Research Methodology Followed for This Study:
This study estimates the Poultry Diagnostic Testing Market size for 2017 and projects its demand till 2022. It also provides a detailed qualitative and quantitative analysis of the market. Various secondary sources such as directories, industry journals, and databases have been used to identify and collect information useful for this extensive commercial study of the global market for poultry diagnostics.
Primary sources such as experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess prospects of the market. All possible factors that affect the market included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was combined and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Expected Revenue Growth:
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%.
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Growth Influencing Factors:
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.
# 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
Geographical Growth Scenario:
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.
Global Key Players:
The global Poultry Diagnostic Testing 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. The major players in the poultry diagnostics market include IDEXX Laboratories, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Zoetis, Inc. (U.S.), QIAGEN N.V. (Netherlands), GD Animal Health (Netherlands), IDvet (France), AffiniTech, LTD. (U.S.), AgroBioTek Internacional (Honduras), and BioChek (Netherlands).
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