PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320124
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320124
Veterinary Biomarkers Market size was valued at USD 830.5 Million in 2022, expanding at a CAGR of 12.6% from 2023 to 2030.
Veterinary biomarkers are used in clinical trials in animals for the purpose of predicting or monitoring outcomes of treatments in veterinary patients in addition to supporting human drug development. Due to the great expansion of available technology, the number and type of biomarkers reported in the literature and available for clinical and nonclinical use have increased greatly. One of the most interesting aspects is that the biomarkers are potentially useful in the prevention of diseases because, in many cases, they are irreplaceable aid to the early diagnosis of lethal pathologies.
Animals, including pets and cattle, are prone to a variety of inflammatory and viral disorders. These situations can have serious consequences for animal health, welfare, and productivity. Biomarkers are essential in the diagnosis, monitoring, and evaluation of the extent of various diseases in animals. Preventive Veterinary Medicine data showed that In total, 2125 horses were diagnosed with more than one chronic disease (3.0% of the total population; 23.6% of those with at least one chronic condition). The rising frequency of chronic disorders in animals, such as inflammatory and infectious diseases, and also cardiovascular disease, stimulates the demand for veterinary biomarkers. These biomarkers are critical in identifying, monitoring, and treating animal diseases, resulting in enhanced animal health outcomes and veterinary care. The development of new biomarkers and the incorporation of cutting-edge technologies such as genomics, proteomics, and metabolomics have increased the potential for biomarker-based diagnoses and customized treatments. However, limited awareness and adoption among veterinarians restrict the market growth.
The Global Veterinary Biomarkers Market is segmented on the basis of Animal Type, Disease Type, Product Type, Application, and Region.
The market is divided into two categories based on Animal type: Companion Animals and Production Animals. Companion Animals dominate the market. Biomarkers are used in companion animals for numerous purposes, including diagnosing and monitoring diseases like cancer, kidney disease, diabetes, and infectious diseases.
The market is divided into four categories based on Disease Type: Inflammatory & Infectious Diseases, Cardiovascular Diseases, Skeletal Muscle Diseases, Tumors, and Others. Inflammatory & Infectious Diseases dominate the market. The development and application of biomarkers specific to inflammatory and infectious diseases in veterinary medicine are focused on the need for early detection, accurate diagnosis, and effective management of these conditions.
The market is divided into two categories based on Product Type: Biomarkers, Kits & Reagents, and Biomarker Readers. Biomarkers, Kits & Reagents dominate the market growth. Biomarkers, kits, and reagents must be easily available in order for veterinary medicine to develop and precision diagnostics to be used in animal healthcare.
The market is divided into two categories based on application: Disease Diagnostics, Preclinical Research, and Others. Disease Diagnostics dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the population's disposable income, which has made the Veterinary Biomarkers Market more appealing. The veterinary biomarkers market provides a wide range of diagnostic tools, including test kits, reagents, and assays, to measure and analyze these biomarkers.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is anticipated to dominate the growth of the Veterinary Biomarkers Market, due to factors such as the high adoption of companion animals and high annual expenditure on these animals. North America has a strong pet ownership culture, with numerous households owning companion animals such as dogs, cats, and horses. This high rate of utilization generates a sizable market for veterinary products and services such as biomarker-based diagnostics and individualized therapies. According to the American Society for the Prevention of Cruelty to Animals, Roughly 6.5 million animals enter shelters each year but only 3.2 million are adopted. Also, approximately 85 million families are pet owners. Europe and Asia Pacific are projected to demand for Flame Retardant Market, due to the high adoption of companion dogs and high annual expenditure.
The demand for biomarkers in veterinary diagnostics and healthcare, as well as the competitive environment within the industry, affect the veterinary biomarkers market. Preventive and customized treatment techniques are becoming more popular in the veterinary business. Biomarkers help these efforts by allowing for early disease detection, risk assessment, and personalized treatment approaches. The need to maximize animal health outcomes and provide tailored patient care drives the demand for biomarkers. Manufacturers that show compliance and maintain high-quality standards have a competitive edge in terms of product acceptance and market credibility. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new product launches, distribution network development, R&D spending, and mergers and acquisitions. For Example, Zoetis has launched Vetscan Mastigram, a rapid on-farm mastitis diagnostic. It uses a simple flow dipstick test to detect Gram-positive mastitis in just eight hours, enabling results before the next milking.
In June 2022, Zoetis Inc. nowadays announced an agreement to acquire Base Paws, a privately held pet care genetics company, which provides pet owners with genetic tests, analytics, and early health risk assessments that can help manage the health, wellness, and quality of care for their pets. The acquisition will advance Zoetis' portfolio in the precision animal health space and will inform and shape its future pipeline of pet care innovations. Financial terms of the agreement are not being disclosed.