Selbyville, Delaware, May 17, 2023 (GLOBE NEWSWIRE) —
Veterinary Rapid Tests Market size is expected to surpass USD 1.5 billion by 2032, according to a new research report by Global Market Insights Inc.
The veterinary rapid test industry is experiencing significant growth driven by the increasing prevalence of diseases in livestock animals, technological advances, and the rising demand for cost-effective and accurate diagnostic solutions. With the constant increase in the progression of meat and dairy products, maintaining the health of livestock animals has become crucial. Additionally, technological advancements such as portable diagnostic devices and improvements in test accuracy, have made veterinary rapid tests more accessible and reliable, further driving the market gains.
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Rapid test readers to dominate industry outlook
The veterinary rapid tests market has been categorized into kits and readers. The veterinary rapid test readers market will grow sizably through 2032 owing to the need for efficient and accurate diagnostic solutions for livestock animals. These test readers offer quick results, enabling veterinarians to make informed decisions about the treatment and management of various animal diseases. The increasing prevalence of infectious diseases, such as foot-and-mouth disease, avian influenza, and bovine viral diarrhea, is spurring the product value.
Livestock animals segment to generate prominent revenue
The veterinary rapid tests industry is segregated based on animals into livestock animals and companion animals. The livestock animal segment will hold a significant share of the market by 2032. Cattle, pigs, and poultry require regular monitoring and testing to ensure good health and prevent the spread of diseases as a result of regulatory compliance and quality assurance rules set by government bodies and food safety organizations. Moreover, the rising demand for animal-derived products is driving the need for the health and well-being of these animals, boosting segment expansion further.
Browse key industry insights spread across 335 pages with 558 market data tables & 19 figures & charts from the report, “Veterinary Rapid Tests Market Size By Product Type (Kits, Readers), By Test (Antigen, Antibody, Mixed), By Disease Application (Viral, Parasitic, Bacterial, Allergies), By Animal Type (Companion [Dogs, Cats, Horses], Livestock [Cattle, Swine, Poultry]), By Sample Type (Blood, Feces, Serum, Plasma, Urine), By End-user (Homecare Settings, Veterinary Hospitals, Veterinary Clinics) – Global Forecast to 2032” In detail along with the table of contents:
https://www.gminsights.com/industry-analysis/veterinary-rapid-tests-market
Europe to hold a significant revenue share
Europe veterinary rapid tests industry will depict remarkable growth by 2032. The increasing prevalence of diseases in livestock animals and stringent regulations governing animal health and welfare are promoting the use of veterinary rapid tests. For instance, in December 2022, Europe launched Horizon Europe Framework Program to invest in partnerships for animal health and welfare. In addition, the growing awareness among farmers regarding the importance of timely diagnosis and treatment is also contributing to regional market progress.
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Major Veterinary Rapid Tests Market Players
Some of the key players profiled in the veterinary rapid tests industry report include Zoetis, Inc., Heska Corporation, IDEXX Laboratories, Inc., Woodley Equipment Company, Ltd., Thermo Fisher Scientific Inc., Fassisi GmbH, Biopanda Reagents Ltd., Swissavans AG, BioNote, Inc., Virbac, and MEGACOR Diagnostik GmbH, among others.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Veterinary rapid tests industry 3600 synopsis, 2018 – 2032 (USD Million)
2.2 Business trends
2.2.1 Product type trends
2.2.2 Test type trends
2.2.3 Application trends
2.2.4 Animal type trends
2.2.5 Sample type trends
2.2.6 End-user trends
2.2.7 Regional trends
Chapter 3 Veterinary Rapid Tests Industry Insights
3.1 Industry landscape, 2018 – 2032 (USD Million)
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Growing number of companion animal population
3.2.1.2 Increasing prevalence of zoonotic diseases in animals
3.2.1.3 Rising demand for rapid test diagnosis over other tests
3.2.1.4 Increasing pet ownership
3.2.2 Industry pitfalls & challenges
3.2.2.1 Limited number of infrastructures for veterinary diagnosis
3.2.2.2 Lack of awareness for veterinary health in underdeveloped countries
3.2.2.3 Increasing cost of animal healthcare
3.3 Growth potential analysis
3.3.1 By product type
3.3.2 By test type
3.3.3 By application
3.3.4 By animal type
3.3.5 By sample type
3.3.6 By end-user
3.4 COVID-19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Porter’s analysis
3.7 PESTEL analysis
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.