Medical Newswire

Medical Newswire!

Medicine, Healthcare, Medical Research, Hospitals, Management
Press release distribution service
Home | Medical-Newswire.Com:

Companion Animal Diagnostics Market worth $3.8 billion by 2027

(Medical-NewsWire.com, July 11, 2022 ) The companion animal diagnostics market is projected to reach USD 3.8 billion by 2027 from USD 2.4 billion in 2022 at a CAGR of 9.6% during the forecast period.



The growth in this market is driven by the increasing companion animal population, rising adoption of pet insurance, growing animal health expenditure, and the increasing number of veterinary practitioners & their rising income level in developed countries.



The growing usage and demand for rapid tests and portable instruments for point-of-care (POC) services is offering new growth opportunities for companies in the companion animal diagnostics market. On the other hand, a lack of animal health awareness and a shortage of veterinarians in emerging markets pose significant challenges in the market.



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



“Molecular diagnostics is expected to witness the fastest growth companion animal diagnostics market during the forecast period.”



Based on technology, the companion animal diagnostics market is segmented into clinical biochemistry, immunodiagnostics, hematology, urinalysis, molecular diagnostics, and other companion animal diagnostic technologies. The molecular diagnostics segment is projected to register the highest CAGR during the forecast period. The high growth rate of this segment can be attributed to the results of the quick and reliable diagnostics.



Download PDF Brochure@

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=173823870



“Clinical Pathology segment is expected to witness the fastest growth in the forecast period.”



Based on application, the companion animal diagnostics market is segmented into clinical pathology, bacteriology, virology, parasitology, and other applications. Clinical pathology includes all primary diagnostic tests that utilize blood and other body fluids for efficient and accurate disease diagnosis and screening of animal health. In 2021, clinical pathology was the largest application segment in this market. One of the major factors driving the growth of this application segment is the high volume of clinical pathology tests performed on companion animals. This is because clinical pathology tests are recommended by veterinarians to evaluate the cause of diseases (in the case of chronic conditions) in companion animals.



“Dog segment accounted for the largest share of by animal type of companion animal diagnostics market in 2021”



Based on animal type, the companion animal diagnostics market is segmented into dogs, cats, horses, and other companion animals. Companion animal diagnostics for dogs accounted for the largest share of this market in 2021. The large share and high growth in this segment is attributed to factors such as the increasing dog population and ownership rate, the rising canine healthcare expenditure, and the increasing number of pet insurers across the globe.



“Asia Pacific region is expected to witness the fastest growth during the forecast period”



On the basis of region, the companion animal diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Asia Pacific region is projected to grow at a highest growth rate during the forecast period. Factors such as the rapidly increasing animal population, growing awareness about animal welfare, and the rising prevalence of zoonotic diseases are driving the growth of this regional market.



Key Market Players :



Key players in this market are adopting several organic and inorganic growth strategies (such as product launches, agreements, collaborations, acquisitions, and expansions). Some major players in this market are Idexx Laboratories, INC. (US), Zoetis, INC. (US), Heska Corporation (US), Thermo Fisher Scientific, INC. (US), Biomérieux SA (France), Virbac (France), Neogen Corporation (US), Fujifilm Holdings Corporation (Japan), Indical Bioscience GmbH (Germany), Idvet (France), Randox Laboratories, LTD. (UK), Shenzhen Mindray Animal Medical Technology Co., Ltd. (China), and BioNote, Inc (South Korea).



Request Sample Pages@

https://www.marketsandmarkets.com/requestsampleNew.asp?id=173823870

MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com


Medical Resources
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Healthcare resource center today to browse our selection of 600+ complimentary Healthcare magazines, white papers, webinars, podcasts, and more. Get popular titles including:

Eyecare Business
Medical Laboratory Observer
FierceHealthcare

No credit cards, coupons, or promo codes required. Try it today!

Medical Sponsors

Health News


Pharmanewswire.com is part of GropWeb Network, online properties of GroupWeb Media LLC. Copyright © GroupWeb Media LLC. All Rights Reserved.

For unlimited press release distribution for $99 per month, call (281) 645-4086 or start posting your press releases online at EmailWire.com. CityRegions.Com is part of GropWeb Network, online properties of GroupWeb Media LLC. Copyright © 2012 GroupWeb Media LLC. All Rights Reserved.


GroupWeb Media Network
AfricaNewswire.Net | AppleNews247.Com | AsiaNewsWire.Net | Aviation-NewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | EuropeNewsWire.Net | iCameroon.com | i-Canada-News.Com | i-SoftwareNews.com | iT-NewsWire.Com
| InvestorsNewsDesk.Com | i-TravelNewsWire.Com | LegalLaw247.com | Medical-NewsWire.com | MiningNewsWire.net | MoneyNewsWire.Net | Movie-Stars-News.Com | PayDayNews247.Com | PharmaNewsWire.Com | Publishing-NewsWire.Com | Shopping-NewsWire.com | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com |
Medical-Newswire.com - Medicl Newswire and Press Release service of GroupWeb Media LLC