Livestock Diagnostics Market to Hit US$ 2.36 Billion By 2031 | Growth Plus Reports
Growth Plus Reports
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Growth Plus Reports
Newark, New Castle, USA, May 29, 2023 (GLOBE NEWSWIRE) -- A recent Growth Plus Reports study shows that the livestock diagnostics market was valued at US$ 1.10 billion in 2022. The market will register a CAGR of 8.20% and reach US$ 2.36 billion by 2031. The study examines the important strategies, drivers and prospects, competitive circumstances, shifting market dynamics, market size, data and forecasts, and important investment regions.
Key Takeaways:
The rising prevalence of zoonotic diseases will drive market revenue growth.
Increasing demand for meat and animal-based products will support the market's revenue growth.
North America dominates the global livestock diagnostics market.
Product, Technology, Animal Type, End User, and Region
Regional Scope
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Market Drivers The increased prevalence of zoonotic diseases and diseases spread by meat consumption will drive the market's revenue growth. Furthermore, increasing awareness about animal health and rising government measures will fuel the market's revenue growth. Additionally, increasing research on foodborne and animal-borne diseases will support the growth of the market.
Market Segmentation Growth Plus Reports has analyzed the global livestock diagnostics market from five perspectives: Product, Technology, Animal Type, End User, and Region.
Based on the product, the livestock diagnostics market is segmented into consumables, hardware, and software.
Based on the technology, the livestock diagnostics market is segmented into immunodiagnostics, molecular diagnostics, and other technologies.
The livestock diagnostics market is segmented into ruminants, swine, poultry, and other animals based on the animal type.
Based on the end user, the livestock diagnostics market is segmented into reference laboratories, diagnostic hospitals & clinics, and point-of-care testing.
Animal Type Segmentation
The livestock diagnostics market is segmented into ruminants, swine, poultry, and other animals based on the animal type. Among these animals, the swine segment dominates the market due to the growing demand for pork and the increased prevalence of swine diseases.
Regional Growth Dynamics Based on the region, the global livestock diagnostics market is segmented into North America, Europe, Latin America, and the Middle East & Africa. North America dominates the livestock diagnostics market with the largest revenue share majorly due to the high cost of veterinary healthcare, the availability of medical services, increased attempts to improve animal health, improved pet health awareness, and the high demand for pork.
The top companies in the global livestock diagnostics market are:
IDEXX Laboratories, Inc.
Bio-Rad Laboratories, Inc.
Thermo Fisher Scientific Inc.
Zoetis Inc.
bioMérieux S.A.
Neogen Corporation
INDICAL BIOSCIENCE GmbH
Agrolabo SpA
IDvet
GD Animal Health
BioChek B.V.
VMRD, Inc.
The market for livestock diagnostics is moderately competitive, with several multinational companies involved. Key players emphasize R&D and mergers and acquisitions to increase their market share.
Recent Developments:
The Animal Health System Support for One Health were launched in April 2023 to improve India's preparedness and response to potential animal pandemics using the One Health approach.
The Animal and Plant Health Inspection Service of the United States Department of Agriculture awarded $14.4 million to 76 projects in December 2020.
Table of Content
INTRODUCTION
Market Ecosystem
Timeline Under Consideration
Historical Years – 2021
Base Year – 2022
Forecast Years – 2023 to 2031
Currency Used in the Report
RESEARCH METHODOLOGY
Research Approach
Data Collection Methodology
Data Products
Secondary Sources
Primary Primary
Market Estimation Approach
Bottom Up
Top Down
Market Forecasting Model
Limitations and Assumptions
PREMIUM INSIGHTS
Current Market Trends (COVID-19 Perspective)
Key Players & Competitive Positioning (2022)
MARKET DYNAMICS
Drivers
Restraints/Challenges
Opportunities
GLOBAL LIVESTOCK DIAGNOSTICS MARKET- ANALYSIS & FORECAST, BY PRODUCT
Consumables
Hardware
Software
GLOBAL LIVESTOCK DIAGNOSTICS MARKET- ANALYSIS & FORECAST, BY TECHNOLOGY
Immunodiagnostics
Molecular Diagnostics
Other Technologies
GLOBAL LIVESTOCK DIAGNOSTICS MARKET- ANALYSIS & FORECAST, BY ANIMAL TYPE
Ruminants
Swine
Poultry
Other Animals
GLOBAL LIVESTOCK DIAGNOSTICS MARKET- ANALYSIS & FORECAST, BY END-USER
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