Report : Europe Companion Animal Diagnostics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Technology (Immunodiagnostics, Clinical Biochemistry, Hematology, Urinalysis, Molecular Diagnostics, Others); Application (Bacteriology, Clinical Pathology, Virology, Parasitology, Others); Animal Type (Dogs, Cats, Horses, Others); End User (Diagnostic Laboratories, Veterinary Hospitals and Clinics, Research Institutes and Universities), and Country
Immunodiagnostics Segment Held Largest Share of Companion Animal Diagnostics Market in 2019
According to our new market research study on “Europe Companion Animal Diagnostics Market to 2027 – Regional Analysis and Forecast – by Technology, Application, Animal Type and End-User” the market is expected to reach US$ 792.8 million by 2027 from US$ 613.6 million in 2019; it is estimated to grow at a CAGR of 3.8% from 2020 to 2027. The report provides trends prevailing in the Europe companion animal diagnostics market and the factors driving the market growth along with those hindering it.
In 2019, the immunodiagnostics segment accounted for the largest market share of the companion animal diagnostics market. The growth of the market for this segment is attributed to the growing number of applications of immunoassay in veterinary science, including the detection of a wide range of diseases. Also, the adoption of generic products by veterinarians for companion animals is adding to the specificity and sensitivity of the tests such as ELISA tests, allergen-specific immunodiagnostic tests, and immunoassays, further propelling the growth of the market for immunodiagnostics during the forecast period.
The growth of the Europe companion animal diagnostics market is mainly attributed as growing prevalence of chronic diseases in pet animals and increasing adoption of pet animals in the country. However, the rising pet care costs is the major factor hindering the market growth in Europe.
The report segments Europe Companion Animal Diagnostics market as follows:
Europe Companion Animal Diagnostics Market – By Technology
Europe Companion Animal Diagnostics Market – By Application
Europe Companion Animal Diagnostics Market – By Animal Type
Europe Companion Animal Diagnostics Market – By Country