Global Animal Diagnostics Market: Future Demand, Analysis & Outlook to 2027

Global Animal Diagnostics Market: Future Demand, Analysis & Outlook to 2027

The animal diagnostics market is slated to record considerable proceeds over the coming years driven by an increase in technological developments in the field of molecular biology. The PCR (polymerase chain reaction) technology is extensively utilized for the genome sequencing of pathogens for the creation of essential elements that are used in disease diagnosis, parasite control, and biological research.

Numerous versions of PCR comprising nested PCR, Real-Time PCR (RT-PCR), and multiplex PCR have been designed for facilitating the diagnosis of veterinary ailments. In addition, numerous animal diagnostic companies are making investments in the development of diagnosis services, propelling business scenario.

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For instance, in May 2021, rapid diagnostic and data systems developer, AAD, announced an investment of $7 million for expanding the company’s platform for rapid, point-of-care decisions in human and animal health, supporting One Health objectives for the protection of animal, human, and environmental health.

On this note, the animal diagnostics market value is set to exceed USD 7.8 billion through 2027, according to the latest study by Global Market Insights, Inc.

The molecular diagnostics segment is estimated to record a revenue of USD 1,123 million by 2027. This rise is ascribed to the increasing demand for affordable and precise veterinary molecular diagnostics and the development of novel technologies, comprising PCR, biomarkers, microarrays, and others.

The availability of an extensive array of molecular diagnostic techniques that provide reliable and fast diagnostic outcomes is poised to boost the demand for animal diagnostic centers over the analysis period.

Brazil accounted for a major share of the Latin America animal diagnostics industry revenue in 2020 and is anticipated to exceed a valuation of more than USD 287 million through 2027. The high market share is ascribed to the increasing number of ownerships of companion animals and the escalating prevalence of parasitic and infectious diseases across the country.

The surging number of serious disorders among pet animals is encouraging industry participants to proceed with the development of innovative animal diagnostics techniques for bringing an upsurge in their quality of life. Furthermore, the presence of supportive government regulations for pet ownership in the country is creating opportunities for market participants for the introduction of novel animal diagnostics services.

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The companion animals segment registered nearly 60% of the overall market share in 2020. The segment is expected to record around USD 4.6 billion through 2027. Increasing initiatives by private agencies and government organizations for the promotion of animal health are major factors contributing to the segment growth.

For instance, the Food and Agriculture Organization and the American Veterinary Medical Association are working in a collaborative effort for the protection of public health through the prevention and control of zoonotic diseases by safeguarding companion animal health.

On the whole, increasing advancements that provide cost-effective and precise clinical testing will boost animal diagnostics market size through the forthcoming years.

Partial Chapter of the Table of Content

Chapter 2   Executive Summary

2.1    Animal diagnostics industry 3600 synopsis, 2016 - 2027

2.1.1    Business trends

2.1.2    Technology trends

2.1.3    Animal type trends

2.1.4    Regional trends

Chapter 3   Animal Diagnostics Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2016 – 2027 (USD Million)

3.3    Industry impact factors

3.3.1    Growth drivers

3.3.1.1    Growing trend of adopting pet animals

3.3.1.2    Rising prevalence of food borne and zoonotic diseases

3.3.1.3    Favorable government initiatives

3.3.1.4    Rapidly increasing demand for animal products

3.3.1.5    Advancements in veterinary diagnostics

3.3.2    Industry pitfalls & challenges

3.3.2.1    Prohibitive cost associated with animal tests

3.3.2.2    Low out of pocket expenditure on pet healthcare in developing countries

3.4    Growth potential analysis

3.4.1    By technology

3.4.2    By animal type

3.5    COVID-19 impact analysis

3.6    Regulatory landscape

3.6.1    U.S.

3.6.2    Europe

3.7    Porter’s analysis

3.8    Competitive landscape, 2020

3.8.1    Company matrix analysis, 2020

3.9    PESTEL analysis

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