Veterinary Molecular Diagnostics Market Growth, Industry Share, and Forecast Report 2023-2028
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 growth, size, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Veterinary Molecular Diagnostics
Veterinary molecular diagnostics facilitates the detection, identification, and characterization of pathogens or genetic variations among animals. They are designed to provide quick, accurate, and reliable results. They leverage technologies like polymerase chain reaction (PCR), quantitative PCR (qPCR), and deoxyribonucleic acid (DNA) sequencing. They are highly sensitive and able to detect even low concentrations of pathogens or genetic material. They identify genetic predispositions to diseases, helping breeders make informed decisions. They pinpoint the specific pathogen affecting the animal, allowing for targeted treatment. They help track the spread of diseases, making it easier to contain outbreaks.
How Big Is the Veterinary Molecular Diagnostics Market?
The global veterinary molecular diagnostics market size reached US$ 634.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,064.8 Million by 2028, exhibiting a growth rate (CAGR) of 8.8% during 2023-2028.
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What are the growth prospects and trends in the veterinary molecular diagnostics industry?
At present, the increasing number of infectious diseases among animals represents one of the major factors impelling the market growth. Additionally, the rising number of innovations in molecular diagnostic technologies, such as the advent of real-time PCR and next-generation sequencing, is making the tests more accurate, faster, and cost-effective. Besides this, the growing availability of diagnostic kits and reagents online has made it easier for veterinary professionals and even pet owners to access these tools.
Moreover, the increasing implementation of government regulations regarding animal health and welfare necessitates regular health check-ups and early disease detection, which is catalyzing the demand for veterinary molecular diagnostics. In addition, the rise in pet ownership is driving the demand for advanced healthcare and diagnostic solutions for animals, supporting the market growth. Furthermore, the growing preference for non-invasive or minimally invasive diagnostic techniques, which are often made possible through molecular diagnostic methods, is offering a favorable market outlook.
Apart from this, the increasing integration of data analytics and artificial intelligence (AI) in veterinary diagnostics to enable predictive analysis and better interpretation of results is bolstering the market growth. Additionally, the rising shift toward precision medicine in veterinary care, where treatments and interventions are tailored to the individual characteristics of each animal, requires highly accurate diagnostic tools like molecular diagnostics.
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
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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