Dublin, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The "Bovine Tuberculosis Diagnosis Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global bovine tuberculosis diagnosis market is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.2% over the forecast period. However, the COVID-19 pandemic had a significant impact on the market, with lockdowns and limited access to veterinary facilities leading to a decline in growth. Despite this, government initiatives and market players' efforts to continue eradication programs during the pandemic have been observed.
Market Drivers
Factors driving the growth of the bovine tuberculosis diagnosis market include the increasing cattle population, rising consumption of animal products, prevalence of zoonotic diseases, and supportive regulations and programs implemented by governments. For example, the United Kingdom's Department of Environment, Food, and Rural Affairs launched a proposal to eradicate bovine tuberculosis in England through strategic priorities for agriculture, food and drink industry, and animal and plant health.
Molecular Diagnostic Tests Segment Growth
The molecular diagnostic tests segment is expected to witness significant growth due to advantages such as faster turnaround times and broader applications compared to traditional culture methods. Technological advancements and product launches, such as automated molecular diagnostic machines, are contributing to this segment's expansion.
North America Dominates the Market
North America holds a notable share of the bovine tuberculosis diagnosis market, driven by the presence of key players, research activity, veterinary care costs, and initiatives like the National Tuberculosis Eradication Program. Strategic efforts by government and private companies and increasing research and development activities are boosting growth in this region.
Competitive Landscape
The market is moderately competitive, with leading players employing various strategies such as competitive pricing, partnerships, product expansion, sales and marketing initiatives, and mergers and acquisitions. Key players in the market include IDEXX laboratories, PDB Biotech Ltd., Zoetis, IDVET, Thermo Fisher Scientific Inc., Abbott Laboratories, Enfer Group, Asurequality Australia Pty Ltd, Bio-Rad Laboratories Inc., and Bionote.
Overall, the bovine tuberculosis diagnosis market is expected to witness growth over the forecast period, driven by the increasing demand for diagnostic solutions, supportive government regulations, and advancements in molecular diagnostic technologies.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Cattle Population Coupled with Increasing Consumption of Animal Products
4.2.2 Increasing Prevalence of Zoonotic Diseases
4.2.3 Supportive Regulations and Programs Implemented by Governments
4.3 Market Restraints
4.3.1 Restricted Access to Veterinary Services.
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Test Type
5.1.1 Serological Tests
5.1.2 Molecular Diagnostic Tests
5.1.3 Traditional Tests
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Middle-East and Africa
5.2.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IDEXX Laboratories
6.1.2 PBD Biotech Ltd
6.1.3 Zoetis
6.1.4 IDvet
6.1.5 Thermo Fisher Scientific Inc
6.1.6 Abbott Laboratories
6.1.7 Enfer Group
6.1.8 AsureQuality Australia Pty Ltd
6.1.9 Bio-Rad Laboratories Inc
6.1.10 Bionote
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/dcjfoe
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Attachments
- Bovine Tuberculosis Diagnosis Market Regional Estimates Of T B Mortality In Thousands Global 2020
- Bovine Tuberculosis Diagnosis Market Bovine Tuberculosis Diagnosis Market Growth Rate By Region
