Animal Diagnostics Market COVID-19 Impact Analysis, Trends, Business Growth & Forecast 2027
On this note, the global Animal Diagnostics Market size is estimated to surpass USD 7,837.8 million by 2027, as per the latest study by Global Market Insights Inc.
Animal diagnostic instruments are experiencing considerable demand owing to increasing efforts to control the prevalence of animal diseases, such as tick flu, cattle tick, avian influenza, coccidiosis, and others. Recent technological innovations in molecular biology have brought significant expansion in animal diagnostic tools and methodologies.
For instance, the polymerase chain reaction (PCR) technology is used for DNA sequencing of pathogens that plays a crucial role in disease diagnosis, biological research, and parasite control. Moreover, various kinds of PCR technologies, such as Real-Time PCR (RT-PCR), multiplex PCR, and nested PCR, are found very helpful in diagnosing different veterinary ailments.
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Global animal diagnostics market size is slated to cross over US$7.8 billion by 2027, says Global Market Insights, Inc. Elucidated below are some key factors propelling veterinary diagnostics business trends.
Growing networks of veterinarians
Advancements in DNA biotechnologies have greatly contributed to many animal disease control programs to provide better health to animals. For example, IDEXX Laboratories, in January 2020, introduced a Rapid Digital Cytology service, powered by VetConnect PLUS software to expand its veterinary healthcare business worldwide. Cytology service is designed to digitally connect veterinarians to a network of over 100 veterinary clinical pathologists and allow the collection of cytology interpretations within few hours.
Adoption of advanced pet diagnostics
Isothermal technology is another novel animal diagnostics tool that maintains a constant temperature while conducting reactions. The implementation of these techniques eliminates the requirement of thermal regulation as mandatory in traditional techniques and reduces the cost, size, and complexities of point-of-care testing methods in animals. These novel advancements in the field of molecular biology are likely to influence many industry players to launch efficient and affordable pet diagnostic solutions and expand their market share.
Prevalence of diseases in companion animals
The industry share from the companion animal segment was over 60% in 2020 and is anticipated to register around US$4.6 billion by 2027. There are various government and private organizations who are collaborating to promote animal health and ensure safety to human health from animal transmitted diseases, that causes pandemics, such as COVID-19, avian flu, bird flu, SARS, AIDS, Ebola, swine flu, zika, MERS, and others. For instance, the American Veterinary Medical Association and Food & Agriculture Organization are working together to protect public health by controlling & preventing zoonotic diseases in companion animals, creating demand for animal diagnostics tools.
Growing trend of pet ownership in Latin America
Latin America animal diagnostics industry is predicted to account for over US$287 million share by 2027, with Brazil dominating the regional market. Brazil is witnessing a substantial increase in pet ownership and surging prevalence of animal diseases. According to an article in 2019, dogs are the most favorite pet in Brazil, with a population of about 52 million across 44.3% of households.
Supportive regulations for pet ownership is expected to create significant demand for novel animal diagnostics. Moreover, escalating demand for various animal products is further likely to increase the adoption of veterinary diagnostics across the region to ensure better animal health. As per a report published in 2020, Brazil is among the world’s largest beef exporters, which exports a carcass weight of nearly 2 million tons each year globally.
Virbac, Neogen, Thermo Fisher Scientific, Zoetis, Boehringer Ingelheim International GmbH, Heska Corporation, and IDEXX Laboratories are among some of the prominent makers of animal diagnostic systems globally. These industry players are emphasizing on several strategies, including acquisitions, partnerships, and novel product launches to enlarge their product portfolio and consolidate their presence in the global market. For example, Neogen Corporation in March 2020 acquired Magiar Chilena (Magiar), a distributor of animal and plant diagnostics. This strategic venture aided Neogen to consolidate its presence in Chile and serve a wider customer base.
Veterinary diagnostics instruments play a critical role in maintaining pet health and preventing animal-derived diseases. With the prevalence of outbreaks like COVID-19, Ebola, Swine flu, and others, the importance of having robust animal diagnostics across veterinaries and research centers for their preventions will become critical.
Partial Table of Contents (ToC) of the report:
Chapter 4 Animal Diagnostics Market, By Product
4.1 Key segment trends
4.2.1 Market size, by region, 2016 – 2027 (USD Million)
184.108.40.206 Market size, by region, 2016 – 2027 (USD Million)
4.2.3 Lateral flow assays
220.127.116.11 Market size, by region, 2016 – 2027 (USD Million)
4.2.4 Immunoassay analyzers
18.104.22.168 Market size, by region, 2016 – 2027 (USD Million)
22.214.171.124 Market size, by region, 2016 – 2027 (USD Million)
4.3 Clinical biochemistry
4.3.1 Market size, by region, 2016 – 2027 (USD Million)
4.4.1 Market size, by region, 2016 – 2027 (USD Million)
4.5 Molecular diagnostics
4.5.1 Market size, by region, 2016 – 2027 (USD Million)
126.96.36.199 Market size, by region, 2016 - 2027 (USD Million)
188.8.131.52 Market size, by region, 2016 - 2027 (USD Million)
Browse complete table of content of this report @ https://www.gminsights.com/toc/detail/animal-diagnostics-market
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