Global Poultry Diagnostics Market Is Estimated To Witness High Growth Owing To Zoetis and Thermo Fisher Scientific Inc.
Poultry Diagnostics Market |
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.
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