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

Regional Analysis

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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.