A recent report published by Infinium Global Research on veterinary rapid test market provides an in-depth analysis of segments and sub-segments in the global as well as regional veterinary rapid test market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional veterinary rapid test market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global veterinary rapid test market. According to the report, the global veterinary rapid test market is projected to grow at a healthy CAGR over the forecast period of 2019-2025.
The veterinary rapid diagnostic test provides test kits for numerous viruses such as rabies, swine, and avian influenza, canine and feline heartworm, canine distemper virus and feline leukemia virus. It is estimated that the veterinary the rapid test market is expected to grow at a successive rate in the next upcoming years. Potential applications in the diagnosis and management of animal’s disease will drive the overall veterinary rapid diagnostic test market.
A recent report published by Infinium Global Research on veterinary rapid test is driven by the increasing occurrence of zoonotic diseases in livestock and companion animals and the growing need for the rapid detection of these diseases. There are commonly arising zoonotic diseases such as Rabies, Ebola Virus Disease, Q fever, and others. According to the Maine Center for Disease Control & Prevention, around 75% of developing communicable diseases affecting humans are diseases of animal cause. Additionally, growth in the demand of the animal product, increase in healthcare expenditure, rise in pet adoption rate, and increasing number of veterinary practitioners are the other key factors that drive the growth of veterinary rapid diagnostic test market. However, factors restraining the global market are less awareness about animal health in low-income countries, high cost of veterinary testing and complications associated with the tests. Moreover, increasing alertness regarding animal healthcare and growing demand for efficient test kits and other products creates opportunities for the growth of veterinary rapid test market through the forecast period.
The report on veterinary rapid test market is categorized regionally into North America, Asia Pacific, Latin America, and Middle East & Africa. Among all, North America holds the largest market share in the veterinary rapid test market. Growing awareness about animal diseases, rising animal healthcare expenditure, increasing animal population, a growing number of veterinary physicians, and the growing pet insurance market are some of the factors that drive the market growth in this region. The Asia Pacific is estimated to be the fastest growing veterinary rapid test market in the upcoming years owing to the technological advancement of sensitive veterinary rapid diagnostic kits.
The report on global veterinary rapid test market covers segments such as product type, application, and end user. On the basis of product type, the sub-markets include rapid test kits, and rapid test readers. On the basis of application, the sub-markets include bacterial diseases, allergies, viral diseases, parasitic diseases, and other applications. On the basis of end user, the sub-markets include clinics, veterinary hospitals, and reference laboratories.
The report provides profiles of the companies in the market such as Zoetis Inc., Heska Corporation, IDEXX Laboratories, Inc., BioNote, Inc., Fassisi GmbH, MEGACOR Diagnostik GmbH, SWISSAVANS AG, Biopanda Reagents Ltd., Woodley Equipment Company Ltd., and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of veterinary rapid test market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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