Global Veterinary Rapid Test (Viral, Bacterial, Parasite, Allergies) Market 2019-2024

News provided by

May 28, 2019, 13:15 ET

DUBLIN, May 28, 2019 /PRNewswire/ -- The "Veterinary Rapid Test Market by Product (Rapid Test Kit, Rapid Test Readers), Application (Viral, Bacterial, Parasite, Allergies), and Animal Type (Companion (Cat, Dog, Horse), Livestock (Cattle, Swine, Poultry)) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global veterinary rapid tests market is projected to reach USD 854 million by 2024 from USD 573 million in 2019, at a CAGR of 8.3% during the forecast period.

Growth in this market is driven by the increasing prevalence of zoonotic diseases among companion and livestock animals and the growing need for the rapid detection of these diseases.

By application, the viral diseases segment accounted for the largest market share of the market.

On the basis application, the veterinary rapid tests market has been segmented into viral diseases, bacterial diseases, parasitic diseases, allergies, and other applications. The viral diseases segment is excepted to account for the largest share of the veterinary rapid tests market in 2019. The large share of this segment can be attributed to the rising incidence of zoonotic diseases, growing prevalence of infectious diseases in farm animals, and growing pet health awareness among owners.

The companion animals segment is expected to grow at the highest CAGR during the forecast period.

On the basis of animal type, the veterinary rapid tests market is segmented into companion and livestock animals. The companion animals segment is expected to witness the highest CAGR, owing to the increasing companion animal ownership, growing awareness about animal health among pet owners, and rising pet healthcare expenditure. The companion animals segment is further segmented into dogs, cats, horses, and other companion animals, such as rabbits, birds, and reptiles. In 2019, the market for dogs accounted for the largest share of the veterinary rapid tests market for companion animals.

APAC is projected to witness the highest growth during the forecast period.

North America is expected to account for the largest share of the global veterinary rapid tests market in 2019. On the other hand, the Asia Pacific market is expected to witness the highest growth during the forecast period, primarily due to the rapidly increasing animal population, growing adoption of veterinary diagnostic products, and rising demand for animal-derived food products.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Veterinary Rapid Tests: Market Overview
4.2 Veterinary Rapid Tests Market: Geographic Growth Opportunities
4.3 Regional Mix: Veterinary Rapid Tests Market (2019-2024)
4.4 Veterinary Rapid Tests Market: Developed Vs. Developing Markets, 2019 Vs. 2024

5 Industry Insights
5.1 Introduction
5.2 Industry Trends
5.2.1 Adoption of Multiple Disease Testing Panels
5.2.2 Shift of Veterinary Diagnostic Services From Labs to Clinics
5.2.3 Demand for Quantification of Data By Analyzers

6 Market Overview
6.1 Introduction
6.2 Market Dynamics
6.2.1 Drivers
6.2.1.1 Growth in Companion Animal Population
6.2.1.2 Increasing Prevalence of Zoonotic Diseases
6.2.1.3 Advantages of Rapid Tests Over Other Testing Methods
6.2.1.4 Increasing Demand for Animal-Derived Food Products
6.2.2 Opportunities
6.2.2.1 Untapped Emerging Markets
6.2.3 Challenges
6.2.3.1 Low Animal Healthcare Awareness and Limited Animal Diagnostics Infrastructure in Several Countries

7 Veterinary Rapid Tests Market, By Product
7.1 Introduction
7.2 Rapid Test Kits
7.2.1 Growing Prevalence of Animal Zoonotic Diseases and Increasing Demand for Fast Detection of Diseases to Drive the Market Growth
7.3 Rapid Test Readers
7.3.1 Rapid Strip Readers are Not Frequently Used By Veterinary Practitioners as Compared to Human Medicine Practices

8 Veterinary Rapid Tests Market, By Application
8.1 Introduction
8.2 Viral Diseases
8.2.1 Viral Diseases Segment Accounted for the Largest Share of the Veterinary Rapid Tests Market
8.3 Bacterial Diseases
8.3.1 Rapid Tests Help in the Early Detection of Bacterial Diseases in Animals
8.4 Parasitic Diseases
8.4.1 Increasing Prevalence of Parasitic Diseases to Support Market Growth
8.5 Allergies
8.5.1 Increasing Prevalence of Zoonotic Diseases to Drive the Growth of This Market
8.6 Other Applications

9 Veterinary Rapid Tests Market, By Animal Type
9.1 Introduction
9.2 Companion Animals
9.2.1 Dogs
9.2.1.1 Rising Population and Growing Adoption of Dogs as Pets are the Major Factors Supporting Market Growth
9.2.2 Cats
9.2.2.1 Growing Focus on Annual Checkups to Drive the Demand for Rapid Tests for Felines
9.2.3 Horses
9.2.3.1 Growing Equine Health Awareness to Drive Market Growth
9.2.4 Other Companion Animals
9.3 Livestock Animals
9.3.1 Cattle
9.3.1.1 Cattle Segment Dominated the Veterinary Rapid Tests Market for Livestock Animals in 2018
9.3.2 Swine
9.3.2.1 Increasing Consumption of Pork and Growing Incidence of Diseases to Support Market Growth
9.3.3 Poultry
9.3.3.1 Growing Need for the Timely Diagnosis of Diseases to Support Market Growth
9.3.4 Other Livestock Animals

10 Veterinary Rapid Tests Market, By Region

11 Competitive Landscape
11.1 Overview
11.2 Growth Strategy Matrix (2015-2019)
11.3 Market Share Analysis
11.4 Competitive Leadership Mapping
11.5 Competitive Situation and Trends

12 Company Profiles
12.1 IDEXX Laboratories, Inc.
12.2 Zoetis, Inc.
12.3 Virbac
12.4 Heska Corporation
12.5 Biopanda Reagents, Ltd.
12.6 Fassisi GmbH
12.7 BioNote, Inc.
12.8 SWISSAVANS AG
12.9 MEGACOR Diagnostik GmbH
12.10 Woodley Equipment Company, Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/yahcfj

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Laura Wood, Senior Manager
[email protected]

or E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets