Pet health screening refers to diagnostic procedures and tests that are conducted to check the overall health of pet animals. Various screening tests such as bloodwork, urine analysis, fecal analysis, skin/ear infection screening help veterinarians diagnose diseases and health issues at an early stage. Growing companion animal industry and rising demand for pet insurance have led to increased focus on preventive healthcare for pets.
Advanced screening technologies aid early detection of cancer, kidney disease, heart disease, and gastrointestinal issues. This helps commence timely medical intervention and improves quality of life of pets. Growing awareness about veterinary healthcare and preventive screening is driving higher spending on regular checkups and diagnostics for pets.
The Global Pet Health Screening Market is estimated to be valued at US$ 2.52 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Pet Health Screening are Zoetis Inc., IDEXX Laboratories Inc., Mars Petcare, Boehringer Ingelheim, Elanco Animal Health, Merck Animal Health, Ceva Santé Animale, Virbac, Neogen Corporation, PetIQ, Vetoquinol S.A., Heska Corporation, Abaxis, Inc., Antech Diagnostics, and Trupanion, Inc. These players are focusing on developing advanced diagnostics and investing in research for novel pet screening solutions.
Market key trends
Cloud-based diagnostics is emerging as a key trend in the Pet Health Screening Market size developing cloud-based screening platforms that enable quick and easy sharing of pet medical records, including screening reports, between veterinarians and pet owners.This helps improve patient care and management. Another major trend is growing popularity of at-home screening tests. Major players offer self-screening test kits for conditions like heartworm that can be conducted at home and diagnostic reports sent via email or mobile apps. This provides convenience to pet owners and aids early detection. Growing applications of screening data analytics is also a notable trend. Analyzing pet screening records helps identify high-risk populations and develop more effective healthcare strategies.
Porter's Analysis
Threat of new entrants: The pet health screening market requires huge investment in R&D activities and laboratory infrastructure. This acts as a barrier for new companies.
Bargaining power of buyers: Buyers have high bargaining power as there are many players operating in this market providing similar services. Buyers can negotiate on price.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative raw material suppliers in the market.
Threat of new substitutes: There exist low threat of substitution as pet health screening offers early disease detection which increases pet life.
Competitive rivalry: The market is highly competitive due to presence of many international brands. Companies focus on expanding their service offerings and global footprints.
Geographical Regions
Pet Health Screening Market Regional Analysis holds the largest share in the pet health screening market in terms of value, owing to high pet ownership and routine health checkups in the region. The United States generates maximum revenue.
Asia Pacific is expected to witness the fastest growth during the forecast period due to rising disposable income, increasing pet adoption, and growing awareness about animal health. Countries like China and India will drive the market in the region.
Identify the language that you favor.
Get More Insights On Pet Health Screening Market
About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
Write a comment ...