North America Companion Animals Diagnostics Market to Grow with a CAGR of 6.47% through 2029
Increased breed-specific health testing is expected to
drive the North America Companion Animals Diagnostics Market growth in the
forecast period, 2025-2029.
According
to TechSci Research report, “North America Companion Animals Diagnostics Market – Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2029F”, the North America Companion Animals Diagnostics
Market stood at USD 682.24 million in 2023 and is anticipated to grow with a
CAGR of 6.47% in the forecast period through 2029. One of the most significant
drivers of the companion animal diagnostics market in North America is the
ever-increasing pet ownership rates. The United States and Canada have a
long-standing tradition of pet ownership, with a significant portion of
households welcoming dogs, cats, and other companion animals into their lives.
The emotional bond between pet owners and their animals has grown stronger over
the years, leading to an increased willingness to invest in their pets' health.
This rising pet humanization trend has resulted in higher expenditures on
veterinary care, including diagnostics.
Companion
animals are no longer just pets; they are considered family members by many.
This shift in perspective has led pet owners to demand the same level of
healthcare for their animals as they do for themselves. They are more willing
to spend on diagnostics, treatments, and preventive care to ensure their pets
lead long and healthy lives. This humanization of pets has created a
substantial market for advanced diagnostic solutions that can address a wide
range of health concerns in companion animals. Advancements in veterinary
diagnostics technology have revolutionized the way veterinarians diagnose and
treat companion animals. The market now offers a wide array of cutting-edge
diagnostic tools, including in-house diagnostic equipment, diagnostic tests,
and imaging solutions that provide quicker and more accurate results. These
technological innovations have enabled veterinarians to offer a higher standard
of care and have increased the confidence of pet owners in their pets'
healthcare providers.
Cancer is a leading cause of mortality in North America. Companion Animals Diagnostics play a crucial role in cancer screening, diagnosis, and monitoring. Tests that analyze genetic mutations, tumor markers, and liquid biopsies provide essential information to oncologists, helping them determine treatment strategies and track the progress of cancer therapies. With advancements in cancer research, the Companion Animals Diagnostics market continues to expand to address this pressing need.
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Diagnostics Market”
The North America Companion Animals Diagnostics Market is
segmented into technology, animal
type, application, country distribution and company.
Based on the application, Clinical
Pathology stands out as dominant due to its pivotal role in diagnosing diseases
and monitoring overall health in both animals and humans. Clinical Pathology
involves analysing bodily fluids, tissues, and cells to detect abnormalities
indicative of various conditions. Its dominance stems from its broad
applicability across medical disciplines, providing insights into a wide range
of diseases and conditions. Advancements in technology have further empowered
Clinical Pathology, enabling faster and more accurate diagnoses, making it
indispensable in modern healthcare and veterinary medicine practices.
Based on country, United States
emerged as the dominant country in the North America Companion Animals
Diagnostics Market in 2023, holding the largest market share. The United States
indeed stands as one of the global leaders in companion animal ownership,
boasting a vast population of beloved pets ranging from dogs and cats to birds,
reptiles, and small mammals. This expansive array of domestic companions fuels
an immense demand for companion animal diagnostics throughout the country. With
millions of households welcoming these furry or feathered friends into their
lives, pet ownership has become deeply ingrained in American culture. Whether
for companionship, therapy, or assistance, pets play integral roles in the
lives of many Americans, creating a significant need for veterinary care and
diagnostic services. This cultural inclination towards pet ownership is evident
in the sheer number of households across the United States that include one or
more pets. Dogs and cats, in particular, reign as the most popular choices,
with their presence enriching countless families and communities nationwide. As
cherished members of the family, these animals receive the same level of
attention and care as their human counterparts, driving the demand for
comprehensive veterinary services, including diagnostics.
The United States boasts a robust
network of veterinary clinics, hospitals, and healthcare facilities dedicated
to the well-being of companion animals. These establishments offer a wide range
of services, from routine check-ups and vaccinations to advanced surgical
procedures and diagnostic testing. The availability of such comprehensive care
ensures that pets receive prompt and accurate diagnoses when health issues
arise, further emphasizing the importance of companion animal diagnostics in
the country. The evolving landscape of veterinary medicine continually
introduces new technologies and methodologies for diagnosing and treating
various ailments in companion animals. From advanced imaging techniques to
molecular diagnostics, these innovations enable veterinarians to provide more
precise and effective care, driving the demand for cutting-edge diagnostic
services.
Major companies operating in North America Companion
Animals Diagnostics Market are:
- IDEXX Laboratories, Inc.
- Zoetis Inc.
- Virbac S.A.
- Heska Corporation
- Neogen Corporation
- Bio-Rad Laboratories Inc.
- INDICAL Bioscience GmbH
- Agrolabo SpA
- ID Vet
- BioMerieux S.A
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“The
North America Companion Animals Diagnostics Market is poised for substantial
growth in the coming years. the region's unwavering love for pets and the
increasing trend of pet humanization have fostered a deep commitment to
ensuring the health and well-being of companion animals. This heightened
awareness is fueling a greater demand for advanced diagnostic services. Technological
advancements continue to revolutionize the field, offering more precise,
efficient, and accessible diagnostic tools and procedures. The incorporation of
telemedicine and digital health platforms is making diagnostics more convenient
and accessible for pet owners. The ever-growing pet population, especially in
the United States, with its economic capacity, plays a pivotal role in driving
the demand for diagnostic services”, said Mr. Karan Chechi, Research Director of
TechSci Research, a research-based management consulting firm.
“North America Companion Animals Diagnostics Market Segmented By Technology (Clinical Biochemistry, Clinical Chemistry Analysis, Glucose Monitoring, Blood Gas & Electrolyte Analysis, Immunodiagnostics, Hematology, Urinalysis, Others), By Animal Type (Dogs, Cats, Horses, Others), By Application (Clinical Pathology, Bacteriology, Virology, Parasitology, Others), By Country and Competition, Opportunity, and Forecast, 2019-2029F”, has evaluated the future growth potential of North
America Companion Animals Diagnostics Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in North America Companion Animals Diagnostics Market.
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