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 6.2% 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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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.