The global veterinary molecular diagnostics market is projected to witness significant growth, with its valuation expected to rise from USD 194.47 million in 2023 to over USD 377.22 million by 2033, reflecting a robust CAGR of 6.84% during the forecast period. This expansion underscores the growing importance of advanced diagnostic solutions in improving animal health outcomes.
The demand for veterinary molecular diagnostics is driven by increasing awareness about zoonotic diseases, rising incidences of infectious diseases in animals, and the growing emphasis on livestock productivity and pet care. These diagnostic tools enable early and precise detection of diseases, facilitating timely intervention and reducing the risk of outbreaks.
Technological advancements in molecular diagnostics, such as polymerase chain reaction (PCR) and next-generation sequencing (NGS), are further bolstering the market. These innovations are enhancing the accuracy, speed, and reliability of diagnostic processes, making them indispensable in both clinical and research settings.
A Full Report Overview – https://www.futuremarketinsights.com/reports/veterinary-molecular-diagnostics-market
Key Takeaways:
- Market Expansion: The veterinary molecular diagnostics market is expected to grow from USD 194.47 million in 2023 to USD 377.22 million by 2033, at a CAGR of 6.84%.
- Zoonotic Disease Awareness: Rising focus on controlling zoonotic and infectious diseases is a key driver for market growth.
- Technological Advancements: Innovations such as PCR and NGS are improving the accuracy and efficiency of diagnostics.
- Global Impact: Increased investments in veterinary care and the growing adoption of pets worldwide are fueling demand for advanced diagnostic solutions.
The veterinary molecular diagnostics market’s upward trajectory highlights its critical role in advancing animal healthcare and safeguarding global public health.
Key Growth Drivers
- Rising Pet Adoption: Increasing pet ownership globally has led to higher healthcare demands for companion animals, driving the need for advanced diagnostic tools.
- Increased Animal Health Expenditure: As pet owners treat their animals as family members, there is a corresponding rise in spending on veterinary care, including molecular diagnostics.
- Growing Livestock Population: The demand for animal-derived products is contributing to an increase in the livestock population, which in turn drives the need for effective diagnostic tests to ensure animal health.
- Technological Advancements: Innovations in molecular diagnostic technologies are enhancing the accuracy and efficiency of disease detection in animals, making these tools more appealing to veterinary practices.
- Awareness of Animal Wellness: There is a growing emphasis on animal welfare and health, prompting veterinarians and pet owners to adopt advanced diagnostic modalities.
Key Companies Profiled
- bioMérieux SA
- IDEXX Laboratories, Inc.
- Neogen Europe, Ltd.
- Veterinary Molecular Diagnostics, Inc.
- Thermo Fisher Scientific, Inc.
- ID-Vet, Qiagen N.V.
Key Segments Covered in the Veterinary Molecular Diagnostics Industry Analysis
By Product Type:
- PCR Kits
- RT-PCR Kits
- RAPD-PCR Kits
- INAAT Kits
- Microarray Kits
- DNA Sequencing Kits
By Species Type:
- Livestock Animals
- Equine
- Porcine
- Poultry
- Cattle
- Aquatic
- Ovine
- Companion Animals
- Canine
- Feline
- Avian
By Disease Type:
- Anaplasma spp.
- Ehrlichia spp.
- New Castle Disease
- Influenza
- Porcine Reproductive & Respiratory Syndrome (PRRS)
- Others
By End User:
- Veterinary Hospitals
- Clinical Laboratories
- Veterinary Research Institutes
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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