December 8, 2024

Growing Demand for Poultry Meat to Boost the Growth of the Global Poultry Diagnostics Market

The global Poultry Diagnostics Market is estimated to be valued at US$ 536.7 Mn 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.

Market Overview:
Poultry diagnostics refers to tests conducted on poultry flocks to detect various infectious diseases. These tests help in maintaining good health of poultry and control spread of infectious diseases. Rapid diagnosis of diseases helps poultry farmers in timely treatment and disease control, thereby reducing economic losses. Major poultry diagnostic tests include ELISA, PCR, and other immunodiagnostic tests that help in timely detection of diseases like avian influenza, Newcastle disease, and infectious bronchitis. Growing meat consumption worldwide is augmenting demand for poultry meat, which is fuelling diagnostic testing of poultry flocks.

Market key trends:
Growing global meat consumption, especially poultry meat is one of the key trends fuelling growth of this market. According to data from United States Department of Agriculture, global meat consumption has increased from 228 million tons in 2000 to 328 million tons in 2018, reflecting a growth of around 44%. Among meat categories, poultry meat consumption is growing at the fastest pace. This is augmenting demand for poultry diagnostics to ensure good health of birds, thereby increasing meat production. Technological advancements in detection kits is another trend. Key players are focusing on development and introduction of portable and microfluidic-based immunodiagnostic test kits that provide accurate and rapid results. This is increasing adoption of diagnostic tests among small farmers.
Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as the poultry diagnostics market requires high investment and R&D for developing new tests and solutions.

Bargaining power of buyers: The bargaining power of buyers is high due to the presence of multiple diagnostic solution providers in the market.

Bargaining power of suppliers: The bargaining power of suppliers is low as raw materials used in developing diagnostic tests are widely available.

Threat of new substitutes: The threat of new substitutes is low as there are no major alternative options available for poultry disease diagnosis.

Competitive rivalry: The competitive rivalry is high due to the presence of several global players operating in the market.

Key Takeaways

The global poultry diagnostics market is expected to witness high growth, exhibiting CAGR of 11.% over the forecast period, due to increasing meat consumption globally and rising awareness regarding zoonotic diseases.

Regionally, North America dominated the global poultry diagnostics market in 2023 and is expected to maintain its dominance over the forecast period, owing to high availability of diagnostics assays and tests. Asia Pacific is anticipated to witness fastest growth during the analysis period, supported by rising poultry production in China and India.

Key players operating in the poultry diagnostics market include 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. Key players are focusing on new product launches and strategic collaborations with regional players to strengthen their market position.

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

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