PUBLISHED DATE : Sep 2018 | Pages : 198
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US Companion Animal Diagnostics Market Size, Share, Trends, Analysis Report By Product (Diagnostic Analyzers & Imaging Equipment, Consumables, & Software), Animal Type (Dog & Cat), Technology (Diagnostic Imaging, Clinical Chemistry, Hematology, Immunodiagnostics, Microbiology & Histopathology, & Molecular Diagnostics), and End-Users (Veterinary Reference Laboratories, Veterinary Hospitals & Clinics, and Others) Industry Analysis, Growth Potential, Price Trends, Competitive Landscape & Forecast 2018-2023
198 Pages
19 Tables
59 Charts
1 Regions
1 Countries
28 Companies
4 Market Segment
| Report Attribute | Details |
|---|---|
| Market Size (Revenue) | USD 2.5 Billion (2023) |
| CAGR | 7% (2018-2023) |
| Base Year | 2017 |
| Forecast Year | 2018-2023 |
| Market Segments | Product (Diagnostic Analyzers & Imaging Equipment, Consumables, & Software), Animal Type (Dog & Cat), Technology (Diagnostic Imaging, Clinical Chemistry, Hematology, Immunodiagnostics, Microbiology & Histopathology, & Molecular Diagnostics), and End-Users (Veterinary Reference Laboratories, Veterinary Hospitals & Clinics, and Others) |
| Geographic Analysis | North America |
| Countries Covered | United States |
The significant rise in ownership of pets due to an exponential increase in disposable income and modern lifestyles is propelling the growth of the US companion animal diagnostics market. The high percentage of urban population and separation from farm animals and nature is stimulating Americans to bring cats and dogs as domestic companions in their homes. Pet owners are becoming extra cautious about the health of their pets, which in turn, is leading to an increase in regular diagnostic check-ups and situational check-ups in the US market. The rising awareness among the owners about the availability of various diagnostic tests for diagnosis and treatment of diseases in cats and dogs is expected to increase in the US market over the next few years. The top companies are investing in technological advancements to meet the growing requirement for innovative animal diagnostic tools and platforms in the US market. The focus on the development of cost-effective, flexible treatment tools capable of delivering faster and accurate results will boost revenues in the market. The growing number of pet adoption among millennials, increasing pet healthcare expenditure, higher concentration of key players, and a high number of homes with pets are some of the major factors attributing to the growth of the US market. Obesity, dental diseases, arthritis, allergies, ear infections, skin infections, kidney diseases, bladder or UTIs, thyroid disorders, and diabetes are some of the most common ailments in the US companion animal diagnostics market.
The consumers are signing up for regular diagnosis and glucose monitoring that help them identify the disease at an early stage and begin appropriate therapy to reduce the risk of diabetic complications in their pets in the US market. The advent of miniaturization, microfluidics, and usage of software platforms supported the development and commercialization of in-vitro diagnostics devices, imaging systems, and point-of-care diagnostics will transform the market.
The rising number of new product approvals and launches is driving the demand in the US companion animal diagnostics market. Leading vendors are strategically developing commercial launches of their animal diagnostic devices and consumables or reagents for diagnosing various acute and chronic diseases in cats and dogs. The increasing investments in R&D activities will propel market growth and demand over the next few years. Multiple players are actively involved in launching innovative devices to penetrate and tap the enormous growth potential prevailing in the market. For instance, leading players such as IDEXX Laboratories and Abaxis are gaining a significant presence in the market owing to their continuous involvement in new product innovations and launches. The launch of a broad range of innovative and highly advanced products will boost revenues in the US companion animal diagnostics market. Companies such as Heska, OR Technology, and Rayence are also engaged in developing new products and are focusing to gain regulatory approvals for their products in the US market.
