Global Companion Animal Diagnostics Market (2019 to 2027) - COVID-19 Impact and Global Analysis - ResearchAndMarkets.com

DUBLIN--()--The "Companion Animal Diagnostics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Technology; Application; Animal Type; End User;and Geography" report has been added to ResearchAndMarkets.com's offering.

The companion animal diagnostics market was valued at US$ 2,031.62 Mn in 2019 and is projected to reach US$ 2,684.86 Mn by 2027; it is expected to grow at a CAGR of 4.1% from 2020 to 2027.

The growing prevalence of chronic diseases in pet animals and the increasing adoption of pets for companionship are the major factors driving the growth of the companion animal diagnostics market. However, increasing pet care costs and extended pet lifespan are expected to restrain the growth of the market during the forecast period.

The companion animal diagnostics market offerings deal with the epidemiology and pathogenesis of domestic animals and facilitate the prevention of further complications with the health of pets and their owners.

The global companion animal diagnostics market is segmented into technology, animal type, application, and end-user. Based on technology, the companion animal diagnostics market is further segmented into immunodiagnostics, clinical biochemistry, hematology, urinalysis, molecular diagnostics, and others. The immunodiagnostics segment held the largest share of the market in 2019. However, the clinical biochemistry segment is anticipated to register a higher CAGR in the market during the forecast period.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the companion animal diagnostics market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global companion animal diagnostics market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

Market Dynamics

Key Drivers

  • Growing Prevalence of Chronic Diseases in Pet Animals
  • Increasing Adoption of Pets for Companionship

Key Restraints

  • Increasing Pet Care Costs and Extended Pet Lifespan

Opportunities

  • Demand for Advanced Technologies to Improve Disease Diagnosis

Trends

  • Escalating Number of Product Launches

Companies Profiled

  • Zoetis Inc.
  • Thermo Fisher Scientific Inc
  • Virbac
  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
  • Randox Laboratories, Ltd.
  • Idvet
  • Idexx Laboratories, Inc.
  • Heska Corporation
  • Fujifilm Corporation
  • Skyla Corporation

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900