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Veterinary Molecular Diagnostics Market Size, Share, Industry Trends and Forecast to 2030

Veterinary Molecular Diagnostics Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.


  • Published date -30th Jan 2024

  • Formats -PDF, CSV

  • Region -Global

Market Size & CAGR of Veterinary Molecular Diagnostics Market in 2021:

The global veterinary molecular diagnostics market is expected to witness a significant growth rate in 2021, with a Compound Annual Growth Rate (CAGR) of 6.8%. This growth is primarily driven by factors such as increasing prevalence of zoonotic diseases, rising demand for early and accurate diagnosis of veterinary diseases, and technological advancements in molecular diagnostics tools. The market size is estimated to reach USD 848.6 million by the end of 2021.

COVID-19 Impact on the Veterinary Molecular Diagnostics Market:

The COVID-19 pandemic has had a mixed impact on the veterinary molecular diagnostics market. On one hand, the restrictions implemented during the pandemic led to temporary disruptions in the supply chain, affecting the market growth. On the other hand, the increased awareness about zoonotic diseases and the importance of animal health during the pandemic has led to a surge in demand for veterinary molecular diagnostics. As a result, the market witnessed a slight decline in the first half of 2020 but recovered swiftly in the second half of the year.

Veterinary Molecular Diagnostics Dynamics:

The veterinary molecular diagnostics market is driven by factors such as the growing prevalence of infectious diseases in animals, the increasing adoption of pets, and the rising awareness about preventive healthcare among pet owners. Additionally, technological advancements in molecular diagnostic tools, such as Polymerase Chain Reaction (PCR) and Next-Generation Sequencing (NGS), have revolutionized the veterinary diagnostics industry by providing faster and more accurate results.

Segments and Related Analysis:

The veterinary molecular diagnostics market can be segmented based on product type, technology, animal type, and end-user. By product type, the market is divided into instruments, reagents, and software. Based on technology, the market is categorized into PCR, NGS, microarrays, and others. Animal type segmentation includes companion animals and livestock. Veterinary clinics, hospitals, and research laboratories are the key end-users of molecular diagnostics products in the veterinary industry.

By Region Analysis:

In terms of regional analysis, North America is expected to dominate the veterinary molecular diagnostics market in 2021, owing to the presence of a well-established veterinary healthcare infrastructure, high pet ownership rates, and increasing investments in research and development activities. Europe and Asia Pacific regions are also anticipated to witness significant growth due to the rising awareness about animal health and the growing demand for advanced diagnostic tools in these regions.

Key Market Players and Competitive Landscape:

Some of the key players in the veterinary molecular diagnostics market include IDEXX Laboratories, Inc., Thermo Fisher Scientific Inc., Zoetis Inc., VCA Inc., and Neogen Corporation. These companies are focusing on strategic collaborations, product innovations, and acquisitions to strengthen their market presence and expand their product offerings. The market is highly competitive, with a significant number of players vying for market share.

Recent Happenings in the Veterinary Molecular Diagnostics Market:

In recent developments, IDEXX Laboratories, a leading player in the veterinary diagnostics industry, launched a new molecular diagnostics platform for the detection of infectious diseases in pets. Thermo Fisher Scientific announced the acquisition of a molecular diagnostics company specializing in veterinary healthcare. These developments indicate the increasing focus on innovation and technological advancements in the veterinary molecular diagnostics market.

Frequently Asked Questions (FAQ):