Global Veterinary Molecular Diagnostics Market Projected to Reach US$ 4.94 Billion by 2029, with a CAGR of 9.34%

Market Overview:

A comprehensive report on the Global Veterinary Molecular Diagnostics Market suggests that the market is poised to reach a valuation of US$ 4.94 billion by 2029, exhibiting a robust CAGR of 9.34% during the forecast period. Veterinary molecular diagnostics involve employing molecular techniques to assess a wide spectrum of animal pathogens, offering advantages such as shorter testing time, clearer strain differentiation, and excellent specificity and sensitivity compared to traditional methods.

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Report Scope and Methodology:

The report profiles twenty-four key players in the market and considers market leaders, followers, and new entrants with investors. It provides insights into regional impacts on cost and technology availability, offering recommendations for future hotspots in the APAC region. The research methodology involves a comprehensive analysis of market segments and a clear representation of competitive analysis among key players, including product, price, financial position, product portfolio, growth strategies, and regional presence.

Market Dynamics:

The major driving factor for the market's growth is the rising prevalence of zoonotic diseases globally. Zoonotic infections, capable of transmission between animals and humans, are on the rise, prompting increased efforts to identify and control these diseases in animals. The report indicates that the market is witnessing substantial growth due to a surge in demand for animal-derived food, an increased need for pet insurance, and rising expenditure on animal healthcare. However, challenges such as the high cost of veterinary molecular diagnosis, government regulations for new product approvals, and a lack of epidemiological information for certain diseases are impeding the market's full potential.

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Segment Analysis:

The Global Veterinary Molecular Diagnostics Market is segmented based on Product, Application, and Technology. The kits and reagents segment is expected to dominate the market, with diagnostic kits and reagents rapidly developing due to their broad applications and high effectiveness. Products based on immune-assays are also projected to gain approval for marketing.

by Product

•Instruments
• Kit and Reagents
• Software and Services

by Technology

• PCR
• Microarray
• DNA Sequencing

by Application

• Infectious Diseases
• Genetics
• Other Applications

Regional Insights:

North America is anticipated to dominate the global market during the forecast period, driven by increased pet adoption and the presence of major companies. The region's focus on animal welfare activities further contributes to market growth. Europe follows as the second-most lucrative region, benefiting from government support, high-quality diagnostic procedures, and a growing number of veterinary diagnostic centers.

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Veterinary Molecular Diagnostics Market Key Players are:

• IDEXX Laboratories, Inc.
• Thermo Fisher Scientific, Inc.
• Zoetis, Inc.
• Neogen Corporation
• bioMérieux SA
• QIAGEN N.V.
• Biomedica Medizinprodukte GmbH & Co KG
• Bioneer
• ID.VET
• VCA Inc.
• HealthGene Corporation
• Abaxis Inc.
• NeoGenomics Laboratories, Inc.
• Heska Corporation
• Virbac
• CAREVET
• Agfa-Gevaert Group.
• Veterinary Molecular Diagnostics, Inc.
• Novacyt Group
• AT Veterinary Systems Ltd.
• Animage LLC
• Ingenetix
• INDICAL BIOSCIENCE GmbH
• Core Imaging LLC

Table of content for the Global Veterinary Molecular Diagnostics Market includes:

Part 01: Executive Summary

Part 02: Scope of the Global Veterinary Molecular Diagnostics Market Report

Part 03: Global Veterinary Molecular Diagnostics Market Landscape

Part 04: Global Veterinary Molecular Diagnostics Market Sizing

Part 05: Global Veterinary Molecular Diagnostics Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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