Veterinary Rapid Diagnostic Tests Professional Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Veterinary rapid diagnostic tests are medical diagnostic tests that are easy and quick to perform. These tests can be used for various pets and livestock at home and are more accurate than presumptive diagnoses. These rapid test kits can provide efficient detection of pathogens in a short duration of time, around 5 minutes to 15 minutes, so that the treatment can be given immediately without waiting for the microscopic results. A variety of veterinary rapid diagnostic tests are available that can be used depending upon the type of antigens. These are cost-effective and accurate rapid point of care diagnostic tests. The specificity of these rapid tests ranges from 90% to 100%, while sensitivity ranges from 85% to 90%.

MARKET SCOPE

The "Global Veterinary Rapid Diagnostic Tests Professional Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the veterinary rapid diagnostic tests professional market with detailed market segmentation by product, application, and geography. The report provides key statistics on the market status of the leading veterinary rapid diagnostic tests professional market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•  Based on product, the global veterinary rapid diagnostic tests professional market is segmented into canine test kits, feline test kits and livestock test kits.
  
•  Based on application, the market is segmented into reference laboratories, veterinary hospitals and clinics.
  

MARKET DYNAMICS

Drivers:

•  Increase in awareness about veterinary health.
  
•  Rise in the number of veterinary practitioners.
  
•  Rise in investments in the R&D activities.
  
•  Increase in technological advancements in the veterinary rapid diagnostic tests.
  

Restraints:

•  Lack of reimbursement.
  
•  Lack of awareness about animal health among pet owners in low-income countries.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The veterinary rapid diagnostic tests professional market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the veterinary rapid diagnostic tests professional market in these regions.

IMPACT OF COVID-19 ON VETERINARY RAPID DIAGNOSTIC TESTS PROFESSIONAL MARKET

COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The coronavirus outbreak caused a worldwide economic crisis. All the industrial manufacturing operations were halted due to the restrictive measures, lockdown, and business shutdown. The shutdown of various plants and factories affected the worldwide supply chains and negatively impacted the market's manufacturing, products sale, and delivery schedules. Although, there was an increase in pet adoption due to social isolation, and a greater emphasis was given on vet point of care diagnostics as a preventive measure in order to avoid future pandemic or zoonotic outbreaks. Hence, the market is expected to witness growth in demand in the future.

MARKET PLAYERS

The report covers key developments in the veterinary rapid diagnostic tests professional market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from veterinary rapid diagnostic tests professional market are anticipated to have lucrative growth opportunities in the future with the rising demand for veterinary rapid diagnostic tests professional in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the veterinary rapid diagnostic tests professional market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•  Heska Corporation
  
•  Zoetis
  
•  Fassisi
  
•  BioNote
  
•  NTBIO Diagnostics
  
•  Dutch Diagnostics
  
•  Abaxis
  
•  Coris Bioconcept
  
•  SafePath Laboratories
  
•  Chembio Diagnostic Systems
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Veterinary Rapid Diagnostic Tests Professional Report Scope