Veterinary Molecular Diagnostics Market is Expected to Witness Rapid Growth by 2026 | Neogen Corporation, ID.Vet, INDICAL BIOSCIENCE GmbH, and Veterinary Molecular Diagnostics, Inc.
This Future Market Insights (FMI) report examines the ‘Veterinary Molecular Diagnostics Market: Global Industry Analysis (2013-2017) and Forecast (2018-2026)’. The primary objective of the report is to offer updates and information related to market opportunities in the global veterinary molecular diagnostics market.
This Future Market Insights (FMI) report examines the veterinary molecular diagnostics market for the period 2013–2026. The primary objective of the report is to offer insights into developments in the veterinary molecular diagnostics market that are significantly transforming global businesses and enterprises.
The increasing demand for advanced veterinary molecular diagnostic kits, such as RT-PCR kits, DNA sequencing kits and microarray based diagnostic kits owing to the growing number of diagnostic procedures in livestock and companion animals is fuelling the revenue generation in global veterinary molecular diagnostics market.
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Increasing set up of new production facilities by the key manufacturers in growing economies coupled with increasing adoption of molecular diagnostic techniques in animals is anticipated to boost the production for molecular diagnostic kits and drives the growth for veterinary molecular diagnostics market over a forecast period.
The increasing prevalence of chronic disorders in animals such as influenza, new castle disease and diabetes coupled with high prevalence of infectious diseases is further anticipated to fuel the demand for veterinary molecular diagnostics market. Increasing preference for molecular diagnosis on the account of their high specificity and efficacy in diagnosing chronic diseases in animals and presence of strong distribution channel is further anticipated to drive the growth of veterinary molecular diagnostics market over forecast period. Rising adoption of pets, increasing financial grants for innovation in veterinary diagnostics, fast FDA approvals for reagents used in animal molecular diagnostics, and increased consumer spending on veterinary care is also expected to drive the market revenue growth over the forecast period.
However, gaps in epidemiological knowledge of certain virulent veterinary diseases, high costs associated with veterinary molecular diagnosis and stringent regulatory approval process for novel molecular diagnostic kits resulting into product delays, may hamper the demand for veterinary molecular diagnostic kits and restrain the growth of veterinary molecular diagnostics market over forecast period. Also, the improper veterinary care research infrastructure in the emerging economies, limited reimbursement policies and Visa restrictions strangling vet practices coupled with shortage of veterinary doctors and colleges are some other factors anticipated to hinder the growth of the global veterinary molecular diagnostics market.
The Veterinary Molecular Diagnostics Market segmented as follows:
- Veterinary Molecular Diagnostics Market, by Product type
- Veterinary Molecular Diagnostics Market, by Disease Type
- Veterinary Molecular Diagnostics Market, by Species Type
- Veterinary Molecular Diagnostics Market, by End User
- Veterinary Molecular Diagnostics Market, by Region
This report covers the global veterinary molecular diagnostics market performance in terms of revenue contribution from various segments. This section also includes FMI analysis of key trends, drivers, restraints, and opportunities, which are influencing the growth of the global veterinary molecular diagnostics market.
The veterinary molecular diagnostics market report begins with an overview of the veterinary molecular diagnostics market. This section also underlines factors influencing growth of the veterinary molecular diagnostics market along with detailing of the key trends, drivers, restraints, opportunity and regulations. Impact analysis of key regional growth drivers and restraints based on the weighted average model along with key region-specific trends is included in report to better equip clients with information and hidden insights. At the end of the report, FMI has provided key strategic recommendation for both existing and new players in the market to emerge sustainably profitable.
The global veterinary molecular diagnostics market is segmented on the basis of product type into PCR kits, INAAT kits, microarray kits, DNA sequencing kits. On the basis of disease type, the market has been segmented into Anaplasma spp., Ehrlichia spp., New Castle Disease, Influenza, Porcine Reproductive & Respiratory Syndrome (PRRS) and others. Based on species type, the market has been segmented into livestock animals including Aquatic, Bovine, Porcine, Ovine, Poultry and Equine; companion animals including canine, feline and avian. Based on end user, the market has been segmented into veterinary hospitals, clinical laboratories and veterinary research institutes. A detailed analysis has been provided for every segment in terms of market size, Y-o-Y growth rate, absolute $ opportunity, and market attractive index. In terms of product type, PCR kits segment is expected to emerge as the largest revenue segment in the global market.
The next section of the report highlights the growth trends of the veterinary molecular diagnostics market by regions. It provides a market outlook for 2013–2026 and sets the forecast within the context of the veterinary molecular diagnostics market. The study discusses key regional trends contributing to growth of the veterinary molecular diagnostics market worldwide, as well as analyses the extent to which drivers are influencing this market in each region. Key regions assessed in this report include North America, Latin America, Europe, Asia Pacific Excluding China, China and MEA. North America region is expected to emerge as dominant and most attractive market over the forecast period.
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The above sections – product type, disease type, species type, end user and region – evaluate the present scenario and growth prospects of the veterinary molecular diagnostics market for the period 2013–2026. We have considered 2017 as the base year and provided data for the forecast period.
Detailed company profiles include company-specific long-term and short-term strategies, key offerings and recent developments in the veterinary molecular diagnostics market. Key competitors covered in the veterinary molecular diagnostics include bioMérieux SA, IDEXX Laboratories, Inc., Thermo Fisher Scientific Inc., Qiagen N.V., Neogen Corporation, ID.Vet, INDICAL BIOSCIENCE GmbH, and Veterinary Molecular Diagnostics, Inc.
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