This market research report includes a detailed segmentation of the market by
Availability of various reagents and test kits will boost the demand for consumables in the US companion animal diagnostics market
The US companion animal diagnostics market by product is segmented into diagnostic analyzers & imaging equipment, consumables, & software. Consumables segment dominated more than half of the market share in 2017, growing at a CAGR of over 8% during the forecast period. The extensive use of a wide array of various reagents and test kits for performing multiple diagnostic tests, catering to different requirements of veterinarians is propelling the growth of this segment in the US market. The consumables segment predominantly include substrates, enzymes, electrolytes, specific proteins, lipids, and other test kits, which are useful to obtain accurate results in diagnostic procedures. The growing demand for in-clinic diagnostic procedures across veterinary diagnostic labs in the US market will create lucrative opportunities for players operating in this region. The top companies are offering consumables such as reagents, assays, and biomarkers to gain a larger US companion animal diagnostics market share. The growing preference for automated analyzers and advanced imaging equipment in reference laboratories and other veterinary practices will boost the demand for diagnostic analyzers and imaging equipment in the global market. Moreover, the use of software for integration of various diagnostic platforms will increase the efficiency of veterinarians’ workflow in the US market.
Prevalence of various chronic diseases in dogs to drive the US companion animal diagnostics market during the forecast period
The animal type segment in the US companion animal diagnostics market is classified into dogs and cats. Dogs occupied close to 2/3rd of the total market share in 2017, growing at a CAGR of around 7% during the forecast period. The growing prevalence and incidence of various acute and chronic diseases in dogsare contributing to the growth of this segment in the US market. The rising awareness of the need for collaboration between the fields of veterinary and human medicine on preventing the spread of diseases from companion animals into humans will boost demand for innovative products in the US market. Blood tests, heartworm tests, fecal tests, urinalysis, and radiography are some of the essential diagnostic tests to be performed in dogs for analyzing body condition and diagnosing various diseases in the US. The development of highly advanced and automated hematology analyzers will contribute to the growth of this segment in the US companion animal diagnostics market. The growing number of US households with pet ownership and an increase in expenditure on pet care products will propel the growth of the cat segment in the US market. The rising incidences of obesity, dental diseases, arthritis, allergies, ear infections, skin infections, kidney diseases, bladder, UTIs, thyroid disorders, and diabetes is contributing to the demand in this segment in the US.
The launch of innovative imaging systems to contribute to the revenues in the US companion animal diagnostics market
The US companion animal diagnostics market by technology is categorized into diagnostic imaging, clinical chemistry, hematology, immunodiagnostics, microbiology & histopathology, & molecular diagnostics. Diagnostic imaging dominated more than 1/3rd of the total market share in 2017, growing at a CAGR of around 8% during the forecast period. The increasing technological innovations and their accuracy in diagnosing specific diseases in cats and dogs are primarily driving the growth of this segment in the US market. Top companies such as Esaote, Agfa-Gevaert Group, Carestream Health, Hallmarq Veterinary Imaging, GE Healthcare, Shenzhen Mindray Bio-Medical Electronics, and FUJIFILM are offering a diverse range of imaging systems to suit various requirements and needs of end-users in the US market. The launch of radiography systems that are optimized with advanced features including customized animal-image processing, a full suite of veterinary measurement tools, and vet-specific order entry and exam views will revolutionize the US companion animal diagnostics market. Players are launching portable, reliable, and cost-effective analyzer making urinalysis chemistry testing easier and more reproducible in the clinical chemistry segment in the US market.
Rising awareness about zoonotic and pet-related diseases to contribute to the demand for veterinary reference laboratory in the US companion animal diagnostics market
The end-user segment in the US companion animal diagnostics market is divided into veterinary reference laboratories, veterinary hospitals & clinics, and others (veterinary academic and research institutes and pet owners). The veterinary reference laboratories occupied more than half of the total market share in 2017, growing at a CAGR of around 6% during the forecast period. The increasing pet adoption and expenditure on pet care, increasing demand for pet insurance, increasing number of veterinary practitioners and their growing income levels, and rising awareness about zoonotic and pet-related diseases are some of the major factors attributing to the growth of this segment in the US market. The market is expected to benefit from the increase in the volume of hematology, immunodiagnostics, and clinical chemistry tests by veterinarians as they are widely used for diagnosing a broad range of diseases and ailments. The increase in the volume of diagnostic testing in these laboratories will attribute to the revenues in the US companion animal diagnostics market. The availability of better healthcare infrastructure for animals in hospitals and clinics will propel the development of the US market.
