Idexx Laboratories aims to revolutionise veterinary diagnostics with new market opportunities and expanded testing portfolio

Idexx Laboratories positions the global companion-animal testing market as a vast, underexploited opportunity, unveiling new diagnostics and strategic growth plans to capitalise on increasing demand for preventive pet care.

IDEXX Laboratories used its latest investor presentation to frame veterinary diagnostics as a large, underpenetrated market, pointing to a $45bn global companion-animal testing opportunity and a business model built around more frequent screening, higher instrument utilisation and software-led workflow gains.

Chief executive Mike Erickson said the company believes there is still substantial room to lift routine testing, noting that only 13% of US wellness visits currently include blood work. He argued that earlier detection is becoming more commercially attractive as pets live longer and practices place greater emphasis on preventive care. IDEXX estimates that blood tests and urinalysis uncover clinically meaningful abnormalities in roughly one in four apparently healthy pets.

The group is extending its menu across point-of-care devices and reference laboratories. It has launched quantitative proBNP cardiac testing on its Catalyst platform and said more than 9,000 inVue Dx cytology systems have been placed globally. It is also broadening Cancer Dx beyond lymphoma, with mast cell tumour testing due in September and hemangiosarcoma in December.

According to the company, the oncology panel could eventually cover half of canine cancers by 2028. IDEXX also plans to unveil more on MultiCue Dx in January.

Chief financial officer Andrew Emerson said 2026 operating margin should exceed 32%, while the company reaffirmed long-term organic revenue growth of more than 10%.