At 8.6% CAGR, the Asia Pacific Bovine Diagnostics Market is projected to be worth US$ 482.94 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific bovine diagnostics market was valued at US$ 250.42 million in 2022 and is expected to reach US$ 482.94 million by 2030, registering a CAGR of 8.6% from 2022 to 2030. High prevalence and economic impact of bovine mastitis and increasing number of product launches are among the critical factors attributed to the Asia Pacific bovine diagnostics market expansion.       

Continuous research and development efforts allow veterinary diagnostics companies to launch various innovative diagnostics products that provide rapid results. In addition, growing awareness among end users through the government’s educative and knowledge-sharing programs has encouraged these companies to introduce advanced diagnostics products. A few of the recent product launches in the bovine diagnostics market have been mentioned below.

• In June 2023, Zoetis, Inc launched Vetscan Mastigram+, an on-farm mastitis diagnostic solution that provides results 8 hours before the next milking. The Vetscan Mastigram+ uses a flow dipstick test to detect Gram-positive mastitis in cattle. The product would detect the presence of Gram-positive pathogens in cow milk with 99% sensitivity and 100% specificity, along with differentiating between for Gram-positive and Gram-negative bacteria.
• In June 2023, Neogen Corporation launched Igenity BeefXDairy, a DNA test for beef-on-dairy cattle. The test would provide insights into the traits such as carcass quality, average daily gain, and the Igenity Terminal Index to the producers. In addition, it would allow buyers to receive breed composition data to help them with optimal cattle health management and maximize the cattle product yield.

On the contrary, lack of skilled professionals in veterinary research hampers the Asia Pacific bovine diagnostics market.

Based on product, the Asia Pacific bovine diagnostics market is segmented into immunoassay kits, PCR reagents & kits, hemagglutination inhibition (HI) assay, and other products. The immunoassay kits segment held 46.5% share of Asia Pacific bovine diagnostics market in 2022, amassing US$ 116.46 million. It is projected to garner US$ 237.89 million by 2030 to expand at 9.3% CAGR during 2022–2030.

Based on disease type, the Asia Pacific bovine diagnostics market is segmented into bovine viral diarrhea (BVD), bovine tuberculosis (TB), bovine mastitis, foot and mouth disease (FMD), and other disease types. The bovine mastitis segment held 35.0% share of Asia Pacific bovine diagnostics market in 2022, amassing US$ 87.66 million. It is projected to garner US$ 178.06 million by 2030 to expand at 9.3% CAGR during 2022–2030.

Based on end user, the Asia Pacific bovine diagnostics market is segmented into veterinary hospitals, veterinary clinics, and other end-users. The veterinary hospitals segment held 52.6% share of Asia Pacific bovine diagnostics market in 2022, amassing US$ 131.83 million. It is projected to garner US$ 265.91 million by 2030 to expand at 9.2% CAGR during 2022–2030.

Based on country, the Asia Pacific bovine diagnostics market has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 24.3% share of Asia Pacific bovine diagnostics market in 2022. It was assessed at US$ 60.94 million in 2022 and is likely to hit US$ 131.30 million by 2030, exhibiting a CAGR of 10.1% during 2022–2030.

Key players operating in the Asia Pacific bovine diagnostics market are bioMerieux SA, Bionote Inc, Idexx Laboratories Inc, Innovative Diagnostics SAS, Neogen Corp, Ring Biotechnology Co Ltd, Shenzhen Bioeasy Biotechnology Co Ltd, and Thermo Fisher Scientific Inc, among others.

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