Veterinary Biomarkers Market Research Report: Information Animal Type (Companion Animals and Production Animals), Product Type (Biomarkers, Kits & Reagents and Biomarker Readers), Application (Disease Diagnostics, Preclinical Research and Others), Disease Type (Inflammatory & Infectious Diseases, Cardiovascular Diseases, Skeletal Muscle Diseases, Tumor and Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

Market Overview

The Veterinary biomarkers market is projected to grow from USD 0.79 Billion in 2023 to USD 2.13 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.20% during the forecast period (2023 – 2032).

The requirement for biomarker-based assay tests is mostly driven by the rising incidence of chronic illnesses, including cancer and heart disease in animals. These are applied in veterinary applications to identify infections in their early stages. The market expansion is being fueled by R&D initiatives taken by major corporations to improve their biomarker portfolios. Other factors driving the market’s expansion include an increase in the number of companion animals and pet adoption rates. The usage of biomarkers, kits, and reagents for medical care of animals has increased dramatically in recent years, exploding the segment’s growth. The market’s top players consistently launch new products, helping the category develop.

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The elevated adoption rate, the rising number of companion animals, and the increasing frequency of chronic diseases, including cancer and cardiovascular disease in animals, are all driving the market’s expansion. Additionally, demand for veterinary biomarkers is growing because of factors like rising pet adoption numbers and increasing companion animals. Due to uncertainties in the distribution channels, the major market players had trouble providing veterinary products. One of the main drivers of the veterinary biomarkers business is the rising number of pet owners worldwide. Pets, whether canines, felines, or exotic animals, have blended into many households.

This propensity has led to an increase in consumer appetite for exceptional veterinary care as pet owners are more ready than ever to invest in the well-being and health of their animal companions. Veterinarians are under increasing pressure to provide these cherished pets with the best care possible; therefore, they must diagnose cases accurately and quickly. However, major businesses and governmental organizations have taken several steps to maintain animal healthcare operations during the pandemic. The expansion of product offerings, higher animal healthcare spending, increasing R&D adoption by important firms, and the return to normality following a pandemic are a few of the major factors boosting the veterinary biomarkers market.

Market Competitive Landscape:

• Zoetis
• IDEXX Laboratories, Inc.
• Avacta Animal Health Limited
• MI: RNA Diagnostics Ltd.
• Mercodia AB
• Virbac
• Life Diagnostics
• ACUVET BIOTECH
• Merck & Co., Inc.
• Antech Diagnostics, Inc.

Market Segmentation

Biomarkers, kits and reagents, and biomarker readers are included in the market segmentation for veterinary biomarkers based on product type. Disease diagnostics, preliminary studies, and other applications are part of the market segmentation for veterinary biomarkers. Depending on animal type, pets and livestock are included in the market segmentation for veterinary biomarkers. Inflammatory and infectious disorders, skeletal muscle diseases, tumors, and cardiovascular diseases are included in the market segmentation for veterinary biomarkers based on disease category.

Regional Insights

Due to factors including the wide availability of companion animals and the large annual spending on these animals, North America is predicted to lead the industry. Due to major businesses and the increasing number of veterinarians in the country, the United States receives most of the total revenue in North America. Europe holds the second-most market share for veterinary biomarkers. Europe is recognized for its strict laws and regulations controlling animal welfare. The demand for accurate and reliable diagnostic methods, particularly those based on biomarkers, rises as concern for animal welfare becomes more prevalent. The need for veterinary biomarkers is growing as owners of pets and regulatory authorities place a high value on safeguarding the health and well-being of animals.

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