NEWARK, Del, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The Global Poultry Diagnostics Market is projected to have a moderate-paced CAGR of 10.5% during the forecast period. The current valuation of the poultry diagnostics market is US$ 590 million in 2023. The value of the poultry diagnostics market is anticipated to reach US$ 1.6 billion, by the year 2033.
Over the foreseeable years, the poultry diagnostics market growth is expected to be influenced by the breakout of poultry diseases and the rising incidences of zoonotic infections. Over the projection period, growth is anticipated to be boosted by the development of animal health information portals, particularly in developed economies. Information created at veterinary hospitals can be uploaded to the internet and shared with other academics and physicians. The incorporation of this service is likely to promote ongoing changes in the pervasiveness of diseases. This enables continuous communication that aids in the owner's memory of preventative diagnosis, routine immunization, the type of vaccinations to be administered, medicine refills, and dietary instructions.
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It is anticipated that throughout the projection period, increasing government measures to promote animal health products may boost market growth overall. The United Nations Department of Economic and Social Affairs estimates that there are currently over 7.3 billion people living in the world, with 9.7 billion people expected to live across the world by the year 2050.
According to the International Fund for Agricultural Development (IFAD), there are around 795 million undernourished or malnourished people in the world. The aforementioned data demonstrate the importance of making significant efforts to ensure a sufficient supply of food by widely utilizing poultry and cattle. It has been noted that the incidence of infectious illnesses is rising, which is prompting an increase in the use of poultry diagnostics over time.
The consumption of meat and eggs is also rising, which is accelerating the segment's rise. For instance, the United States produced 14,639,012 tons of hen eggs in shells in 2015; this number rose to 14,490,724 tons in 2016. Therefore, during the course of the forecast period, it is anticipated that increased production and consumption of goods generated from poultry in the area will fuel market expansion.
Market participants are concentrating on creating better testing instruments and point-of-care (POC) diagnostics for more recent illnesses like mortality syndrome in light of the introduction of enzyme-linked immunosorbent assay (ELISA) tests that have high accuracy and cost efficiency. Additionally, they are making strategic alliances and acquisitions to broaden their competitive environment, which is expected to support the expansion of the poultry diagnostics market size.
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However, the absence of quick test kits for poultry and a lack of experts in developing markets are two things that might restrain the growth of the global poultry diagnostics market. Moreover, the high expenses of producing chicken are probably going to limit the market growth.
Key Takeaways:
Over the forecasted period, the United States is anticipated to hold the dominant share of the global poultry diagnostics market. One factor promoting market development is the availability of several portals that provide information on animal health. These portals may be used by farmers to keep track of vital diagnostic tests, missing vaccinations, nutritional data, and preventative diagnostics.
China and Japan are expected to dominate the Asia Pacific poultry diagnostics market during the projected period. The market is also expanding as a result of more government and animal welfare initiatives in the nations to increase public knowledge of poultry diseases. Additionally, growing avian illnesses and rising zoonotic disease incidences are anticipated to fuel market expansion throughout the course of the research period.
Owing to its link to subclinical infections, decreased egg production, and respiratory diseases, the avian influenza disease is expected to hold the dominant revenue, through the forecast period.
As it can quickly identify contagious illnesses like avian influenza which are common in industrialized nations, the ELISA test type, is the most creative segment for key companies, accounting for a sizable portion.
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Competitive Landscape:
The poultry diagnostics market is distributed globally owing to domestic and foreign competitors. Several companies command substantial market shares in their respective specialty areas. Large businesses often give natural events like product approvals and the rising incidence of zoonotic and poultry illnesses a high priority. These elements are anticipated to propel the global market for poultry diagnostics to grow quickly.
Key Players:
- Agrobiotek Internacional
- Affinitech Ltd.
- Biochek
- Bioingentech Biotechnologies Inc.
- Bionote Inc.
- Boehringer Ingelheim GmbH
- GD Animal Health
- Idexx Laboratories Inc.
- IDVet
- Megacor Diagnostik GmbH
- Qiagen N.V.
- Thermo Fisher Scientific
- Zoetis Inc.
- Bioneer Corporation
Recent Developments:
In March 2018, the introduction of the Infectious Bronchitis Virus RNA Test Kit and the Salmonella Enteritidis-Typhimurium-Heidelberg DNA Test Kit for identification in avian samples was announced by BioChek.
In July 2018, to improve its position in veterinary diagnosis, Zoetis finalized the acquisition of Abaxis, a leader in veterinary point-of-care testing equipment.
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Key Segments Profiled in the Poultry Diagnostics Market Survey
By Test Type:
- ELISA Test
- PCR Test
By Disease:
- Avian Salmonellosis
- Avian Influenza
- Newcastle Disease
- Avian Mycoplasmosis
- Avian Pasteurellosis
- Infectious Bronchitis
- Infectious Bursal Disease
- Avian Encephalomyelitis
- Avian Reovirus
- Chicken Anemia
By Services:
- Bacteriology
- Virology
- Parasitology
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East & Africa
- Europe
Table of Content
1. Executive Summary | Poultry Diagnostics Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
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