Veterinary Molecular Diagnostics Market Size, Trends & Analysis - Forecasts to 2026 By Type of Product (PCR Kits, [RT-PCR Kits and RAPD-PCR Kits], INAAT Kits, Microarray Kits, and DNA Sequencing Kits), By Type of Disease (Anaplasma spp., Ehrlichia spp., New Castle Disease, Influenza, Porcine Reproductive & Respiratory Syndrome [PRRS], and Others), By Type of Species (Livestock Animals [Equine, Porcine, Poultry, Bovine/Cattle, Aquatic, and Ovine] and Companion Animals [Canine, Feline, and Avian]), By Type of End-User (Veterinary Hospitals, Clinical Laboratories, and Veterinary Research Institutes), By Type of Region (NA [North America], Europe, APAC [Asia Pacific], MEA [the Middle East & Africa], and CSA [Central & South America]), End-User Landscape, Vendor Landscape, Company Market Share Analysis & Competitor Analysis
Veterinary Molecular Diagnostics Market Insights
Molecular diagnostics is the method of detection, tracking, and identification, genotyping of viruses, bacteria, and parasites. It is a series of techniques performed to biologically analyze the markers in genome and proteome. The study used to conduct molecular diagnostics amongst animals are molecular biology. The applications are found in the pathological examination. Veterinary molecular diagnostics completely focus on animal and their molecular system. With the drastic impact of COVID-19, many industries had to stop the operations simultaneously and many individuals got infected by the novel coronavirus and lost their lives traumatizing mankind terribly. With the increasing number of cases, it was important to focus more on the healthcare segment than any other to curb the crisis. This progress resulted in the upliftment of the veterinary molecular diagnostic market and is predicted to prevail at a great elevation in the upcoming years.
According to the inferences done by GME, the veterinary molecular diagnostics market is estimated to record a growth of 8.8% between the period (2020-2026).
An increase in pet care costs is the main hindrance towards the development of the market whereas, an increase in the animal population, demand for animal diagnostics products, and rising demand for animal-derived food products are analyzed to be prominent thrusters influencing the market.
Veterinary Molecular Diagnostics Market: By Type of Product
PCR kits, INAAT kits, microarray kits, and DNA sequencing kits are the various types of products witnessed in the global market where RT-PCR kits and RAPD-PCR kits are the classifications of PCR kits. The segment to have extensive market share is PCR kits. Widespread awareness of animal health is one of the major drivers influencing the market.
Veterinary Molecular Diagnostics Market: By Type of Disease
Based on the diseases, the market bifurcation can be seen as Anaplasma spp., porcine reproductive & respiratory syndrome (PRRS), Ehrlichia spp., and others. Influenza is seen in the fastest-growing segment in the forecast period. An increase in expenditure towards research & development is one of the primary propellors of the global market.
Veterinary Molecular Diagnostics Market: By Type of Species
The market segmentation based on species is livestock animals and companion animals. Equine, porcine, poultry, bovine/cattle, aquatic, and ovine are the livestock animals and canine, feline, and avian are the companion animal species respectively. The companion animals are estimated to have a huge market within 2020-2026. Demand for companion animal ownership is the prime accelerator towards the development in the global market.
Veterinary Molecular Diagnostics Market: By End-User
Based on end-users, clinical laboratories, veterinary hospitals, and veterinary research institutes are the categorization of the market. Veterinary hospitals are projected to account for a huge market chunk during the forecast period. An increase in hospital expenditure across various companies is one of the notable propellors of this market.
Veterinary Molecular Diagnostics Market: By Region
Based on the geographical analysis, the Asia Pacific region will emerge as a potential player during the forecast period. An increase in the number of veterinary practitioners, the prevalence of zoonotic diseases, and growing pet health expenditure can be determined as the factors affecting the growth of the global veterinary molecular diagnostics market.
Market Share and Competitor Analysis
bioMérieux SA, IDEXX Laboratories Inc., INDICAL BIOSCIENCE GmbH, Thermo Fisher Scientific Inc., Neogen Corporation, Qiagen N.V., ID.Vet and other industries are suppliers in the market.
Please note: This is not an exhaustive list of companies profiled in the report.
In April 2018, Randox Laboratories initiated the production of Vivalytic.
In January 2018, IDEXX Laboratories Inc. started the clinical trials for the SDMA test.
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The Global Veterinary Molecular Diagnostics Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Veterinary Molecular Diagnostics Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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