Veterinary Molecular Diagnostics Market Reaches US$ 284.7 Million by 2030, Growing at 6.4% CAGR, Reveals RationalStat Market Report

Veterinary Molecular Diagnostics Market Reaches US$ 284.7 Million by 2030, Growing at 6.4% CAGR, Reveals RationalStat Market Report

The global veterinary molecular diagnostics market is expected to reach US$ 284.7 million by 2030, with an annual growth rate of more than 6.4%.
According to RationalStat's recent industry analysis, the Global Veterinary Molecular Diagnostics Market value is estimated at US$ 184.4 million in 2023 and is expected to rise at a strong CAGR of over 6.4% over the forecast period of 2023-2030.

Market Definition, Market Scope, and Report Overview

Veterinary molecular diagnostics refers to the use of molecular biology techniques to identify and analyze genetic material (DNA or RNA) in animals for diagnostic purposes. This field involves the application of advanced molecular tools to detect and characterize various infectious diseases, genetic disorders, and other health-related conditions in animals.
The rising trend of pet ownership globally has led to increased spending on veterinary care. Pet owners are increasingly seeking advanced diagnostic services, including molecular diagnostics, to ensure the health and well-being of their pets.

According to a deep-dive market assessment by RationalStat, the global veterinary molecular diagnostics market has been analyzed on the basis of market segments, including products, technology, animal type, end user, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global veterinary molecular diagnostics market covers market sizes on the basis of market value (US$/EUR Million), volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the global veterinary molecular diagnostics market. It also includes the industry's current state - Production levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Veterinary Molecular Diagnostics Market: Segmental and Market Share Analysis

• On the basis of animal type, companion animals segment held the largest market share of 62% in 2022 attributed to factors such as rising adoption of companion animals like dogs and cats.

Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 184.4 million
Market Size Forecast US$ 284.7 million
Growth Rate 6.4%
Dominant Segment Companion Animals
Dominant Region North America

Key Market Drivers
• Growing prevalence of animal diseases
• Increasing prevalence of pet adoption

Companies Profiled
• IDEXX Laboratories Inc
• Zoetis Inc
• Thermo Fisher Scientific Inc
• bioMerieux
• Heska Corporation
• NEOGEN Corporation
• Bio-Rad Laboratories
• Virbac
• FUJIFILM Holdings Corporation
• Shenzhen Mindray Animal Medical Technology Co. Ltd,
• INDICAL BIOSCIENCE GmbH
• BioChek
• IDvet

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Competition Analysis and Market Structure

Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players.

• In June 2022: AusDiagnostics acquired by R-Biopharm AG. R-Biopharm increased its product line with molecular biology multiplex diagnostics, extraction reagents, and laboratory automation equipment for animals and humans as a result of this acquisition.

Some of the prominent players and suppliers operating and contributing significantly to the global veterinary molecular diagnostics market growth include IDEXX Laboratories Inc, Zoetis Inc, Thermo Fisher Scientific Inc, bioMerieux, Heska Corporation, NEOGEN Corporation, Bio-Rad Laboratories, Virbac, FUJIFILM Holdings Corporation, Shenzhen Mindray Animal Medical Technology Co. Ltd, INDICAL BIOSCIENCE GmbH, BioChek, and IDvet, among others.

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RationalStat has segmented the global veterinary molecular diagnostics market based on products, technology, animal type, end user and region
• Global Veterinary Molecular Diagnostics Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Products
o Consumables
o Instruments
• Global Veterinary Molecular Diagnostics Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Technology
o Immunodiagnostics
 Lateral Flow Assays
 Lateral Flow Rapid Tests
 Lateral Flow Strip Readers
 ELISA Tests
 Allergen Specific Immunodiagnostics Tests
 Immunoassay Analyzers
 Other Immunodiagnostics Products
o Clinical Biochemistry
 Clinical Chemistry Analysis
 Glucose Monitoring
 Blood Gas & Electrolyte Analysis
o Molecular Diagnostics
 Polymerase Chain Reaction (PCR) Tests
 Microarrays
 Other Molecular Diagnostic Products
o Hematology
 Hematology Cartridges
 Hematology Analyzers
o Urinalysis
 Urine Analyzers
 Urine Test Strips
 Urinalysis Clips & Cartridges/Panels
o Other Veterinary Diagnostic Technologies
• Global Veterinary Molecular Diagnostics Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Animal Type
o Companion Animals
 Dogs
 Cats
 Horses
 Others
o Livestock
 Cattle
 Pigs
 Poultry
 Others
• Global Veterinary Molecular Diagnostics Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by End User
o Veterinary Reference Laboratories
o Hospitals and Clinics
o Point of Care/ In-house Testing
o Research Institutes and Universities
• Global Veterinary Molecular Diagnostics Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Region
o North America Veterinary Molecular Diagnostics Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 US
 Canada
o Latin America Veterinary Molecular Diagnostics Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Veterinary Molecular Diagnostics Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Veterinary Molecular Diagnostics Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific Veterinary Molecular Diagnostics Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa Veterinary Molecular Diagnostics Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the Veterinary Molecular Diagnostics Report:
• What will be the market value of the global Veterinary Molecular Diagnostics market by 2030?
• What is the market size of the global Veterinary Molecular Diagnostics market?
• What are the market drivers of the global Veterinary Molecular Diagnostics market?
• What are the key trends in the global Veterinary Molecular Diagnostics market?
• Which is the leading region in the global Veterinary Molecular Diagnostics market?
• What are the major companies operating in the global Veterinary Molecular Diagnostics market?
• What are the market shares by key segments in the global Veterinary Molecular Diagnostics market?

Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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RationalStat LLC
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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