PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424310
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424310
Global Bird Flu Market is estimated to be valued at US$ 1.43 Bn in 2023, and is expected to reach US$ 2.03 Bn by 2030, growing at a compound annual growth rate (CAGR) of 5.1% from 2023 to 2030.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023/2024: | US$ 1.43 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 5.10% | 2030/2031 Value Projection: | US$ 2.03 Bn |
Bird flu, or avian influenza, refers to the diseases caused by influenza viruses that normally infect wild waterfowl and shorebirds. On rare occasions, these viruses can infect poultry and other bird and animal species, as well as humans. Over the past two decades, several subtypes of avian influenza viruses have emerged which can cause severe disease in poultry and some lead to serious illness or death in humans. The global spread of highly pathogenic avian influenza A (H5N1) virus from 1997 to 2006 raised considerable concern for its pandemic potential. While no sustained human-to-human transmission has been documented, sporadic human cases continue to occur, predominantly linked to contact with infected live or dead poultry.
Global bird flu market growth is driven by factors such as the cyclic outbreaks of avian influenza in poultry farms which lead to huge economic losses, increasing risk of virus mutation and potential human pandemic, and rising government focus on prevention, control and surveillance of avian influenza viruses. However, factors such as lack of awareness regarding avian influenza in many developing countries, difficulties associated with vaccination programs in commercial poultry, and high costs related to developing effective anti-viral drugs and vaccines are restraining the market growth. The development of novel point-of-care diagnostic technologies and emerging economies improving prevention and control measures present high-impact opportunities for market expansion.
For instance, in March 2023, Virax Biolabs Group Limited, an innovative diagnostics company that focuses on the prevention, detection, and diagnosis of viral diseases, announced the distribution of an Avian Influenza A Virus real-time PCR test kit to CE-marked markets, namely the European Union. The test kit detects and distinguishes ribonucleic acid from AIV and the H5, H7, and H9 subtypes, including the H5N1 strain presently circulating in Europe.
Global Bird Flu Market Detailed Segmentation: