U.S. companion animal diagnostics market seen reaching $3.27 billion by 2032

A new Allied Market Research report says the U.S. companion animal diagnostics market was worth $1.49 billion in 2022 and could more than double by 2032. Growth is being driven by more pet ownership, chronic disease in pets, and broader use of advanced veterinary testing.

Why it matters: - The U.S. companion animal diagnostics market is projected to more than double over the next decade, signaling strong demand for veterinary testing tied to pet health care. - Rising chronic disease in companion animals is pushing earlier detection, ongoing monitoring and more frequent diagnostic use. - Growth in pet insurance and advanced testing technologies could make diagnostic services more accessible to pet owners.

What happened: - Allied Market Research said the U.S. companion animal diagnostics market was valued at $1.49 billion in 2022. - The market is forecast to reach $3.27 billion by 2032. - The report projects 8.2% compound annual growth from 2023 to 2032. - The study covers the market by technology, application, animal type and end user. - The report is titled "U.S. Companion Animal Diagnostics Market by Technology, Application, Animal Type, and End User: Opportunity Analysis and Industry Forecast, 2023–2032." - The sample report is available here. - The report can also be purchased here.

The details: - A growing number of U.S. pet owners is expanding demand for companion animal diagnostics. - Greater awareness of pet health and the emotional benefits of pet ownership is lifting interest in advanced diagnostic solutions. - Chronic diseases among companion animals are increasing demand for early disease detection and monitoring. - Technology improvements in molecular diagnostics, immunodiagnostics and point-of-care testing are improving diagnostic accuracy and speed. - Expansion of the pet insurance industry is encouraging more pet owners to pursue comprehensive diagnostic services. - The clinical biochemistry segment held the largest technology share in 2022, at about one-third of total revenue. - Clinical pathology was the top application segment in 2022, with more than one-third of market revenue. - Dogs generated nearly half of market share in 2022, making them the largest animal type segment. - Diagnostic laboratories accounted for more than one-third of total revenue in 2022, making them the leading end-user segment. - Key companies listed in the market include IDEXX Laboratories, Zoetis, Thermo Fisher Scientific, bioMérieux, Heska, Neogen, Virbac and Fujifilm Holdings, along with other diagnostics and animal health firms. - These companies are focusing on product innovation, strategic collaborations and broader diagnostic portfolios.

Between the lines: - The report points to a shift from basic veterinary testing toward faster, more specialized and more automated diagnostics. - AI-enabled diagnostic platforms are emerging as a future growth area, suggesting the market may reward companies that combine data tools with lab and point-of-care testing. - The strongest segments reflect where pet spending and disease burden are already concentrated: dogs, clinical pathology and laboratory testing.

What's next: - Allied Market Research expects the market to benefit from more veterinary infrastructure investment and wider adoption of preventive pet care. - Broader pet insurance coverage could continue to increase diagnostic utilization. - Demand for rapid, accurate and cost-effective testing is likely to create new opportunities for market participants through 2032. - The report says it includes market dynamics, competitive developments, investment opportunities and strategic recommendations for stakeholders. - Regional coverage in the report spans North America, Europe, Asia-Pacific and LAMEA. - Contact details listed for the report include David Correa, help@alliedmarketresearch.com, and +1-800-792-5285. - Allied Market Research also listed social media links for its company pages on LinkedIn, Facebook, YouTube and X.