|
|
Home | Submit Press Release | Advertise | Submit Website
(CityRegions.Com, May 19, 2020 ) 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. The increasing prevalence of zoonotic diseases among companion and livestock animals and the growing need for the rapid detection of these diseases are the major factors driving the growth of this market.
“By product, the rapid test kits segment is expected to dominate the market in 2019.”
On the basis of product, the veterinary rapid tests market is segmented into rapid test kits and rapid test readers. Rapid test kits is expected to account for the largest market share in 2019. The large share of this segment can be attributed to the increasing demand for fast detection of diseases, growing prevalence of animal zoonotic diseases, and growing companion animal population worldwide.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=117784882
“By application, the parasitic diseases segment is expected to grow at the highest CAGR during the forecast period.”
Based on application, the veterinary rapid tests market has been segmented into viral diseases, bacterial diseases, parasitic diseases, allergies, and other applications. The parasitic diseases segment segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment can be attributed to the increasing prevalence of parasitic diseases and rising demand for quality parasitology testing services.
“North America to hold the largest regional market share in 2019.”
North America is expected to account for the largest share of the veterinary rapid tests market in 2019, followed by Europe. The large share of North America can be attributed to the increasing companion animal population, rising animal healthcare expenditure, increasing awareness about animal diseases, growing number of veterinary practitioners, and the growing pet insurance market. In addition, the rise in the prevalence of zoonotic diseases and the need for the rapid detection of these diseases is further expected to propel the market in the coming years.
The prominent players in this market are Zoetis, Inc. (US), IDEXX Laboratories, Inc. (US), Heska Corporation (US), Biopanda Reagents Ltd. (UK), Fassisi GmbH (Germany), Virbac (France), BioNote, Inc. (South Korea), SWISSAVANS AG (Switzerland), MEGACOR Diagnostik GmbH (Austria), and Woodley Equipment Company (UK).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
|
|