The US companion animal diagnostics market characterized by the presence of several global, regional, and local players offering a diverse array of diagnostic analyzers, imaging equipment, and consumables. The top vendors are developing innovative products and expanding their product portfolios to sustain the competition levels in the market. Leading companies are adopting new technologies to improve their market presence in the US region. Several players are partnering with pet care companies and government organization to gain traction among pet owners in the US companion animal diagnostics market. Also, vendors are focusing on developing and commercializing innovative animal diagnostics systems to gain a competitive advantage in the US market.
By Product
By Animal Type
By Technology
By End-users
Frequently Asked Questions
What is the US companion animal diagnostics market size and growth rate during the forecast period?
US companion animal diagnostics market to reach values of over USD 2.5 billion by 2023, growing at a CAGR approximately 7% during the forecast period.
What are the factors contributing to the growth of the animal diagnostics market?
The significant rise in ownership of pets due to an exponential increase in disposable income and modern lifestyles is propelling the growth of the US companion animal diagnostics market.
Who are the leading vendors in the market, and what are their market shares?
Abaxis, Carestream Health, Esaote, Fujifilm, Heska, IDEXX Laboratories, and Zoetis are the leading vendors in the market.
Which is the largest end-user segment generating revenues during the forecast period?
The veterinary reference laboratories occupied more than half of the total market share in 2017, growing at a CAGR of around 6% during the forecast period.
The US companion animal diagnostics market is driving the development of advanced technological platforms, analyzers, and imaging modalities. The entry of advanced POC devices, digital radiography platforms, benchtop diagnostic analyzers, and hand-held imaging devices will transform the US market during the forecast period. The market research report provides in-depth market analysis and segmental analysis of the US companion animal diagnostics market by product, animal type, technology, and end-users.
Base Year: 2017
Forecast Year: 2018–2023
The report considers the present scenario of the US companion animal diagnostics market and its market dynamics for the period 2018−2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The report segments the market based on product type (diagnostic analyzers and imaging equipment, consumables, and software); technology type (diagnostic imaging, clinical chemistry, hematology, immunodiagnostics, microbiology & histopathology, and molecular diagnostics); animal type (dogs and cats); and end-user type (veterinary reference laboratories, veterinary hospitals and clinics, and others) elaborating the present market scenario and discussing the futuristic demand in the market for companion animal diagnostics. It also profiles and analyzes the leading companies and various other prominent companies operating in the US companion animal diagnostics market. The report also discussed the future market growth, improvement areas, and strategic recommendation for the US companion animal diagnostics market vendors.
Major Vendors in the US Companion Animal Diagnostics Market
Prominent Players in the US Companion Animal Diagnostics Market
Market Segmentation by Product
Market Segmentation by Animal Type
Market Segmentation by Technology
Market Segmentation by End-users
1 Research Methodology
