Europe Companion Animal Diagnostics Market Size & Outlook
Europe companion animal diagnostics market, 2016-2027 (US$M)
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Europe companion animal diagnostics market highlights
- The Europe companion animal diagnostics market generated a revenue of USD 1,121.0 million in 2021.
- The market is expected to grow at a CAGR of 7.9% 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, Germany is expected to register the highest CAGR from 2022 to 2027.
Europe data book summary
| Market revenue in 2021 | USD 1,121.0 million |
| Market revenue in 2027 | USD 1,769.9 million |
| Growth rate | 7.9% (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, Europe region accounted for 24.6% 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 |
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Europe 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 42.23% in 2021. Horizon Databook has segmented the Europe companion animal diagnostics market based on dogs, cats covering the revenue growth of each sub-segment from 2016 to 2027.
The companion animal diagnostics market is anticipated to grow in the U.S. due to growing number of animal healthcare centers and practitioners. For instance, according to data retrieved by AVMA report, in 2017, there were a total of 110,531 veterinary practitioners in the nation, however, in 2018, the number increased to 113,349 practitioners.
In addition, growing concerns of owners regarding their pets have increased pet care expenditure, which is further driving the market for veterinary medicine. According to a report by AVMA, in 2018, on average, an owner spent approximately USD 1,285 on medications and veterinary visits. These factors are anticipated to boost the U.S. companion animal diagnostics market demand.
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Target buyers of Europe 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 Europe companion animal diagnostics market, including forecasts for subscribers. This continent databook contains high-level insights into Europe companion animal diagnostics market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Europe companion animal diagnostics market size, by country, 2016-2027 (US$M)
Europe Companion Animal Diagnostics Market Share, 2021 & 2027 (US$M)
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