New Delhi: The global poultry diagnostics market is projected to expand at a healthy CAGR of 9% till 2031, surpassing US$ 660 Mn in valuation, reports leading market research and competitive intelligence provider, FACT.MR. Historical data suggests that the market expanded at a CAGR of 8.3% from 2016 to 2020.
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 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 environment and nutritional deficiencies are causing these diseases.
Rising prevalence of these infectious diseases and 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 is supporting the use of diagnostics, as poultry consumption continues growing worldwide.
Key Takeaways from Market Study
By test, ELISA to generate 52% of total market revenue.
Market for poultry diagnostics to grow 1.8X in value by 2031.
U.S. to remain dominant in North American market expanding at 6% CAGR through 2031.
Market for poultry diagnostics in China to surge at CAGR of 12% over analysis period.
Within Europe, market in Germany to expand at a CAGR of 7% over next ten years.
Demand for PCR tests to rise at a CAGR of 8% over the decade.
“Growing incidence of zoonotic diseases and rising awareness of consumers towards safety of poultry products to boost demand for poultry diagnostics over coming years,” says a Senior Research Analyst.
Key Players’ Winning Strategy
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.
These players focus on adopting various strategies to expand their product offerings and strengthen geographic presence. With advancements in technology, new players are expected to enter the market.
In March 2018, in addition to an infectious bronchitis virus RNA sample kit, BioChek confirmed that a Salmonella enteritidis typhoid-Heidelberg NA test kit will be launched.
Zoetis launched new products – “ProFLOK Enzyme Linked Immune-sorbant (ELISA) assay testing kits and Rapid Immunomigration Assay (RIM)”; these products help detect avian influenza antigens.