Rising prevalence of various animal diseases is a key factor driving the Global Veterinary Molecular Diagnostics Market, says Fortune Business Insights in a report, titled “Market Size, Share and Global Trend By Animal (Livestock, Companion), By Product (Instruments & Software, Kit & Reagents, Services), By Disease Indications (Infectious diseases, Respiratory diseases, Metabolic diseases), By End User (Hospitals, Clinics, Others) and Geography Forecast till 2026.” Adoption of advanced diagnostic techniques is expected to aid the growth of the global veterinary molecular diagnostics market.
Rising Prevalence Of Various Animal Diseases Will Boost Growth
High sensitivity and specificity testing with molecular diagnostics is a key factor expected to favor the growth of the global veterinary molecular diagnostics market during the forecast period. Few molecular diagnostic techniques involve polymerase chain response (PCR), fluorescent in situ hybridization (FISH), peptide nucleic acids (PNA), nanotechnology, biochips, proteomic innovations, and electrochemical location of DNA. Further, the increasing cases of numerous animal diseases are expected to stimulate the global veterinary molecular diagnostics market growth. Rising importance of animal health and the surge in the number of veterinary diagnostic centers are predicted to aid the expansion of the global veterinary molecular diagnostics market shares.
Moreover, the launch of Salmonella Enteritidis-Typhimurium-Heidelberg DNA Test Kit and Infectious Bronchitis Virus RNA Test Kit is predicted to aid growth of the global veterinary molecular diagnostics market. For instance, BioChek announced the launch of Salmonella Enteritidis-Typhimurium-Heidelberg DNA Test Kit and Infectious Bronchitis Virus RNA Test Kit for the detection in avian samples. Furthermore, the adoption of advanced diagnostic techniques and widened focus on food safety is expected to further boost the global veterinary molecular diagnostics market revenue. In addition, the acquisition by key companies is expected to enable growth of the global veterinary molecular diagnostics market. For instance, Neogen announced the acquisition of The University of Queensland Animal Genetics Laboratory (AGL), which made the company the fourth animal genomics laboratory. Nonetheless, high costs associated with sophisticated molecular diagnostics instruments is expected to restrict the growth of the global veterinary molecular diagnostics market.In addition, lack of skilled technicians in emerging countries is also a factor likely to hamper the growth of the global market.
North America to Offer Lucrative Growth Opportunities
Geographically, the global veterinary molecular diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the global veterinary molecular diagnostics market during the forecast period owing to the rising cases of animal diseases. Increasing government & private funding for animal health along with a large volume of tests performed on animals are predicted to aid the growth of the global veterinary molecular diagnostics market in North America. The veterinary molecular diagnostics market in Europe is predicted to grow during the forecast period due to high usage of superior-quality diagnostics techniques, active government support, along with the surge in a number of veterinary diagnostic centers. Asia Pacific is expected to register significant growth during the forecast period owing to the increasing number of diagnostic laboratories, government and private funding for veterinary health care activities, and rising awareness about veterinary molecular diagnostics in the region.
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