How is the Companion Animal Diagnostic Services Market Poised for Growth: Trends and Opportunities Through 2034
Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
What is the Forecasted Expansion Rate of the Companion Animal Diagnostic Services Market Over the 2025–2034 Period?
Over the past few years, the market size for companion animal diagnostic services has experienced significant growth. Projections indicate an increase from $6.93 billion in 2024 to $7.53 billion in 2025, equating to a compound annual growth rate (CAGR) of 8.7%. The surge in growth during the historical period can be linked to factors such as a rise in the number of pet owners, an increase in zoonotic diseases, a boost in pet healthcare spending, a growing demand for preventive healthcare, as well as governmental initiatives and regulations.
The market size of companion animal diagnostic services is projected to see substantial growth in the forthcoming years, expanding to $10.39 billion by 2029 with an 8.4% compound annual growth rate (CAGR). The surge during the prediction period is due to an increasing pet population, the broadening of telemedicine for pets, heightened adoption of pet insurance, an emphasis on earlier disease detection, and a rise in veterinary clinics and hospitals. Key trends in the prediction period are the incorporation of AI and machine learning, telemedicine adoption, development of upgraded biomarkers and genetic testing, advancements in pet wearable health technology, improved point-of-care diagnostic tools, and novel non-invasive diagnostic methods.
What Market Dynamics Are Playing a Key Role in Accelerating the Growth of the Companion Animal Diagnostic Services Market?
Rising pet ownership is projected to fuel the expansion of the companion animal diagnostic services market in the future. Having a pet as a companion caters to the growing demand of people for emotionally supportive pets that contribute to better mental and physical health, lifestyle preferences, and sociocultural influences. Diagnostic services for companion animals enhance the experience of pet ownership by allowing an early and precise identification of health problems, facilitating prompt medical intervention and enhancing the general wellness of pets. For instance, UK Parliament data from April 2023 indicates that 53% of UK adults were proud pet owners, a rise from 51% in February 2020. Consequently, the upsurge in pet ownership is driving the growth of the market for companion animal diagnostic services.
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Who Are the Leading Organizations Fueling the Expansion of the Companion Animal Diagnostic Services Market?
Major companies operating in the companion animal diagnostic services market are:
• Mars Incorporated_x000D_
• Thermo Fisher Scientific Inc._x000D_
• Fujifilm Holdings Corporation_x000D_
• Zoetis Services LLC_x000D_
• Eurofins Scientific SE_x000D_
Which Cutting-Edge Trends Are Expected to Drive the Companion Animal Diagnostic Services Market’s Growth?
Leading businesses in the companion animal diagnostic services market are innovating genetic screening kits to identify inherited conditions and susceptibilities to various disorders. This technique assists veterinarians in identifying genetic diseases earlier, leading to prompt treatment and better health outcomes. For example, Neogen Corporation, a biotech research firm based in the US, launched My CatScan 2.0 in June 2023 to streamline genetic screening through a noninvasive cheek swab. This updates can recognise over 120 genetic health conditions and provides bespoke insights based on breed, organ system, or symptoms. This customised strategy delivers vital data for well-informed decisions concerning a cat’s health.
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What Are the Key Components of the Companion Animal Diagnostic Services Market, and How Do Its Segments Perform?
The companion animal diagnostic services market covered in this report is segmented –
1) By Type: Point-Of-Care (POC), Laboratory-Based
2) By Animal Type: Dogs, Cats, Horses, Other Animal Types
3) By Testing Category: Clinical Chemistry, Microbiology, Parasitology, Histopathology, Cytopathology, Hematology, Immunology And Serology, Imaging, Molecular Diagnostics, Other Testing Categories
Subsegments:
1) By Point-Of-Care (POC): Rapid Diagnostic Tests, Portable Diagnostic Devices, In-Clinic Testing Services, Blood Glucose Monitors
2) By Laboratory-Based: Clinical Pathology Services, Imaging Services, Histopathology And Cytology, Microbiology And Infectious Disease Testing, Genetic Testing Services
Which Regions Are Most Influential in Expanding the Companion Animal Diagnostic Services Market?
North America was the largest region in the companion animal diagnostic services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the companion animal diagnostic services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does the Definition of the Companion Animal Diagnostic Services Market Include?
Companion animal diagnostic services encompass a range of medical testing and procedures aimed at diagnosing health issues in pets, primarily dogs and cats. These services are essential for identifying various diseases and conditions, enabling veterinarians to provide appropriate treatments and care.
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