Veterinary Molecular Diagnostics Market by Animal (Livestock, Companion), by Product (Instruments & Software, Kit & Reagents, Services), by Disease Indications (Infectious diseases, Respiratory diseases, Metabolic diseases), by End User (Hospitals, Clinics, Others), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2024-2032
The Veterinary Molecular Diagnostics Market size was valued at USD 345 USD Million in 2023 and is projected to reach USD 1325.37 USD Million by 2032, exhibiting a CAGR of 21.2 % during the forecast period. Veterinary molecular diagnostics entails the application of molecular tools in the diagnosis of animal diseases. This field the tests like PCR, real-time PCR, and DNA sequencing to detect the presence of pathogens, genetic changes, and disease indicators. Some of the characteristic features of these techniques include, enhanced sensitivity, high specificity, and the chances of early diagnosis. The uses include diagnosing infections, diagnosing inherited conditions, and assessing the response to treatment. These diagnostics offer detailed molecular data that allow veterinarians to make proper decisions related to the animal’s health status, disease occurrence, and the application of necessary therapies and preventive measures. These tools are imperative to enhancing the quality of life of animals and the development of the science of veterinarians.
Veterinary Molecular Diagnostics Market Trends
The market is witnessing a surge in the adoption of molecular diagnostic tests for infectious diseases such as canine parvovirus, feline leukemia virus, and bovine viral diarrhea virus. Companion animals, including dogs and cats, account for a significant portion of the market demand due to increasing pet ownership and the trend of treating pets as family members. Technological advances in molecular diagnostics, such as next-generation sequencing (NGS) and polymerase chain reaction (PCR), are improving the accuracy and speed of diagnostic tests.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 21.2% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 21.2% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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