REDDING, Calif., June 13, 2024 /PRNewswire/ — Meticulous Research®– a leading global market research company published a research report titled, “Livestock Diagnostics Market Size, Share, Forecast, & Trends Analysis by Product (Consumables {Influenza, BTV, TB, BHV, FMD, PRRS, BVD}, System), Technology (Immunodiagnostics, PCR), Animal (Bovine, Swine, Poultry), End User – Global Forecast to 2031“, published by Meticulous Research®, the livestock diagnostics market is projected to reach $2.56 billion by 2031, at a CAGR of 8.4% from 2024 to 2031.
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Livestock diagnostics play an important role in monitoring the health status of livestock animals and identifying pathogens. It is also used for the early detection, management, and control of livestock diseases, including zoonosis. This process further facilitates the safe trade of animals and animal-derived products. Thus, livestock diagnosis has emerged as an essential part of animal disease management and prevention.
The growth of the livestock diagnostics market is driven by several factors, including the increasing prevalence of various foodborne and zoonotic diseases, rising demand for livestock-derived food products, favorable government initiatives, and technological advancements in veterinary diagnostics. Furthermore, the growth in emerging markets is expected to create opportunities for the market.
The report also includes an extensive assessment of the product portfolio, geographic analysis, and key growth strategies adopted by leading market players in the last three to four years. In recent years, the livestock diagnostics market has witnessed several organic and inorganic strategic developments. The key players profiled in the livestock diagnostics market report are IDEXX Laboratories, Inc. (U.S.), Zoetis Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), bioMérieux S.A. (France), INDICAL BIOSCIENCE GmbH (Germany), Agrolabo SpA (Italy), Neogen Corporation (U.S.), IDvet (France), GD Animal Health (Netherlands), BioChek B.V. (Netherlands), and VMRD, Inc. (U.S.).
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Favorable Government Initiatives
Infectious diseases cause loss of production capacity in animals. Therefore, governments across the globe are heavily focusing on increasing awareness about these diseases by undertaking initiatives related to diagnosis. Also, governments are working with domestic and international partners to promote animal health products. These initiatives help educate decision-makers, regulatory agencies, reference laboratories, and other end-users regarding the importance of veterinary diagnosis.
For instance, in December 2020, the U.S. Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) awarded USD 14.4 million to 76 projects. This funding will help enhance the early detection of animal diseases and improve emergency response capabilities at National Animal Health Laboratory Network (NAHLN) veterinary diagnostic laboratories. The projects focus on improving diagnostic testing for African swine fever, classical swine fever, foot-and-mouth disease, and avian influenza.
Thus, the government initiatives create awareness among the population, animal health workers, and other stakeholders in the livestock industry about the importance of livestock diagnosis, which is expected to drive the growth of the global livestock diagnostics market.
The livestock diagnostics market is segmented by Product (Consumables [Bovine Viral Diarrhea, Influenza {Avian Influenza, Swine Influenza, Other Influenza}, Foot and Mouth Disease (FMD), Bluetongue (BTV), Bovine Tuberculosis (TB), Bovine Herpes Virus (BHV), Porcine Reproductive and Respiratory Syndrome (PRRS), Newcastle Disease, Avian Mycoplasma, Other Diseases], Systems, Software), Technology (Immunodiagnostics [Enzyme-Linked Immunosorbent Assay (ELISA) Tests, Other Immunodiagnostic Tests], Molecular Diagnostics [Polymerase Chain Reaction (PCR) Tests, Other Molecular Diagnostic Tests], Other Technologies), Animal Type (Ruminants [Bovine Animals, Other Ruminants], Swine, Poultry, Other Livestock Animals]), End User (Reference Laboratories, Veterinary Hospitals & Clinics, and POC Testing), and Geography.
Among products, in 2024, the consumables segment is expected to account for the largest share of 66.6% of the livestock diagnostics market. The large share of the segment is attributed to factors such as the commercial availability of a diverse range of reagents and consumables for various diseases & animal health screening, and the availability of diseases-specific test kits and assays. Moreover, the emergence of various POC tests and assays is expected to create significant opportunities in the livestock diagnostic consumables market.
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Among technologies, in 2024, the immunodiagnostics segment is expected to account for the largest share of 53.9% of the livestock diagnostics market. This technique is implemented in diagnostics and quality-control programs as it is rapid, convenient, and an accurate research tool for detecting and quantitating targets. Furthermore, the higher preference for immunodiagnostics tests by veterinary practitioners owing to their high accuracy standards and increasing usage of miniaturized devices contributes to its growth.
Among animal types, in 2024, the swine segment is slated to register the highest CAGR during the forecast period. The fast growth of the market is due to factors such as the increasing demand for pork, rising incidence of swine infections, development of schemes & campaigns for the prevention of zoonotic diseases, and funding for swine research are factors contributing to its growth.
Among end users, in 2024, the reference laboratories segment is estimated to account for the largest share of the livestock diagnostics market. The large share of the segment is attributed to factors such as higher adoption of livestock diagnostic products by reference laboratories and growing R&D activities to impart advancements in the procedures of animal health checkups. Moreover, growing initiatives by vendors in collaboration with reference laboratories for better animal health are expected to boost this market’s growth in the coming years.
However, the point-of-care/in-house testing segment is slated to register the highest CAGR of 9.4% during the forecast period.
Among geographies, in 2024, North America is expected to account for the largest share of 44.1% of the livestock diagnostics market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. However, the Asia-Pacific region is slated to register the highest CAGR of 9.4% of the market during the forecast period. The high growth of the segment is attributed to factors such as a large population of livestock animals, rising incidence of various zoonotic diseases, rising awareness about animal health, and increasing income level, rising awareness programs & initiatives conducted by the government, well-developed healthcare infrastructure, growing threats due to zoonotic disease, and focus on adopting new technologies in animal healthcare.
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Scope of the Report:
Livestock Diagnostics Market—by Product
Livestock Diagnostics Market—by Technology
(Note: Other technologies include microbiology, hematology, urinalysis, clinical biochemistry, histopathology tests, and rapid immune migration tests)
Livestock Diagnostics Market—by Animal Type
(Note: Other animals include equine and fish)
Livestock Diagnostics Market—by End User
Livestock Diagnostics Market—by Geography
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Related Reports:
Infectious Disease Diagnostics Market by Product and Solution (Consumables, System, Software and Services), Technology (Immunodiagnostics, PCR, INAAT), Disease (HIV, HAIS, Influenza), End User (Hospital, Reference Lab, Research) – Global Forecast to 2027
In-vitro Diagnostics Market (IVD Market) by Product & Solution (Consumables, Systems, Software & Services), Technology (ELISA, Rapid Tests, PCR, Microbiology), Application (Infectious Diseases, Oncology), End User (Hospitals, Diagnostic Laboratories) – Forecast to 2027
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SOURCE Meticulous Market Research Pvt. Ltd.
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