IMARC Group, a leading market research company, has recently releases report titled “Veterinary Molecular Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global veterinary molecular diagnostics market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Veterinary Molecular Diagnostics Market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 634.9 Million |
| Market Forecast in 2028 | US$ 1,064.8 Million |
| Growth rate (2023 to 2028) | CAGR of 8.8% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is Veterinary Molecular Diagnostics?
Veterinary molecular diagnostics help clinicians detect, identify, and genotype various viral, bacterial, and vector-borne infections in animals using molecular-based techniques such as conventional and quantitative polymerase chain reactions (PCR). They require small amounts of various biological sample types for rapid and highly sensitive detection of nucleic acids and diagnosis of infectious diseases. As a result, veterinary molecular diagnostics finds extensive applications in research labs and animal healthcare facilities across the globe.
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What are the growth prospects and trends in the veterinary molecular diagnostics industry?
The global veterinary molecular diagnostics market is primarily driven by the rising animal husbandry activities and the growing incidences of zoonotic diseases. Moreover, the surging adoption of veterinary molecular diagnostics due to increasing food safety concerns is positively influencing market growth.
Additionally, there has been a rise in demand for veterinary molecular diagnostics owing to the rising awareness about animal health and well-being among pet parents. In line with this, the emerging trend of pet humanization coupled with increasing pet ownership rates has augmented product demand. Besides this, the expanding livestock population due to the rising demand for animal-derived products has catalyzed market growth.
Furthermore, the increasing adoption of PCR testing to examine the effect of infection in animals amid the sudden coronavirus disease (COVID-19) outbreak is contributing to market growth. Other factors, including rising adoption of pet insurance policies, increasing pet healthcare expenditure, and ongoing product innovations, are also anticipated to create a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Market 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
Who are the key players operating in the industry?
The report covers the major market players including:
- 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.
- Zoetis Inc.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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