According to The Insight Partners' research, the North America Companion Animal Diagnostics Market was valued at US$ 2,016.9 Million in 2024 and is expected to reach US$ 3,912.2 Million by 2031, registering a CAGR of 10.0% from 2025 to 2031.
Upsurging companion animal healthcare expenditure and integration of digitalization and artificial intelligence in veterinary healthcare are among the critical factors attributed to the North America companion animal diagnostics market expansion.
The expenditure on veterinary healthcare is rising across the world. Spending on pet healthcare is surging dramatically, including purchasing pet food supplies, over-the-counter pharmaceuticals, veterinarian treatment, and pet insurance coverage. The considerable increase in pet care expenditure is leading to the growing demand for pet insurance, especially in major markets throughout North America and Europe. According to the American Pet Products Association 2023-2024, there is an upsurge in expenses in the pet industry in the US. Pet industry expenses in the US totaled US$ 143.6 billion in 2023, compared to US$ 136.8 billion in 2018. This rise in pet expenditure accelerates the demand for their care products. According to the North American Pet Health Insurance Association Inc. data, in 2023, the total US pet insurance volume was US$ 3.2 billion. The total number of pets insured in the country at the end of 2022 was US$ 4.8 million, a 22% increase since 2021.
Chronic ailments such as cancer, arthritis, and allergies are prevalent in animals similar to humans. In pets, chronic diseases have become more evident, which is eventually impacting people's spending on their pets' well-being and health. For instance, according to HealthforAnimals globally, an estimated US$ 4.6 billion was spent on companion animal diagnostics in 2022.
The American Pet Products Association reports that veterinary care expenses have increased more than GDP over 2022-2023. With the rising number of pet owners, total spending on veterinary point-of-care diagnosis surges, which markedly boosts expenditure per pet.
Increased awareness of veterinary health reflects how preventive medicine, advanced treatments, and veterinary point-of-care diagnosis can assist in safeguarding their well-being. Pet owners in mature economies seek protection against the escalating veterinary treatment costs by applying for a pet insurance policy. Although the penetration rate in the US and Canada is lower compared to some European countries, the trend of its growth is progressive and fueled by increased awareness of the benefits of pet insurance, coupled with humanization. This is increasingly the case in diagnostics is thus allowing a veterinarian to make prompt decisions on treatment. Regular checkups and the early detection of possible health issues have become standard practice, increasing the demand for companion animal diagnostic tools applied during routine visits for early-stage condition detection. Therefore, the rising expenditure on companion animal healthcare drives the companion animal diagnostics market growth.
On the contrary, the high cost of diagnostic products and infrastructure hampers the growth of the North America companion animal diagnostics market.
North America Companion Animal Diagnostics Market Segmentation Analysis:
- By Product, the North America Companion Animal Diagnostics Market is segmented into Consumables and Instruments. The Consumables segment is projected to expand at 10.3% CAGR during 2025 - 2031.
- By Companion Animal, the North America Companion Animal Diagnostics Market is segmented into Dogs, Cats, Horses, and Others. The Dogs segment is projected to expand at 10.3% CAGR during 2025 - 2031.
- By Technology, the North America Companion Animal Diagnostics Market is segmented into Immunodiagnostics, Molecular Diagnostics, Clinical Biochemistry, Hematology, Urinalysis, and Others. The Immunodiagnostics segment is projected to expand at 10.7% CAGR during 2025 - 2031.
- By Application, the North America Companion Animal Diagnostics Market is segmented into Clinical Pathology, Bacteriology, Parasitology, Virology, and Others. The Clinical Pathology segment is projected to expand at 10.6% CAGR during 2025 - 2031.
- By End Users, the North America Companion Animal Diagnostics Market is segmented into Diagnostic and Reference Laboratories, Veterinary Hospitals and Clinics, Research Institutes, and Others. The Veterinary Hospitals and Clinics segment is projected to expand at 10.1% CAGR during 2025 - 2031.
By country, the North America Companion Animal Diagnostics Market is categorized into the United States, Canada, and Mexico. The United States is projected to expand at 10.2% CAGR during 2025 - 2031.
Key players operating in the Companion Animal Diagnostics Market are Zoetis Inc, Idexx Laboratories Inc, Innovative Diagnostics SAS, Tianjin LOCMEDT Technologies Co Ltd, ARI Medical Technology Co Ltd, and Demeditec Diagnostics GmbH, among others.
- In February 2025, Zoetis received a conditional license from the United States Department of Agriculture (USDA), Center for Veterinary Biologics (CVB), for its Avian Influenza Vaccine, H5N2 Subtype, Killed Virus for use in chickens. Zoetis' Avian Influenza Vaccine, H5N2 Subtype, Killed Virus was designed to closely match the currently circulating highly pathogenic H5 avian influenza and has demonstrated a reasonable expectation of efficacy against current H5N1 strains.
- In September 2022, Zoetis Inc. announced it has completed the acquisition of Jurox, a privately held animal health company that develops, manufactures and markets a wide range of veterinary medicines for treating livestock and companion animals. Jurox's operations are based in Australia, with additional regional offices in New Zealand, the U.S., Canada and the UK.
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