Veterinary molecular diagnostics Market by Product Type (PCR Kits, RT-PCR Kits, RAPD-PCR Kits, INAAT Kits, Microarray Kits, DNA Sequencing Kits), Species type (Livestock Animals, Companion Animals), Disease Type (Anaplasma spp., Ehrlichia spp.), End User & Region - Forecast to 2022 – 2028
Veterinary Molecular Diagnostics Market - Analysis, Outlook, Growth, Trends, Forecasts
- December 2021
- 275 pages
Veterinary Molecular Diagnostics Market growth snapshot:
[275 Pages Report] The global Veterinary Molecular Diagnostics Market is estimated to expand from a value of US$ 168.7 Mn in 2021, to a value of US$ 277.2 Mn by 2028 end. It is also estimated for this market to grow at a CAGR of 7.2% during the forecast period.
Growing demand for this market is due to high adoption of animal-derived food products coupled with rising prevalence of zoonotic diseases and rising adoption of veterinary diagnostics. Veterinary biologics is gaining traction in coming years due to high animal spending and awareness about animal diseases.
RT-PCR technology has proved to be an effective diagnostic technique over DNA sequencing, on account of being early, rapid and sensitive veterinary molecular diagnostics - as it exhibits about 99% specificity. RT-PCR technology is gaining importance due to the fact that over 85% of the animals are diagnosed using these RT-PCR based home kits. Thus, this is one of the major factor that will boost the demand for veterinary home diagnostics market in the forecast period
Increasing pet healthcare spending, particularly vet care on livestock and companion animals worldwide push market player to come in pet care diagnostic segment. Manufacturers of veterinary molecular diagnostic kits are focusing on developing novel and innovative kits for treating various diseases and protect the animal health.
Ease of FDA approval for animal molecular diagnostic kits and reagents coupled with rising awareness of animal diseases among pet owners and development of novel products with high test sensitivity and specificity is promoting the veterinary molecular diagnostics market in North America and European countries. This, in turn, would further bring bundle of opportunities for molecular test kits manufacturers to open their manufacturing base in these regions.
Most companies in the veterinary molecular diagnostics market are working towards expanding their product portfolio. Additionally, manufacturers are focusing on forward integration with partnerships with wholesalers, distributors and other channel partners to gain ownership over the value chain.
Veterinary molecular diagnostics market Outlook:
Global Veterinary Molecular Diagnostics Market Value 2022
US$ 182.1 Mn
Forecasted Global Market Value (2028)
US$ 277.2 Mn
Market Growth Rate 2022-2028
Top 5 Countries % Share, 2021
bioMérieux SA, IDEXX Laboratories, Inc, Thermo Fisher Scientific Inc., Qiagen N.V., Neogen Corporation are the key players in veterinary molecular diagnostics market
2013-2021 Veterinary Molecular Diagnostics Market Demand Outlook Compared to 2022-2028 Forecast
Sales of veterinary molecular diagnostics market grew at a CAGR of 6.8% between 2013 and 2021.
In 2021, the global market of veterinary molecular diagnostics accounts for approx. 6.8% of the overall veterinary diagnostics market that accounts around US$ 2.5 Bn.
Increased consumer spending on veterinary care is creating the demand for veterinary molecular diagnostics market. As per the American Pet Products Association (APPA), spending on vet care has soared faster than the GDP over the past two years. With the rise in pet ownership, the overall spending on vet care is booming, thereby, increasing the spending per pet as well at a significant pace.
According to an annual survey by the American Pet Products Association, Americans spent around US$ 125.1 billion on Animal care in 2020. Rising health issues among dogs and larger animals have created a larger financial burden on their owners.
High spending from people on veterinary services and rise in internet tool for knowledge sharing about animal health have made people realize the importance of regular checkups. The growing demand for veterinary molecular diagnostics over conventional procedures is further expected to fuel the growth of the veterinary molecular diagnostics market.
Considering this, it is expected for the global veterinary molecular diagnostics market to grow at a CAGR of 7.2% over the forecast period.
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What is COVID-19 Impact on veterinary molecular diagnostics market?
Country level lockdown of big economies severely impacted the veterinary molecular diagnostics market in a negative way. This negative impact was due to limited production of diagnostic kits, transportation-related delays owing to travel restriction and driver shortages. Geographic location was also considered to be one of the significant factors for the veterinary molecular diagnostics market supply chain.
