London, March 16, 2020 (GLOBE NEWSWIRE) -- According to a new market research report “Livestock Diagnostics Market by Product (Consumables, Systems, Software), Technology (Immunodiagnostics, Molecular Diagnostics), Animal Type (Ruminants, Poultry, Swine), End User (Reference Lab, Veterinary Hospital and Clinic, POC) - Forecast to 2027”, published by Meticulous Research®, the livestock diagnostics market is expected to grow at a CAGR of 7.8% from 2019 to 2027 to reach $1.85 billion by 2027.
Livestock diagnostics is an essential tool which confirms the health status of livestock animals and enable pathogen identification. They also aid in the early detection, management, and control of livestock diseases including zoonosis. This further helps in to facilitate safe trade in animals and animal products. The increasing prevalence of various food borne and zoonotic diseases, rising demand for livestock derived food products, favorable government initiatives, and technological advancements in veterinary diagnostics are the key factors driving steady growth in the global livestock diagnostics market.
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Livestock diagnosis has emerged as an essential part of disease management and prevention. The prevention, control, and eradication of diseases of economically important animals are the leading agricultural concerns. Therefore, governments across the globe are heavily focusing on increasing the awareness about the production losses caused due to infectious diseases in livestock by undertaking initiatives related to diagnosis of infections in livestock animals. For instance, in April 2019, the British Horse Society (BHS) and the University of Nottingham launched the Colic Awareness Week to increase the awareness of the importance of recognizing the earlier signs of colic. This would help enable quick veterinary assistance, diagnosis, and treatment for this fatal condition in horses. Moreover, in May 2018, UN Food and Agriculture Organization (FAO) began its livestock vaccination campaign in South Sudan in order to protect over 9 million animals and to combat increasingly frequent outbreaks of diseases. Such initiatives help to educate decision makers, regulatory agencies, reference laboratories and other end-users regarding the importance of the livestock diagnosis.
The livestock diagnostics market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2027 – by product, technology, animal type, end-user, and geography. The study also evaluates industry competitors and analyzes their market share at the global and regional level.
On the basis of product, the livestock diagnostic consumables segment accounted for the largest share of the overall livestock diagnostics market in 2019 and also register the highest growth during 2019-2027. The fact that they are frequently used, their expenses are recurrent in nature, and commercial availability of diverse range of reagents and consumables for various diseases is supporting the growth of this market segment.
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On the basis of technology, ELISA technology-based diagnostic tests accounted for the largest share of the overall livestock diagnostics market in 2019. This segment is projected to grow at the highest CAGR among the other technologies. Factors such as continuous development of new biomarkers, cost benefits, and growing adoption of automated platforms for ELISA are expected to boost the growth of this market segment.
Based on the animal type, ruminants accounted for the largest share of the overall livestock diagnostics market in 2019 owing to the availability of wide number of commercialized diagnostic products for all types of ruminants, and initiatives and schemes undertaken by the governments for improving the health of these animals. Moreover, growing demand for animal-derived food products and increased awareness regarding various zoonotic diseases will further propel the growth of the diagnostic modalities used for the diagnosis of ruminants’ diseases and health screening.
The report also includes extensive assessment of the product portfolio, financials, and key strategic developments adopted by leading market participants in the industry over the past 4 years (2016-2019). The livestock diagnostics market has witnessed number of new product launches and approvals by regulatory authorities in the recent years. For instance, in August 2019, Zoetis Inc. (U.S.) launched the Stablelab hand-held, point-of-care diagnostic blood test to provide information related to equine inflammation within 10 minutes. The Stablelab hand-held reader detects and quantifies the biomarker Serum Amyloid A which will help the veterinarians to assess the severity of an infection sooner. Similarly, in January 2017, Thermo Fisher Scientific Inc. (U.S.) received Veterinary Biological Product License by the United States Department of Agriculture (USDA) for its Applied Biosystems VetMAX-Gold MAP Detection Kit.
The global livestock diagnostics market is highly fragmented with the presence of key players, such as, IDEXX Laboratories, Inc. (U.S.), Zoetis Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), bioMérieux S.A. (France), Qiagen N.V. (Netherlands), Agrolabo Spa (Italy), Neogen Corporation (U.S.), IDvet (France), and GD Animal Health (Netherlands) among others.
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Scope of the Report:
Livestock Diagnostics Market, by Product Type
- Consumables
- Consumables Market, By Diseases
- Bovine Viral Diarrhea (BVD)
- Influenza
- Foot and Mouth Diseases (FMD)
- Other Diseases
- Consumables Market, By Diseases
- Systems
- Software
Livestock Diagnostics Market, by Technology
- Immunodiagnostics
- ELISA (Enzyme-Linked Immunosorbent Assay) Tests
- Other Immunodiagnostic Tests
- Molecular Diagnostics
- Polymerase Chain Reaction Tests
- Other Molecular Diagnostic Tests
- Other Technologies
(Other technologies include agar gel immunodiffusion, hemagglutination inhibition, rapid immuno migration tests)
Livestock Diagnostics Market, by Animal Type
- Ruminants
- Swine
- Poultry
- Other Animals
(Other animals include equine and fishes.)
Livestock Diagnostics Market, by End Users
- Reference Laboratories
- Veterinary Hospitals & Clinics
- Research & Academic Institutes
- Point-Of-Care/In-House Testing
Livestock Diagnostics Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Japan
- China
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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Related Report:
Veterinary Immunodiagnostics Market Size by Product (Analysers, Consumables), by technology (ELISA, Radioimmunoassay, Rapid tests, and others), by animal type [Livestock (Cattle, Pigs, Poultry) and Companion (Feline, Canine, Equine)], by application (Infectious diseases, autoimmune disorder, endocrinology & oncology, and bone & mineral diseases), and by End-user - Global Forecasts to 2022, read report: https://www.meticulousresearch.com/product/veterinary-immunodiagnostics-market-size-2022/
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