The Europe Companion Animal Diagnostic Services Market would witness market growth of 7.0% CAGR during the forecast period (2023-2030).
Genetic testing aids in the diagnosis of genetic illnesses and the customization of treatment plans. Diagnostic devices at the point of care provide swift results, enabling veterinarians to make prompt treatment decisions. These technological advancements attract both pet owners and veterinarians, propelling the expansion of the market for diagnostic services.
Due to the rise of pet pathology testing, clinical pathology is predicted to develop significantly over the projection period. These examinations consist of cytopathology, hematology, and general pathology. Adopting new cutting-edge diagnostic equipment for diagnosing purposes prompted by an increase in pet owners and their concerns regarding pet health.
The demand for companion animal diagnostics is predicted to increase along with the demand for complete and semi-automated diagnostic testing. Automation of the tests will result in inefficient sample management and increased productivity. The tests are economical and encompass a broad range of diseases. The expansion is additionally anticipated to be accelerated by greater usage of glucose monitoring equipment for early diabetes diagnosis.
As European pet owners regard their animals as members of the family, they are more willing to spend a greater proportion of their budgets on companion healthcare, including diagnostic services. This leads to increased demand for comprehensive diagnostics to ensure the well-being of their pets. The humanization trend has contributed to the growing popularity of pet insurance in Europe. The humanization of pets in Europe has led to a shift in pet healthcare behaviors, with pet owners increasingly seeking comprehensive and advanced diagnostic services to ensure the best possible quality of life for their animal companions. The region's companion animal diagnostic services market is expected to continue expanding due to these factors.
The Germany market dominated the Europe Companion Animal Diagnostic Services Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $707.3 million by 2030. The UK market is exhibiting a CAGR of 6.1% during (2023 - 2030). Additionally, The France market would experience a CAGR of 7.8% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Companion Animal Diagnostic Services Market will Hit $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
By Country
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