Companion Animal Diagnostic Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Companion Animal Diagnostic Market is segmented by Animals (Cats, Dogs, and Other Animals), Application (Bacteriology, Parasitology, Clinical Pathology, and Other Applications), Technology (Immunodiagnostic Tests, Molecular Diagnostics, Diagnostic Imaging, and Other Diagnostics), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.

Market Snapshot

Companion Animal Diagnostic Market
Study Period: 2018 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 8.14 %

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Market Overview

The Companion Animal Diagnostic Market was valued at USD 2.20 billion in 2020, and it is expected to reach USD 3.53 billion by 2026, registering a CAGR of 8.14% during the forecast period.

The COVID-19 pandemic has also caused drastic changes to a normal routine with social distancing and lockdowns in place across the world. Understandably, many people suffering from loneliness have experienced a negative impact on their mental health. Therefore, many of them had bought companion animals during the lockdown period. For example, a 2020 survey conducted by the Japan Pet Food Association found a 15% increase in dog and cat ownership compared to the previous year due to COVID-19. There were an estimated 8.49 million dogs and 9.64 million cats being kept as pets in Japan as of October 2020.

Rising demand for pet insurance coupled with a growing companion animal population, and an increasing number of veterinary practitioners in developed economies are the major factor propelling the growth of the market. For instance, the North American Pet Health Insurance Association (NAPHIA), in 2019, reported that the adoption rates of pet health insurance increased over the years in this region. In 2019, in the United States, the pet insurance rate was about 2.3% in dogs compared to 1.7% in 2017, whereas the cat insurance rate was 0.4% in cats compared to 0.3% in 2017. This indicates the rising adoption of pet health insurance among people, which is expected to impact positively on the market studied.

As per the report ‘’Pets in Australia: A national survey of pets and people’’ 2019, the expenditure on a pet increased tremendously, owing to the increasing pet adoption. The report estimated that over AUD 13 billion per year is spent by people to keep the pets fed, healthy, and well-accessorized, with food and veterinary services continuing to account for half of all ongoing expenditure. Out of this, nearly AUD 2.6 billion was spent on veterinary services in the country.

Also, according to the data published by Healthy Paws Pet Insurance and Foundation in 2018, it received more than 200,000 claims for insurance each year, out of which stomach issues and skin conditions are among the most common ailments for both cats and dogs.

Moreover, the increasing prevalence of chronic diseases among animals, such as canine diabetes and feline diabetes, results in high demand for diagnosis and further propels the market.

Furthermore, automation in a diagnostic test associated with companion animals results in ineffective handling of bulk samples and improved productivity. The increasing demand for semi-automated and fully automated diagnostic tests associated with companions may also boost the market studied.

Scope of the Report

As per the scope, companion animal diagnostic deals with identifying, detecting, and severity of several diseases associated with companion animals. The Companion Animal Diagnostic Market is segmented by Animals (Cats, Dogs, Horses, and Other Animals), Application (Bacteriology, Parasitology, Clinical Pathology, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Animals
Other Animals
By Application
Clinical Pathology
Other Applications
By Technology
Immunodiagnostic Tests
Molecular Diagnostics
Diagnostic Imaging
Other Diagnostics
North America
United States
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Middle-East and Africa
South Africa
Rest of Middle-East and Africa
South America
Rest of South America

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Key Market Trends

Clinical Pathology is Estimated to Witness a Healthy Growth in the Future

Clinical pathology is estimated to witness healthy growth in the future attributed to an increasing number of pet pathology tests. These tests encompass cytopathology, hematology, and general pathology.

An increasing number of pet owners and their concern regarding pet health led o the adoption of new innovative diagnostic products for diagnosing purposes. Some of the products are Catalyst Dx and Catalyst One chemistry analyzers.

Moreover, as clinical pathology tests are the mainstay or first step toward detecting companion animal diseases, the rising in the disease among companion animals boosts the segment growth. Instruments for the diagnosis of infectious diseases are also being introduced in the market. In 2018, Zoetis launched CarystaTM HVC (High Volume Chemistry), which is a stand-alone chemistry diagnostic instrument designed to bring reference-lab quality testing to high-volume veterinary practices. Additionally, in August 2018, Zoetis, Inc. acquired Abaxis, Inc. to expand its veterinary point of care (POC) and diagnostic instrument portfolios. Hence, all these factors have helped in boosting market growth.


North America is Expected to Hold a Significant Share in the Market

North America may hold a significant market share in the global companion animal diagnostic market. This is due to the increasing healthcare expenditure, the presence of major players, and well-established healthcare infrastructures coupled with the increasing adoption of companion animals and the rise in veterinary healthcare expenditure, fueling the overall growth of the overall regional market to a large extent.

