Asia Pacific Companion Animal Diagnostics Market Analysis, Size, and Share by 2027

The Asia Pacificcompanion animal diagnostics marketis expected to reach US$ 598.2 million by 2027 from US$ 435.7 million in 2019; it is estimated to grow at a CAGR of 4.6% from 2020 to 2027.

The key factors driving the growth of companion animal diagnostics are growing prevalence of chronic diseases in pet animals and increasing adoption of pet animals in the region. However, rising pet care costs is the major factor hindering the market growth in Asia Pacific.

The companion animal diagnostics product takes care of the diagnosis of different of diseases in the pet animals. These product deals with the epidemiology and pathogenesis of the domestic animal and prevents further complications with health of the pet as well as the owner. These products are normally used for the animals like cats, dogs, horses.

The increasing demand for rapid tests, portable instruments and the use of advanced technologies like machine learning is offering potential growth opportunities for Asia Pacific Companion Animal Diagnostics market players in the companion health animal diagnostics market. There has been a paradigm shift in veterinary medicine. Artificial intelligence can be used in collecting data to address a wide range of chronic diseases thereby offering an opportunity to leverage these platforms for veterinary health markets. In the last few years, the industry has witnessed few product launches associated with artificial intelligence. Many market players have ventured into this field to offer innovative and effective offerings. For instance, Fujifilm has expanded its digital x-ray imaging system (Fuji Computed Radiography, FCR) to veterinary medicine. With high-definition images that can capture even microscopic lesions, which helps veterinarians to make an accurate diagnosis. In view of this many players have come up with advanced solutions to enhance disease diagnosis. Thus, the growing product launches and awareness in the Asia Pacific countries will drive the growth of the market in the forecasted period.

The Asian countries such as China, South Korea, and India are profoundly affected due to the COVID-19. This situation has left many pet/companion animal orphans. The infected people were quarantine. Therefore, this has affected the behavior of companion animals. Therefore, it is expected that the COVID-19 has impacted the Asian countries with moderate to high severity.

Rest of Asia PacificCompanion Animal Diagnostics Market,Revenue and Forecast to 2027 (US$ Mn)

ASIA PACIFICCOMPANION ANIMAL DIAGNOSTICS MARKET SEGMENTATION

By Technology

• Immunodiagnostics
  • Lateral Flow Assays
  • Elisa Tests
  • Allergen-Specific Immunodiagnostic Tests Diagnostics
  • Immunoassay Analyzers
• Clinical Biochemistry
  • Clinical Chemistry Analysis
  • Glucose Monitoring
  • Blood Gas Electrolyte Analysis
• Hematology
• Urinalysis
• Molecular Diagnostics

By Application

• Bacteriology
• Clinical Pathology
• Virology
• Parasitology
• Others

By Animal Type

• Dogs
• Cats
• Horses
• Others

By End-User

• Diagnostic Laboratories
• Veterinary Hospitals and Clinics
• Research Institutes and Universities

By Country

• Japan
• China
• India
• South Korea
• Australia

Company Profiles

• Shenzhen Mindray Bio-Medical Electronics Co., Ltd
• Fujifilm Corporation
• Skyla Corporation
• Idexx Laboratories, Inc
• Virbac

Asia Pacific Companion Animal Diagnostics Report Scope