The North America Companion Animal Diagnostic Services Market would witness market growth of 6.7% CAGR during the forecast period (2023-2030).
The market's rise is primarily due to rising pet ownership and the humanization of animals. As more people adopt pets and view them as members of their families, they are more likely to seek veterinary care and diagnostic services for their companions. This demand includes advanced diagnostic procedures, such as imaging, blood tests, genetic testing, fundamental vaccinations, and routine checkups. This trend is also associated with the desire to provide pets with the highest quality of life, resulting in early detection and proactive disease management.
Rapid advances in diagnostic technologies have reshaped the landscape of veterinary medicine and played a crucial role in expanding the market. The accuracy, speed, and scope of diagnostic services available for companion animals have considerably increased due to advancements in imaging techniques, laboratory testing procedures, genetic analysis, and point-of-care devices. Advanced diagnostic instruments allow veterinarians to diagnose conditions with greater precision and efficiency. For instance, advanced imaging technologies such as magnetic resonance imaging (MRI), computed tomography (CT), and ultrasounds enable detailed visualization of internal structures, which aids in diagnosing complex issues.
North America has one of the highest rates of pet ownership globally, with a significant population of dogs, cats, and other companion animals. The growing number of pets has increased demand for veterinary services, including diagnostic services. The region has seen significant advancements in diagnostic technologies, including digital radiography, ultrasound, CT scans, MRI, and genetic testing. These advanced tools enable veterinarians to provide accurate diagnoses and tailored treatment plans. North America is a hub for veterinary research and innovation. This fosters the development of new diagnostic technologies and treatment methods, further enhancing the market's growth.
The North America market dominated the Global Companion Animal Diagnostic Services Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.7 billion by 2030. The Europe market is experiencing a CAGR of 7% during (2023 - 2030). Additionally, The Asia Pacific market would exhibit a CAGR of 8.2% during (2023 - 2030).
Based on Type, the market is segmented into Point-of-Care (POC) and Laboratory-based. Based on Animal Type, the market is segmented into Dogs, Cats, Horses and Others. Based on Testing Category, the market is segmented into Clinical Chemistry, Microbiology, Parasitology, Histopathology, Cytopathology, Hematology, Immunology & Serology, Imaging, Molecular Diagnostics and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Companion Animal Diagnostic Services Market is Predict to reach $10.4 Billion by 2030, at a CAGR of 7.4%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Zoetis, Inc., IDEXX Laboratories, Inc., Mars Inc., Fujifilm Holdings Corporation, Embark Veterinary, Inc., Thermo Fisher Scientific Inc., Patterson Companies, Inc., Randox Laboratories Limited, CVS Group Plc, and Neogen Corporation
By Type
By Animal Type
By Testing Category
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