TMR’s report on the global veterinary molecular diagnostics market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators for the market during the forecast period from 2020 to 2030. The report provides revenue of the global veterinary molecular diagnostics market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global veterinary molecular diagnostics market from 2020 to 2030.
According to a new report published by Transparency Market Research (TMR) titled “Veterinary
Molecular Diagnostics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast,
2017–2025”, the global veterinary molecular diagnostics market was valued at US$ 377.2 Mn in 2016
and is projected to expand at a CAGR of 8.6% from 2017 to 2025 to reach value of US$ 792.5 Mn by
2025. This report offers a thorough understanding of the global veterinary molecular diagnostics market
including key trends, drivers, restraints, and opportunities.
Rising awareness about molecular diagnostics among veterinarians and general public in both developed
and developing countries is expected to drive the global veterinary molecular diagnostics market in the
near future. High test sensitivity and specificity and development of new products against new diseases
in animals are also driving the global veterinary molecular diagnostics market. The Asia Pacific region is
witnessing gradual adoption of new technologies in veterinary molecular diagnostics, increasing animal
health care expenditure, and changing dynamics of the in vitro diagnostics industry. Due to this, the
veterinary molecular diagnostics market in Asia Pacific is anticipated to expand at a CAGR of 9.2% from
2017 to 2025.
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The global veterinary molecular diagnostics market has been witnessing a significant shift from manual
systems toward automated systems. Incidence of new diseases such as helminth parasitic diseases and
protozoal parasitic diseases is rising. Development of better methods such as molecular diagnostics to
detect and fight these diseases promptly is expected to drive the global veterinary molecular diagnostics
market in the next few years. Factors indicating the growing importance of livestock diagnostics,
medicines, and vaccines such as surging demand for improved nutrition (particularly, animal protein),