Pune, India -- (SBWire) -- 12/18/2019 --The Infinium Global Research analyzes the "Veterinary Rapid Test Market(Product Type - Rapid Test Kits, and Rapid Test Readers; Application - Bacterial Diseases, Allergies, Viral Diseases, Parasitic Diseases, and Other Applications; End User - Clinics, Veterinary Hospitals, and Reference Laboratories): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025."
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Efficient Test Kits and Other Products Creates Opportunities for the Growth of Veterinary Rapid Test Market During the Forecast Period
The growing incidence of zoonotic diseases in domestic animals and the growing need for the rapid detection of these diseases are the major factors driving the growth of this market. Some of the most commonly occurring zoonotic diseases are Rabies, Ebola Virus Disease, Q fever, and others. Therefore, an increase in healthcare expenditure, growth in the demand of the animal product, rise in pet adoption rate, and the increasing number of veterinary practitioners are the key factors that will drive the overall veterinary rapid diagnostic test market.
However, the high cost of veterinary testing and complications associated with the tests is expected to hamper the growth of the veterinary rapid test market. Moreover, raising awareness about animal healthcare and increasing demand for efficient test kits and other products creates opportunities for the growth of veterinary rapid test market during the forecast period.
Rapid Test Kits are Expected to Have Maximum Market Share Due to Increasing Demand for Fast Detection of Diseases
The report on the veterinary rapid test market covers segments based on product type, applications, and end-user. By product type, the market is categorized into rapid test kits and rapid test readers. Rapid test kits are expected to have maximum market share due to increasing demand for fast detection of diseases, growing incidence of animal zoonotic diseases, and growing companion animal population worldwide.
Furthermore, based on applications, the veterinary rapid test market is segmented into bacterial diseases, allergies, viral diseases, parasitic diseases, and other applications. By end-user, the market is divided into Clinics, Veterinary hospitals, Reference laboratories.
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Asia-Pacific is Expected to Be the Fastest Growing Veterinary Rapid Test Market in the Forecast Period
The veterinary rapid test market is segmented regionally into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Geographically, North America is leading the veterinary rapid test market due to the rapidly increasing animal population, increasing awareness about animal diseases, rising animal healthcare expenditure, growing number of veterinary physicians, and the growing pet insurance market.
The Asia Pacific is expected to be the fastest-growing veterinary rapid test market in the forecast period due to the increase in the awareness among the people and technological advancement of sensitive veterinary rapid diagnostic kits.
Veterinary Rapid Test Market: Competitive Analysis
The leading players in veterinary rapid test markets are Zoetis, Inc., Heska Corporation, IDEXX Laboratories, Inc., BioNote, Inc., Fassisi GmbH, MEGACOR Diagnostik GmbH, SWISSAVANS AG, Biopanda Reagents Ltd., Woodley Equipment Company and other companies. Zoetis, a leading animal health company acquired Abaxis which is a leading global provider of veterinary point-of-care diagnostic instruments, to support veterinarians with inclusive solutions to predict, prevent, detect and treat diseases in animals.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the veterinary rapid test.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
