Companion Animal Diagnostics Market Updates

Companion Animal Diagnostics Market size was valued at USD 2.42 Billion in 2023 and is poised to grow from USD 2.65 Billion in 2024 to USD 5.44 Billion by 2032, growing at a CAGR of 9.4% during the forecast period (2025-2032).

The market is consolidated in nature, with a variety of small and major enterprises present. Idexx and Zoetis accounted for more than half of the industry's revenue. IDvet, Heska Corporation, Virbac, and Neogen Corporation are among the other participants. To achieve a larger market share, market players regularly participate in strategic activities such as new product launches, geographical growth, technical developments, and mergers & acquisitions.  'Idexx Laboratories, Inc. ', 'Zoetis Inc. ', 'Thermo Fisher Scientific Inc. ', 'Biomerieux SA ', 'Virbac ', 'Neogen Corporation ', 'Fujifilm Holdings Corporation ', 'Indical Bioscience GmbH ', 'Idvet ', 'Randox Laboratories, Ltd. ', 'Bionote, Inc. ', 'Skyla Corporation ', 'Urit Medical Electronic Co., Ltd. ', 'Nova Biomedical ', 'Fassisi GmbH ', 'Swissavans AG ', 'Alvedia ', 'Megacor Veterinary Diagnostics ', 'Biopanda Reagents Ltd ', 'Anipoc Ltd ', 'Ring Biotechnology Co Ltd. '

Portable diagnostic tools for point-of-care (PoC) services have evolved as a significant component for detecting animal illnesses in recent years. The major manufacturers in the companion animal diagnostics market are concentrating on the release of portable tools for field veterinarians. Portable systems are often utilised in distant areas such as the patient's house or a shelter home, as well as during an emergency. The expanding need among veterinarians for on-the-spot diagnostics, as well as their simplicity of use in moving data from one department to the next within big veterinary hospitals and academic and research organisations, are driving the increased usage of such tools. 

Ongoing Research to Create More Avenues: Many animal species have been shown to be vulnerable to SARS-CoV-2 infection. As a result, there has been a boom in research to produce diagnostic devices for companion animals in order to better understand its epidemiological relevance in animal health, biodiversity, and human health. In addition, the CDC, USDA, and state public health and animal health officials in numerous nations are collaborating to perform active monitoring of SARS-CoV-2 in pets, including cats, dogs, and other small mammals, that have contact with a human infected with COVID-19. SARS-CoV-2 infections have been documented in a small number of animals throughout the world, most of which had intimate contact with a sick person with COVID-19. 

North America accounted for the greatest revenue share in 2022, owing to advantageous healthcare structure and expanding government efforts. The region has experienced an increase in veterinary healthcare expenditure, which has aided market expansion, making it the world's top revenue stakeholder in the veterinary diagnostic arena.