Bovine Diagnostics Market worth $2 Billion by 2030 – Exclusive Report by The Insight Partners
Global bovine diagnostics market is growing at a CAGR of 7.2% from 2022 to 2030.
Pune, India, Sept. 13, 2023 (GLOBE NEWSWIRE) — Bovine tuberculosis (bTB) is a chronic infectious disease that primarily affects cattle, and is later transmitted to other animals and humans. The World Organization for Animal Health (WOAH) has listed bTB as one of the diseases that must be detected and reported as earliest as possible. As per the data shared by Thermo Fisher Scientific in May 2023, bTB affects more than 50 million cattle worldwide, incurring annual economic losses of ~US$ 3 billion. In the UK, the disease incurs financial losses of ~US$ 145 million each year. The prevalence of bTB differs in different geographic areas. It is rare in Europe, Canada, and the US; however, its prevalence reaches beyond bTB 50% in Africa and some parts of Asia. Despite the ongoing technological and infrastructural developments, many countries fail to effectively diagnose bTB due to the complexity of the disease, which results in the lack of universal strategies for its diagnosis. This scenario provides opportunities for bovine diagnostics market players to enhance awareness in Africa and Asia, and launch new products that suit the socioeconomic conditions in these countries.
Bovine Diagnostics Market in terms of revenue was estimated to be worth $1.15 billion in 2022 and is poised to reach $2.01 billion by 2030, growing at a CAGR of 7.2% during 2022 to 2030 according to a new report published by The Insight Partners.
The bovine diagnostics market growth is influenced by high prevalence and economic impact of bovine mastitis and increasing number of product launches.
Download Sample Pages: https://www.theinsightpartners.com/sample/TIPRE00030034
Browse Comprehensive TOC on “Bovine Diagnostics Market Size and Forecasts (2020 – 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Product (Immunoassay Kits, PCR Reagents & Kits, Hemagglutination Inhibition (HI) Assay, and Other Products), Disease Type [Bovine Viral Diarrhea (BVD), Bovine Tuberculosis (TB), Bovine Mastitis, Foot and Mouth Disease (FMD), and Other Disease Types], End User (Veterinary Hospitals, Veterinary Clinics, and Other End Users), and Geography”
List of Tables – 85
List of Figures – 60
No. of Pages – 152
Global Bovine Diagnostics Market Scope:
|Market Size Value in||USD 1.15 Billion in 2022|
|Market Size Value by||USD 2.01 Billion by 2030|
|Growth rate||CAGR of 7.2% from 2022 to 2030|
|Segments covered||Product, Disease Type, End User, and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America.|
|Country scope||Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States|
|Report coverage||Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends|
Upsurge in Research Funding to Develop Modern Diagnostic Approaches Would Lead to Future Trends in Global Bovine Diagnostics Market:
The livestock sector is an important source of economic gain for various countries due to the uninterrupted demand for dairy products and meat across the world. Bovine tuberculosis (bTB) is the most difficult, intractable, and challenging disease to diagnose. According to the UK government, over 30,000 cattle are slaughtered annually due to this disease, and the government aims to eradicate the disease from England by 2038. Therefore, investments in the development of advanced techniques to diagnose cattle diseases have increased in the UK, as well as in other countries. In August 2020, the UK government announced the funding of US$ 405,500 (£500,000) for 5 projects focused on the effective detection of bTB in cattle. Researchers in England, Scotland, and Wales are utilizing the available funds to develop innovative and rapid technologies by incorporating machine learning in skin tests to detect bTB in cattle herds. They aim to come up with technologies to determine bTB status rapidly through the development of mass spectrometry profiling of noninvasively taken cattle samples, the development of mid-infrared spectroscopy of milk samples, and technologies to identify novel diagnostics antigens to develop tests to detect infection among vaccinated animals. Thus, the availability of funds for research to develop modern diagnostics approaches is likely to bring new growth trends into the bovine diagnostics market.
Global Bovine Diagnostics Market: Segmental Overview
The “Global Bovine Diagnostics Market” is segmented on the basis of product, disease type, end user, and geography. Based on product, the bovine diagnostics market is segmented into immunoassay kits, PCR kits, hemagglutination inhibition (HI) assay, and others. The immunoassay kits segment held the largest market share in 2022, and the same segment is anticipated to register the highest CAGR during 2022–2030. Applications of kits for various clinical diagnoses, innovative offerings by key players, and technological advancements in test kits drive the market growth of the immunoassay kits segment.