2 Research Objectives
3 Research Process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Segmentation by Product Type
4.3.2 Market Segmentation by Technology Type
4.3.3 Market Segmentation by Animal Type
4.3.4 Market Segmentation by End-user Type
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Inclusions
5.3 Exclusions
5.4 Currency Conversion
5.5 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 US Companion Animal Diagnostics Market Snapshot
8 US Companion Animal Diagnostics Market Dynamics
8.1 US Companion Animal Diagnostics Market Growth Enablers
8.1.1 Increase in number of companion animals with acute and chronic diseases
8.1.2 Increase in pet adoption and expenditure among Americans
8.1.3 Growing demand for automated analyzers and integration of various diagnostic platforms
8.1.4 Focus on diagnostic consumables sales and recurring revenue by vendors
8.1.5 YOY Impact of Market Growth Enablers
8.2 US Companion Animal Diagnostics Market Growth Restraints
8.2.1 Low penetration of pet insurance in US
8.2.2 High cost of companion animal diagnostic procedures and equipment
8.2.3 Limitations and risks associated with companion animal diagnostic procedures
8.2.4 YOY Impact of Market Growth Restraints
8.3 US Companion Animal Diagnostics Market Opportunities & Trends
8.3.1 Growing demand for rapid and POC diagnostic tests
8.3.2 Technological advancements/improvements in diagnostic analyzers and imaging equipment
8.3.3 Growing demand for digital radiography
8.3.4 New product approvals/launches
8.3.5 YOY Impact of Market Opportunities & Trends
9 US Companion Animal Diagnostics Market
9.1 US Companion Animal Diagnostics Market Overview
9.2 Market Size & Forecast
9.3 Porter’s Five Forces Analysis
9.3.1 Threat of New Entrants
9.3.2 Bargaining Power of Suppliers
9.3.3 Bargaining Power of Buyers
9.3.4 Threat of Substitutes
9.3.5 Competitive Rivalry
10 By Product
10.1 US Companion Animal Diagnostics Market Overview
10.2 Consumables
10.2.1 Analysis and Overview
10.2.2 Market Size & Forecast
10.3 Diagnostic Analyzers and Imaging Equipment
10.3.1 Analysis and Overview
10.3.2 Market Size & Forecast
10.4 Software
10.4.1 Analysis and Overview
10.4.2 Market Size & Forecast
11 By Technology
11.1 US Companion Animal Diagnostics Market Overview
11.2 Diagnostic Imaging
11.2.1 Market Overview
11.2.2 Analysis and Insights
11.2.3 Market Size & Forecast
11.3 Clinical Chemistry
11.3.1 Market Overview
11.3.2 Analysis and Insights
11.3.3 Market Size & Forecast
11.4 Hematology
11.4.1 Market Overview
11.4.2 Analysis and Insights
11.4.3 Market Size & Forecast
11.5 Immunodiagnostics
11.5.1 Market Overview
11.5.2 Analysis and Insights
11.5.3 Market Size & Forecast
11.6 Microbiology and Histopathology
11.6.1 Market Overview
11.6.2 Analysis and Insights
11.6.3 Market Size and Forecast
11.7 Molecular Diagnostics
11.7.1 Market Overview
11.7.2 Analysis and Insights
11.7.3 Market Size & Forecast
12 By End - User
12.1 Market Overview
12.2 Veterinary Reference Laboratories
12.2.1 Analysis & Insights
12.2.2 Market Size & Forecast
12.3 Veterinary Hospitals and Clinics
12.3.1 Analysis & Insights
12.3.2 Market Size & Forecast
12.4 Other End-users
12.4.1 Analysis & Insights
12.4.2 Market Size and Forecast
13 By Companion Animal Type
13.1 Market Overview
13.2 DOGS Diagnostics Market in US
13.2.1 Analysis & Insights
13.2.2 Market Size & Forecast
13.3 Cats Diagnostics Market in US
13.3.1 Analysis & Insights
13.3.2 Market Size & Forecast
14 Competitive Landscape
14.1 Competition Overview
14.2 Market Vendor Share/Ranking Analysis
15 Key Company Profiles
15.1 Abaxis
15.1.1 Business Overview
