PET HEALTH SCREENING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Pet Health Screening Market Size and Trends

The global pet health screening market is estimated to be valued at USD 2.52 Bn in 2024 and is expected to reach USD 3.81 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031.

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The pet health screening market is expected to witness positive growth over the forecast period. Key factors such as rising pet adoption, increasing pet healthcare expenditure, and growing prevalence of pet obesity and other diseases are expected to drive the demand for various pet health screening tests. In addition, increasing awareness about early diagnosis and preventive healthcare for pets along with growing pet humanization are further expected to support the market growth during this period. Various technological advancements in pet screening tests such as rapid diagnosis tests with portable instruments and rise of telehealth for pets would also provide potential growth opportunities in the coming years. However, high cost of certain screening tests and lack of mandatory screening policies could hinder the market growth to some extent during the forecast period.

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Insights By Product Type - Early Disease Detection Leads Growth in Diagnostic Tests Segment

In terms of product type, diagnostic tests segment is expected to contribute the highest market share of 42.1% in 2024 owing to its ability to detect diseases at an early stage. Diagnostic tests such as blood tests, urinalysis, and fecal tests allow vets to identify health abnormalities in pets even before clinical signs develop. This gives pet owners and vets a head start in treatment and allows for better prognosis. Diagnostic tests have become more advanced in recent years with new biomarkers and analytes being added that can identify conditions with more accuracy.

Insights By Animal Type - Bond with Companion Animals Boosts Cats and Dogs Segment

In terms of animal type, the dogs segment is expected to contribute the highest market share of 43.12% in 2024 owing to their long-standing status as man's best friend. People form strong emotional bonds with dogs as companions and view them as an integral part of the family. This drives greater focus on canine health among owners who spare no efforts or costs to ensure their dogs live long, happy lives. Growing 'humanization' trend where dogs are given best diet, daycare, and health screening furthers growth.

Insights By End User - Veterinary Hospitals Deploy Advanced Tools to Draw Customers

In terms of end user, veterinary hospitals segment is expected to contribute the highest market share of 36.1% in 2024 owing to their access to comprehensive services and sophisticated equipment. Hospitals strive to differentiate by investing in the latest diagnostic modalities and tie-ups with specialty clinics. This gives them an edge over basic clinics by catering to complex cases and uncommon conditions. Hospitals also employ specialist veterinarians trained in multiple disciplines. Their premium services catering to all pet needs under one roof appeal to discerning pet owners who are willing to spend more.

Regional Insights

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Dominating Region: North America

North America dominates the pet health screening market with an estimated share of 36.2% in 2024. This can be attributed to factors such as rising pet ownership, increasing awareness about pet wellness, and stringent regulations regarding pets' health and care. Additionally, the presence of major pet care service providers like Mars Petcare in the U.S and growth of telehealth services for pets have boosted the market growth in the region.

Fastest-Growing Region: Asia Pacific

Meanwhile, the Asia Pacific region exhibits the fastest growth due to a rapidly expanding middle class, growing pet humanization, and rising disposable incomes in densely populated countries like China and India. Government initiatives like animal welfare legislation to promote animal welfare along with increased spending on pet care are further contributing to the market growth.

Pet Health Screening Market Outlook for Key Countries

Growth Driven by High Pet Ownership and Investment in Pet Health Services in the U.S.

The U.S. pet health screening market is driven by a high pet ownership rate. In December 2022, the American Pet Products Association reported that pet owners spent over US$ 100 billion on pet care in 2023, highlighting the increasing investment in pet health services. Additionally, in January 2024, IDEXX Laboratories launched a new rapid diagnostic test for pets, enhancing early detection capabilities

Rising Awareness and Innovative Funding Solutions Fuel the Canada Pet Health Screening Market

The Canada pet health screening market is expanding due to rising awareness about preventive healthcare among pet owners. A survey conducted by the, In December 2023 Canadian Veterinary Medical Association revealed that approximately 60% of pet owners prioritize regular health screenings for their pets. This demonstrates a growing trend toward preventive care, as more pet owners recognize the value of regular check-ups to maintain their pets' health.

Pet Insurance Uptake and Government Initiatives Drive Health Screening Demand in the U.K.

The U.K. pet health screening market is influenced by increasing pet insurance uptake, with 50% of pets insured as of 2023, according to data reported by GlobalData Plc in October 2024. This trend encourages pet owners to seek regular health screenings to maximize their insurance benefits. In April 2023, a new initiative by the U.K. government aimed to improve pet health standards, further driving the demand for health screening services.

Increasing Pet Ownership and Expanded Diagnostic Services Boost Pet Health Screening in Germany

Germany pet health screening market is experiencing growth, driven by a rise in pet ownership and a cultural focus on pet health. According to a report by the German Pet Trade Association released in August 2023, pet care spending reached USD 5 billion in 2023, with a significant portion dedicated to health services, including diagnostic tests and preventive care. This reflects a growing awareness among pet owners about the importance of regular health screenings for their pets, further supported by the increasing popularity of pet insurance.

