The global veterinarymolecular diagnostics market is estimated to expand from a value of US$168.7 Mn in 2021, to a value of US$ 277.2 Mn US$ 277.2 Mn by 2028 end. The
growing fondness of people towards their pets have created a whole new medical
diagnostics market for pets. A new research has been conducted to analyze the
global veterinary molecular diagnosticsmarket, which has witnessed an impressive growth with the growing numberof people owning pets and also growing cases of chronic diseases witnessed
among animals.
Research and development activities are likely to play a keyrole in driving the global veterinary molecular diagnostics market in the
upcoming decade. Some of the recent novel and ground breaking discoveries in
diverse diagnostics and therapeutic tools pertaining to animal health are
expected to open up new avenues for the players involved in the current
veterinary molecular diagnostics market
Popularly the market is known to include diagnostic kitssuch as PCR kits, INAAT kits, Microarray kits, and more. These are now used for
mass veterinary applications. It helps in an accurate analysis of the health
issues that may occur in different animals and based on DNA testing. The
diagnostics industry is actively manufacturing various diagnostic kits and
reagents to control and prevent animal diseases.
The manufacturers are also motivated by the recent moves ofgovernment and FDA. The government has approved many financial grants in the
sector to continue the research and development to be carried in veterinary
diagnostic industry. The initiative will offer funding to the animal health
professionals pursuing innovative ideas for advancements in the veterinary
diagnostic medicine. The potential of molecular diagnosis segment has also
pushed FDA to approve reagents used in the diagnostics in order to continue the
developments.
The market is expected to continue witnessing surge in theforeseen years and reach a market value of over US$ 240 Mn by the end of 2026,
growing at a stellar CAGR of 7.6% during the forecast period, as projected by
Future Market Insights.
Efficiency and Reliability of Molecular Diagnostic Kitsto Stabilize Market Growth
Veterinary diagnostics tests are executed via distinctmethods that use blood, tissue samples and feces, from animals. The global
veterinary diagnostics market has registered a paradigm shift over the past
decade on the account of emergence of number of novel and technologically
advanced products, which had a positive impact on the overall growth of the
market. The products for veterinary molecular diagnostics such as PCR kits, DNA
sequencing kits, microarray and INAAT diagnostic kits have evolved back in 1990,
but they became significant and the market for veterinary molecular diagnostic
kits and reagents boomed over past ten years. These products have provided a
more efficient way of medically testing an animal and also diagnosing the issue
being faced. It is also considered to give the most accurate results. It is a
result of a simple automated workflow that these kits work upon, which also
minimizes the chances of sample handling and risks of cross contamination.
Segmental Analysis of Global Veterinary MolecularDiagnosis Market
The rise in adoption of molecular diagnosis has promoted themarket’s growth especially by veterinary hospitals. The segment covers highest
share in the global market with a robust growth rate of over 7.8% CAGR during
the forecast period. As the pet insurance companies provide affordable plans to
the pet owners, people are witnessed to be more inclined towards better and
complete health checkup provided by the veterinary hospitals. The segment is
expected to stay upbeat even in the coming years, as the market progresses.
In terms of regions, North America accounts for the highestmarket share in the global market. However, Asia Pacific is also expected to
project lucrative opportunities for the businesses in the years coming ahead.
APAC’s veterinary molecular diagnosis market is expected to grow at a
significant rate and provide better growth prospects for the companies.
Information Source: