Companion Animal Diagnostic Market Size, Growth, Trends | 2022-27

 

Market Overview:

Over the forecast period, the companion animal diagnostic market is anticipated to experience a CAGR of 9.2%. (2022–2027).

The COVID-19 pandemic has also drastically altered daily life, resulting in social withdrawal and lockdowns in many countries. Many people experienced loneliness during the lockdown, which had a negative effect on their mental health. As a result, many of them had purchased pets during the lockdown. In contrast to the years prior to the pandemic, the Japan Pet Food Association’s 2020 survey discovered a 15.0% increase in dog and cat ownership.

As of October 2020, it was estimated that 8.5 million dogs and 9.5 million cats were kept as pets in Japan. Similarly, between March 2020 and May 2021, 2.0 million people in the UK owned pets, according to the People’s Dispensary for Sick Animals (PDSA) PAW report, which was published in June 2021. Thus, as pet ownership increased, so did the demand for companion animal diagnostic procedures, leading to the market’s significant growth over the forecast period.

Scope of the Report:

According to its purview, companion animal diagnostic entails identifying, spotting, and assessing the severity of a number of diseases connected to companion animals. Animals (cats, dogs, horses, and other animals), Applications (bacteriology, parasitology, clinical pathology, and other applications), and Geography are the segments used to categorise the companion animal diagnostic market (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also includes projected market sizes and trends for 17 different nations in the world’s major geographical regions. The report provides the value for the aforementioned segments (in USD million).

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