Report : China Companion Animal Diagnostics Market Size and Forecast (2021 - 2031), Country Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technique (Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Urinalysis, Hematology, and Others), Product (Instruments and Consumables), Application (Bacteriology, Clinical Pathology, Virology, Parasitology, and Others), Companion Animal Type (Dogs, Cats, Horses, and Others), and End User (Diagnostic Laboratories, Veterinary Hospitals and Clinics, Research Institutes, and Others)
According to our new research study on "China Companion Animal Diagnostics Market Size and Forecast to 2030 - by Techniques, Product, Application, Companion Animal Type, and End User," the market is expected to grow from US$ 358.61 million in 2023 to US$ 806.73 million by 2031; it is estimated to record a CAGR 9.0% during 2023-2031. Increasing adoption of pets for companionship and upsurge in pet spending are driving the China companion animal diagnostics market size and growth.
Market Driver
Increasing Adoption of Pets for Companionship
The increasing adoption of pets as companions in China reflects significant social and cultural changes in recent years. As more people move to urban areas, they seek companionship in pets, especially in smaller living spaces where traditional family structures may be less common. Also, the urban lifestyles often lead to increased loneliness, prompting individuals to adopt pets for emotional support, coupled with exposure to western cultures through media and travel has popularized the idea of pets as companions. This shift not only enhances the lives of individuals but also contributes to the welfare of animals through reduced abandonment and increased adoption rates.
Additionally, in China numerous animal rescue organizations and shelters promote adoption, making it easier for potential pet owners to find companions. Many events and campaigns for pet adoption and awareness campaigns are helping people in China to connect with pets in need of homes. Some local governments are promoting pet adoption through campaigns and initiatives aimed at reducing stray populations. These are some of the major factors expected to drive the China companion animal diagnostics market growth over the forecast period.
ARI Medical Technology Co Ltd, Heska Corp, Innovative Diagnostics SAS, i-SENS Inc, Tianjin LOCMEDT Technologies Co Ltd, Universal Biosensors Inc, Zoetis Inc, Elanco Animal Health Inc, Chengdu Seamaty Technology Co., Ltd, Shenzhen Mindray Animal Medical Technology Co., LTD are among the prominent players in global China companion animal diagnostics market. Leading players adopt strategies such as the launch of new products, expansion and diversification of their market presence, and expansion of new customer base for tapping prevailing business opportunities.
The report segments China Companion Animal Diagnostics market as follows:
The China companion animal diagnostics market is segmented on the basis of techniques, test, product, application, companion animal type, and end user. Based on techniques, the China companion animal diagnostics market is segmented into immunodiagnostics, clinical biochemistry, molecular diagnostics, urinalysis, hematology, and others. The immunodiagnostics segment is further sub-segmented as lateral flow assays, ELISA tests, allergen-specific immunodiagnostics tests, and immunoassay analyzers. The clinical biochemistry segment is further divided into clinical chemistry analysis, glucose monitoring, and blood gas electrolyte analysis. The molecular diagnostics is further bifurcated into PCR, microarray, and others. The immunodiagnostics segment accounted for the largest market share in 2023 and is expected to register the highest CAGR from 2023 to 2031. Based on product, the market is segmented as instruments and consumables. The instruments segment holds the largest share in 2023, and it is expected to continue its dominance during the 2023 - 2031. Based on application the China companion animal diagnostics market is segmented into bacteriology, clinical pathology, virology, parasitology, and others. The clinical pathology segment led the market in 2023 and is expected to register the highest CAGR from 2023 to 2031. Based on companion animal type, the China companion animal diagnostics market is segmented into dogs, cats, horses, and others. The dog segment accounted for a significant share in 2023 and is expected to continue its dominance during the 2023 - 2030. By end user, the market is segmented as diagnostic laboratories, veterinary hospitals and clinics, research institutes, and others. The veterinary hospitals and clinics segment held the largest share of the China companion animal diagnostics market in 2023
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