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The latest research study "Veterinary Molecular Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global veterinary molecular diagnostics market size 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.
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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.
Veterinary molecular diagnostics aid in identifying, detecting, and genotyping a wide range of bacterial, viral, and vector-borne pathogens among animals using molecular-based methods. Some of the commonly used diagnostics involve conventional, real-time, fluorescent in situ hybridization (FISH), proteomic innovations, peptide nucleic acids (PNA), biochips, nanotechnology, an electrochemical reaction in DNA, and quantitative polymerase chain reaction (PCR) techniques. They are extensively utilized in veterinary clinics, home testing, and diagnostic centers to allow sensitive detection of nucleic acids and diagnosis of contagious diseases. Nowadays, various molecular techniques of different complexity are employed in veterinary health centers and research laboratories to enable the fast and specific diagnosis of animal diseases.
Veterinary Molecular Diagnostics Market Trends and Drivers:
The market is primarily driven by the expanding animal husbandry and rising prevalence of numerous animal diseases. In addition, the rising adoption of advanced diagnostic techniques and growing awareness about food safety is contributing to the market growth. Moreover, the sudden outbreak of coronavirus disease (COVID-19) has increased the requirement for PCR testing to examine the effect of the infection in animals.
This, coupled with governing agencies supporting veterinary practices and commercial animal-production programs, represents another growth-inducing factor catalyzing the demand for veterinary molecular diagnostics for better diagnosis and treatment of livestock.
Apart from this, the introduction of advanced genotyping techniques, such as whole-genome sequencing (WGS), in confluence with the surging demand for customized reagents and kits, is anticipated to create a positive market outlook.
Other factors, including rising technological advancement in research and development (R&D) activities, and increasing pet ownership due to inflating income levels, are positively influencing the market growth.
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Global Veterinary Molecular Diagnostics Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Who are the key players in the Global Veterinary Molecular Diagnostics Market?
Biochek B.V., bioMérieux SA, HealthGene Corporation, Heska Corporation, IDEXX Laboratories Inc., INDICAL BIOSCIENCE GmbH, Ingenetix GmbH, NEOGEN Corporation, Qiagen N.V, Thermo Fisher Scientific Inc., Veterinary Molecular Diagnostics Inc. and Zoetis Inc.
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
• Instruments
• Software and Services
Breakup by Technology:
• Real Time PCR
• Microarray
• DNA Sequencing
Breakup by Animal Type:
• Companion Animal
• Livestock Animal
Breakup by Disease Type:
• Vector-borne Diseases
• Respiratory Pathogens
• Diarrhea Pathogens
• Others
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
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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About Us:
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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