Companion Animal Diagnostic Services Market Size, Share & Trends Analysis Report By Testing Category (Clinical Chemistry, Cytopathology, Imaging, Molecular Diagnostics), By Type, By Animal Type, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global companion animal diagnostic services market size was valued at USD 6.9 billion in 2022 and is estimated to grow at a compound annual growth rate (CAGR) of 7.35% from 2023 to 2030. Some of the key drivers of the market include the increasing humanization of pets, technological advancements, uptake of point-of-care diagnostics, medicalization rate, and initiatives by key market stakeholders. For instance, Mars Inc. offers a range of point-of-care and lab-based pet diagnostic services through its various businesses namely - Antech Diagnostic, SOUND, AniCura, Asia Veterinary Diagnostics, Banfield, BluePearl, Mount Pleasant Veterinary Group, and VCA Animal Hospitals. In June 2023, Mars acquired Heska Corporation thus expanding coverage across diagnostics and technology.

The COVID-19 pandemic notably affected the market for companion animal diagnostic services. Some of the key impacts included a temporary decline in vet visits, adoption of telemedicine, supply chain challenges, increased medicalization, surge in pet ownership, and uptake of pet insurance. Key companies such as Zoetis, Antech, and IDEXX registered an increase in revenues during the pandemic. In 2022 however, the macroeconomic headwinds posed significant challenges for the market players. Zoetis for example, reported a revenue of USD 305 million in its animal health diagnostics segment in 2020. This increased to USD 374 million in 2021 but declined to USD 353 million in 2022. IDEXX on the other hand, reported an increase in its companion animal diagnostics recurring revenue owing to increased sales volumes and higher realized prices in 2022. Foreign exchange impact, however, resulted in a 3.4% decrease in its recurring revenue.

Increased pet ownership and humanization of pets is a core factor contributing to the market growth. As more people adopt pets and consider them part of their families, they are more likely to seek medical attention and diagnostic services for their animals. This demand extends beyond basic vaccinations and routine check-ups to more advanced diagnostic procedures, including imaging, blood tests, and genetic testing. This trend is also associated with the desire to provide the best quality of life for pets, leading to early disease detection and proactive management. As per the AVMA and internal GVR estimates, the dog population in the U.S. has grown from 87.5 million to 90 million during 2021-22. While the cat population has increased from 67 million to 69 million during the same period. The pet population is expected to continue increasing in the near future thus propelling the market growth.

Rapid advancements in diagnostic technologies have transformed the landscape of veterinary medicine and played a crucial role in market growth. Innovations in imaging techniques, laboratory testing methods, genetic analysis, and point-of-care devices have significantly improved the accuracy, speed, and range of diagnostic services available for companion animals. The availability of advanced diagnostic tools allows veterinarians to diagnose conditions with higher precision and efficiency. For example, sophisticated imaging technologies such as MRI, CT scans, and ultrasounds enable detailed visualization of internal structures, aiding in the diagnosis of complex issues. Genetic testing helps identify hereditary diseases and tailor treatment plans. Point-of-care diagnostic devices provide rapid results, allowing veterinarians to make prompt treatment decisions. These technological advancements attract both pet owners and veterinary professionals, driving the growth of the diagnostic services market.

Animal Type Insights

By animal type, the dogs segment dominated the market in 2022 with a share of about 55%. This is owing to initiatives by key market players, a high pet dog population, and the availability of a range of diagnostic services specific to canine patients. In April 2022, Embark Veterinary, Inc. for example launched a new canine genetic screening test for veterinary professionals. The launch represents a notable shift for the dog DNA segment, which otherwise, has been largely focused on determining breed mix.

Other companion animals segment on the other hand is anticipated to grow the fastest at a rate of over 9% from 2023 to 2030.The popularity of small mammals, birds, and exotic pets such as reptiles has grown in recent years, leading to increased pet health concerns. Pet owners are becoming more aware of the importance of regular check-ups and early disease detection, driving the demand for diagnostic services for other companion animals. The Ohana Animal Hospital in the U.S. for instance is one of the many service providers in the country that offer laboratory testing, digital imaging, and other critical diagnostic services to exotic pets.

Testing Category Insights

The clinical chemistry segment attributed to the highest share of over 20% of the market in 2022 by testing category. The segment includes testing of chemical composition of body fluids such as serum or plasma, urine, joint fluid, etc., and includes applications such as organ function testing for kidney, liver, pancreas, and more. The high segment share can be attributed to a wide range of clinical chemistry testing services offered by key companies, increasing uptake of these services, as well as growing advancements in the sector.