Market Concentration and Competitive Landscape

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Top Strategies Followed by Global Pet Health Screening Market Players

• Established Players: Leading companies in the global pet health screening market focus extensively on research and development to innovate high-performance products. Companies like IDEXX Laboratories, Heska Corporation, and Zoetis invest over 10% of their annual revenue in R&D. This allows them to develop advanced diagnostic tools such as PCR-based disease screening panels and rapid diagnostic tests.
• Mid-Level Players: Mid-level players in the market aim to deliver quality pet screening products at affordable prices. This enables them to target price-sensitive consumers effectively. Companies like Thermo Fisher Scientific and Virbac offer reasonably priced screening tests and diagnostic kits for common pet ailments. They design their solutions by optimizing production processes and selecting cost-effective raw materials.
• Small-Scale Players: Small players competing in the global pet health screening market focus on niche specialty areas. For instance, companies like Anigen Veterinary Diagnostics specialize in allergy and autoimmune disease screening exclusively. Similarly, Gribbles Veterinary offers screening services and products targeted only at breeding clubs and high-end veterinary practices.

Emerging Startups in the Global Pet Health Screening Market

Innovative Technologies: Startups like PetDx and Labcorp are leveraging advanced technologies such as AI and machine learning to improve diagnostic accuracy in veterinary settings. PetDx, for instance, has developed a liquid biopsy test to detect multiple cancers in pets, showing great promise in increasing early diagnosis. These innovations have the potential to disrupt the market by providing non-invasive, early-stage detection, which could increase the adoption rate of pet health screening in markets worldwide.

Sustainable Solutions: Emerging startups are addressing specific pet health needs, such as offering allergy screenings or wellness testing kits for exotic pets. In April 2024, a startup, PetWellness, launched an allergy screening kit for cats, filling a gap in a growing niche market. Collaborating with veterinary universities and research institutions, such as the partnership between PetDx and Cornell University’s College of Veterinary Medicine in June 2024, allows startups to benefit from clinical data and improve their diagnostic accuracy.

Key Takeaways from Analyst

• The global pet health screening market is poised for significant growth, fueled by rising pet ownership and a growing focus on pet health. Pet owners' increasing concerns about their pets' well-being are driving the demand for early disease detection through non-invasive screening methods like blood tests and X-rays. North America leads the market, while Asia Pacific is expected to see the fastest growth, supported by rising incomes and urbanization.
• Challenges include the high cost of advanced screenings and limited awareness in rural areas. However, expanding veterinary infrastructure and customer education can address these obstacles, unlocking further market potential, especially in developing regions.

Market Report Scope

Market Dynamics

Market Driver - Increasing pet ownership and spending on pet health

As human civilization has progressed over time, the nature of human-pet relationships have also evolved. Pets are no longer considered as mere working animals or companions but have increasingly become valued members of families. This changing perception has led to more people owning pets. In July 2023, according to Pew Research Center, over 60% of households in North America and Western Europe now own a pet, with dogs and cats being the most popular. As people spend more time living in urban environments away from their families, many see pets as a way to reduce loneliness and get unconditional love and affection.

Market Challenge - High costs associated with advanced diagnostic tools

The high costs associated with advanced diagnostic tools is a major challenge for the global pet health screening market. Advanced diagnostic tests such as X-rays, CT scans, ultrasound imaging, and blood tests require expensive medical equipment that many pet owners cannot afford. These specialized tools are needed to screen for various diseases and health conditions in pets. However, the hefty price tags attached to diagnostic machines and consumables means that only high-end veterinary clinics in developed markets have been able to invest in them.

Market Opportunity - Growth in telemedicine and remote monitoring solutions

The rapid growth of telemedicine and remote pet monitoring solutions offers tremendous opportunity for the global pet health screening market. Advanced technologies such as wearable activity trackers, smart feeding bowls, and Internet of Things (IoT) devices have enabled round-the-clock remote monitoring of pets. This allows veterinarians and pet owners to screen for abnormalities in pets' behavior, eating and activity patterns, as well as continuously track vital signs from afar.

Market Segmentation

• By Product Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Diagnostic Tests
    • Genetic Testing
    • Blood Testing
    • Urinalysis
  • Monitoring Devices
    • X-rays
    • Ultrasound
    • Others
  • Software
  • Services
• By Animal Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Dogs
  • Cats
  • Other Pets
• By End User Insights (Revenue, USD Bn, 2019 - 2031)
• • Veterinary Hospitals
  • Veterinary Clinics
  • Home Care Settings
  • Diagnostic Centers
  • Academic and Research Institutes
  • Others (Pet Grooming Centers, Research Institutions)
• By Application Insights (Revenue, USD Bn, 2019 - 2031)
• • Disease Screening
  • Genetic Trait Testing
  • Allergy Testing
  • Routine Health Check
  • Weight and Nutrition Management
  • Others (Bone Density Test, Vision Screening, etc.)
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
• • 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
  • Trupanion, Inc.