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The Business Research Company's Veterinary Molecular Diagnostics Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, February 19, 2025 /EINPresswire.com/ -- Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
What has been the growth trajectory for the Veterinary Molecular Diagnostics Market?
Riding on the rails of rapid advancements in the veterinary domain, the Veterinary molecular diagnostics market size has experienced brisk growth over the past couple of years. The market, in 2024, was worth $0.63 billion and is projected to swell up to $0.7 billion in 2025, reflecting a compound annual growth rate CAGR of 10.1%. The substantial growth during this historic period can be ascribed to an alarming rise in zoonotic and foodborne diseases, growing preference for multiple testing panels as well as a visible consolidation in the veterinary diagnostics industry. Other factors such as increased animal health spending and a surging demand for food products derived from animals have also contributed to this growth trend.
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What lies in the future for the Veterinary Molecular Diagnostics Market?
Keeping pace with global trends, the veterinary molecular diagnostics market is anticipated to see substantial growth in the forthcoming years. With projections indicating a growth to $1.01 billion by 2029 at a sprightly compound annual growth rate CAGR of 9.7%, the growth in the forecast period factors in the rise of companion animals, increased adoption of pet insurance, escalating pet population, mounting expenditure on animal healthcare, and a higher demand for animal diagnostic tests.
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What is driving this astounding market growth?
The high prevalence of zoonotic diseases is expected to fuel the growth of the veterinary molecular diagnostics market moving forward. Zoonotic diseases are infectious ailments that can transmit between animals and humans. They can be triggered by various agents such as bacteria, viruses, parasites, or fungi. Some common zoonotic diseases include rabies, Lyme disease, salmonellosis, toxoplasmosis, and more. The spread of these diseases is affected by various factors such as deforestation, wildlife exploitation, intensive animal farming, biodiversity loss, and human mobility. Veterinary molecular diagnostics play an instrumental role in detecting these diseases in animals early on preventing their transfer to humans.
Who are the key players in the Veterinary Molecular Diagnostics Market?
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, and Biolab S.r.l are some of the prominent companies operating in the veterinary molecular diagnostics market.
How is the Veterinary Molecular Diagnostics Market segmented?
The veterinary molecular diagnostics market is divided up into:
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
Further sub-segments within the market include:
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
Which regions are leading the Veterinary Molecular Diagnostics Market?
In 2024, North America marked the largest region for the Veterinary Molecular Diagnostics market. However, during the forecast period, the Asia-Pacific region is anticipated to emerge as the fastest-growing region. The market report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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