Veterinary Rapid Tests Market Report 2021: Technology, Application, Types, End-User, Geography, Competitive Analysis and the Impact of Covid-19 with Analysis 2021-2030

In a recently published report, Veterinary Rapid Tests Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Veterinary Rapid Tests Market products.

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Veterinary Rapid Tests Market is valued approximately at USD 529.1 million in 2018 and is anticipated to grow with a healthy growth rate of more than 8.30% over the forecast period 2019-2026. Veterinary rapid tests are mainly designed for preliminary screening of animals such as cat, dogs, bovine and cattle. These rapid test kits are able to offer efficient detection of pathogens in a short duration of time around 5-10 minutes. Further, increasing prevalence of zoonotic diseases such as Ebola virus disease and salmonellosis among livestock and companion animals along with the growing need for the rapid detection of these diseases has led towards the adoption of elemental analysis. For Instance, as per the International Livestock Research, zoonotic diseases are major obstacles in the pathway out of poverty for one billion livestock keepers. Thus, the demand and adoption of the veterinary rapid tests would increase thereby, aiding the growth of the market. However, low animal healthcare awareness and limited animal diagnostic infrastructure in several countries is beholding the confidence of users towards purchase of veterinary rapid tests globally.

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The regional analysis of global Veterinary Rapid Tests Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the introduction of pet insurance policies by the government to promote animal healthcare along with the increase in the number of veterinary doctors and animal healthcare service providers.
Whereas, Asia-Pacific is anticipated to emerge as the fastest growing market region during the forecast period 2019-2026. Factors such as increasing awareness about animal health, growth in pet adoption, and growing per capita animal health expenditure, especially in India and China would create lucrative growth prospects for the Veterinary Rapid Tests Market across Asia-Pacific region.

Major market player included in this report are:
IDEXX Laboratories, Inc.
Zoetis, Inc.
Virbac
Heska Corporation
Biopanda Reagents, Ltd.
Fassisi GmbH
BioNote, Inc.
SWISSAVANS AG
MEGACOR Diagnostik GmbH
Woodley Equipment Company, Ltd.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Rapid Test Kits
Rapid Test Readers

By Application:
Viral Diseases
Bacterial Diseases
Parasitic Diseases
Allergies
Other Applications

By Animal Type:
Companion Animals
Livestock Animals

By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016-,2017
Base year – 2018
Forecast period – 2019 to 2026

Target Audience of the Global Veterinary Rapid Tests Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Investors

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