The market for companion animal diagnostics was valued at $5.12 billion globally in 2021 and is anticipated to grow at a rate of 9.7% during the forecast period. Key drivers influencing market revenue growth include the rising need for pet insurance, a preference for quick tests and portable equipment for Point-of-Care (PoC) diagnostic testing for animals, as well as an increase in the frequency of multiplex and zoonotic infections.

Some of the key factors driving the growth of the global Companion Animal Diagnostics market include expanding R&D efforts to develop novel Companion Animal Diagnostics products for a variety of applications and rising demand for mercury control technology for industrial air purification. The most recent data on the COVID-19 pandemic market condition is provided in the research. The investigation indicates that COVID-19 plays a vital role in the market's dynamically altered environment. The study carefully investigates how the pandemic has altered market dynamics and trends while also precisely analysing how the crisis has impacted the market as a whole.

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Effect of COVID-19 on the global market for Companion Animal Diagnostics

The COVID-19 pandemic had a significant negative influence on the market for Companion Animal Diagnostics in 2020, significantly decreasing its CAGR. In 2020, manufacturers and suppliers of Companion Animal Diagnostics were significantly impacted by federal and national safety and legal orders. The majority of businesses have been impacted by the COVID-19 pandemic. Mandates for business closures, restricted municipal and state government office activities, and social conventions of distance had an impact on the production of Companion Animal Diagnostics in 2020. Additionally, demand for Companion Animal Diagnostics decreased across a range of end-use sectors. The pandemic epidemic also resulted in a decline in global investments in the water sector.

Companion Animal Diagnostics market : Competitive Landscape

The prominent players operating in the Companion Animal Diagnostics market are profiled in-depth in the report and their strategies, collaborations, and product innovations. The analysis of the key players and their strategies to fortify their presence in the market impart a better understanding of the competitive landscape of the Companion Animal Diagnostics market .

Some of the prominent players operating in the market are:

Idexx Laboratories, Inc., Neogen Corporation, Zoetis, Inc., Heska Corporation, IDvet, Virbac, Shenzhen Mindray Animal Medical Technology Co., Ltd, Biomerieux SA, Bionote, Inc., and Randox Laboratories Ltd

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The research study examines historic data from 2018 and 2020 to draw forecasts until 2028. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.

Key questions answered in the report:

What will be the development pace of Companion Animal Diagnostics market ?

What are the key factors driving the Global Companion Animal Diagnostics market ?

Who are the key manufacturers in the market space?

What are the openings, hazards, and outline of the market?

What is sales, revenue, and price analysis of top manufacturers of Companion Animal Diagnostics market ?

Who are the distributors, traders, and dealers of Companion Animal Diagnostics market ?

What are the Companion Animal Diagnostics market opportunities and threats faced by the vendors in the Global Companion Animal Diagnostics industries?

What are deals, incomes, and value examinations by types and utilizations of the market?

What are deals, income, and value examinations by areas of enterprises?

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Segments Covered in this report are:

• Technology Type Outlook (Revenue, USD Billion; 2019-2030)

  • Clinical Biochemistry

• Animal Type Outlook (Revenue, USD Billion; 2019-2030)

  • Dogs
  • Cats
  • Others

• Application Outlook (Revenue, USD Billion; 2019-2030)

  • Clinical Pathology
  • Bacteriology
  • Parasitology
  • Virology
  • Others

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Regional Bifurcation of the Companion Animal Diagnostics market Includes:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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