Wilmington, Delaware, United States, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - By 2030, the global veterinary molecular diagnostics market is anticipated to touch valuation of US$ 1.1 Bn. The global veterinary molecular diagnostics market is estimated to progress at ~8% CAGR during the forecast period, from 2020 to 2030. The global veterinary molecular diagnostics market is projected to develop due to technological advancements, rise in pet ownership globally, and an increasing incidence of vector-borne illnesses. In addition, the introduction of novel veterinary molecular diagnostic techniques and expanding research and development by market players are anticipated to have a positive impact on the market.
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New molecular approaches are increasingly being used, even if traditional methods are still widely used. The veterinary molecular diagnostics market is predicted to have a promising growth path owing to better immunoassays, acceptance of nucleic acid diagnostics, greater usage of biosensors, and also growing usage of preteomic technologies. These technologies are expected to acquire considerable market share for veterinary molecular diagnostics during the forecast period.
In order to obtain a competitive edge, a number of both public and private laboratories operating in the present market environment are concentrating more and more on boosting the precision of their veterinary molecular diagnostics.
Key Findings of Market Report
- The global veterinary molecular diagnostics market is anticipated to grow significantly during the forecast period due to rising pet obesity incidences and growing consumer awareness about veterinary diagnostics. Approximately 59.5% of cats and 55.8% of dogs in the US were obese in 2018, based on a survey by the Association for Pet Obesity Prevention (APOP). Such high incidences of pet obesity, particularly in developed countries, are anticipated to fuel positive future market outlook for veterinary molecular diagnostics.
- The rising use of innovative and advanced veterinary molecular diagnostic methods by veterinarians throughout the world, such as polymerase chain reaction (PCR) and Western blot, is predicted to raise the need for veterinary molecular diagnostics in the future years. Such innovative diagnostic methods are likely to account for largest revenue share in veterinary molecular diagnostics market.
- In the near future, it is anticipated that notable advancements in DNA sequencing platforms and significant breakthroughs in the field of data analysis will significantly accelerate the growth of the global veterinary molecular diagnostics market.
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Global Veterinary Molecular Diagnostics Market: Growth Drivers
- The incumbent market players are anticipated to have a great deal of opportunities as a result of progress in the data analysis to create more effective therapeutic and veterinary molecular diagnostics instruments. The global market for veterinary molecular diagnostics is anticipated to be influenced by this aspect.
- In the forthcoming years, there is anticipated to be tremendous rise in the treatment, management, and detection of infectious as well as non-infectious illnesses in animals. This factor is expected to increase veterinary molecular diagnostics market size during the forecast period.
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Global Veterinary Molecular Diagnostics Market: Key Players
Some of the key market players are
- Biomedica Medizinprodukte GmbH & Co KG
- Thermo Fisher Scientific, Inc.
- VCA, Inc.
- bioMérieux SA
- IDEXX Laboratories, Inc.
- QIAGEN N.V.
Global Veterinary Molecular Diagnostics Market: Segmentation
Product Type
- Instruments & Software
- Kits & Reagents
- Services
Technology
- Conventional PCR
- Singleplex PCR
- Multiplex PCR
- Real-time PCR
- Others
Disease Type
- Vector-borne Diseases
- Respiratory Pathogens
- Diarrhea Pathogens
- Others
Animal Type
- Companion Animal
- Livestock Animal
End User
- Hospitals/Clinics
- Reference Laboratories
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