The cytopathology segment is projected to grow at the highest CAGR of more than 9% during the forecast period. Zoetis Reference Laboratories is one of the many key players that offer cytopathology testing for pets. This includes Cytopathology Simple/Single Site and Cytopathology Complex tests for cats and dogs. In October 2021, Zoetis added digital cytology testing to its multipurpose diagnostics technology platform- Vetscan Imagyst. This provided veterinary professionals remote access to expert clinical pathologists and enabled rapid and minimally invasive diagnosis of cancer, inflammation, infection, and more.

Type Insights

By type, the Point-of-Care (POC) segment held the highest share of the market in 2022. The segment includes testing services provided at point-of-care (i.e., where the pet receives care), such as at home or veterinary hospital/ clinic. Results are provided within minutes, or a few hours (more quickly than send-out lab results), thus enabling veterinarians to provide efficient diagnoses and decide next steps (such as more testing or treatment) preferably in the same visit. In August 2022, PepiPets launched mobile diagnostic testing services for dog and cat owners for at-home diagnostic testing. Such initiatives account for the high segment share.

The Laboratory-based segment is estimated to witness the fastest growth of over 7% in the near future. The segment includes laboratories (owned and run by companies or public bodies) where customers (mostly vet hospitals & clinics) avail services by submitting samples by courier or overnight delivery and receiving results same-day or within a few days. In September 2022, Antech Diagnostics, for instance, expanded its molecular diagnostic offerings by adding OncoK9 from PetDx and Vidium Animal Health’s SearchLight DNA to its portfolio to enhance canine cancer diagnostics. This is expected to fuel the segment's growth.

Regional Insights

By region, North America dominated the market with a share of over 35% in 2022. This is owing to the presence of a large number of pet diagnostic service providers, a high medicalization rate, and growing pet expenditure. Medicalization rate, for instance, is defined as the percentage of pets that have visited a veterinarian at least once in the past 12 months. As per the Canadian Animal Health Institute (CAHI) estimates, from 2020 to 2022 the medicalization rate per year for dogs was estimated at 86%. However, a 3% increase was observed in the medicalization rate of cats. This is expected to fuel the demand for reliable diagnostic services.

Asia Pacific region, on the other hand, is projected to grow at the fastest rate of more than 9% in the coming years. This is due to the increasing awareness of diseases in animals, the pet population, and the presence of local market players. Progress in veterinary medical knowledge and technology has expanded the range of available diagnostic tests and improved their accuracy. Pet owners are becoming more educated and aware of the importance of diagnostic services for their pets. This leads to a higher demand for comprehensive and advanced diagnostic testing.

Key Companies & Market Share Insights

The market is fragmented in nature due to the presence of several small to large service providers that intensify the market competition. Market players are involved in implementing various strategies to increase their market presence and share. These include offering a wide portfolio of services, technological innovations, enhancing turnaround time and speed, competitive pricing, partnerships & collaborations, mergers & acquisitions, and more. In June 2023, Mars, Incorporated for instance acquired Heska Corporation. This enabled the company to expand its diagnostic offerings, accelerate R&D, promote point-of-care veterinary diagnostics, and reach more customers including veterinary professionals and pets. Some of the prominent players in the global companion animal diagnostic services market include:

• Zoetis Services LLC

• IDEXX Laboratories, Inc.

• Mars Inc.

• The Animal Medical Center

• Embark Veterinary, Inc.

• SYNLAB

• NationWide Laboratories

• IVC Evidensia

• CVS Group Plc

• Greencross Vets

Companion Animal Diagnostic Services Market Report Scope

Global Companion Animal Diagnostic Services Market Report Segmentation

This report forecasts revenue growth at the regional & country level and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global companion animal diagnostic services market report based on testing category, type, animal type, and region:

• Testing Category Outlook (Revenue, USD Million, 2018 - 2030)

  • Clinical Chemistry

  • Microbiology

  • Parasitology

  • Histopathology

  • Cytopathology

  • Hematology

  • Immunology & Serology

  • Imaging

  • Molecular Diagnostics

  • Other Categories

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Point-of-Care (POC)

    • By Testing Category

      • Clinical Chemistry

      • Microbiology

      • Parasitology

      • Histopathology

      • Cytopathology

      • Hematology

      • Immunology & Serology

      • Imaging

      • Molecular Diagnostics

      • Other Categories

  • Laboratory-based

    • By Testing Category

      • Clinical Chemistry

      • Microbiology

      • Parasitology

      • Histopathology

      • Cytopathology

      • Hematology

      • Immunology & Serology

      • Imaging

      • Molecular Diagnostics

      • Other Categories

• Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Dogs

  • Cats

  • Horses

  • Other Companion Animals

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Netherlands

    • Sweden

    • Denmark

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia