Asia-Pacific Livestock Diagnostics Market to Reach $501.8 Million by 2030

Asia-Pacific Livestock Diagnostics Market by Product (Consumables {Swine Fever, Influenza}, System, Software), Technology (Immunodiagnostics {ELISA, LFA}, PCR), Animal Type (Swine, Bovine, Poultry), End User (POC, Veterinary Hospital) - Forecast to 2030

Meticulous Research^®—a leading market research company, published a research report titled, ‘Asia-Pacific Livestock Diagnostics Market by Product (Consumables {Swine Fever, Influenza}, System, Software), Technology (Immunodiagnostics {ELISA, LFA}, PCR), Animal Type (Swine, Bovine, Poultry), End User (POC, Veterinary Hospital) - Forecast to 2030.’

According to this latest publication from Meticulous Research^®, the Asia-Pacific livestock diagnostics market is expected to grow at a CAGR of 10% from 2023 to reach $501.8 million by 2030. The growth of this market is driven by the growing demand for animal-derived food products, the increasing prevalence of transboundary and zoonotic diseases, and favorable initiatives. Additionally, increasing awareness regarding animal health amongst farmers is expected to create growth opportunities for the stakeholders in this market. However, the dearth of veterinary practitioners for livestock animals restrains the growth of this market. Moreover, the lack of well-developed animal health infrastructure poses a challenge to the market.

Key Players

The key players operating in the Asia-Pacific 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), Neogen Corporation (U.S.), BioNote, Inc. (South Korea), Ring Biotechnology Co Ltd. (China), and GD Animal Health (Netherlands).

Asia-Pacific Livestock Diagnostics Market: Future Outlook

The Asia-Pacific Livestock Diagnostics Market is segmented by Product [Consumables(Bovine Viral Diarrhea, Influenza, Swine Fever, Foot-and-mouth Disease, Porcine Reproductive and Respiratory Syndrome, Blue Tongue virus, other diseases), systems, software], Animal Type [Ruminants (bovine and other ruminants), Poultry, Swine, and Other Livestock], Technology [Immunodiagnostics (ELISA and Others), Molecular Diagnostics (PCR and other molecular diagnostic technologies), other technologies], End User [Reference Laboratories, Veterinary Hospitals & Clinics, Point-of-care/At Farm Testing], and Geography. The study also evaluates industry competitors and analyzes the market at country levels.

Based on the product, the Asia-Pacific Livestock Diagnostics Market is segmented into consumables, systems, and software. In 2023, the consumables segment is expected to account for the largest share of the market. This largest share can be attributed to the recurrent use of consumables, high preference for rapid diagnostics for efficient disease management, and availability of test kits for a wide range of animal diseases.

Based on animal type, the Asia-Pacific Livestock Diagnostics Market is segmented into ruminants, poultry, swine, and other livestock. The ruminants segment is expected to grow at a faster CAGR during the forecast period. Factors contributing to the segment’s growth are the consumption of animal-derived food products, increasing livestock populations to meet the growing demand, and increasing animal-derived food products export activities to other countries.

Based on technology, the Asia-Pacific Livestock Diagnostics Market is segmented into immunodiagnostics, molecular diagnostics, and other technologies. In 2023, the immunodiagnostics segment is expected to account for the largest share of the market. The use of immunodiagnostic testing for disease diagnosis and monitoring is one of the major factors for the large share of the segment. Moreover, immunodiagnostic tests offer rapid and near-patient testing options that help farmers with early disease diagnosis and treatment, leading to the prevention of productivity loss in animals.

Based on end users, the Asia-Pacific Livestock Diagnostics Market is segmented into reference laboratories, veterinary hospitals & clinics, and point-of-care/at farm testing. The point-of-care/at farm testing segment is expected to grow at the fastest CAGR during the forecast period. The growing awareness among farmers regarding early disease diagnosis in animals and growing preference towards near animal testing are the factors driving the growth of this segment.

Geographic Review

This research report analyzes major countries and provides a comprehensive analysis of the Asia-Pacific Livestock Diagnostics Market in Japan, India, China, Australia, South Korea, Indonesia, Thailand, Philippines, Malaysia, Vietnam, Singapore, and the rest of Asia-Pacific. China is expected to grow at the fastest CAGR during the forecast period. This growth is attributed to the growing population of livestock, the government’s focus and commitment to developing the agricultural sector in the country, and the huge burden of African swine fever in the country. For instance, according to the American Society of Microbiology, around 225 million pigs in China either died or were culled due to the ASF outbreak during 2018-2019, and several new outbreaks were further recorded in 2021 and 2022.

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Key Questions Answered in the Report:

What is the current revenue generated through the sale of livestock diagnostics products in Asia-Pacific?
At what rate is the demand for the Asia–Pacific livestock diagnostics market projected to grow over the next 5–7 years?
What is the historical market size and growth rate of the Asia-Pacific livestock diagnostics market?
What are the major factors impacting the growth of this market at the regional level? What are the major opportunities for existing market players and new entrants in the market?
Which segments in terms of product, technology, animal type, and end user are creating major traction for the vendors in this market?
What are the key geographical trends in this market? Which countries are expected to offer significant growth opportunities for the vendors operating in the Asia-Pacific livestock diagnostics market?
Who are the major players in the Asia-Pacific livestock diagnostics market? And what are their specific product offerings in the Asia-Pacific livestock diagnostics market?
What are the recent strategic developments in the Asia-Pacific livestock diagnostics market, and what are the impacts of these developments on the market?

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