Market Analysis and Insights: Global Veterinary Molecular Diagnostics Market
Veterinary molecular diagnostics market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 1,033.67 million by 2028 and will grow at a CAGR of 8.98% in the above mentioned forecast period.
The molecular diagnostic is a laboratory method for examining the DNA or RNA other proteins in humans and animals that is used to recognize diseases or the predilection stage. Veterinary molecular diagnostics give a number of benefits than the other traditional diagnostic procedure such as fast shifting time within 2.5–3 hours, better distinction, high test specificity and sensitivity, amongst the avirulant and birulent strains.
The high growth in the number of veterinary practitioners and rise in income levels in developed economies is amongst the important factors intensifying the growth and demand of veterinary molecular diagnostics market. In addition, the increasing demand for pet insurance and growing animal health expenditure is also contributing to the growth in the global market over the forecast period of 2021 to 2028. Also the increasing demand for animal-derived food products and rising incidence of animal zoonotic diseases are also enhancing the growth of the market. Likewise, the high growth in companion animal population is also lifting the market growth in the above mentioned forecast period. Also, the rising per capita animal healthcare expenditure is also one of the significant factors fueling the growth of the veterinary molecular diagnostics market.
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Global Veterinary Molecular Diagnostics Market Scope and Market Size
Global Veterinary molecular diagnostics market is segmented on the basis of product type, technology, disease type, animal type, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on product type, the veterinary molecular diagnostics market is segmented into instruments and software, kits and reagents and services.
- On the basis of technology, the veterinary molecular diagnostics market is segmented into conventional PCR, singleplex PCR, multiplex PCR, real-time PCR and others.
- On the basis of disease type, the veterinary molecular diagnostics market is segmented into vector-borne diseases, respiratory pathogens, diarrhea pathogens and others.
- Based on animal type, the veterinary molecular diagnostics market is segmented into companion animals and livestock animals. Companion animals have further been segmented into canine, feline and others.
- On the basis of application, the veterinary molecular diagnostics market is segmented into infectious diseases, oncology, genetics and microbiology.
- The end user segment of veterinary molecular diagnostics market is segmented into veterinary hospitals, clinical laboratories and research institutes.
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Veterinary Molecular Diagnostics Market Country Level Analysis
Veterinary molecular diagnostics market is analyzed and market size insights and trends are provided by country, product type, technology, disease type, animal type, application and end user as referenced above.
The countries covered in the veterinary molecular diagnostics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa(MEA), Brazil, Argentina and Rest of South America as part of South America.
North America region leads the veterinary molecular diagnostics market owing to the increasing pet adoption in the U.S., strong presence of major players and growing awareness regarding animal wellness within the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the rapidly rising animal population and high adoption of veterinary diagnostic products within this particular region.
The country section of the veterinary molecular diagnostics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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Competitive Landscape and Veterinary Molecular Diagnostics Market Share Analysis
Veterinary molecular diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to veterinary molecular diagnostics market.
The major players covered in the veterinary molecular diagnostics market report are IDEXX Laboratories, Inc., NeoGenomics Laboratories, Inc., Abaxis, Heska Corporation, Zoetis, Thermo Fisher Scientific, Inc., Virbac, CAREVET, Agfa-Gevaert Group., Veterinary Molecular Diagnostics, Inc., Novacyt Group, Qiagen, AT Veterinary Systems Ltd., Animage LLC, Veterinary Laboratory - HealthGene Corp., Ingenetix, INDICAL BIOSCIENCE GmbH, bioMérieux SA., Core Imaging LLC, and Quality Vet Lab among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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