Global Poultry Diagnostics Market Is Estimated To Witness High Growth Owing To Zoetis and Thermo Fisher Scientific Inc.
The global Poultry Diagnostics market is estimated to be valued at US$ 536.7 million in 2023 and is expected to exhibit a CAGR of 11.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Poultry Diagnostics market involves the diagnosis and monitoring of diseases specifically in poultry, such as chickens, ducks, turkeys, and geese. This market offers a range of diagnostic tests, including PCR (polymerase chain reaction), ELISA (enzyme-linked immunosorbent assay), serology, hematology, and others. These diagnostic tests help in early detection and prevention of diseases that can potentially lead to a decrease in poultry production. The market has seen increased demand due to the rising need for food safety and the increasing occurrence of poultry diseases.
Market Dynamics:
1. Driver: Increasing demand for food safety
With the increasing global population and changing dietary preferences, there is a growing demand for safe and high-quality food products. Poultry meat and eggs are an important source of protein for many consumers. To ensure food safety, poultry farmers and producers are adopting diagnostic tests to detect and prevent diseases in poultry, which can potentially be transmitted to humans through consumption. These diagnostic tests help in maintaining the quality of poultry products and ensuring food safety.
2. Driver: Rising occurrence of poultry diseases
Poultry diseases, such as avian influenza, Newcastle disease, and others, can have a significant impact on the poultry industry. These diseases lead to a decrease in poultry production, causing financial losses for farmers and producers. Diagnostic tests play a crucial role in the early detection and prevention of these diseases. With the increasing occurrence of poultry diseases globally, the demand for poultry diagnostic tests is expected to rise significantly.
SWOT Analysis:
Strengths:
1. Technological advancements in diagnostic techniques
2. Growing investments in research and development
Weaknesses:
1. Lack of awareness about poultry diagnostics in some regions
2. High cost associated with diagnostic tests
Opportunities:
1. Increasing government initiatives for poultry health management
2. Growing demand for poultry products in emerging economies
Threats:
1. Stringent regulations for product approval
2. Competition from alternative meat products
Key Takeaways:
Paragraph 1: The Global Poultry Diagnostics Market Demand is expected to witness high growth, exhibiting a CAGR of 11.4% over the forecast period, due to increasing demand for food safety and the rising occurrence of poultry diseases.
Paragraph 2: Regional analysis reveals that North America is expected to dominate the poultry diagnostics market, followed by Europe. The Asia Pacific region is anticipated to be the fastest-growing market, driven by increasing poultry production and rising awareness about food safety.
Paragraph 3: Key players operating in the global 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. These players are focused on strategic collaborations, mergers and acquisitions, and product innovations to gain a competitive edge in the market.
English
Arabic
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian