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According to the latest report by IMARC Group, titled “Global Veterinary Molecular Diagnostics Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global veterinary molecular diagnostics market reached a value of US$ 581.4 million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,064.1 million by 2027 exhibiting a CAGR of 9.40% during 2022-2027.
Veterinary molecular diagnostics refer to advanced laboratory techniques used to analyze the RNA, DNA, or other proteins in animals for disease diagnosis. Some commonly employed molecular-based methods include conventional, singleplex, multiplex, quantitative, and real-time polymerase chain reaction (PCR). They are utilized to identify, detect, and genotype various viral, bacterial, and vector-borne pathogens among animals. They require small amounts of a diverse spectrum of biological sample types and enable rapid and highly sensitive detection of nucleic acids to diagnose infectious diseases. As a result, veterinary molecular diagnostics find extensive applications in veterinary health centers and research laboratories.
|Base year: 2021|
|Forecast Year: 2022-2027|
Veterinary Molecular Diagnostics Market Trends and Drivers:
The global veterinary molecular diagnostics market is primarily driven by the widespread prevalence of zoonotic diseases and the surging pet ownership rates. Additionally, the growing animal husbandry activities and the rising concerns regarding food safety have augmented the product demand.
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Besides this, the recent outbreak of coronavirus disease (COVID-19) has accelerated the adoption of PCR testing for analyzing the impact of the infection in animals. Along with this, several key players are launching customized reagents and kits and developing advanced genotyping techniques like whole-genome sequencing (WGS), which is catalyzing the market growth.
Other factors, including the escalating demand for animal-derived products, favorable government initiatives, increasing pet healthcare expenditure, and rising awareness about animal health and wellness, are also anticipated to drive the market further.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Veterinary Molecular Diagnostics Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Biochek BV, bioMérieux SA, HealthGene Corporation, Heska Corporation, IDEXX Laboratories Inc., INDICAL BIOSCIENCE GmbH, Ingenetix GmbH, NEOGEN Corporation, Qiagen NV, Thermo Fisher Scientific Inc., Veterinary Molecular Diagnostics Inc. and Zoetis Inc.
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The report has segmented the market on the basis of region, product, technology, animal type, disease type and end user.
Breakup by Product:
- Kits and Reagents
- Software and Services
Breakup by technology:
- Real time PCR
- DNA sequencing
Breakup by Animal Type:
- Companion Animal
- Livestock Animal
Breakup by disease type:
- Vector-borne Diseases
- respiratory pathogens
- diarrhea pathogens
Breakup by End User:
- Veterinary Hospitals
- Clinical Laboratories
- Research Institutes
Breakup by region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- value chain
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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