ZT ZTS Zoetis Loading... : Bullish and Bearish Analyst Opinions

IDEXX's growth is now decoupled from clinic visit counts, driven by diagnostics intensity per visit and aging pet demographics. — This highlights that diagnostics utilization growth can persist despite flat/declining sector visit volume, a key factor for animal health peers.

Despite soft clinical visits, IDEXX is seeing sustained growth in diagnostics frequency and utilization, particularly for non-wellness visits (60% of visits, 70-75% of diagnostics revenue). This signals a key trend in the sector: while visit counts are flat, the complexity and volume of testing per visit is increasing, leading to resilient diagnostics revenue growth. — This trend reinforces the resilience of the diagnostics business model versus the broader pet healthcare market, and could benefit other diagnostics-focused players (e.g., Zoetis's diagnostics segment) as they look to grow revenue in a low-visit environment.