Dublin, Nov. 04, 2021 (GLOBE NEWSWIRE) -- The "Veterinary Rapid Test Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product, Application, and Animal Type" report has been added to ResearchAndMarkets.com's offering.
The veterinary rapid test market is projected to reach US$ 1,291.69 million by 2028 from US$ 733.87 million in 2021; it is expected to grow at a CAGR of 8.4% from 2021 to 2028.
The growth of the market is primarily attributed to increasing incidence of zoonotic diseases and rising initiatives by governments and animal welfare associations in different countries. Moreover, the escalating number of product launches is expected to foster market growth during the forecast period. However, the limited number of skilled professionals in veterinary diagnostics and the elevating costs of veterinary care are likely to hinder the market growth. Medical practices worldwide continue to adapt to the challenges of COVID-19. European countries such as Italy and Spain have registered the maximum number of deaths due to COVID-19. However, the animal health industry in European countries is minimally affected. In many countries, millennials are increasingly seeing pets as an alternative to children, which is driving pet adoption. For instance, the demand for dogs and cats has surged in Germany due to the pandemic. According to the German Kennel Club (VDH), in 2020, around 20% more dogs were purchased than the previous year. This is offering lucrative opportunities for the growth of the market in the coming years.
Based on product, the veterinary rapid test market is segmented into rapid test kits and rapid test readers. The rapid test kits segment is the largest shareholder in the market and is expected to register the highest CAGR during the forecast period. By application, the veterinary rapid test market is segmented into viral diseases, bacterial diseases, parasitic diseases, allergies, and other applications. The viral diseases segment is the largest shareholder in the market and is estimated to register the highest CAGR in the market during the forecast period. By animal type, the veterinary rapid test market is segmented into companion animals and livestock animals. The companion animals segment is sub segmented into dogs, cats, horses, and others. The livestock animals segment is further divided into cattle, poultry, swine, and others. The livestock animals segment holds the largest share of the veterinary rapid test. However, the companion animals segment is anticipated to register the highest CAGR in the market during the forecast period.
Reasons to Buy
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- The key findings and recommendations highlight crucial progressive industry trends in the global veterinary rapid test market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Key Topics Covered:
1. Introduction
2. Veterinary Rapid Test Market - Key Takeaways
3. Research Methodology
4. Global Veterinary Rapid Test Market - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.2.2 Europe - PEST Analysis
4.2.3 Asia Pacific - PEST Analysis
4.2.4 Middle East and Africa (MEA) - PEST Analysis
4.2.5 South and Central America (SCAM) - PEST Analysis
4.3 Expert Opinions
5. Veterinary Rapid Test Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing incidences of zoonotic diseases
5.1.2 Increasing initiatives by the governments and animal welfare associations of different countries
5.2 Market Restraints
5.2.1 Limited Number of Skilled Professionals in Veterinary Diagnostics
5.2.2 Increasing Costs of Veterinary Care and Extended Pet Lifespan
5.3 Market Opportunities
5.3.1 Demand for Advanced Diagnostics to Improve Veterinary Disease Diagnosis
5.4 Future Trends
5.4.1 Escalating Number of Product Launches
5.5 Impact Analysis
6. Veterinary Rapid Test Market - Global Analysis
6.1 Global Veterinary Rapid Test Market Revenue Forecast and Analysis
6.2 Global Veterinary Rapid Test Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
7. Veterinary Rapid Test Market Analysis - By Product
7.1 Overview
7.2 Veterinary Rapid Test Market Revenue Share, by Product (2021 and 2028)
7.3 Rapid Test Kits
7.3.1 Overview
7.3.2 Rapid Test Kits: Veterinary Rapid Test Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Rapid Test Readers
7.4.1 Overview
7.4.2 Rapid Test Readers: Veterinary Rapid Test Market - Revenue and Forecast to 2028 (US$ Million)
8. Veterinary Rapid Test Market Analysis - By Application
8.1 Overview
8.2 Veterinary Rapid Test Market Share, by Application, 2021 and 2028, (%)
8.3 Viral Diseases
8.3.1 Overview
8.3.2 Viral Diseases: Veterinary Rapid Test Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Bacterial Diseases
8.4.1 Overview
8.4.2 Bacterial Diseases: Veterinary Rapid Test Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Parasitic Diseases
8.5.1 Overview
8.5.2 Parasitic Diseases: Veterinary Rapid Test Market - Revenue and Forecast to 2028 (US$ Million)
8.6 Allergies
8.6.1 Overview
8.6.2 Allergies: Veterinary Rapid Test Market - Revenue and Forecast to 2028 (US$ Million)
8.7 Other Application
8.7.1 Overview
8.7.2 Other Application: Veterinary Rapid Test Market - Revenue and Forecast to 2028 (US$ Million)
9. Veterinary Rapid Test Market Analysis - By Animal Type
9.1 Overview
9.2 Veterinary Rapid Test Market Revenue Share, by Animal Type (2021 and 2028)
9.3 Companion Animals
9.3.1 Overview
9.3.2 Companion Animals: Veterinary Rapid Test Market - Revenue and Forecast to 2028 (US$ Million)
9.3.2.1 Dogs
9.3.2.1.1 Overview
9.3.2.1.2 Dogs Market Revenue and Forecast to 2028 (US$ Mn)
9.3.2.2 Cats
9.3.2.2.1 Overview
9.3.2.2.2 Cats Market Revenue and Forecast to 2028 (US$ Mn)
9.3.2.3 Horses
9.3.2.3.1 Overview
9.3.2.3.2 Horses Market Revenue and Forecast to 2028 (US$ Mn)
9.3.2.4 Others
9.3.2.4.1 Overview
9.3.2.4.2 Others Market Revenue and Forecast to 2028 (US$ Mn)
9.4 Livestock Animals
9.4.1 Overview
9.4.2 Livestock Animals: Veterinary Rapid Test Market - Revenue and Forecast to 2028 (US$ Million)
9.4.2.1 Cattle
9.4.2.1.1 Overview
9.4.2.1.2 Cattle Market Revenue and Forecast to 2028 (US$ Mn)
9.4.2.2 Swine
9.4.2.2.1 Overview
9.4.2.2.2 Swine Market Revenue and Forecast to 2028 (US$ Mn)
9.4.2.3 Poultry
9.4.2.3.1 Overview
9.4.2.3.2 Poultry Market Revenue and Forecast to 2028 (US$ Mn)
9.4.2.4 Others
9.4.2.4.1 Overview
9.4.2.4.2 Others Market Revenue and Forecast to 2028 (US$ Mn)
10. Global Veterinary Rapid Test Market - Geographic Analysis
11. Impact Of COVID-19 Pandemic on Veterinary Rapid Test Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
11.2 Europe: Impact Assessment of COVID-19 Pandemic
11.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
11.1 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.2 South & Central America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Growth Strategies Done by the Companies in the Market, (%)
12.3 Organic Developments
12.3.1 Overview
12.4 Inorganic Developments
12.4.1 Overview
13. Company Profiles
13.1 IDEXX LABORATORIES, INC.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Zoetis Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Virbac
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 HESKA CORPORATION
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Biopanda Reagents Ltd
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Fassisi GmbH
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Bionote Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Swissavans AG
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 MEGACOR Diagnostik GmbH
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Woodley Equipment Company Ltd
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/kvhj3q
