Years considered for this report:
# 2016 – Base Year
# 2017 – Estimated Year
# 2022 – Projected Year
The poultry diagnostics market is expected to reach USD 495.3 Million by 2022 from an estimated USD 300.6 Million in 2017, at a CAGR of 10.5%.
The growth of the market during the forecast period is mainly driven by the increase in the avian diseases outbreak and zoonotic diseases, increasing adoption of vaccinations, diagnostic monitoring of birds for the presence of disease pathogens, and the rising consumer concerns regarding food safety. However, high cost of production, lack of animal healthcare awareness, and trade disputes such as import bans are expected to restrain the overall market growth, to a certain extent, during the forecast period.
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Key Market Growth Restraint:
# High Poultry Production Costs
Key Market Opportunity:
# Untapped Emerging Markets
Key Challenge:
# Lack of Animal Health Awareness in Emerging Markets
Industry Trends:
# Outsourcing Diagnostic Testing Services to Reference Labs
# Rising Number of Research Collaborations
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.
Target Audience:
# Veterinary diagnostics manufacturers
# Veterinary diagnostics distributors
# Animal health research and development (R&D;) companies
# Veterinary reference laboratories
# Government associations
# Market research and consulting firms
# Venture capitalists and investors
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Some of the prominent players in the poultry diagnostics 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).
The global poultry diagnostics market is consolidated in nature with the top five players accounting for nearly 65%-70% of the market share in 2016. However, there are numerous small players in the market operating at the regional level.
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