15.1.2 Abaxis in US Companion Animal Diagnostics Market
15.1.3 Major Product Offerings
15.1.4 Key Strategies
15.1.5 Key Strengths
15.1.6 Key Opportunities
15.2 Carestream Health
15.2.1 Business Overview
15.2.2 Carestream in US Companion Animal Diagnostics Market
15.2.3 Major Product Offerings
15.2.4 Key Strategies
15.2.5 Key Strengths
15.2.6 Key Opportunities
15.3 Esaote
15.3.1 Business Overview
15.3.2 Esaote in US Companion Animal Diagnostics Market
15.3.3 Major Product Offerings
15.3.4 Key Strategies
15.3.5 Key Strengths
15.3.6 Key Opportunities
15.4 Fujifilm
15.4.1 Business Overview
15.4.2 Fujifilm in US Companion Animal Diagnostics Market
15.4.3 Major Product Offerings
15.4.4 Key Strategies
15.4.5 Key Strengths
15.4.6 Key Opportunities
15.5 Heska
15.5.1 Business Overview
15.5.2 Heska in US Companion Animal Diagnostics Market
15.5.3 Major Product Offerings
15.5.4 Key Strategies
15.5.5 Key Strengths
15.5.6 Key Opportunities
15.6 IDEXX Laboratories
15.6.1 Business Overview
15.6.2 IDEXX in US Companion Animal Diagnostics Market
15.6.3 Major Product Offerings
15.6.4 Key Strategies
15.6.5 Key Strengths
15.6.6 Key Opportunities
15.7 Zoetis
15.7.1 Business Overview
15.7.2 Zoetis in US Companion Animal Diagnostics Market
15.7.3 Major Product Offerings
15.7.4 Key Strategies
15.7.5 Key Strengths
15.7.6 Key Opportunities
16 Other Prominent Vendors
16.1 Accuplex Diagnostics
16.1.1 Business Overview
16.2 Agfa-Gevaert NV
16.2.1 Business Overview
16.3 Alvedia
16.3.1 Business Overview
16.4 Aquila Diagnostics Systems
16.4.1 Business Overview
16.5 BioMérieux
16.5.1 Business Overview
16.6 Boule Diagnostics
16.6.1 Business Overview
16.7 CLINDIAG SYSTEMS
16.7.1 Business Overview
16.8 Diagnostic Imaging Systems
16.8.1 Business Overview
16.9 Erba Diagnostics
16.9.1 Business Overview
16.1 Hallmarq Veterinary Imaging
16.10.1Business Overview
16.11 Hytest ltd
16.11.1Business Overview
16.12 IDvet
16.12.1Business Overview
16.13 Petnostics
16.13.1Business Overview
16.14 Randox Laboratories
16.14.1Business Overview
16.15 Rayence
16.15.1Business Overview
16.16 ScheBo Biotech
16.16.1Business Overview
16.17 Siemens Healthcare
16.17.1Business Overview
16.18 Shenzhen Mindray Bio-Medical Electronics
16.18.1Business Overview
16.19 Thermo Fisher Scientific
16.19.1Business Overview
16.20 Woodley Equipment Company
16.20.1Business Overview
16.21 Zoologix
16.21.1Business Overview
17 Report Summary
17.1 Key Takeaways
17.2 Strategic Recommendations
17.3 Qualitative Summary
17.4 Quantitative Summary
17.4.1 Market by Product
17.4.2 Market by Technology
17.4.3 Market by Animal Type
17.4.4 Market by End-users
18 Appendix
18.1 Abbreviations
List of Exhibits
Exhibit 1 Segmentation of US Companion Animal Diagnostics Market
Exhibit 2 Market Size Calculation Approach 2017
Exhibit 3 US Diagnostics Market by Product Type 2017 (%)
Exhibit 4 US Diagnostics Market by Technology Type 2017 (%)
Exhibit 5 US Diagnostics Market by Animal Type 2017 (%)
Exhibit 6 Prevalence Rate of Common Diseases in Dogs 2015
Exhibit 7 Prevalence Rate of Common Diseases in Cats 2015
Exhibit 8 Number of Diabetes Cases in Dogs 2006−2015 (Per 10,000)
Exhibit 9 Number of Diabetes Cases in Cats 2006−2015 (Per 10,000)
Exhibit 10 Total Pet Expenditure in US 2010−2017 ($ billion)
Exhibit 11 Basic Annual Expenses for Dogs and Cats 2017 ($)
Exhibit 12 US Companion Animal Diagnostics Market 2017–2023 ($ million)
Exhibit 13 Five Forces Analysis 2017
Exhibit 14 US Market by Product Type
Exhibit 15 US Market by Product Type 2017
Exhibit 16 US Market by Product Type 2023
Exhibit 17 US Companion Animal Diagnostics Market 2017 and 2023 (%)
