Livestock Diagnostics Market Worth $2.02 Billion by 2028

Livestock Diagnostics Market by Product (Consumables {Influenza, Foot and Mouth Disease}, System, Software), Technology (Immunodiagnostics {ELISA}, Molecular diagnostics {PCR}), Animal Type (Bovine, Swine, Poultry), and End Users - Global Forecast to 2028

Meticulous Research®– a leading global market research company published a research report titled “Livestock Diagnostics Market by Product (Consumables {Influenza, Foot and Mouth Disease}, System, Software), Technology (Immunodiagnostics {ELISA}, Molecular diagnostics {PCR}), Animal Type (Bovine, Swine, Poultry), and End Users - Global Forecast to 2028.”

According to this latest publication from Meticulous Research®, the global livestock diagnostics market is expected to reach $2.02 billion by 2028, at a CAGR of 8.2% during the forecast period. The increasing prevalence of various food-borne and zoonotic diseases, rising demand for livestock-derived food products, favorable government initiatives, and technological advancements in livestock diagnostics are the key factors driving steady growth in the global livestock diagnostics market.

Livestock Diagnostics Market: Future Outlook

The global livestock diagnostics market study is segmented on the basis of product (consumables, systems, and software), technology (immunodiagnostics, molecular diagnostics, and other technologies), animal type (ruminants, swine, poultry, and other animals), end user (reference laboratories, veterinary hospitals & clinics, and point-of-care testing), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes their market share at global and regional levels.

Based on product, the livestock diagnostics market is segmented into consumables, systems, software. In 2021, the consumables segment is estimated to account for the largest share of the livestock diagnostics market. The growth of this segment can be attributed to the commercial availability of a diverse range of reagents and consumables for various diseases and animal health screening, the recurrent nature of consumables, availability of disease-specific test kits and assays, and growing awareness regarding regular animal health check-ups.

Based on technology, the immunodiagnostics segment is estimated to account for the largest share of the global livestock diagnostics market in 2021 due to its implementation in diagnostics as well as for quality-control programs as they are rapid, convenient, and are an accurate research tool for the detection and quantitation of targets. Further, the continuous development of new biomarkers & their cost-benefit and growing adoption of automated platforms for ELISA are expected to increase the adoption of this technology.

Based on animal type, the market is categorized into ruminants, swine, poultry, and other animals (equine and fish). In 2021, the ruminants segment is estimated to account for the largest share of the global livestock diagnostics market due to their growing population, rising government initiatives for improving their health, and growing demand for food products derived from ruminants. The ruminants segment is further segmented into bovine and other ruminants, which comprises sheep, goats, deer, elk, giraffes, and camels.

Based on end user, the market is segmented into reference laboratories, veterinary hospitals & clinics, and point-of-care testing. In 2021, the reference laboratories segment is estimated to account for the largest share of the global livestock diagnostics market due to the higher adoption of livestock diagnostic products by reference laboratories, growing R&D activities to impart advancements in the procedures of animal health checks, and growing preference for clinics, small to mid-sized hospitals, and farm owners towards utilizing health screening and diseases diagnostic services offered by reference laboratories.

This research report analyzes major geographies and provides comprehensive analysis for North America (U.S and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and Middle East & Africa. In 2021, North America is estimated to account for the largest share of the global livestock diagnostics market, followed by Europe and Asia-Pacific. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. Growth in this market is expected to be driven by factors such as the large population of livestock animals, rising incidence of various zoonotic diseases, rising awareness about animal health, and increasing income levels.

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Key Players

The key players operating in the global livestock diagnostics market 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.).

Key questions answered in the report

What is the current value of revenue generated by livestock diagnostic products?
At what rate the demand for global livestock diagnostic products is projected to grow for the next 5-7 years?
What is the historical market size and growth rate for livestock diagnostics across the globe?
What are the major factors impacting the growth of this market at global and regional levels? What are major opportunities for existing market players and new entrants in the market?
What impact does the current COVID-19 pandemic have on the livestock diagnostics market at various levels in the value chain?
Which segments in terms of the product, technology, animal type, and end user are creating the major traction for the vendors in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the global livestock diagnostics market vendors?
Who are the major players in the global livestock diagnostics market? And also, what are their specific consumables/software/system offering in the livestock diagnostics industry?
What recent developments have taken place in the global livestock diagnostics market, and how these strategic developments are creating a global impact in this market?

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