IMARC Group’s latest report, titled “Veterinary Molecular Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global veterinary molecular diagnostics market size reached US$ 581.4 Million in 2021. Veterinary molecular diagnostics comprise advanced laboratory methods to detect, identify, and genotype various viral, bacterial, and vector-borne pathogens among animals. Some commonly utilized molecular-based techniques include polymerase chain reaction (PCR), in situ hybridization (ISH), nucleic acid sequence-based amplification (NASBA), and proteomics. They aid clinicians in examining the ribonucleic acid (RNA), deoxyribonucleic acid (DNA), or other proteins in animals to diagnose diseases or the predisposition stage. In recent years, veterinary molecular diagnostics have gained immense traction across research laboratories and veterinary health centers since they facilitate rapid and highly accurate detection of nucleic acids and diagnosis of infectious diseases.
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 Trends:
The surging incidences of zoonotic diseases and the rising animal husbandry activities represent the primary factors driving the market growth. Besides this, the expanding livestock population due to the escalating demand for animal-derived products is another major growth-inducing factor. In addition, there has been widespread adoption of veterinary molecular diagnostics due to growing food safety concerns. Along with this, the increasing pet ownership rates and the emerging pet humanization trend have augmented the product demand owing to the rising awareness about animal health and wellbeing among pet parents. Furthermore, the recent advancements in proteomics and nanotechnology have led to the development of innovative, fully automated, and high throughput systems. In line with this, the surging demand for customized reagents and kits has catalyzed market growth. Moreover, the sudden outbreak of coronavirus disease (COVID-19) has accelerated the adoption of PCR testing to examine the effect of the infection in animals. Other factors, including the launch of advanced genotyping techniques, favorable government initiatives, rising adoption of pet insurance policies, increasing pet healthcare expenditure, development in the animal healthcare sector, and product innovations, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 1,064.1 Million by 2027, expanding at a CAGR of 9.40% during the forecast period (2022-2027).
- Based on the product, the market has been segregated into kits and reagents, instruments, and software and services.
- The market has been classified based on technology into real-time PCR, microarray, and DNA sequencing.
- On the basis of the animal type, the market has been bifurcated into companion and livestock animals.
- Based on the disease type, the market has been categorized into vector-borne diseases, respiratory pathogens, diarrhea pathogens, and others.
- The market has been divided based on the end user into veterinary hospitals, clinical laboratories, and research institutes.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being 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.
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