Global Veterinary Rapid Test Market Expected to Reach USD 1030.43 Million by 2026

27-Feb-2020 | Facts and Factors

Findings from Facts and Factors report “Veterinary Rapid Test Market By Product Type (Rapid test kits and Rapid test readers), Animal Type (Canine, Feline, Cattle, and Others), Application (Viral diseases, Bacterial diseases, Parasitic diseases, and Others) and Regions: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global veterinary rapid test market in 2019 was approximately USD 583.84 Million. The market is expected to grow at a CAGR of 8.48% and is anticipated to reach around USD 1030.43 Million by 2026.

The veterinary rapid test refers to the various diagnostic tests in cats, dogs, and cows in order to assist the diagnosis of a variety of health disorders and to get their results. Increasing incidences of zoonotic disease area major factor driving the growth of the global veterinary rapid test market. Additionally, growing awareness among individuals across the globe regarding animal health is another factor propelling the growth of the target market.

Browse the full “Veterinary Rapid Test Market By Product Type (Rapid test kits and Rapid test readers), Animal Type (Canine, Feline, Cattle, and Others), Application (Viral diseases, Bacterial diseases, Parasitic diseases, and Others) and Regions: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/veterinary-rapid-test-market-by-product-type-rapid

Furthermore, increasing companion animal population is anticipated to boost the growth of the target market in the near future. Moreover, rapid tests offer advantages over counterparts which are supporting the growth of the target market. Also, the growing adoption of animal-derived food products is another factor expected to boost target market growth over the forecast period. However, lack of awareness regarding veterinary rapid test in the emerging economies is a major factor restraining the growth of the global veterinary rapid test market. Never less untapped developing economies can create lucrative growth opportunities for the key operating players in the global market. 

The veterinary rapid test market is segmented based on the animal type, product type, and application. On the basis of product type segmentation, the market is classified into rapid test kits and rapid test readers. Based upon the animal type the target market is classified into canine, feline, cattle, and others. On the basis of application, the global veterinary rapid test market is bifurcated into bacterial diseases, viral diseases, parasitic diseases, and others.

Based upon the region the global market has been categorized as North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America is expected to dominate in the global market in terms of revenue as compared to that of markets in other regions during the forecast period 2019-2026. This is attributed to the growth in pet ownership, coupled with growing expenditure and awareness of animal health in the countries especially in the U.S. of this region. Growing government funding for research is supporting the growth of the market in the region. Europe is expected to hold the second-largest share and Asia Pacific is anticipated to grow at significant CAGR in the near future.

Key players operating in the veterinary rapid test market not restricted to include Chembio Diagnostic Systems, Abaxis, Dutch Diagnostics, CorisBioconcept, SafePath Laboratories, Biosynex, NTBIO Diagnostics amongst, BioNote, Zoetis, LifeAssays, and Fassi. Major companies in the global veterinary rapid test market are focusing on the strategic partnerships and launches of innovative products.

Report Scope

This report segments the veterinary rapid test market as follows:

Global Veterinary Rapid Test Market: By Product Type Segmentation Analysis

• Rapid test kits
• Rapid test readers

Global Veterinary Rapid Test Market: By Animal Type Segmentation Analysis

• Canine
• Feline
• Cattle
• Others

Global Veterinary Rapid Test Market: By Application Segmentation Analysis

• Viral diseases
• Bacterial diseases
• Parasitic diseases
• Others

Global Veterinary Rapid Test Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• The Middle-East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle-East Africa

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