Visit to diagnostic centers were drastically reduced from third quarter of 2020 until the mid of 2021. At present, the industry is recovering at a steady rate and all the key players of the industry have shifted their focus on the efforts to balance their overall losses due to the worldwide lockdown.
Which Factors Are Restraining Demand for Veterinary molecular diagnostics market?
The rising pet care costs and demand for medical tests and relative need for expensive diagnostic equipment for veterinary molecular diagnosis is expected to restrain the overall market cost. High cost associated with these testing equipment together with limited access to these high costing diagnostic tests has come out to be the biggest hindrance, averting more frequent use of molecular diagnostic techniques. Moreover, the molecular diagnostic technique is cost prohibitive for a large number of pet owners as they do not have pet insurance scheme. Availability & preference for other lower costing diagnostic methods over the expensive RT-PCR test can be seen trending in the market.
Additionally, in various endemic countries, there has been variations in veterinary disease pattern over a period of time owing to the discovery of new virulent. On the other hand, there has also been a very limited knowledge and understanding amongst doctors, about the epidemiological pattern of these diseases in such countries, thereby, creating large gaps. This, therefore, is expected to hamper the discovery and production limit for molecular diagnostic kits to prevent spread of the disease by introducing new disease diagnostic methodologies. All these factors are expected to retrain the growth of veterinary molecular diagnostics market during the forecast period.
Veterinary Molecular Diagnostics Market - Country-wise Insights
What Makes the U.S. a Large Market for Veterinary molecular diagnostics market?
The U.S. is estimated to account for nearly 88.6% of the North America veterinary molecular diagnostics market demand in 2022. High adoption of pets by U.S population and high involvement by the pet parents in maintaining the healthcare of their pets is expected to drive the demand for veterinary molecular diagnostics market in this country.
Increasing pet adoption rates will, in turn, increase the pool of pets in the veterinary clinics for diagnosis which will fuel the overall revenue of the veterinary molecular diagnostics, thereby, driving the growth of the market.
According to the APPA (American Pet Products Association), in 2017, an estimated 63 million households in the United States owned a dog.
Furthermore, re-emerging concept of ‘One Health’ has impacted the field of molecular testing, especially for the management of infectious diseases. The concept aims at provision of high-throughput molecular screening for companion animals across the involved countries like U.S and generate more revenue.
Why is Germany Considered a Lucrative in Measurement technology in downstream process market?
Germany is estimated to account for 34.0% market value share in European veterinary molecular diagnostics in 2022. Factors such as increased government funding and support for international animal disease eradication programs is boosting the demand for veterinary molecular diagnostics market in Germany.
International agencies and organizations such as the World Organization for Animal Health (OIE), Centre for Disease Prevention and Control (CDC) and Food and Agriculture Organization have made major contributions to reduce animal diseases and eradicate them by controlling and monitoring programs for animal diseases. Introduction of such financial grants to support research and development activities for molecular screening of animal disease is further expected to boost the growth of the global veterinary molecular diagnostics market in terms of revenue.
“EU funded the PAN-SPSO project to encourage African countries to develop animal services. The Stop Transboundary Animal Diseases and Zoonoses were funded by the Australian Agency of International Development for Disease Management and Vaccination Programs in Southeast Asia with the OIE/Japan Trust Fund Project and FAO/Republic of Korea project on FMD control in Asia.”
What are the Factors Fueling the Demand for Veterinary molecular diagnostics market in France?
France is estimated to account for nearly 15.8% of the global veterinary molecular diagnostics market share in 2022, while growing at a CAGR of around 7.9% during the forecast period.
France has shifted the healthcare standards for veterinary care in recent years. Most of the private veterinarians in the earlier times, did not have an X-ray machine. Pets did not get effective diagnosis and treatment facilities. But as public attitudes toward pets started changing, the veterinary diagnosis with standards care also began. People in France are now adopting the molecular diagnostic techniques which is the latest innovative vet care diagnostic method. The veterinary molecular diagnostics market in this region is thus, expected to grow rapidly in the near future.
How will the Veterinary molecular diagnostics market growth Across India?
Demand for veterinary molecular diagnostics market in India is expected to rise with impressive growth opportunities and an expected CAGR of around 5.6% over the forecast period.
