Global Veterinary Rapid Test Market is anticipated to account for a market share of $xx MN in 2026 from $xx MN in 2020, at a CAGR of 8.7% during a forecast period.

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Global Veterinary Rapid Test Market Overview

Veterinary Rapid Tests are primarily used for screening of animals like cats, dogs, cattle and bovine. These tests are carried out by placing a sample specimen on the device and results are obtained after antigen-antibody interaction, which forms a visible indicator as a result on the device. Rapid test kit provides the efficiency in detecting pathogens in less time and are used for testing viral diseases such as rabies, feline heartworm and canine, feline leukemia virus, canine distemper virus, avian influenza and swine.
Global Veterinary Rapid Test Market Dynamics

Rising occurrence of zoonotic diseases is one of the significant factors driving the market growth.

It is estimated that, globally, about one billion cases of illness and millions of death occur every year from zoonoses. Some 60% of emerging infectious diseases that are reported globally are zoonoses. Over 30 new human pathogens have been detected in the last three decades, 75% of which have originated in animals.The growing pet ownership across the world has increased the risk of zoonotic diseases, which can spread from animals to humans through viruses, bacteria, fungi, or parasites.

The risk of contracting zoonotic diseases is primarily high among small-scale livestock keepers in rural areas of emerging countries of Asia and Africa. Also, increasing advantages of rapid tests over traditional testing methods and rising demand for animal derived food products are the major factors boosting the market growth. Moreover, ongoing research and development activities will create new opportunities for veterinary rapid test market in the forecast period.

Lack of awareness regarding animal healthcare may hamper the market growth.

Lack of knowledge about pet care and dearth of veterinary practitioners especially in the low and middle income economies is the major restraining factor for the market growth. Also, lack of standardization and high prices of pet care, limited animal diagnostics infrastructure in numerous countries and low animal healthcare awareness are the major factors among others acting as restraints, and will further challenge the market growth.

The report has profiled twenty key players in the market from different regions. However, report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation the size of the same. Increasing R&D activities in each region are different and focus is given on the regional impact on the cost, availability of advanced technology are analyzed and report has come up with recommendations for future hot spot in APAC region.
Global Veterinary Rapid Test Market Segment Analysis

The Global Veterinary Rapid Test market is segmented on the basis of product, application and animal type.

Based on product, rapid test kits are estimated to hold prominent market share. Rapid test kits are convenient to store at room temperature for an extended period of time. Results are obtained faster and the specificity of these rapid tests ranges from 90% to 100%, while sensitivity ranges from 85% to 90% in a given rapid test kit. As per the news released in July 2019, Rapid Labs launched a new a series of rapid tests to add to their increasingly-expanding veterinary range.

Global Veterinary Rapid Test Market1

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Global Veterinary Rapid Test Market Regional Insights

Global Veterinary Rapid Test Market2

North America is expected to hold a prominent market share.

According to the geographical survey, North America dominated the global market in 2016 and is expected to continue the dominance throughout the forecast period, due to high prevalence of zoonotic diseases coupled with rising pet ownership propels the market growth. Zoonotic diseases are very common, both in the United States and around the world. Scientists estimate that more than 6 out of every 10 known infectious diseases in people can be spread from animals, and 3 out of every 4 new or emerging infectious diseases in people come from animals. Along with this, well established veterinary medical infrastructure, ongoing technological advancements, surge in R&D activities are contributing to the market growth.

Asia Pacific is expected as the fastest growing region during a forecast period.

While the Veterinary Rapid Test market is on a high growth trajectory in developed regions, in developing regions it is witnessed to be growing at a promising growth rate of xx%. APAC region accounted for more than 15% share of the total market followed by ELISA tests and PCR tests, which accounted for a majority of revenue share in region. Coupled with this, rising prevalence of animal disorders, various initiatives undertaken by government for animal welfare and large livestock animal pool is driving the market growth in region.

The report also helps in understanding the Global Veterinary Rapid Test Market dynamics, structure by analyzing the market segments and project the Global Veterinary Rapid Test Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Veterinary Rapid Test Market make the report investor’s guide.
Global Veterinary Rapid Test Market Scope: Inquire before buying

Global Veterinary Rapid Test Market3
By Region:

• North America
• Europe
• South America
• MEA
• APAC
Key Players Operating in the Global Veterinary Rapid Tests Market:

• Abaxis
• BioNote, Inc.
• Biopanda Reagents Ltd.
• Fassisi GmbH
• Heska Corporation
• IDEXX Laboratories, Inc.
• LifeAssays AB
• MEGACOR Diagnostik GmbH
• SWISSAVANS AG
• Virbac
• Woodley Equipment Company
• Zoetis, Inc.
• Dutch Diagnostics BV
• CorisBioconcept
• SafePath Laboratories, LLC
• Chembio Diagnostic Systems, Inc.
• Biosynex Group
• NTBIO Diagnostics Inc.

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