Global Veterinary Molecular Diagnostics Market Size study & Forecast, by Products (Instruments, Kit and Reagents, and Software and Services), Application (Infectious Diseases, Genetics, and Other Applications), Technology (PCR, Microarray, and DNA Sequenc

Global Veterinary Molecular Diagnostics Market Size study & Forecast, by Products (Instruments, Kit and Reagents, and Software and Services), Application (Infectious Diseases, Genetics, and Other Applications), Technology (PCR, Microarray, and DNA Sequencing) and Regional Analysis, 2022-2029

Global Veterinary Molecular Diagnostics Market is valued approximately at USD XXX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2022-2029. Veterinary Molecular Diagnostics is the process of identifying the disease in the pet animals by studying the molecules, DNA and RNA. The Veterinary Molecular Diagnostics market is expanding because of factors such as increasing pet animal population and increased animal health expenditure. The market is anticipated to grow in the near future, owing to advancement in veterinary molecular diagnostics and rising demand for Animal-derived Protein based products.

According to European Pet Food Federation (FEDIAF), in the year 2018, the European population adopting pets was approximately 80 million. Further, Cats, with a constant number of 74.4 million in the EU and 102.7 million in Europe and Russia, are the most popular pets in European families. In 2017, 66.4 million canines were recognized in the EU (84.9 million in Europe and Russia), up from 63.7 million in 2016 (82.2 million). Further, since pet owners are spending more money on a range of pet food items, the market has been growing in line with the rise in pet population. when compared to USD 48.35 billion in 2010. Additionally, it is projected that the pet industry will spend USD 75.38 billion in 2019.. Also, the pet food accounted for around USD 29.07 billion in 2017(44.6 percent of total spending). This in turn, in 2018, rose by 4.3%, bringing total pet food spending to USD 30.32 billion. However, lack of skilled personnel and the high cost of diagnostic tests may restrict the market growth.

The key regions considered for the Global Veterinary Molecular Diagnostics Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the space in terms of revenue, owing to rising pet ownership and expenditure. According to the American Pet Products Association's (APPA) 2021–2022 National Pet Owners Assessment, 45.3 million cats and 69 million dogs were there in 90.5 million American households, or roughly 70% of all households. Further, dogs in the country costed approximately USD 242 year for a normal visit, comparable to cats. Since cats costed approximately USD 178. Asia Pacific is expected to grow significantly during the forecast period, owing to rising advancements in the diagnostics.

Major market player included in this report are:
Novacyt Group
Biochek BV
Biomerieux SA
Bioneer Corporation
Idexx Laboratories Inc
Ingenetix GmbH
Neogen Corporation
Thermo Fischer Scientific Inc
Veterinary Molecular Diagnostics Inc
Biomedica Group

Recent Developments in the Market:
 Zoetis Inc. bought Basepaws in June 2022. Basepaws is a privately owned pet care genetics company. This acquisition was made primarily to expand Zoetis' offering in the area of precision animal care. With this acquisition, the company will shape and influence its future pipeline of innovations in pet care.
 R-Biopharm AG acquired AusDiagnostics in June 2022. R-Biopharm introduced molecular biology multiplex diagnostics, extraction chemicals, and laboratory automation technology for both animals and humans. Which is done to enhance its product line and the product portfolio in the company.

Global Veterinary Molecular Diagnostics Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Products, Application, Technology and Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Product:
Instruments
Kit and Reagents
Software and Services

By Application:
Infectious Diseases
Genetics
Other Applications

By Technology:
PCR
Microarray
DNA Sequencing

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned

Novacyt Group
Biochek BV
Biomerieux SA
Bioneer Corporation
Idexx Laboratories Inc
Ingenetix GmbH
Neogen Corporation
Thermo Fischer Scientific Inc
Veterinary Molecular Diagnostics Inc
Biomedica Group

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