Companion Animal Diagnostics Market Analysis

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.
 

 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.