Factors Influencing the Global Industry Growth:
The majority of the demand for testing kits such as ELISA and PCR tests is driven by the increase in disease outbreaks in poultry, rising prevalence of zoonotic diseases, and growing demand for poultry-derived food products. In addition, the diagnostic monitoring of bacterial avian disease on a regular basis in regions like Europe is further driving the overall growth of the market.
Key Market Restraint:
# High Poultry Production Costs
Key Market Opportunity:
# Untapped Emerging Markets
Key Challenge:
# Lack of Animal Health Awareness in Emerging Markets
Global Industry Trends:
# Outsourcing Diagnostic Testing Services to Reference Labs
# Rising Number of Research Collaborations
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This is How Much the Revenue the Global Market is Expected to Generate:
The poultry diagnostics market is expected to reach USD 495.3 Million by 2022 from an estimated USD 300.6 Million in 2017, at a CAGR of 10.5%.
Global Industry Segmentation:
On the basis of product, the market has been further segmented by test type and disease type. The test type segment accounted for the largest share of the market in 2016. It is also expected to grow at the highest CAGR during the forecast period.
By service, the market is segmented by bacteriology, virology, and parasitology. The bacteriology service segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the regular bacterial testing on poultry undertaken by regions like Europe and Asia-Pacific to detect and prevent the spread of zoonotic diseases like salmonellosis, pasteurellosis, and mycoplasmosis.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is expected to witness the highest growth during the forecast period. Growth in this region can be attributed to the large livestock population in this region, growing demand of poultry-derived food products, increasing awareness about animal health, and growing per capita animal health expenditure, especially in India and China.
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https://www.marketsandmarkets.com/PressReleases/poultry-diagnostics.asp
The major players in the market are IDEXX Laboratories, Inc. (U.S.), QIAGEN N.V. (Netherlands), Thermo Fisher Scientific Inc. (U.S.), Zoetis, Inc. (U.S.), GD Animal Health (Netherlands), IDvet (France), AffiniTech, LTD. (U.S.), AgroBioTek Internacional (Honduras), BioNote, Inc. (South Korea), BioChek (Netherlands), Boehringer Ingelheim (Germany), MEGACOR Diagnostik GmbH (Germany), and BioinGentech Biotechnologies, Inc. (Chile).
Target Audience:
# Veterinary diagnostics manufacturers
# Veterinary diagnostics distributors
# Animal health research and development (R&D;) companies
# Veterinary reference laboratories
# Government associations
# Market research and consulting firms
# Venture capitalists and investors
