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Global Veterinary Molecular Diagnostics Market to Reach $769 Million by 2027
In the changed post COVID-19 business landscape, the global market for Veterinary Molecular Diagnostics estimated at US$468.5 Million in the year 2020, is projected to reach a revised size of US$769 Million by 2027, growing at a CAGR of 7.3% over the analysis period 2020-2027. Instruments & Software, one of the segments analyzed in the report, is projected to record a 7.2% CAGR and reach US$269.3 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Kits & Reagents segment is readjusted to a revised 8.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $126.7 Million, While China is Forecast to Grow at 11.1% CAGR
The Veterinary Molecular Diagnostics market in the U.S. is estimated at US$126.7 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$170 Million by the year 2027 trailing a CAGR of 11.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 6.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$105.8 Million by the year 2027.


Services Segment to Record 6.2% CAGR
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 6.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$87 Million in the year 2020 will reach a projected size of US$128 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 7.4% CAGR through the analysis period.