India Companion Animal Diagnostics Market Size & Outlook
India companion animal diagnostics market, 2016-2027 (US$M)
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India companion animal diagnostics market highlights
- The India companion animal diagnostics market generated a revenue of USD 220.7 million in 2021 and is expected to reach USD 441.4 million by 2027.
- The India market is expected to grow at a CAGR of 12.2% 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.
Companion animal diagnostics market data book summary
| Market revenue in 2021 | USD 220.7 million |
| Market revenue in 2027 | USD 441.4 million |
| Growth rate | 12.2% (CAGR from 2021 to 2027) |
| Largest segment | Dogs |
| Fastest growing segment | Cats |
| Historical data | 2016 - 2020 |
| Base year | 2021 |
| Forecast period | 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, India accounted for 4.8% of the global companion animal diagnostics market in 2021.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2027.
- In Asia Pacific, Japan companion animal diagnostics market is projected to lead the regional market in terms of revenue in 2027.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 441.4 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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India 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 49.8% in 2021. Horizon Databook has segmented the India 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 expected to grow over the forecast period owing to rising government efforts to improve veterinary healthcare facilities & various funding schemes delivered by the state as well as the national government.
According to Indian Government’s Open Government Data Platform, India had 11,367 veterinary hospitals/polyclinics as of March 2016. Rajasthan, Uttar Pradesh, and Punjab together accounted for over 50% of veterinary hospitals and polyclinics.
The government is providing funding for the establishment and strengthening of existing veterinary hospitals and dispensaries, thereby increasing growth opportunities in India. Moreover, according to Indian Pet and Equine industry, the average annual growth of pet population is 7.4% and the annual growth for pet care revenue in India is 23%. These factors are anticipated to boost market growth in the country.
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Target buyers of India 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 country-level data and insights on the India companion animal diagnostics market, including forecasts for subscribers. This country databook contains high-level insights into India companion animal diagnostics market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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India companion animal diagnostics market size, by species, 2016-2027 (US$M)
India Companion Animal Diagnostics Market Share, 2021 & 2027 (US$M)
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