Companion Animal Diagnostics Market Segmentation and Opportunities: In-Depth Market Research
The market for companion animal diagnostics was valued at $5.12 billion globally in 2021 and is anticipated to grow at a rate of 9.7% during the forecast period. Key drivers influencing market revenue growth include the rising need for pet insurance, a preference for quick tests and portable equipment for Point-of-Care (PoC) diagnostic testing for animals, as well as an increase in the frequency of multiplex and zoonotic infections.
The Global Companion Animal Diagnostics Market Market Research Report added by Emergen Research to its expanding repository is an all-inclusive document containing insightful data about the Companion Animal Diagnostics Market market and its key elements. The report is formulated through extensive primary and secondary research and is curated with an intent to offer the readers and businesses a competitive edge over other players in the industry.
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Effect of COVID-19 on the global market for Companion Animal Diagnostics Market
The COVID-19 pandemic had a significant negative influence on the market for Companion Animal Diagnostics Market in 2020, significantly decreasing its CAGR. In 2020, manufacturers and suppliers of Companion Animal Diagnostics Market were significantly impacted by federal and national safety and legal orders. The majority of businesses have been impacted by the COVID-19 pandemic. Mandates for business closures, restricted municipal and state government office activities, and social conventions of distance had an impact on the production of Companion Animal Diagnostics Market in 2020. Additionally, demand for Companion Animal Diagnostics Market decreased across a range of end-use sectors. The pandemic epidemic also resulted in a decline in global investments in the water sector.
Companion Animal Diagnostics Market market : Competitive Landscape
The prominent players operating in the Companion Animal Diagnostics Market market are profiled in-depth in the report and their strategies, collaborations, and product innovations. The analysis of the key players and their strategies to fortify their presence in the market impart a better understanding of the competitive landscape of the Companion Animal Diagnostics Market market .
Idexx Laboratories, Inc., Neogen Corporation, Zoetis, Inc., Heska Corporation, IDvet, Virbac, Shenzhen Mindray Animal Medical Technology Co., Ltd, Biomerieux SA, Bionote, Inc., and Randox Laboratories Ltd
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the Global Companion Animal Diagnostics Market Market Research Report provides forecasts and future market projections, equipping businesses with the necessary tools to plan ahead. The report’s forward-looking approach, backed by data-driven predictions, ensures that companies can navigate the evolving market landscape with confidence. Through a combination of current market analysis and future outlook, the report serves as an invaluable resource for businesses aiming for long-term success.
Based on types, the market is segmented into
Technology Type Outlook (Revenue, USD Billion; 2019-2030)
- Clinical Biochemistry
Animal Type Outlook (Revenue, USD Billion; 2019-2030)
- Dogs
- Cats
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Clinical Pathology
- Bacteriology
- Parasitology
- Virology
- Others
Regional Outlook :
The growth of the Companion Animal Diagnostics Market Market on a global scale is influenced by region-specific dynamics. North America and Europe lead with technological innovation and solid regulatory environments, though supply chain challenges and compliance issues are present. In the Asia-Pacific region, especially in China and India, rapid urbanization and heightened consumer demand are fueling expansion. Meanwhile, emerging markets in Latin America, the Middle East, and Africa present growth potential, driven by economic reform and investment, yet face significant obstacles in the form of political instability and underdeveloped infrastructure.
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