How has IDEXX Labs' Companion Animal Group revenue trended in the past year?

IDEXX Labs' Companion Animal Group (CAG) revenue has shown a consistent growth trajectory over the past year, with several key performance indicators indicating robust market demand and operational effectiveness:

1. **Growth in CAG Diagnostics Recurring Revenue**: The CAG Diagnostics recurring revenue grew by 7% organically, which is a strong indicator of increased diagnostic demand and customer retention.
2. **Organic Growth in CAG Revenue**: The Companion Animal Group (CAG) revenue grew by 7% organically, driven by solid diagnostic recurring revenue growth and strong regional performance in Water revenue.
3. **New Product Launch Impact**: The launch of new products, such as the IDEXX inVue Dx Cellular Analyzer, has likely contributed to the growth in CAG revenue, as new solutions often lead to increased customer adoption and revenue.
4. **Market Position and Customer Retention**: IDEXX's strong market position and high customer retention rates have supported consistent revenue growth across its segments, including CAG.
5. **Long-term Growth Outlook**: The aging pet population presents a significant long-term growth opportunity for IDEXX's CAG segment, with expected increased care requirements from summer 2024 through 2030.

In summary, IDEXX Labs' Companion Animal Group has demonstrated solid growth over the past year, driven by a combination of organic revenue expansion, new product introductions, and favorable market conditions. The company's strategic positioning and customer-centric approach are likely key factors in sustaining this growth trajectory.