Poultry Diagnostics market is expected to reach USD 495.3 million by 2022
NEW YORK, May 31, 2017 /PRNewswire/ --
Highlights
- The global poultry diagnostics market is estimated to grow at a CAGR of 10.5%, to reach USD 495.3 million by 2022 from USD 300.6 million in 2017.
- 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 this report, the poultry diagnostics market is segmented on the basis of product, service, and region.
- It is also expected to grow at the highest CAGR during the forecast period.
- The disease type is also expected to register the fastest growth in the poultry diagnostics market during the forecast period.
- 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.
The global poultry diagnostics market is estimated to grow at a CAGR of 10.5%, to reach USD 495.3 million by 2022 from USD 300.6 million in 2017. 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, growing concerns regarding food security in the Asia-Pacific and African regions are further driving the overall growth of the market.
In this report, the poultry diagnostics market is segmented on the basis of product, service, and region. 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. This can be attributed to the wide use of ELISA tests for preliminary screening of all avian diseases coupled with their high sensitivity, specificity, and cost-effective nature. These tests are the most preferred for fast and accurate results. The disease type is also expected to register the fastest growth in the poultry diagnostics market during the forecast period. This is due to the recent surge in avian influenza outbreaks in countries like the U.S., Canada, and China. This has led to the adoption of various test kits to detect and combat its spread.
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. The increasing outbreak of avian influenza and Newcastle disease in this region is aiding market growth. In addition, emerging markets, especially Brazil and China, offer significant growth opportunities for players in the poultry diagnostics market due to their large export business.
Some of the prominent 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).
Research Coverage:
The focus of this report is on providing quantitative information for clients seeking market size information on various segments of the poultry diagnostics market. It provides the current and forecast assessment of the global poultry diagnostics market. The poultry diagnostics market is segmented on the basis of product (test type and disease type), service, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner a greater share. Firms purchasing the report could use any one or combination of the below-mentioned five strategies for increasing their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the poultry diagnostics market. The report analyses the poultry diagnostics market by test type, disease type, service, and region
- Product Development/Innovation: Detailed insights on the upcoming trends, research and development activities, and product launches in the poultry diagnostics market
- Market Development: Comprehensive information about lucrative emerging markets by product and region
- Market Diversification: Exhaustive information about new products, growing geographies, recent developments, and investments in the poultry diagnostics market
- Competitive Assessment: In-depth assessment of growth strategies, products, and manufacturing capabilities of leading players in the poultry diagnostics market
Read the full report: http://www.reportlinker.com/p04898224/Poultry-Diagnostics-Market-by-Test-Disease-Service-Global-Forecast-to.html
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