IMARC Group’s report titled “Veterinary Molecular Diagnostics Market Report by Product (Kits and Reagents, Instruments, Software and Services), Technology (Real Time PCR, Microarray, DNA Sequencing), Animal Type (Companion Animal, Livestock Animal), Disease Type (Vector-borne Diseases, Respiratory Pathogens, Diarrhea Pathogens, and Others), End User (Veterinary Hospitals, Clinical Laboratories, Research Institutes), and Region 2024-2032“, Offers a comprehensive analysis of the industry, which comprises insights on the global veterinary molecular diagnostics market share.

How Big Is the Veterinary Molecular Diagnostics Market?

The global veterinary molecular diagnostics market size reached US$ 690.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,391.9 Million by 2032, exhibiting a growth rate (CAGR) of 7.9% during 2024-2032.

Factors Affecting the Growth of Veterinary Molecular Diagnostics Industry:

  • Rise in Pet Ownership and Spending in the Pet Industry:

The growth of the veterinary molecular diagnostics market is significantly influenced by the increasing trend of pet ownership and the rise in spending within the pet industry. As more households across the globe embrace companion animals, the demand for advanced diagnostic tools to ensure the health and well-being of pets escalates. The rise in pet ownership, as evidenced by statistics showing a substantial percentage of households owning pets, drives the need for personalized and targeted healthcare approaches in veterinary diagnostics. This trend is further supported by the substantial investments made by governments and individuals in the pet industry, covering areas such as veterinary care, medications, and other pet-related services. The growing awareness about zoonotic diseases and the need for rapid and precise diagnostic methods to prevent the spread of such diseases underscore the importance of veterinary molecular diagnostics in safeguarding animal and human health.

  • Significant Advancements in Diagnostic Technologies and Adoption of New Tools:

The veterinary molecular diagnostics market is propelled by continuous advancements in diagnostic technologies and the increasing adoption of new tools within the veterinary healthcare sector. The evolution of molecular diagnostic methods, including polymerase chain reaction (PCR), next-generation sequencing (NGS), and microarray technologies, has revolutionized the precision, sensitivity, and speed of diagnostic tests in veterinary medicine. These cutting-edge technologies enable veterinarians to detect pathogens and genetic mutations with exceptional accuracy, facilitating early disease identification and monitoring. The adoption of molecular diagnostics offers valuable insights into genetic predispositions to diseases, empowering veterinarians to tailor treatment plans and preventive strategies for improved animal health outcomes. The enhanced sensitivity and specificity of these diagnostic tools contribute to the growth of the market by meeting the evolving needs of veterinary professionals and pet owners alike.

  • Increased Expenditure on Animal Health and Rising Disease Incidence:

A significant driver of the Veterinary Molecular Diagnostics market is the escalating expenditure on animal health and the growing incidence of diseases in animals. The rising awareness about the importance of animal health and the increasing medicalization rate drive investments in advanced diagnostic solutions to enhance disease management and early detection in animals. The growth of the market is further fueled by the advancements in diagnostics that enable veterinarians to identify genetic markers, DNA, RNA, and proteins associated with various health conditions in animals. The prevalence of zoonotic and vector-borne diseases, coupled with changing environmental factors, such as habitat modifications and climate change, underscores the critical need for precise and rapid diagnostic methods in veterinary medicine. The continuous innovation in veterinary molecular diagnostics addresses these challenges by providing accurate and timely insights into animal health conditions, driving market expansion and improving overall healthcare outcomes for animals.

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Leading Companies Operating in the Global Veterinary Molecular Diagnostics Industry:

  • 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.

Veterinary Molecular Diagnostics Market Report Segmentation:   

By Product:

  • Kits and Reagents
  • Instruments
  • Software and Services

Kits and reagents dominate the market due to the increasing demand for ready-to-use diagnostic kits and reagents that offer convenience, ease of use, and accessibility in various healthcare settings.

By Technology:

  • Real Time PCR
  • Microarray
  • DNA Sequencing

Real time PCR holds maximum number of shares due to its precision, increased sensitivity, dynamic range, and high resolution, which contribute to its prominent share and growth potential

By Animal Type:

  • Companion Animal
  • Livestock Animal

Companion animal represents the largest segment due to the increasing trend of pet ownership.

By Disease Type:

  • Vector-borne Diseases
  • Respiratory Pathogens
  • Diarrhea Pathogens
  • Others

Vector-borne diseases dominate the market due to the increasing prevalence of these diseases in animals globally, driving the demand for precise and rapid diagnostic methods to ensure timely and accurate disease detection.

By End User:

  • Veterinary Hospitals
  • Clinical Laboratories
  • Research Institutes

Based on the end user, the market has been divided into veterinary hospitals, clinical laboratories, and research institutes.

Regional Insights:

  • 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

North America’s dominance in the veterinary molecular diagnostics market is attributed to established veterinary healthcare infrastructure, advanced technology adoption, the presence of key companies, and high disposable income

Global Veterinary Molecular Diagnostics Market Trends:

Regulatory support and compliance standards play a crucial role in driving the growth of the Veterinary Molecular Diagnostics market. The adherence to stringent regulatory guidelines and standards set by regulatory bodies ensures the quality, safety, and efficacy of molecular diagnostic products used in veterinary healthcare. Regulatory approvals and certifications instill confidence in veterinarians, pet owners, and industry stakeholders regarding the reliability and accuracy of diagnostic tests.

The implementation of standardized protocols for molecular diagnostics in veterinary medicine enhances the credibility of diagnostic results, promotes interoperability among diagnostic systems, and fosters innovation in the development of new diagnostic solutions. Regulatory frameworks that govern the manufacturing, distribution, and use of veterinary molecular diagnostic products contribute to market growth by ensuring product quality, patient safety, and industry compliance.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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