How is the Veterinary Molecular Diagnostics Market Poised for Growth: Trends and Opportunities Through 2034
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How has the veterinary molecular diagnostics market size evolved in recent years?
In the past few years, the size of the veterinary molecular diagnostics market has shown quick expansion. Predictions state it will increase from $0.63 billion in 2024 to $0.7 billion in 2025, presenting a compound annual growth rate (CAGR) of 10.1%. Factors such as the widespread occurrence of zoonotic and foodborne illnesses, rising interest in numerous testing panels, consolidations in the veterinarian diagnostics sector, growing expenditure on animal healthcare, and the escalating requirement for food obtained from animals significantly contributed to growth during the historic period.
What are the predictions for the veterinary molecular diagnostics market size in the coming years?
In the imminent years, a significant increase in size is expected in the veterinary molecular diagnostics market, as it is projected to grow to a value of $1.01 billion in 2029, with a compound annual growth rate (CAGR) of 9.7%. This anticipated growth during the forecast period is due to factors such as increasing adoption of pets, rising pet insurance uptake, growing pet population, elevated animal healthcare spending, and burgeoning demand for animal diagnostic tests. Key trends predicted during the forecast period are advanced developments in veterinary molecular diagnostic technologies, sophisticated laboratory appliances, and innovations in techniques like PCR, next-generation sequencing (NGS), and breakthroughs in microarray technology.
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What key factors are fueling the growth of the veterinary molecular diagnostics market?
The rise in zoonotic diseases is expected to foster the expansion of the veterinary molecular diagnostics market. Zoonotic diseases, which are infections that spread between animals and humans, can originate from bacteria, viruses, parasites, or fungi. Examples of these diseases are rabies, Lyme disease, salmonellosis, and toxoplasmosis among others. Deforestation, wildlife exploitation, intensive animal farming, biodiversity loss, and human mobility are some factors that contribute to spreading zoonotic diseases. Veterinary molecular diagnostics are beneficial in early detection of these diseases in animals which helps prevent transmission to humans. Additionally, it aids in efficient disease control by swiftly and correctly identifying pathogens. For instance, as per a government report from the United Kingdom in February 2024, there was a rise in confirmed Lyme disease cases in England during the last quarter of 2023 with 335 cases reported, compared to 273 cases in the same period in 2022. Consequently, the increased occurrence of zoonotic diseases is fueling the growth of the veterinary molecular diagnostics market.
How is the global veterinary molecular diagnostics market divided into key segments?
The veterinary molecular diagnostics market covered in this report is segmented –
1) By Product: Kits And Reagents, Instrument
2) By Animal Type: Companion Animals, Livestock Animals
3) By Application: Infectious Diseases, Genetic Diseases, Other Applications
4) By End-User: Diagnostic Laboratories, Veterinary Clinics, Veterinary Hospitals, Other End-Users
Subsegments:
1) Kits and Reagents: Polymerase Chain Reaction (PCR) Kits, Reverse Transcription PCR (RT-PCR) Kits, Real-Time PCR Kits, Nucleic Acid Extraction Kits, Enzyme-linked Immunosorbent Assay (ELISA) Kits, Hybridization Kits, Reagents for Next-Generation Sequencing (NGS)
2) Instruments: PCR Machines (Thermal Cyclers), Real-Time PCR Machines, Nucleic Acid Analyzers, Gel Electrophoresis Equipment, DNA Sequencers, Automated Liquid Handling Systems, Molecular Imaging Systems
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Who are the key firms paving the way for growth in the veterinary molecular diagnostics market?
Major companies operating in the veterinary molecular diagnostics market are Roche Diagnostics Corporation, Thermo Fisher Scientific Inc., Merck KGaA, Zoetis Inc., Illumina Inc., PerkinElmer Inc., bioMérieux S.A., IDEXX Laboratories Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., LGC Group Ltd., Neogen Corporation, Abcam plc, Eiken Chemical Co. Ltd., Bioneer Corporation, INDICAL BIOSCIENCE GmbH, Biochek B.V., Ring Biotechnology Co. Ltd., Ingenetix GmbH, MiDOG Animal Diagnostics LLC, Biolab S.r.l., Bionote USA Inc.
Which trends are expected to transform the veterinary molecular diagnostics market?
Prominent enterprises involved in the veterinary molecular diagnostics market are shifting their focus towards the automation and scaling of diagnostic methods, such as high-throughput testing devices. This shift aims to enhance diagnostic accuracy, facilitate efficient testing, and expedite the detection of diseases in animals. High-throughput testing machines, sophisticated diagnostic tools capable of efficiently analyzing a large number of samples, are ideal for broad-scale testing in labs or clinic environments. To illustrate, in June 2023, Iowa State University’s Veterinary Diagnostic Laboratory (VDL), a U.S.-based institution, launched an avant-garde molecular diagnostic testing device named SmartChip, equipped with quantitative polymerase chain reaction (qPCR) testing technology. Remarkably, this ground-breaking gadget can handle over 5,000 samples on a plate barely larger than a postage stamp and has a significantly expanded testing capacity when teamed up with a 384-sample system with automated handling features. SmartChip testing employs microfluidic technology to isolate specific interest targets in samples, using a volume 100 times smaller than that used by VDL’s conventional 96-well machines.
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What regions are contributing significantly to the growth of the veterinary molecular diagnostics market?
North America was the largest region in the Veterinary Molecular Diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary molecular diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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