness the fastest growth in the forecasted period. This is due to the growing population of companion animals, especially in the U.S.; the surging pet insurance; and the rising health expenditure on pets in the region. For instance, according to the American Pet Products Association (APPA), in the U.S., around 70% of households owned a pet, as of 2021.

In addition, the APAC companion animal diagnostics market will also grow significantly in the coming years and provide opportunities for players, due to the rising prevalence of various zoonotic diseases, the increasing awareness about animal health, and the surging income levels. Many initiatives are being taken by governments of developing countries for fighting disease outbreaks in animals. Also, players expanding in the region are going to witness profitable gains and will strengthen their position in the industry in the long run.

Report Breakdown

Based on Technology

• Immunodiagnostics
• Clinical Biochemistry
• Hematology
• Urinalysis
• Molecular Diagnostics

Based on Animal Type

• Dog
• Cat

Based on Application

• Clinical Pathology
• Bacteriology
• Virology
• Parasitology

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa

Top Companion Animal Diagnostic Players