Based on disease type, the market is categorized into bovine viral diarrhea (BVD), bovine tuberculosis (TB), bovine mastitis, foot and mouth disease (FMD), and others. The bovine mastitis segment held the largest market share in 2022 and is also anticipated to register the highest CAGR during 2022–2030. Bovine mastitis in cattle is characterized by persistent inflammation in the udder tissue, caused by physical trauma or microorganism infection. Infections of the mammary gland are a potentially fatal disease, most common in dairy cattle. It is a leading cause of economic loss in the dairy industry due to reduced yield and poor milk quality. It is associated with increased somatic cell counts in bovine milk, which results in the reduction of milk yield and quality. The microbial infection or the mastitis can be caused due to viral, mycoplasma, fungus, or bacterial infection. It manifests itself as clinical or subclinical mastitis. Clinical mastitis is classified as mild, moderate, or severe/fatal, and chronic mastitis requires antimicrobial therapy. Inidical Bioscience offers the bactotype Mastitis Env PCR Kit, a highly sensitive and specific solution that uses qPCR technology to detect the DNA of mastitis-causing environmental pathogens in samples from ruminant milk. Thus, severity due to bovine mastitis increases the demand for bovine mastitis diagnosis.
Based on end user, the bovine diagnostics market is divided into veterinary hospitals, veterinary clinics, and others. The veterinary hospitals segment held the largest market share in 2022, and the same segment is anticipated to register a higher CAGR during 2022–2030. The bovine veterinary hospitals provide essential healthcare services for bovine herds as well as offer on-farm visits. Bracken Ridge Veterinary Medical Doctor Inc., Bedford, is equipped with a full laboratory, surgical, pharmacy, and dental suite, and addresses intensive medical needs. They provide diagnostics, surgical procedures, emergency care, vaccinations, anti-parasite or antibiotic treatment, calf castration or weaning assistance, nutrition advice, and other care and treatments related to bovine. In India, the Government of Assam’s Animal Husbandry & Veterinary helps the state to set the infrastructure for new veterinary hospitals and dispensaries and strengthen/equip the existing ones. Thus, support from the government and growing research on bovine diseases drives the bovine diagnostics market growth
Global Bovine Diagnostics Market: Competitive Landscape
Idexx Laboratories Inc, PBD Biotech Ltd, Thermo Fisher Scientific Inc, Innovative Diagnostics SAS, Neogen Corp, Enfer Labs, bioMerieux SA, Ring Biotechnology Co Ltd, Bionote Inc, and Shenzhen Bioeasy Biotechnology Co Ltd are among the leading companies operating in the bovine diagnostics market. Focus of these players on expanding and diversifying their market presence and acquiring a novel customer base, tapping prevailing business opportunities in the bovine diagnostics market.
Order a Copy of this Report at https://www.theinsightpartners.com/buy/TIPRE00030034
Global Bovine Diagnostics Market – Key Industry Dynamics:
- High Prevalence and Economic Impact of Bovine Mastitis
- Increasing Number of Product Launches
- Lack of Skilled Professionals in Veterinary Research
- High Prevalence of Bovine Tuberculosis
- Upsurge in Research Funding to Develop Modern Diagnostic Approaches
In July 2023, PBD Biotech’s Actiphage TB entered its third clinical trial. The developer PBD Biotech, the University of Leicester, and the NIHR Respiratory Biomedical Research Centre, Leicester (UK) have been collaboratively working on the development of a ground-breaking phage-based molecular diagnostic solution. The clinical study aims to validate Actiphage TB’s phage-based diagnostics potential for the diagnosis of tuberculosis.
In September 2022, Ringbio launched its first generation of bovine pregnancy rapid test kit, a 10–15 min lateral flow immunoassay to detect cow pregnancy status in serum samples. The kit utilizes the high-affinity monoclonal antibodies against the pregnancy-associated glycoproteins (PAG), a class of marker protein that can easily check whether the cow is pregnant or not, in bovine serum. This rapid test would particularly benefit small and mid-sized farms.
Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Bovine Serum Albumin Market – Global Analysis and Forecast to 2030
Bovine-based Collagen for Biomedical Applications Market – Global Analysis and Forecast to 2030
Bovine Pericardial Valve Market – Global Analysis and Forecast to 2030
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
Press Release: https://www.theinsightpartners.com/pr/bovine-diagnostics-market
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.