Poultry Diagnostics Market Size to Surpass USD 1,752.4 - GlobeNewswire

Pune,India, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The global poultry diagnostics market size was valued at USD 872.3 million in 2022 and it is projected to grow from USD 920.4 million in 2023 to USD 1,752.4 million by 2030, exhibiting a CAGR of 9.6% during the forecast period. The strategic initiatives by the market players to increase their product awareness and adoption rate contribute to the global poultry diagnostics market growth.

Poultry diagnostics tests detect various poultry diseases such as Newcastle disease, chicken anaemia, avian reovirus, infectious bronchitis, mycoplasmosis, colibacillosis, and avian influenza. The growing prevalence of poultry diseases propels the demand for poultry diagnostic products worldwide. The rising demand for poultry-derived products increases the need for better poultry health.

Fortune Business Insights™ mentioned this in a report titled "Poultry Diagnostics Market, 2023-2030."

Key Industry Development:

April 2022 – Thermo Fisher Scientific Inc. extended support by offering its bird screening products for avian influenza to poultry operators. 

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Key Takeaways:

• The poultry diagnostics market is growing rapidly, and it is expected to continue to grow in the coming years.
• The growth of the poultry diagnostics market is being driven by the increasing demand for poultry products, the rising prevalence of poultry diseases, and the technological advancements in poultry diagnostics.
• The poultry diagnostics market is segmented by product, test type, and application.
• The key players in the poultry diagnostics market are IDEXX Laboratories, Thermo Fisher Scientific, Zoetis, Neogen Corporation, and QIAGEN.

Discover the Leading Players Featured in the Report:

Major players in the poultry diagnostics market are IDEXX LABORATORIES, INC. (U.S.), Zoetis Services LLC (U.S.), Vimian (Sweden), Thermo Fisher Scientific Inc. (U.S.), GD (The Netherlands), BioChek (The Netherlands), BIONOTE (Korea), Innovative Diagnostics (France), MEGACOR Diagnostik GmbH (Austria).

Report Scope:

Report Coverage	Details
Forecast Period	2023 to 2030
Forecast Period 2023 to 2030 CAGR	9.6%
2030 Value Projection	USD 1,752.4 Million
Base Year	2022
Market Size in 2022	USD 872.3 Million
Historical Data for	2019 to 2021
No. of Pages	146

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Drivers & Restraints-

Rising Poultry Health Initiatives by Government to Aid Market Growth

The rising initiatives by several government authorities to increase awareness related to poultry disease diagnosis to improve poultry health are aiding the poultry diagnostics market growth during the forecast period. The government initiatives include disease surveillance programs, schemes, introducing programs, and policies to raise awareness regarding poultry diseases. Several poultry clinics have partnered with research institutes to educate poultry farmers about poultry diagnostics importance.

The lack of awareness regarding government veterinary services and free vaccination programs to maintain poultry health may hamper the market growth during the forecast period.

Segments-

Increasing Globally Consumption of Diagnostic Kits to Boost Market Growth

Based on product, the market is segmented into instruments and consumables & kits. The consumables & kits segment has dominated the market in 2022 due to the rising demand and need for rapid diagnostics kits to treat worldwide poultry diseases.

Increasing Availability and Accessibility of ELISA to Drive Segment Growth

By technology, the market is segmented into Enzyme-Linked Immunosorbent Assay (ELISA), Polymerase Chain Reaction (PCR), immunofluorescent assay, hemagglutination assay, and others. The Enzyme-Linked Immunosorbent Assay (ELISA) segment dominated the market in 2022. The growth is attributed to the rising accessibility and availability of ELISA technology worldwide due to the wide range of ELISA test products.

Rising Avian Influenza Disease Cases Globally to Propel Market Growth

By disease indication, the market is divided into avian salmonellosis, avian influenza, Newcastle disease, mycoplasma, infectious bursal diseases, and others. The avian influenza segment is estimated to hold the largest market share and dominate the market in 2022. The growth of the segment is attributed to the surging avian influenza outbreaks among the poultry population.

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Rising Veterinary Diagnostics Laboratories' Preference in Developed Countries to Boost Segment Growth

Based on end-user, the market is classified into veterinary hospitals & clinics, veterinary diagnostics laboratories, and others. The segment of veterinary diagnostics laboratories led the market share in 2022 due to the rising number of laboratories in developed countries worldwide.

Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

By Product

• Instruments
• Consumables & Kits

By Technology

• Enzyme-linked Immunosorbent Assay (ELISA)
• Polymerase Chain Reaction (PCR)
• Immunofluorescent Assay
• Hemagglutination Assay
• Others

By Disease Indication

• Avian Salmonellosis
• Avian Influenza
• Newcastle Disease
• Mycoplasma
• Infectious Bursal Disease
• Others

By End-user

• Veterinary Hospitals & Clinics
• Veterinary Diagnostics Laboratories
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Regional Insights-

Rising Accessibility of Key Market Players' Offering to Drive Market Growth in North America

The North American market value stood at USD 460.6 million in 2022 and is estimated to hold the highest poultry diagnostics market share during the forecast period. The growth is attributed to market players focused on receiving research grants from public or private organizations to expand their offerings.

Asia Pacific market will grow at the highest CAGR during the forecast period due to the rising demand for poultry products to prevent and control the rising poultry diseases across the region.

Competitive Landscape-

Rising Key Players Focus on Acquisitions and Mergers to Drive Market Growth

Several major market players are actively focusing on strategic mergers and acquisitions to strengthen their portfolio in veterinary care boosting the market during the forecast period. Zoetis Services LLC is anticipated to hold a significant market share during the forecast period. The dominance is attributed to the company's single product, which can be used to diagnose multiple poultry diseases.

FAQ's

How Big Is The Poultry Diagnostics Market?

Poultry Diagnostics Market size was USD 872.3 million in 2022.

How Fast The Poultry Diagnostics Is Market Growing?

The Poultry Diagnostics Market will exhibit a CAGR of 9.6% during the forecast period, 2023-2030

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