May 29, 2024

Poultry Diagnostics Market High Growth Opportunities, Emerging Trends, Industry Review, Forecast Till 2031

The poultry diagnostics market deals with diagnostic testing for poultry diseases such as avian influenza, Newcastle disease and others. Poultry diagnostics tests helps in disease diagnosis, food safety testing and monitoring vaccine response in poultry animals. Common diagnostic tests include ELISA, PCR, lateral flow tests and others. The tests are conducted to ensure poultry health and food safety. Rise in poultry farming has led to increased risk of disease spread which is driving demand for effective diagnostic tools in the industry.

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% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/poultry-diagnostics-market-5762

Market key trends:

One of the major trends in the poultry diagnostics market is the shift towards rapid tests. Factors such as need for early and quick diagnosis, screening of large number of samples and lab-capacity constraints are driving demand for point-of-care rapid tests. Rapid tests such as lateral flow assays provide results within 30 minutes, allowing timely treatment interventions. Leading manufacturers are focusing on developing rapid tests equipped with advanced features. For instance, Thermo Fisher Scientific offers rapid antigen test kits for avian influenza which provide results within 10-15 minutes. Similarly, BioChek developed a lateral flow test for avian influenza virus subtype H5 detection with 8 minutes result time. Rapid tests are convenient and affordable screening option helping market gain significant adoption.

Porter’s Analysis

Threat of new entrants: The poultry diagnostic market has moderate threat from new entrants due to presence of established players who have secured their supply chain and distribution channel. However, risks from entry of new players offering innovative products at competitive prices exist.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and presence of several vendors providing poultry diagnostic services.
Bargaining power of suppliers: Diagnostic kit manufacturers and research institutes have low to moderate bargaining power due to presence of several substitutes and dominance of few diagnostic companies.
Threat of new substitutes: Threat from substitutes is low as poultry diagnostics play a critical role in monitoring animal health.
Competitive rivalry: The global poultry diagnostic market is highly competitive due to presence of many global and regional diagnostic companies.

Key Takeaways

The global poultry diagnostics market is expected to witness high growth. 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% over the forecast period 2023 to 2030.
Regional analysis related content comprises Regional analysis related content North America dominates the global poultry diagnostics market owing to presence of major players in countries like US and Canada. Asia Pacific region is expected to witness fastest growth during the forecast period due to growing poultry industry and increasing animal health awareness in emerging economies like India and China.

Key players related content comprises Key players operating in the poultry diagnostics market are IDEXX Laboratories, Zoetis, Thermo Fisher Scientific, bioMérieux, Qiagen, IDvet, BioChek, and BioNote Inc. Key players are focusing on new product launches, collaborations and geographic expansions to strengthen their position in the global market. For instance, in 2022, IDEXX Laboratories launched Procyte One Hematology Analyzer designed for veterinary point-of-care testing.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it