Market leaders are majorly focusing on the product research with an end goal of launching and developing enhanced testing tools for accurate and faster results.
Future Market Insights, Dubai: The global poultry diagnostics market is anticipated to expand robustly over the forecast period, 2020-2030. The global market is majorly fueled by extensive chicken consumption, the subsequent risk of disease spread, and government’s investments towards food security measures. On the other hand, at present the COVID-19 outbreak has limited poultry uptake, which consecutively will negatively impacted short term market expansions.
“Investments by governments and international bodies and increasing concerns for food security for rigorous farming sector will increase poultry cultivation. This will further fortify the poultry diagnostics demand in long-term.,” says an FMI analyst.
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Poultry Diagnostics Market – Key Highlights
- North America to remain lucrative throughout the forecast period due to higher uptake of eggs in the region.
- ELISA system tests will be accounting for majority of market share in the global market.
- Avian influenza will be reflecting higher market share due to widespread incidences in emerging nations.
- Virology services will remain key revenue contributor to the market in the global market.
Poultry Diagnostics Market – Drivers
- Poultry disease outbreaks remains the key aspects accountable for notable market growth.
- Rise of animal health information portals precisely in the well-established economies are propelling market growth.
- Extensive use of ELISA (enzyme-linked immunoassay) tests is majorly contributing to the market revenue.
- Increase in government initiatives to promote animal health products will fuel the overall market expansion.
Poultry Diagnostics Market – Restraints
- Lack of awareness in relation to animal health in emerging regions might adversely impact the market expansion.
- Higher cost of production, trade disputes and increasing feed costs in the poultry sector might impede the market growth.
COVID-19 Impact on the Market
The COVID-19 outbreak adversely impacted the poultry diagnostics market. Although chickens and other poultry birds were not at risk to the virus, the crisis will hurt uptake, logistics, as well as sales of poultry birds. This could be majorly due to stringent regulations on the food service businesses.
However, the market will recover sturdily by 2021, as poultry products demand picks up. Stringent food safety laws as well as concerns over other OVID-19 strains will assist market expansions.
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Key companies operating in the global poultry diagnostics market are Agrobiotek Internacional, Affinitech Ltd., Bionote Inc., BioChek, Boehringer Ingelheim GmbH, Bioingentech Biotechnologies Inc., Idexx Laboratories Inc., GD Animal Health, Megacor Diagnostik GmbH, IDVet, Thermo Fisher Scientific Inc., Qiagen N.V., Zoetis Inc. and Bioneer Corp.
Key companies are adopting strategies such as expansion of product portfolios with increasing investments into research, along with strategic acquisitions and collaborations to consolidate market position.