Exhibit 18 US Market by Product Type 2017−2023 ($ million)
Exhibit 19 US Market by Product Type 2017−2023 (%)
Exhibit 20 US Market by Consumables 2017–2023 ($ million)
Exhibit 21 Animal Analyzers and Imaging Equipment Market in US by 2017–2023 ($ million)
Exhibit 22 US Companion Animal Diagnostics Market by Software 2017–2023
Exhibit 23 US Market by Technology Type
Exhibit 24 US Market by Technology Type 2017 (%)
Exhibit 25 US Market by Technology Type 2023 (%)
Exhibit 26 US Market by Technology Type 2017 and 2023 (%)
Exhibit 27 US Companion Animal Diagnostics Market by Technology Type 2017−2023 ($ million)
Exhibit 28 US Companion Animal Diagnostics Market by Technology Type 2017−2023 (%)
Exhibit 29 Animal Diagnostic Imaging Market in US 2017–2023 ($ million)
Exhibit 30 Animal Clinical Chemistry Market in US 2017–2023 ($ million)
Exhibit 31 Normal Hematology Values for Cats and Dogs
Exhibit 32 Animal Hematology Market in US 2017–2023 ($ million)
Exhibit 33 Animal Immunodiagnostics Market in US 2017–2023 ($ million)
Exhibit 34 Animal Microbiology and Histopathology Market in US 2017–2023 ($ million)
Exhibit 35 Animal Molecular Diagnostics Market in US 2017–2023 ($ million)
Exhibit 36 US Companion Animal Diagnostics Market by End-user
Exhibit 37 US Market by End-user 2017 (%)
Exhibit 38 US Companion Animal Diagnostics Market by End-user Type 2023 (%)
Exhibit 39 US Market by End-user 2017−2023 ($ million)
Exhibit 40 US Market by End-user 2017−2023 (%)
Exhibit 41 US Companion Animal Diagnostics Market 2017 and 2023 (%)
Exhibit 42 Animal Veterinary Reference Laboratories Market in US 2017–2023 ($ million)
Exhibit 43 Animal Veterinary Hospitals and Clinics Market in US 2017–2023 ($ million)
Exhibit 44 Animal Other End-users Market in US 2017–2023 ($ million)
Exhibit 45 US Market by Animal Type
Exhibit 46 US Market by Animal Type 2017 & 2023 (%)
Exhibit 47 US Companion Animal Diagnostics Market by Animal Type 2017−2023 ($ million)
Exhibit 48 US Companion Animal Diagnostics Market by Animal Type 2017−2023 (%)
Exhibit 49 US Market by Dogs 2017−2023 ($ million)
Exhibit 50 US Companion Animal Diagnostics Market by Cats 2017−2023 ($ million)
Exhibit 51 Abaxis Sales Breakdown by Segments FY2018 (%)
Exhibit 52 Abaxis Sales Breakdown by Geography FY2018 (%)
Exhibit 53 Abaxis Sales Breakdown by Products FY2018 (%)
Exhibit 54 Fujifilm Sales Breakdown by Segments FY2017 (%)
Exhibit 55 Fujifilm’s Information Solutions Segment Sales Breakup FY20717 (%)
Exhibit 56 Heska Sales Breakdown by Business Segments FY2017 (%)
Exhibit 57 IDEXX Laboratories Sales Breakdown by Segments 2017 (%)
Exhibit 58 Zoetis Sales Breakdown by Segments FY2017 (%)
Exhibit 59 Zoetis Sales Breakdown by Animal Group FY2017 (%)
List of Tables
Table 1 Key Caveats
Table 2 Currency Conversion 2013−2017
Table 3 YOY Impact of Market Growth Enablers 2017−2023
Table 4 YOY Impact of Market Growth Restraints 2017−2023
Table 5 Recent Product Approvals in US Companion Animal Diagnostics Market
Table 6 YOY Impact of Market Opportunities & Trends 2017−2023
Table 7 Common Hematology Tests Performed in Animals
Table 8 Abaxis: Product Offerings
Table 9 Carestream Health: Product Offerings
Table 10 Esaote: Product Offerings
Table 11 Fujifilm: Product Offerings
Table 12 Heska: Product Offerings
Table 13 IDEXX Laboratories: Product Offerings
Table 14 Zoetis: Product Offerings
Table 15 Qualitative Summary of US Companion Animal Diagnostics Market
Table 16 US Market by Product 2017–2023
Table 17 US Market by Technology 2017–2023
Table 18 US Market by Animal Type 2017–2023
Table 19 US Market by End-users 2017–2023
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