The poultry diagnostics market is estimated to be valued at US$ 536.7 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Poultry diagnostics refers to the diagnostic testing of poultry birds like chicken, ducks, geese, turkeys for various infectious and chronic diseases. Rapid diagnostic tests are widely used for screening large number of birds for avian influenza, Newcastle disease and other pathogens. Increase in demand for meat and eggs has led to intensive poultry farming worldwide. This makes birds more susceptible to various infectious diseases, driving demand for poultry diagnostic testing.
Market Dynamics:
The poultry diagnostics market is expected to grow at a significant rate owing to increased disease outbreaks in poultry farms. Intensive farming practices weaken birds’ immunity making them more vulnerable to diseases. Increase in cases of avian influenza, Newcastle disease and salmonellosis are driving demand for effective diagnostics. Growing consumption of poultry meat and eggs has also led to rise in intensive commercial farms globally. This in turn is expected to propel the diagnostics market growth. Rapid diagnostic tests enable timely identification of disease and curb its spread in flocks. Technological advancements in molecular and immunodiagnostic testing have enhanced test accuracy and reduced turnaround time. This is anticipated to boost market expansion over the forecast period.
SWOT Analysis
Strength: The poultry diagnostics market is driven by growth in demand for poultry-derived food products. Rapid and accurate diagnostics help increase efficiency of poultry farming and production. Furthermore, innovating diagnostics tools allow for early disease detection and treatment.
Weakness: High costs associated with development and commercialization of diagnostic tests limit market growth to some extent. Sample collection from birds also poses challenges.
Opportunity: Untapped growth potential in developing regions of Asia Pacific and Latin America offer new revenue streams. Advancements in molecular diagnostics and portable devices widen product offerings.
Threats: Stringent regulations hamper swift product approvals and market access. Outbreaks of infectious diseases negatively impact poultry farming.
Key Takeaways
The global poultry diagnostics market is expected to witness high growth, exhibiting CAGR of 11.% over the forecast period, due to increasing demand for poultry meat and eggs globally. Advancements in disease diagnostics allow for timely treatment and management of flocks.
Regional analysis
North America dominates the global poultry diagnostics market, owing to growth in contract breeding activities and organized farming in the region. However, Asia Pacific exhibits the fastest growth rate owing to rising meat consumption, growing population, and increasing focus on quality meat production in populous nations such as China and India. Countries like Brazil and Argentina also contribute to Latin America being a major market.
Key players related content comprises Key players operating in the poultry diagnostics market are Zoetis, Thermo Fisher Scientific Inc., Baltivet, Bioingentech, Devex, BioChek, QIAGEN, Bioneer Corporation, Megacor Diagnostik GmbH, Merck Co., Inc., IdentiGEN, Abaxis, BIOMERIEUX, Transasia Bio-Medicals, Boehringer Ingelheim International GmbH, EW Group Ltd., and Hygiena, LLC.Leading companies focus on strategic partnerships and new product launches to consolidate their market position.
