USD 6.61 billion
Livestock Diagnostics Market Size, Share, Growth Analysis, By product type(Ruminants, Swine, Poultry, Other Animals), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2060 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
37
|Figures:
73
Livestock Diagnostics Market Insights
Livestock Diagnostics Market size was valued at USD 6.61 billion in 2019 and is poised to grow from USD 7.2 billion in 2023 to USD 14.36 billion by 2031, growing at a CAGR of 9% in the forecast period (2024-2031).
A crucial instrument, livestock diagnostics basically enable pathogen identification and confirm the health of animals.Typically, they are carried out by analyzing tissue, blood, and feces from livestock, wild animals, and pets as they help in the early detection, management, and control of diseases like zoonosis in a variety of end-user industries like reference labs, veterinary hospitals, and private outpatient clinics. There will be lucrative opportunities for the expansion of the market as a result of initiatives related to the diagnosis of infections in livestock animals and raising awareness about the production losses caused by infectious diseases in livestock.
In developed economies, market expansion can be largely attributed to an increase in the number of veterinary practitioners and income levels, an increase in disease control and prevention measures, and an increase in animal health expenditures.
The global market will be driven by the availability of advanced diagnostic technologies, which veterinarians believe will improve diagnosis and treatment.In addition, market participants will be able to gain a long-term competitive advantage through continuous innovation, further consolidating their positions in the market.
US Livestock Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
consumables
Fastest Growth
consumables
Growth Rate
9% CAGR
Global Livestock Diagnostics Market ($ Bn)
Country Share for North America Region (%)
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Livestock Diagnostics Market Segmental Analysis
The Global Livestock Diagnostics market is segmented on the basis of By product type, By Technology, By animal type, By end user and by region. Whereas, By Product type Livestock Diagnostics Market is sub segmented into the consumables, systems, software. By Technology Livestock Diagnostics Market is sub segmented into the Immunodiagnostics, Molecular Diagnostics, Other Technologies. By Animal Type Livestock Diagnostics Market is sub segmented into the Ruminants, Swine, Poultry, Other Animals. By end user Livestock Diagnostics Market is sub segmented into the Reference Laboratories, Diagnostic Hospitals & Clinics, Point-Of-Care Testing. By region Livestock Diagnostics Market is segmented on the basis of North America, Europe, Asia pacific, Latin America, and middle east and Africa.
Livestock Diagnostics Market Analysis by Product type
Based on the Product type, The consumables segment is expected to grow at the highest growth rate during the forecast period. The commercial availability of a wide range of reagents and consumables for various diseases and animal health screening, as well as the availability of disease-specific test kits and assays, are driving factors in this segment's expansion. In addition, the market for livestock diagnostic consumables is anticipated to experience significant opportunities as a result of the emergence of various POC tests and assays.
Livestock Diagnostics Market Analysis by Technology
Based on the technology, the immunodiagnostics segment is expected to grow at the fastest CAGR during the forecast period. Because it is a quick, easy, and accurate research tool for detecting and quantifying targets, this method is used in diagnostics and quality control programs. Additionally, the growing use of miniaturized devices and the higher preference of veterinary practitioners for immunodiagnostics tests for their high accuracy standards contribute to its expansion.
Global Livestock Diagnostics Market By Provider Type
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Livestock Diagnostics Market Regional Insights
North America is estimated to account for the largest share of the global livestock diagnostics market during the forecast period. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The large number of livestock animals, rising rates of various zoonotic diseases, rising public awareness of animal health, and rising income levels are expected to drive this market's expansion. The region's veterinary healthcare expenditures have significantly increased, which is anticipated to accelerate market expansion.In addition, the growth potential in this region is anticipated to be increased by the presence of healthcare programs and the rise in initiatives to promote animal health .The North American Pet Health Insurance Association, for instance, aims to raise public awareness of pet health insurance coverage.
It is anticipated that the expansion of the market throughout North America will also be aided by the efficient measures taken by animal welfare organizations in the event of an emergency or sudden disease outbreak.During the forecast period, the Asia-Pacific regional market is anticipated to grow at the fastest rate.The regional market's expansion is anticipated to be aided by a number of key factors, including the rise in middle-class households, increased disposable income, pet animal acceptance, and the high demand for animal proteins.
Global Livestock Diagnostics Market By Region
- Largest
- Fastest
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Livestock Diagnostics Market Dynamics
Livestock Diagnostics Market Drivers
Rise in Demand for Livestock Derived Food Products is Benefiting Market Growth
- The primary driving force behind the expansion of the livestock diagnostics market is the rising demand for livestock-derived food products and the rising prevalence of various food-borne and zoonotic diseases. Positive government initiatives and technological advancements in veterinary diagnostics, on the other hand, are anticipated to further dampen market expansion. Within the aforementioned forecast period, it is also anticipated that the demand for early animal disease diagnosis and prevention will accelerate the market's expansion.
Livestock Diagnostics Market Restraints
High Cost associated with Products will Hinder Market Growth during Forecast Period
- In a few nations, reports of human-to-animal transmission have been made. Costly linked with this cutting-edge diagnosis will restrain market expansion. The high cost of veterinary diagnostics systems can further impede market expansion during the predicted period.
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Livestock Diagnostics Market Competitive Landscape
IDEXX Laboratories, Heska Corporation, Neogen, Zoetis, Thermo Fisher Scientific, Boehringer Ingelheim International GmbH, and Virbac are among the major players in the market.These prominent players concentrate on expanding the industry through strategic partnerships, the introduction of new products, and their commercialization.In addition, these leaders are making significant investments in research in order to launch cutting-edge products and maximize revenue.
Livestock Diagnostics Market Top Players Company Profile
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Zoetis Inc.
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Thermo Fisher Scientific Inc.
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Heska Corporation
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Virbac SA
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QIAGEN N.V.
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IDvet
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Bio-Rad Laboratories, Inc.
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GD Animal Health
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Agrolabo Spa
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BioMérieux SA
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Boehringer Ingelheim Vetmedica, Inc.
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Randox Laboratories Ltd.
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ABAXIS, Inc.
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AniGenics Inc.
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Bionote, Inc.
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Eurofins Scientific SE
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VCA Inc.
AgriProtein
Livestock Diagnostics Market Recent Developments
- In June 2021, IDEXX Laboratories, Inc. announced the acquisition of rVetLink, a company that is involved in cloud-based software technology and providing referral management solutions for animal diagnostics and veterinary specialty care hospitals. This acquisition will expand the company’s portfolio of cloud technology offerings for animal diagnostics.
- In February 2021, Heska Corporation announced the acquisition of Lacuna Diagnostics, a company that is involved in providing digital cytology services. This acquisition will allow the firm to broaden its point of care diagnostics offering.
Livestock Diagnostics Key Market Trends
- Tests have been conducted by authorities in animal health to learn how the virus affects animals.Until now, studies have demonstrated that felines are more prone to infection than other animals.Additionally, testing demonstrates that the virus spreads less between animals than between humans or humans and animals.
Livestock Diagnostics Market SkyQuest Analysis
Sky Quest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our global livestock diagnostics market analysis, North America is estimated to account for the largest share of the global market, followed by Europe and Asia-Pacific. The consumables segment is expected to grow at the highest growth rate during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 6.61 billion |
| Market size value in 2031 | USD 14.36 billion |
| Growth Rate | 9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Livestock Diagnostics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Livestock Diagnostics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Livestock Diagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Livestock Diagnostics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Livestock Diagnostics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Livestock Diagnostics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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