The global poultry diagnostics market is projected to reach USD 495.3 Million by 2022 from USD 300.6 Million in 2017, growing at a CAGR of 10.5%.
Significant increase in the avian diseases outbreak and rising incidence of zoonotic diseases, rising consumer focus on food safety along with the increasing animal health awareness, and increasing trade in terms of export within the poultry industry are the major drivers for the growth of the global market for poultry diagnostics. Other factors such as rising demand for poultry-derived food products across geographies and the increasing animal healthcare expenditure in emerging countries are also contributing to the growth of the market. Emerging markets such as China, India, and Brazil offer significant opportunities for the growth of market.
However, lack of awareness regarding animal health in these regions may negatively impact the market growth. The high cost of production, increasing feed costs, and trade disputes in the poultry industry may hinder the growth of this market to a certain extent during the forecast period.
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 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.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Poultry Diagnostics Market, By Test Type
7 Poultry Diagnostics Market, By Disease Type
8 Poultry Diagnostics Market, By Services
9 Poultry Diagnostics Market, By Region
10 Global Market for Poultry Diagnostics: Competitive Landscape