Veterinary Molecular Diagnostics Market Analysis Report 2018 by Size, Share, Growth and Assessment to 2026
Zion Market Research has published a new report titled “Veterinary Molecular Diagnostics Market by Technology (Microarrays, Polymerase Chain Reaction (PCR), and DNA Sequencing), by Animal Type (Livestock Animals and Companion Animals), by Disease Indication (Diarrhea Pathogens Detection, Vector-borne Diseases, Respiratory Pathogens Detection, and Others), by Product (Kits & Reagents, Instruments & Software, and Services), and End User (Research Institutes, Clinical Laboratories, and Veterinary Hospitals): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global veterinary molecular diagnostics market accounted for USD 412.3 million in 2017 and is expected to reach USD 736.2 million by 2024, growing at a CAGR of around 8.7% between 2018 and 2024.
Molecular techniques are widely used in veterinary and livestock research for vaccine development, research on host-pathogen interactions, micro-biome, and resistome (the micro-biome focusing on all antimicrobial resistance genes) analysis, and the development of diagnostic assays and genome analysis to optimize breeding. In the veterinary diagnostic settings, molecular diagnostics focuses on detection, identification, and genotyping of a pathogen.
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The emergence of advanced veterinary molecular diagnostic tools over traditional diagnostic tools due to their ability to detect quickly which is vital for successful & early control strategies, high test sensitivity, and specificity has propelled the growth of veterinary molecular diagnostics market. In addition, growing focus on adopted pet’s and livestock’s health and nutrition and worldwide rise of veterinary diseases is expected to fuel the growth of veterinary molecular diagnostics market.
Nowadays veterinarians around the world are revealing new diseases and facts of existing diseases, which can act as an opportunity for molecular diagnostic tools and reagents developers as it will need innovative and technologically advanced devices and reagents to diagnose them.
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Veterinary molecular diagnostics market is segmented on the basis of product which is further divided into three types: instruments & software, kits & reagents, and services. The kits and reagent segment has dominated the product segment due to the availability of modified and innovative tools for a specific purpose and high usage of reagents in disease detection.
Based on technology veterinary molecular diagnostics market has been segmented into microarrays, polymerase chain reaction (PCR), and DNA sequencing. On the basis of the animal type, the market for veterinary molecular diagnostics is segmented into livestock animals and companion animals. Based on disease indication the veterinary molecular diagnostics market has been segmented into diarrhea pathogens detection, vector-borne diseases, respiratory pathogens detection, and others. Segmentation based on a product for veterinary molecular diagnostics includes kits & reagents, instruments & software, and services. The end-user segment for veterinary molecular diagnostics is divided into research institutes, clinical laboratories, and veterinary hospitals.
The veterinary molecular diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, based on geography. North America is the dominant region in the global veterinary molecular diagnostics market in 2017. This is due to a high diagnosis rate and a large number of facilities for research and development and the presence of key players in the region. Europe is the second most dominant region due to the high rate of pet adoption and use of superior diagnostics and treatment. Asia Pacific is expected to grow with the highest CAGR due to the growing livestock health awareness and high adoption of nutritive feed additives, drugs, vaccines for the well being of livestock animals.