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Poultry Diagnostics Market is expected to reach US$ 792.70 million by 2030

The global poultry diagnostics market is projected to grow from US$ 362.90 million in 2022 to reach US$ 792.70 million by 2030.

By The Insight Partners

Avian Influenza Segment to Account for Largest Share of Poultry Diagnostics Market During 2022–2030

According to our latest study on Poultry Diagnostics Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Test Type and Disease," the market is expected to grow from US$ 362.90 million in 2022 to US$ 792.70 million by 2030; it is expected to register a CAGR of 10.3% from 2022 to 2030. The report highlights the key factors driving the market growth and prominent players with their developments in the market.

Increasing Organic and Inorganic Strategies by Key Players Provides Lucrative Market Opportunities in Poultry Diagnostics Market

In recent years, changing lifestyle habits and growing geriatric population have propelled the incidence of various types of blood disorders. Thus, there is an increasing demand for early diagnosis and treatment of blood disorders. To enhance the quality of life of people suffering from hemorrhagic disease, key players are taking several initiatives through various organic and inorganic strategies.

  • In May 2023, Idexx Laboratories Inc announced partnership with Haychem with an aim to expand its product offerings in Bangladesh, and increase the reach of its veterinary vaccinations and diagnostics. Haychem specializes in the development, manufacturing, and distribution of veterinary diagnostic products and services.
  • In February 2022, Eurofins Scientific Inc. announced the acquisition of laboratory testing services business of Barrow-Agee Laboratories, LLC. Barrow-Agee Laboratories, LLC. joins a network of laboratories with a diverse team comprising food, feed, and supplement scientists, coming with a broad range of resources, experience, and expertise, allowing customers to bring innovative, sustainable, safe products to the market faster.
  • In March 2020, BioChek, a specialist company offering innovative and user-friendly veterinary diagnostic tools, announced the successful acquisition of BIOTECON. The merger creates a new diagnostic testing solution that mainly targets the markets related to meat, egg, dairy, baby food, etc.

Thus, various organic and inorganic strategies adopted by key market players are anticipated to provide notable opportunities for the growth of the poultry diagnostics market during the forecast period.

Poultry Diagnostics Market, by Region, 2022 (%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00003535

Source: The Insight Partners Analysis

The European poultry diagnostics market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Europe accounts for a significant position in the global poultry diagnostics market. The rising poultry diseases and government initiatives to overcome the situation are the major factors driving the market growth in Europe. The EU implemented extended control programs for zoonotic diseases, keeping Salmonella as a priority. With these programs, the EU intends to provide scientific advice and state limitations associate with the trade of products obtained or prepared from infected flocks. The poultry diagnostics market in Germany is driven by increased R&D activities for the innovation of newer tests, a rise in the prevalence of infectious diseases such as bird flu in poultry, and the adoption of newer tests. Between November 2020 and May 2021, Germany recorded the largest epidemic of HPAI, with 245 outbreaks in poultry and captive birds, and greater than 1,000 cases diagnosed in wild birds. In March 2021, an HPAI outbreak of subtype H5N8 was confirmed in a holding rearing laying hens for sale. The H5N8 virus variant of HPAI was detected at a poultry farm in Lower Saxony, Germany, in 2020.

Thermo Fisher Scientific Inc, Idexx Laboratories Inc, Qiagen NV, Eurofins Scientific SE, IDVET, Boehringer Ingelheim International GmbH, Zoetis Inc, BioCheck BV, Bioneer Corp, and BioInGenTech Biotechnologies are among the leading companies operating in the global poultry diagnostics market.    

Various organic and inorganic strategies are adopted by companies operating in the global poultry diagnostics market. Organic strategies mainly include product launches and product approvals. Further, acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall market growth. Further, acquisition and partnership strategies help them strengthen their customer base and expand their product portfolios.

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