Global Veterinary Rapid Test Market
Global Veterinary Rapid Test Market Report Description:
Global veterinary rapid test market report gives comprehensive outlook on veterinary rapid test across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global veterinary rapid test market gives historical, current, and future market sizes (US$ Mn) on the basis of product, application, animal type, and region. This report studies global veterinary rapid test market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global veterinary rapid test market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global veterinary rapid test products.
Global Veterinary Rapid Test Market:
The global veterinary rapid test market is expected to be valued at US$ 482.4 Mn in 2018 and growing at a CAGR of 8.7% over the forecast period to reach US$ 915.3 Mn by 2025 owing to rising prevalence of zoonotic diseases coupled with rise in the growth of pet animals across the developed and developing countries. Moreover, growing demand for the animal-derived foods and shift of veterinary diagnostic services from labs to clinics coupled with increasing adoption of multiple diseases testing panels are anticipated to drive the growth of the market over forecast years. Furthermore, rapid diagnostics tests in veterinary has high potential applications in diagnosing animal disease and management of animal’s disease that increases the growth of the market over the future years. However, very less awareness on animal healthcare and limited animal diagnostics are estimated to restrain the growth of the market.
Increase in prevalence and incidence of zoonotic diseases drives the growth of the market
Increase in prevalence of zoonotic diseases in urbanized and emerging economies are expected to surge demand for rapid diagnostic tests of diseases is anticipated to fuel the growth of the market. For instance, according International Livestock Research, zoonotic diseases are the main problems in the path out of poverty for one billion livestock caretakers. There is growing demand for effective test kits and other products is projected to boost the growth of the market over the future years.
Asia Pacific is leading the global market
Asia Pacific is leading the global market and is expected to grow with significant CAGR owing to growth in pet ownership and increase in focus towards animal health, rise in number of government initiative to encourage animal health in the emerging economies of the region such as China, India, and Indonesia. According to estimates, the number of animal lovers in the region has been increased over the past years and the number of pets has increased promptly in countries like China. In 2018, According to the China Pet Industry, a common study issued Goumin.com, and Pet Fair Asia online pet community, there are almost 92 million canines and felines as pets in the urban areas of China.
Key player’s profiles in the global veterinary rapid test market include:
- Zoetis, Inc.
- Heska Corporation
- Fassisi GmbH
- IDEXX Laboratories, Inc.
- Biopanda Reagents Ltd.
- SWISSAVANS AG
- BioNote, Inc.
- MEGACOR Diagnostik GmbH
- Woodley Equipment Company
Key Findings of the Report:
- Global veterinary rapid test market expanding at significant CAGR over 2018 to 2025 owing to increasing number of pet lovers in developing economies coupled with rising prevalence of zoonotic diseases.
- Based on region, Asia Pacific accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global market
By Product Type
- Rapid Test Kit
- Rapid Test Readers
By Distribution Channel
By Distribution Channel
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market