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Allied Market Research

Veterinary Rapid Test Market - Global Opportunity Analysis and Industry Forecast, 2020–2027

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Aug 2021 | 353 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Veterinary rapid tests are defined as the teststhat are used for screening of animals like cats, dogs, cattle and bovine. These tests are done by placing a sample of specimen on device. The results are obtained once when antibody-antigen interact with each other then there is formation of a visible indicator as a result on the device. Rapid test kit provides the efficiency in detecting pathogens in less turn-around time. Rapid tests are used for testing viral diseases such as rabies, feline heartworm and canine, feline leukemia virus, canine distemper virus, avian influenza and swine.

Veterinary rapid tests are easy to perform and quick. These tests are more accurate as compared to other testing and can be done at home. Veterinary rapid tests give immediate result which results into immediate treatment. These tests do not need expensive equipment and people can learn it for their pets within hours. Veterinary rapid tests are used to do experiments which can control the factor which affects biological system or behavior of animal. It is focused on finding a specific treatment for any disease.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021-2027

  Forecast units

  Value ($USD)

  Segments covered

  Animal, Product and Application

  Geographies covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

  Companies covered

Zoetis, IDEXX Laboratories, Heska Corporation, Biopanda Reagents Ltd, Fassisi GmbH, Virbac, BioNote, SWISSAVANS AG, MEGACOR Diagnostik GmbH and Woodley Equipment Company

 

COVID-19 scenario analysis:

The coronavirus pandemic is having a huge impact on businesses and has already caused an unprecedented collapse of economic activities. The COVID-19 impact is straining the healthcare systems globally. The rapidly increasing demand for healthcare facilities and healthcare workers may leave only a few healthcare systems to fulfill the increasing demand during the pandemic situation.

The COVID-19 pandemic cases are because of direct or indirect contact between humans. There has been no evidence or confirmation that animals can spread COVID-19 to humans. The myth animals can spread the virus to humans has increased the number of abandoned pets. Furthermore, COVID-19 has weakened the supply chain and has created shortage of animal health products such as nutritional feed as well as vaccines globally. The animal health industry has been impacted largely as many manufacturers in animal health industry are left with a significantly reduced workforce. Also, stringent government policies such as restrictions of import of raw materials from China are expected to hamper the animal health market.

Healthcare facilities are stocking up the animal related health products, considering the high demand. This is expected to further create financial strain on the market due to procurement inefficiencies and wasted speeding. Due to the pandemic situation, many hospitals and veterinary clinics are overstocking the products.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Veterinaryrapid diagnostic test provides the facility of testing livestock and pets and provides the kits for testing many viruses likerabies,feline heartworm and canine, feline leukemia virus, canine distemper virus, avian influenza and swine. It is found that almost 2.0 million methods were used on animals to protect them from viruses and the number is increasing with time. The number of skilled veterinary doctors is also increasing with timeand technological advancement in the testing instruments are the major factors that are influencing the growth of the veterinary rapid diagnostic test market. The increase in the prevalence of zoonotic diseases among animals and need for detection of these diseases in driving the growth.

The number of clinics and veterinary hospitals is also increasing due to which market is growing. There is rise in the demand for animal health insurance and the adoption of animals is increasing is also increasing with time. Government is taking initiatives to reduce viral diseases among animals which lead to growth of the veterinaryrapid diagnostic test. And, the launch of new product with more innovation makes a positive impact on the growth.

Key segments covered:

Segments

Sub-segments

  Product

  • Rapid Test Kits
  • Rapid Test Readers

  Animal

  • Companion Animals
  • Dogs
  • Cats
  • Horse
  • Other Companion Animals
  • Livestock Animals
  • Cattle
  • Pigs
  • Poultry
  • Other Livestock Animals

Application

  • Viral Diseases
  • Bacterial Diseases
  • Parasitic Diseases
  • Allergies
  • Other Applications

 

Key benefits of the report:

  • This study presents the analytical depiction of the global veterinary rapid test market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global veterinary rapid test market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the veterinary rapid test market research report:

  • Who are the leading market players active in the veterinary rapid test market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What can be the challenges for the global veterinary rapid test market in future?
  • What are the projections for the future that will help in taking further strategic steps?
 
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