This report provides exclusive insights into the COVID-19 impact on the Veterinary Molecular Diagnostics Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Veterinary Molecular Diagnostics Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Veterinary Molecular Diagnostics Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by
Infinium Global Research on veterinary molecular diagnostics market provides an in-depth analysis of segments and sub-segments in global as well as regional
veterinary molecular diagnostics market. The study also highlights the impact
of drivers, restraints and macro indicators on the global and regional
veterinary molecular diagnostics market over the short term as well as long
term. The report is a comprehensive presentation of trends, forecast and dollar
values of global veterinary molecular diagnostics market. According to the
report, the global veterinary molecular diagnostics market is projected to grow
at a CAGR of 8.2% over the forecast period of 2018-2024.
The molecular diagnostic is a
collection of techniques used to analyses biological markers in the genome and
proteome. In veterinary molecular diagnostics, samples that are derived from
animals are tested. This diagnostic mostly focuses on the identification,
genotyping of pathogens and detection. In veterinary diagnosis, these
techniques are used to diagnose diseases in individual animals and groups or to
assess the disease status of a group. Expansions in the farm animals sector and
in sociable attitude towards pet animals have resulted in an augmented demand
for fast and reliable diagnostic techniques.
Growing consciousness regarding
the importance of molecular diagnostics among veterinarians and the general
public in both developed and developing countries for healthy livestock is
estimated to drive the global veterinary molecular diagnostics market. Further,
increasing incidence of numerous animal diseases worldwide, and an upsurge in
spending on pets are other reasons driving the growth of this market. Additionally, owing to the increasing
incidence of foodborne zoonotic diseases worldwide the production of animal has
reduced by 15%-20% per year. As per the European food safety authority (EFSA),
around 3,20,000 cases of foodborne and zoonotic diseases are reported every
year. Therefore, with increasing, consciousness regarding zoonotic diseases
such as bird flu and swine flu farm owners are progressively inclining towards
the appropriate care of livestock through correct and specific diagnosis.
Furthermore, growth in purchase
and usage of several diagnostic instruments that are used in veterinary practices,
families with high income that keep pets and frequently visit veterinary
laboratories and in-clinic diagnostic processes are some of the factors
boosting the growth of this market. Rising urbanization and growth in the
number of pet owners are likely to provide opportunities to the veterinary
molecular diagnostics market in the upcoming year. However, low awareness
regarding veterinary molecular diagnostics in developed and developing
countries act as a restraining factor for the market.
Geographically, North America has
dominated the market growth followed by Europe. The boosting factors for the
veterinary molecular diagnostics market are the high number of animal diagnosis
tests by pet owners, a large number of facilities for research & development
and increasing demand for livestock food products. Whereas, the factors
responsible for the growth of veterinary molecular diagnostics market in Europe region is due to increasing awareness of pet nutrition & health, augmented
pet adoption and presence of innovative veterinary molecular diagnostic
technology for testing a wide range of an animal pathogen.
The report on global veterinary
molecular diagnostics market covers segments such as product, technology,
animal type, disease indication, and end-user. On the basis of product, the
global veterinary molecular diagnostics market is categorized into instruments
& software, kits & reagents, and services. On the basis of technology,
the global veterinary molecular diagnostics market is categorized into
polymerase chain reaction (PCR), microarrays and DNA sequencing. On the basis
of the animal type, the global veterinary molecular diagnostics market is
categorized into companion animals and livestock animals. On the basis of
disease indication, the global veterinary molecular diagnostics market is
categorized into vector-borne diseases, respiratory pathogens detection,
diarrhea pathogens detection, and others. On the basis of end-user, the global
veterinary molecular diagnostics market is categorized into hospitals/clinics
and reference laboratories.
The countries covered in the
North America region includes the U.S., Canada, and Mexico; while Asia-Pacific
includes China, Japan, India, South Korea, Malaysia, and among others.
Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the
European region. The U.S. drives the growth in the North America region as it
is the largest market in the region. The Asia-Pacific region offers substantial
potential for the market growth owing to rapid growth in markets such as India
and China. The APAC region is projected to experience a growth at a CAGR of x.x%
over the period of 2018-2024.
The report provides profiles of
the companies in the global veterinary molecular diagnostics market such as
IDEXX Laboratories, Inc., VCA, Inc., Thermo Fisher Scientific, Inc., Novacyt
Group, QIAGEN N.V., Biomedica Medizinprodukte GmbH, HealthGene
Corporation, Bioneer, Abaxis,
Inc. and Neogen Corporation.
The report provides deep insights
on demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the global veterinary molecular diagnostics market. Moreover,
IGR-Growth Matrix analysis given in the report brings insight into the
investment areas that existing or new market players can consider. The report
provides insights into the market using analytical tools such as Porter's five forces
analysis and DRO analysis of veterinary molecular diagnostics market. Moreover,
the study highlights current market trends and provides forecast from
2018-2024. We also have highlighted future trends in the veterinary molecular
diagnostics market that will impact the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings insight
into the market share of the leading players. This report will help
manufacturers, suppliers, and distributors of the veterinary molecular
diagnostics market to understand the present and future trends in this market
and formulate their strategies accordingly.