Currently, the widely used diagnostics and monitoring of chronic and infectious diseases in animals and humans is mainly based on the detection of an antibody to the pathogen of interest. Current immunoassays were developed in the early 1980’s and account for over 100 million human tests per year in the human diagnostics industry.
This approach is evolving toward the measurement of the reaction of the host to the disease challenge. The global molecular diagnostics market can be linked to the increasing need for analyzing nucleic acids or proteins at the molecular level. This need primarily arises due to the growing prevalence of several complicated and chronic diseases. CNAD’s new diagnostics platform identifies circulating nucleic acids in the serum of diseased humans, livestock and companion animals that reflects the homeostatic state of the producing cell of the host be it human or animal.
This diagnostic platform can be used for the early identification of disease states, ideally before clinical signs emerge or before immunoassays typically can detect, established disease. CNAD is at the forefront of developing this diagnostic technology that at last will provide definitive answers to the existence of a disease state.
The in vitro diagnostics market is expected to reach $81.3 Billion, by 2022, registering a CAGR of 4.9% during the forecast period 2016-2022. In vitro diagnostics (IVD) is the technique in which medical devices and reagents are used to examine specimens such as blood, urine, stool, tissues and other body fluids, which are derived from the human body to detect diseases, conditions and infections.
The growing need of molecular testing arises due to increasing incidences of chronic and infectious diseases and a growing geriatric population prone to immunological disorders. Moreover, increased application of personalized medicines and widespread knowledge of rare diseases are boosting the growth of this market.
The global molecular diagnostics is the market where CNAD is positioned and is expected to witness attractive growth with a CAGR of around 12.0% till 2024. Molecular diagnostics are highly effective in diagnosing infectious diseases and performing preventive cancer screening thus helping healthcare professionals to prescribe accurate therapeutic interventions in the early stages of diseases. Increasing prevalence of hospital acquired infections and other communicable infections are anticipated to drive the sector expansion over the forecast period. The steadily growing adoption of molecular diagnostics is anticipated to enhance the acceptance level of personalized molecular medicine over the forecast period.
The veterinary diagnostics market witnessed healthy growth during the last decade and is expected to grow at a CAGR of 8.6% between 2016 and 2021 to reach $6.71 Billion by 2021. The growth in this market is majorly attributed to factors such as rising animal healthcare expenditure, rising pet adoption, growing demand for animal-derived food products, increasing number of veterinary practitioners and their growing income levels in developed regions, increasing demand for pet insurance, and rising awareness about zoonotic diseases.
The global veterinary diagnostics market is segmented based on product, technology, animal, and geography. Based on product type, the market is segmented into consumables, instruments, and services. Based on technology, the market is segmented into diagnostic imaging, clinical chemistry, immunodiagnostics, hematology, and molecular diagnostics. The livestock food-producing animals segment is further segmented into cattle, pigs, sheep and goats, poultry, and other food-producing animals. On the basis of end-users, the global veterinary diagnostics market is segmented into reference laboratories, veterinary hospitals and clinics, point-of-care testing/ in-house testing, and research institutes. Similarly, on the basis of geography, the veterinary diagnostics market is segmented into Europe, North America, Asia-Pacific, and Rest of the World.
North America is the largest regional segment for veterinary diagnostics owing to the well-established animal healthcare market. The largest share of this regional segment is driven by increasing demand for animal-derived food products, rising companion animal healthcare expenditure, growing number of veterinary practitioners and their income levels, and rising awareness about zoonotic diseases.
The companion animal diagnostics market is expected to reach $1.842 billion by 2022 growing at a CAGR of 8.84%. The global companion animal diagnostics market is mainly driven by factors such as increasing expenditure on animal healthcare, rising demand for pet insurance, rising pet adoption in emerging nations, growing income levels in developed regions and rising awareness about zoonotic diseases.
Among companion animal type, dogs accounted for approximately 70% of the overall market share, whereas cats are expected to witness a high growth rate for the future. Various types of diseases in companion animals and their transfer to humans via companionship are escalating the market globally. Growing incidence of zoonotic and food borne diseases will be a potential concern to the health of pet animals raising demand for improved diagnostics.
Based on geography, the companion animal health care market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. North America accounts for the largest share in the market due to growing expenditure on pet nutrition and health care.