New York, NY, July 11, 2018 (GLOBE NEWSWIRE) -- 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. 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.
Browse through 28 Tables & 36 Figures spread over 110 Pages and in-depth TOC on "Global Veterinary Molecular Diagnostics Market Size, Share, Trends and Forecast, 2017 - 2024”.
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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.
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.
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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.
As of 2017, North America holds the top position in global veterinary molecular diagnostics market and is expected to see rapid growth in the years to come. The U.S. leads veterinary molecular diagnostics market due to a high number of animal diagnosis tests by pet owners, well aware population, and a large number of facilities for research and development. Moreover, the presence of leading veterinary molecular diagnostics players in the region such as IDEXX Laboratories, Thermo Fisher Scientific, etc. has led the regional growth.
Browse the full "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" report at https://www.zionmarketresearch.com/report/vet...ics-market
Europe is the second biggest regional market and will continue to show significant growth in the upcoming years, due to increased pet adoption, growing consciousness of pet nutrition and health, and the existence of innovative veterinary molecular diagnostic technology for testing of a wide range of animal pathogen using quantitative, real-time, and conventional PCR.
The Asia Pacific is expected to grow with the highest CAGR during the forecast period. The Asia Pacific presents lucrative growth opportunities for veterinary molecular diagnostic developers. The growth in this region is mainly attributed to raising awareness of the importance of healthier livestock and increase spending on animal vaccines, drugs, medicated feed additives by urban middle-class people for livestock health. Moreover, increase healthcare expenditure by governments and change in dynamics of the in vitro diagnostic industry is expected to fuel the growth of veterinary molecular diagnostics market.
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The report profiles major key players in the global veterinary molecular diagnostics market based on various attributes like company overview, financial overview, SWOT analysis, business strategy, and recent developments.
Some of the key players in the veterinary molecular diagnostics are IDEXX Laboratories, Inc., ABAXIS, Inc., VCA, Inc., Neogen Corporation, Thermo Fisher Scientific, Inc., Zoetis, Inc., GE Healthcare, Heska Corporation, ID.Vet, Virbac, Veterinary Molecular Diagnostics, Inc., and AGFA Healthcare.
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This report segments the veterinary molecular diagnostics market as follows:
Global Veterinary Molecular Diagnostics Market: Product Analysis
- Instruments & Software
- Kits & reagents
- Services
Global Veterinary Molecular Diagnostics Market: Technology Analysis
- Polymerase Chain Reaction (PCR)
- Microarrays
- DNA Sequencing
Global Veterinary Molecular Diagnostics Market: Animal Type Analysis
- Companion Animals
- Livestock Animals
Global Veterinary Molecular Diagnostics Market: Disease Indication Analysis
- Vector-borne Diseases
- Respiratory Pathogens Detection
- Diarrhea Pathogens Detection
- Others
Global Veterinary Molecular Diagnostics Market: End User Analysis
- Veterinary Hospitals
- Clinical Laboratories
- Research Institutes
Global Veterinary Molecular Diagnostics Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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