At 6.8% CAGR, the Europe Bovine Diagnostics Market is projected to be worth US$ 511.86 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Europe bovine diagnostics market was valued at US$ 301.31 million in 2022 and is expected to reach US$ 511.86 million by 2030, registering a CAGR of 6.8% from 2022 to 2030. High prevalence and economic impact of bovine mastitis and high prevalence of bovine tuberculosis are among the critical factors attributed to the Europe bovine diagnostics market expansion.       

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. Despite the ongoing technological and infrastructural developments, many countries fail to effectively diagnose bTB due to the complexity of the disease and the lack of universal strategies for its diagnosis.

Companies in the Europe bovine diagnostics market is developing different techniques and showcasing those in formal events such as seminars. In March 2023, the STAR-IDAZ International Research Consortium (IRC), Birmingham, UK, showcased the Future of bTB research under the microscope in a workshop organized online by a group of organizations. The consortium includes the World Organization for Animal Health (WOAH), the UK Department for Environment, Food & Rural Affairs (DEFRA), UK Research and Innovation (UKRI), and Kreavet. This global virtual event was attended by ~100 experts from Europe, Africa, Asia, the US, and South America. The IRC aims to coordinate research at the international level, contributing to new and improved animal health strategies. Also, the event concluded that global benefits would be provided through future research context-appropriate solutions.

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

Based on product, the Europe bovine diagnostics market is segmented into immunoassay kits, PCR reagents & kits, hemagglutination inhibition (HI) assay, and other products. The immunoassay kits segment held 46.8% share of Europe bovine diagnostics market in 2022, amassing US$ 141.12 million. It is projected to garner US$ 253.74 million by 2030 to expand at 7.6% CAGR during 2022–2030.

Based on disease type, the Europe 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 35.8% share of Europe bovine diagnostics market in 2022, amassing US$ 107.78 million. It is projected to garner US$ 194.09 million by 2030 to expand at 7.6% CAGR during 2022–2030.

Based on end user, the Europe bovine diagnostics market is segmented into veterinary hospitals, veterinary clinics, and other end-users. The veterinary hospitals segment held 53.5% share of Europe bovine diagnostics market in 2022, amassing US$ 161.34 million. It is projected to garner US$ 290.91 million by 2030 to expand at 7.6% CAGR during 2022–2030.

Based on country, the Europe bovine diagnostics market has been categorized into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that the UK captured 24.6% share of Europe bovine diagnostics market in 2022. It was assessed at US$ 74.16 million in 2022 and is likely to hit US$ 133.23 million by 2030, exhibiting a CAGR of 7.6% during 2022–2030.

Key players operating in the Europe bovine diagnostics market are bioMerieux SA, Enfer Labs, Idexx Laboratories Inc, Innovative Diagnostics SAS, Neogen Corp, PBD Biotech Ltd, and Thermo Fisher Scientific Inc, among others.   

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