The primary cause for significant growth in demand for poultry diagnostics is rising outbreaks of poultry diseases worldwide
The global poultry diagnostics market is projected to expand at a healthy CAGR of 9 per cent till 2031, surpassing $660 million in valuation, reports, market research and competitive intelligence provider. Historical data suggests that the market expanded at a CAGR of 8.3 per cent from 2016 to 2020, according to Fact.MR.
The primary cause for significant growth in demand for poultry diagnostics is rising outbreaks of poultry diseases worldwide. These flock infections affect world trade in layers of poultry, broilers, and turkeys. As a result, ongoing efforts are being made to increase awareness among farmers about these diseases. Different bacteria, fungi, viruses, protozoon pathogens, and environmental and nutritional deficiencies are causing these diseases.
The rising prevalence of these infectious diseases and a growing threat of antibiotic-resistant microbes are key factors bolstering demand for poultry diagnostics across the world. Also, concerns of bacterial and viral transmission from birds to human consumers are supporting the use of diagnostics, as poultry consumption continues growing worldwide.
Key takeaways from the market study
· By test, ELISA to generate 52 per cent of total market revenue.
· Market for poultry diagnostics to grow 1.8X in value by 2031.
· The US to remain dominant in the North American market expanding at 6 per cent CAGR through 2031.
· Market for poultry diagnostics in China to surge at a CAGR of 12 per cent over the analysis period.
· Within Europe, the market in Germany to expand at a CAGR of 7 per cent over the next ten years.
· Demand for PCR tests to rise at a CAGR of 8 per cent over the decade.
“Growing incidence of zoonotic diseases and rising awareness of consumers towards the safety of poultry products to boost demand for poultry diagnostics over coming years,” says a senior research analyst.
Prominent players in the industry are QIAGEN, Zoetis, BioChek Smart Veterinary Diagnostics, IDvet, Thermo Fisher Scientific Inc., Bioneer Corporation, MEGACOR Diagnostik GmbH, Biogenetics Biotechnology Company, FinTech, and IDEXX Laboratories, among others.
The players focus on adopting various strategies to expand their product offerings and strengthen their geographic presence. With advancements in technology, new players are expected to enter the market.