According to the 2019-2020 National Pet Owners Survey conducted by the American Pet Products Association (APPA), around 67% of US households, or about 84.9 million families, own a pet. Along with pets, the adoption of livestock is also rising in the United States. As per the US Department of Agriculture, the United States was home to 94.8 million cattle and calves as of 2019, up from 93.3 million cattle and calves in 2017. Additionally, according to the Animal Cancer Foundation 2018 report, 65 million dogs and 32 million cats in the United States were diagnosed with cancer. Moreover, approximately 6 million new cancer diagnoses are made in pets every year.

In recent years, the healthcare expenditure on a pet has also increased to a certain extent in this region. For instance, in 2018, the data published by APPA stated that the total pet healthcare expenditure was USD 75.38 billion by 2019, while the expenditure in 2017 was USD 69.51 billion in America. This increase helped in driving the overall market for the companion animal diagnostics market.

Moreover, the rise in product innovation and the launch of novel products are also supporting the market growth in this region. For instance, in December 2020, VolitionRx Limited introduced the ‘’ Nu.Q Vet Cancer Screening Test’’ in the United States. It is a simple and low-cost blood test designed primarily for large dogs. Hence, the geographic presence of major market players, coupled with the increasing market development activities by these players, is anticipated to offer lucrative growth in this region.


Competitive Landscape

The companion animal diagnostic market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market studied. Some of the companies currently dominating the market include Heska Corporation, Agrolabo SpA, Zoetis Inc., IDEXX Laboratories Inc., IDvet, Neogen Corporation, Thermo Fisher Scientific Inc., Randox Laboratories Ltd, and Virbac.

Recent Development

In February 2021, Fujifilm launched VXR Veterinary X-Ray Room, an all-in-one digital X-ray system to streamline the workflow for veterinarians.

In September 2020, Planmed introduced Planmed Verity VET, a stand-alone CT-scanner featured with submillimeter-resolution 3D images of the animal’s bony structures, such as the teeth, skull, and extremities.

Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Demand for Pet Insurance

      2. 4.2.2 Growth in the Companion Animal Population

      3. 4.2.3 Increasing Number of Veterinary Practitioners in Developed Economies

    3. 4.3 Market Restraints

      1. 4.3.1 Rising Burden of the Pet Care Cost

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry


    1. 5.1 By Animals

      1. 5.1.1 Cats

      2. 5.1.2 Dogs

      3. 5.1.3 Other Animals

    2. 5.2 By Application

      1. 5.2.1 Bacteriology

      2. 5.2.2 Parasitology

      3. 5.2.3 Clinical Pathology

      4. 5.2.4 Other Applications

    3. 5.3 By Technology

      1. 5.3.1 Immunodiagnostic Tests

      2. 5.3.2 Molecular Diagnostics

      3. 5.3.3 Diagnostic Imaging

      4. 5.3.4 Other Diagnostics

    4. 5.4 Geography

      1. 5.4.1 North America

        1. United States

        2. Canada

        3. Mexico

      2. 5.4.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Spain

        6. Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. South Korea

        6. Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. GCC

        2. South Africa

        3. Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. Brazil

        2. Argentina

        3. Rest of South America


    1. 6.1 Company Profiles

      1. 6.1.1 Agrolabo SpA

      2. 6.1.2 BioChek BV

      3. 6.1.3 bioMerieux SA

      4. 6.1.4 Chembio Diagnostic Systems Inc.

      5. 6.1.5 Creative Diagnostics

      6. 6.1.6 Heska Corporation

      7. 6.1.7 IDEXX Laboratories Inc.

      8. 6.1.8 IDvet

      9. 6.1.9 Indical Bioscience GmbH

      10. 6.1.10 Neogen Corporation

      11. 6.1.11 Randox Laboratories Ltd

      12. 6.1.12 Thermo Fisher Scientific Inc.

      13. 6.1.13 Virbac

      14. 6.1.14 Zoetis Inc.

    2. *List Not Exhaustive

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Frequently Asked Questions

The Global Companion Animal Diagnostic Market market is studied from 2018 - 2026.

The Global Companion Animal Diagnostic Market is growing at a CAGR of 8.14% over the next 5 years.

The Global Companion Animal Diagnostic Market is valued at 2 Billion USD in 2018.

The Global Companion Animal Diagnostic Market is valued at 3 Billion USD in 2026.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Heska Corporation, IDvet, Neogen Corporation, Zoetis Inc., IDEXX Laboratories Inc. are the major companies operating in Global Companion Animal Diagnostic Market.

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