Market Research Future (MRFR) has published a cooked research report on the “Global Veterinary biomarkers Market” that contains information from 2018 to 2032. The Veterinary biomarkers market is estimated to register a CAGR of 13.20% during the forecast period of 2023 to 2032.
Veterinary Biomarkers Market Highlights
The global veterinary biomarkers market is accounted to register a CAGR of 13.20% during the forecast period and is estimated to reach USD 2.13 Billion by 2032.
The market for veterinary biomarkers is propelled by the expanding demand for precise diagnostic equipment in animal healthcare. Biomarkers improve veterinary care by assisting in illness detection, monitoring, and treatment evaluation. Expanding pet ownership and awareness of animal health are key market drivers, and industry development is furthered by research and technology breakthroughs.
Key Players
MRFR recognizes the following companies as the key players in the global Veterinary biomarkers market— Zoetis, Virbac, Life Diagnostics, ACUVET BIOTECH, Merck & Co., Inc., IDEXX Laboratories, Inc., MI: RNA Diagnostics Ltd., Mercodia AB, Antech Diagnostics, Inc, Avacta Animal Health Limited and others
Segment Analysis
The global veterinary biomarkers market has been segmented based animal type, product type, application and disease type.
On the basis of animal type, the market is segmented into companion animals and production animals. The companion animals segment dominated the market in 2022. The market for companion animals is primarily being driven by the increase in the number of individuals who keep dogs, cats, and other small mammals as pets. More people are choosing to bring these animals into their homes, which has boosted the demand for cutting-edge healthcare options, including as biomarker-based diagnosis and therapies.
Based on product type, the global veterinary biomarkers market has been segmented into biomarkers, kits & reagents and biomarker readers. The kits & reagents segment dominated the market in 2022. The prevalence of diseases in animals, including pets, cattle, and wildlife, has increased the demand for accurate and efficient diagnostic methods. Due to diagnostic kits and reagents, veterinarians now have the tools necessary to identify illnesses quickly and accurately.
Based on application, the global veterinary biomarkers market has been segmented into disease diagnostics, preclinical research and others. The disease diagnostics segment dominated the market in 2022. Both veterinarians and pet owners are searching for quicker and more useful diagnostic techniques. Veterinarian biomarker testing, particularly those designed for point-of-care use, offer quick results that are necessary for prompt action and therapy.
Based on disease type, the global veterinary biomarkers market has been segmented into inflammatory & infectious diseases, cardiovascular diseases, skeletal muscle diseases, tumor and others. The inflammatory & infectious diseases category generated the most income in 2022. Zoonoses are contagious illnesses that not only affect animals but also humans. The COVID-19 pandemic has highlighted the importance of monitoring and combating infectious diseases in animals to prevent potential human transmission. This has increased funding for the study and diagnosis of these disorders, which has expanded the market for veterinary biomarkers.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Veterinary Biomarkers Market Research Report
Regional Analysis
The global veterinary biomarkers market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Veterinary biomarkers market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Veterinary biomarkers market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Veterinary biomarkers market comprises of Middle East, Africa, and Latin America.
The North America veterinary biomarkers market dominated this market in 2022 (45.80%). North America has one of the highest rates of pet ownership worldwide. Dogs, cats, and other companion animals are frequently viewed as part of the family in many houses. There is a critical need for enhanced veterinary care, especially biomarker-based diagnostics, to uphold the health and welfare of animals. This is a result of the strong emotional bond that pet owners have with their animals.
Moreover, the European market for veterinary biomarkers holds the second-largest market share. The strict regulations governing animal care are well-known in European countries. The need for accurate and reliable diagnostic methods, especially those based on biomarkers, grows as animal welfare becomes more of a priority. The market for veterinary biomarkers is growing as a result of the high priority that regulatory organisations and pet owners place on safeguarding the health and welfare of animals.
Additionally, from 2023 to 2032, the market for veterinary biomarkers in Asia-Pacific is anticipated to expand at the quickest rate. The Asia-Pacific region has several economies that are strongly dependent on agriculture, and it is also a big producer of cattle. Biomarkers are used not just for companion animals but also for cattle to track and manage infectious diseases and preserve the health of herds and flocks. The need for disease control is growing as customer demand for high-quality dairy and meat products rises.
Furthermore, the market for veterinary biomarkers is expanding in Latin America as a result of rising pet ownership, rising livestock production, and greater emphasis on animal health. In line with the changing veterinary care scenario in the area, biomarkers allow for accurate disease diagnosis and therapy monitoring. The demand for better animal welfare and research developments are what fuel market expansion.
Key Findings of the Study
- The global Veterinary biomarkers market is expected to reach USD 2.13 Billion by 2032, at a CAGR of 13.20% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to the area is a major producer of cattle. In order to monitor and control infectious diseases and maintain the health of herds and flocks, biomarkers are utilized not just for companion animals but also for livestock.
- Based on application, the disease diagnostics segment was attributed to holding the largest market in 2022, with an approximate market share of 45–65%.
- Zoetis, Virbac, Life Diagnostics, ACUVET BIOTECH, Merck & Co., Inc., IDEXX Laboratories, Inc., MI: RNA Diagnostics Ltd., Mercodia AB, Antech Diagnostics, Inc, Avacta Animal Health Limited and others
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Companies Covered | 15 |
Pages | 128 |
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