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(IT-NEWSWIRE.COM, January 28, 2020 ) 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%.
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.
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.
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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 poultry diagnostics 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.
By service, the market is segmented by bacteriology, virology, and parasitology. The bacteriology service segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the regular bacterial testing on poultry undertaken by regions like Europe and Asia-Pacific to detect and prevent the spread of zoonotic diseases like salmonellosis, pasteurellosis, and mycoplasmosis.
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.
Some of the prominent players in the poultry diagnostics market are IDEXX Laboratories, Inc. (U.S.), QIAGEN N.V. (Netherlands), Thermo Fisher Scientific Inc. (U.S.), Zoetis, Inc. (U.S.), GD Animal Health (Netherlands), IDVet (France), AffiniTech, LTD. (U.S.), AgroBioTek Internacional (Honduras), BioNote, Inc. (South Korea), BioChek (Netherlands), Boehringer Ingelheim (Germany), MEGACOR Diagnostik GmbH (Germany), and BioinGentech Biotechnologies, Inc. (Chile).
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