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.