Asia Pacific Companion Animal Diagnostics Market Size & Outlook
Asia Pacific companion animal diagnostics market, 2016-2027 (US$M)
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Asia Pacific companion animal diagnostics market highlights
- The Asia Pacific companion animal diagnostics market generated a revenue of USD 1,007.8 million in 2021.
- The market is expected to grow at a CAGR of 10.6% from 2022 to 2027.
- In terms of segment, dogs was the largest revenue generating species in 2021.
- Cats is the most lucrative species segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2022 to 2027.
Asia Pacific data book summary
| Market revenue in 2021 | USD 1,007.8 million |
| Market revenue in 2027 | USD 1,847.1 million |
| Growth rate | 10.6% (CAGR from 2021 to 2027) |
| Largest segment | Dogs |
| Fastest growing segment | Cats |
| Historical data covered | 2016 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Dogs, Cats |
| Key market players worldwide | Zoetis, IDEXX Laboratories Inc, Veterinary Pharmaceutical Solutions, Thermo Fisher Scientific Inc, Neogen Corp |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 22.1% of the global companion animal diagnostics market in 2021.
- Globally, North America is projected to lead the regional market in terms of revenue in 2027.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,847.1 million by 2027.
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Companion Animal Diagnostics Market Scope
Companion Animal Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific companion animal diagnostics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to companion animal diagnostics market will help companies and investors design strategic landscapes.
Dogs was the largest segment with a revenue share of 47.87% in 2021. Horizon Databook has segmented the Asia Pacific companion animal diagnostics market based on dogs, cats covering the revenue growth of each sub-segment from 2016 to 2027.
Asia Pacific region is expected to exhibit significant growth over the forecast period. Increasing adoption of pet animals, growing health concerns about animals, and rising prevalence of diseases in animals are among the factors driving the market growth in Asia Pacific.
Furthermore, rising healthcare expenditure on animal health and veterinary services is contributing to the growth of the market. Growing state and government reforms for animal welfare have fueled the market growth in Australia.
Government regulations such as the Australian Animal Welfare Strategy (AAWS) and National Implementation Plan 2010-14 have been developed for improving animal care in the country. Moreover, according to Animal Medicines Australia, Australians invest approximately USD 2.6 billion yearly in pet care. Such factors are driving market growth.
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Target buyers of Asia Pacific companion animal diagnostics market databook
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Our clientele includes a mix of companion animal diagnostics market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific companion animal diagnostics market, including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific companion animal diagnostics market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Asia Pacific companion animal diagnostics market size, by country, 2016-2027 (US$M)
Asia Pacific Companion Animal Diagnostics Market Share, 2021 & 2027 (US$M)
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