Urbanization and growing wealth in developing region for animals are driving the adoption of pets, and in turn driving the demand for veterinary healthcare services as well. Additionally, the increasing demand for animal proteins, and increasing prevalence of animal diseases is expected to drive the demand for innovative and cost effective diagnostic techniques in the India.
Veterinary Molecular Diagnostics Market - Category-wise Insights
Demand for which product to continue gaining Traction?
PCR Kits accounts for the highest share by value, of nearly 50.7% in 2021 due to its availability at less cost and high specificity as compared with microarray and INAAT kits.
Additionally, onset of new technologies such as rapid RT-PCR being most reliable technique with 99% specificity and high efficiency is expected to create more demand for PCR kits by end users. PCR kits are highly used in home testing, veterinary clinics, and diagnostic centers.
Why Livestock Animals by species type segment grow market tremendously?
Rising cases of uncured influenza animal care is likely to create demand for veterinary molecular diagnostics market globally, owning market share of around 71.0% by revenue in 2022.
Livestock animals have various advantages as they can detected and diagnosed for pathogenesis very accurately and provide wide range of specificity. Molecular level diagnosis can easily done on livestock. Moreover, awareness of zoonotic diseases in livestock animals is creating major revenue opportunities for the market players in this industry.
Which Disease Type will hold the most of the market share?
By disease Type, Influenza and New Castle Disease are the two leading segments and together, they hold over 58% of the global market share by value in 2022.
Influenza and new castle diseases are very common in animal and it is not cured in many animals with conventional animal treatment. There is a high need for molecular therapy, required for treatment and diagnosis in animal. Flu is very common in animal as a respiratory illness and Influenza viruses affects several different animals, such as; horses, cats, dogs, birds and swine, while New castle diseases are very similar to avian influenza. The laboratory testing thus, become important to confirm the diagnosis of these disease with the help of molecular testing. Hence, both these diseases accounts for the highest revenue generating segment in the veterinary molecular diagnostics market.
Which End User will hold the most of the market share?
By end user, Veterinary hospitals segment lead the market with market revenue share of 49.7% in 2022. Most of the walk-in patient for vet care, prefer to go to veterinary hospital for vet care, as the treatment and diagnosis is easily available in veterinary hospital. High adoption of veterinary molecular treatment for animal by vet hospitals is expected to witness significant growth in recent years.
Veterinary Molecular Diagnostics Market Competitive Landscape
The veterinary molecular diagnostics market is an extremely consolidated market, with major competitors such as bioMérieux SA, IDEXX Laboratories, Inc., Neogen Europe, Ltd., Veterinary Molecular Diagnostics, Inc., Thermo Fisher Scientific, Inc., ID-Vet, and Qiagen N.V operating in every region of the globe. To attract more customers, major players are focusing on mergers and acquisition and launching novel products in order to boost their market position and expand their product portfolios. Furthermore, manufacturers are concentrating their efforts on obtaining regional regulatory approvals for their products. In the coming years, these initiatives are projected to fuel the expansion of the veterinary molecular diagnostics market.
- In September 2021, QIAGEN N.V. won a U.S. government contract to increase the production capacity for consumables used in integrated PCR testing systems.
- In Sept 2021, IDEXX Foundation took initiatives with registered charitable organizations located in Maine, home to IDEXX’s World Campus. These local organizations aligned with the IDEXX Foundation’s mission to help create positive, lasting impacts for animals, people, and the environment through inclusive, outcomes-focused initiatives in communities around the world.
Scope of the Report
Historical Data Available for
USD Million for Value and Volume in Unit
Key Countries Covered
US, Canada, Brazil, Mexico, Argentina, Germany, U.K., France, Spain, Russia, China, Japan, South Korea, India, Australia, New Zealand, GCC Countries, South Africa
Key Segments Covered
Product, Species type, Disease type, End User and Region
Key Companies Profiled
Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Veterinary Molecular Diagnostics Market by Category
- PCR Kits
- RT-PCR Kits
- RAPD-PCR Kits
- INAAT Kits
- Microarray Kits
- DNA Sequencing Kits
By Species type
- Livestock Animals
- Companion Animals
By Disease Type
- Anaplasma spp.
- Ehrlichia spp.
- New Castle Disease
- Porcine Reproductive & Respiratory Syndrome (PRRS)
By End User
- Veterinary Hospitals
- Clinical Laboratories
- Veterinary Research Institutes
- North America
- Latin America