Pet Dx market to exceed 8% CAGR

by Katie Pfaff

The market for companion animal diagnosis is projected to reach a value of $6.88 billion by 2013, according to a report by analysts, Allied Market Research. The uptick is after a 2021 estimated value of $2.99 billion. The growth is marked by a CAGR of 8.6% between the forecast period of 2022 to 2031, according to the report.

The increase across the market is expected based on the growth in technology allowing for more sophisticated and sensitive point-of-care diagnostic testing, and as rates of zoonotic disease have increased. At the same time, higher incomes and greater amounts that are disposable have spurred market growth. However, the lack of veterinary professionals able to complete diagnostic tests may limit its overall growth worldwide.

When viewing segments by technology, the segment for clinical biochemistry accounted for 1/3 of the revenue across the companion animal diagnostics market in 2021, and is anticipated to continue do so into 2031. The growth in the segment is expected to reach a CAGR of 9.4% between 2022 to 2031.

Clinical pathology is expected to hold another 1/3 of the market in 2021 and continue to grow by a CAGR of 9.2% by 2031. This makes the segment the fastest growing CAGR.

By type of companion animal, dogs accounted for almost half of the segment in 2021, and the same is projected in 2031. Moving forward, the CAGR was forecast to reach 8.9% between 2022 and 2031.

Like0

Dislike0

List
Add

Please enter a comment

Name *

Email address *

Comment *

* Required fields

Information on the processing of your personal data
We inform you that, in compliance with the provisions of current national and European regulations for the Protection of Personal Data and Services of the Information Society and Electronic Commerce, by sending us this form you are expressly giving your consent to Grupo Asís Biomedia , SL, (hereinafter, "ASIS GROUP") so that, as the person in charge, it may process your personal data in order to respond to your request for contact and information by electronic means.

Likewise, when you expressly consent, we will process your personal data to send you specialized information, newsletters, offers and exclusive promotions from GRUPO ASIS and related companies.

For the aforementioned purpose, GRUPO ASIS may transfer your data to other companies linked to GRUPO ASIS or to third party service providers for the management of electronic communications and other security services, even in cases where they are outside of the European Union, provided that they legally guarantee the adequate level of protection required by European regulations.

At any time you can withdraw the consent given and exercise the rights of access, rectification, deletion, portability of your data and limitation or opposition to its treatment by contacting GRUPO ASIS by sending an email to protecciondatos @ grupoasis.com, or by written communication to address at Centro Empresarial El Trovador, 8th floor, office I, Plaza Antonio Beltrán Martínez 1, 50002, Zaragoza (Spain), indicating in either case the Ref. Personal data and the right you exercise, as well as attaching a copy of your ID or replacement identification document.

I have read and accept the treatment of my data according to the informed purpose and according Legal notes and the Privacy Policy
I wish to receive commercial information from GRUPO ASIS and related companies