Johne’s Disease Diagnostics Market Size, Share & Trends Analysis Report By Animal Type (Cattle, Goat, Sheep), By Test Type (ELISA, PCR, AGID), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2022 - 2030
New York, July 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Johne’s Disease Diagnostics Market Size, Share & Trends Analysis Report By Animal Type, By Test Type, By Region And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06291012/?utm_source=GNW
Johne’s Disease Diagnostics Market Growth & Trends
The global Johne’s disease diagnostics market size is anticipated to reach USD 0.9 billion by 2030. The market is expected to expand at a lucrative CAGR of 5.1% from 2022 to 2030. Growing awareness about Johne’s disease increases the number of diagnostic tests in animals, contributing to market growth. Moreover, the increasing prevalence of zoonotic diseases is another factor driving the market for Johne’s disease diagnostics. The increasing cattle population or livestock population is a major factor responsible for market growth. According to NCBI, the global cow population might grow from 1.5 billion to 2.6 billion between 2000 and 2050, while the global goat and sheep population could grow from 1.7 billion to 2.7 billion.
The COVID-19 pandemic has had a major impact on the global population, as well as companies and sectors in a variety of ways.To deal with the dilemma, the healthcare profession has been forced to develop both therapeutic and preventative measures.
The pandemic has had a wide-ranging impact on many aspects of life, including the veterinary sector, necessitating a delicate balancing act between animal welfare and public health.Johne’s disease diagnostics sector, like other markets, has been severely impacted.
Supply chain disruptions, poor demand, and operational challenges owing to shifting laws and restrictions are some of the key negative effects of COVID-19 on the market.
Furthermore, factors driving the market include the presence of numerous animal health and diagnostics companies and a rise in veterinary healthcare expenditure which is expected to accelerate the growth of the market.Furthermore, the presence of healthcare programs and a rise in the number of initiatives to promote animal health are factors anticipated to increase the growth potential in this region.
Efficient measures undertaken by animal welfare organizations in case of an emergency or sudden disease outbreak are also expected to contribute to market growth across the globe. Moreover, well-developed infrastructure and high R&D spending in the region are factors anticipated to boost market.
Many new diagnostic tests are expected to be introduced in the market over the next few years.Local players and online sales of these devices and kits present major sources of competition.
Existing players are enhancing their portfolios with technologically advanced products and are widening their geographic reach by acquiring smaller local players. For instance, in July 2020, VMRD, Inc. received USDA approval for the testing of goat serum on its Johne’s Antibody Test Kit. This new development complemented the USDA’s existing licensing for bovine serum and milk samples, for which, this test can be widely utilized in laboratories throughout the U.S. and the world.
Johne’s Disease Diagnostics Market Report Highlights
• The cattle segment accounted for the largest revenue share in 2021 owing to its increasing population. The segment is estimated to hold approximately 85% of the overall market by 2030
• The PCR tests segment is poised to experience noteworthy growth over the coming years due to the rapid adoption of diagnostic testing
• The U.S. held the dominant share in the market for Johne’s disease diagnostics in 2021. This is attributed to a wide range of definitive measures adopted by the government’s animal care organizations, which are consistently striving for overall improvement in ruminant health
• Market players are involved in strategic initiatives such as new product launches, product approval, acquisitions, and partnerships to gain a competitive edge over each other
• For instance, in January 2022, PBD Biotech Ltd. expanded its business in North America. This supported the company’s regional expansion strategy and strengthened its presence in North America
Read the full report: https://www.reportlinker.com/p06291012/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001