{"id":684250,"date":"2024-01-10T23:50:01","date_gmt":"2024-01-10T23:50:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=684250"},"modified":"2024-01-10T23:50:01","modified_gmt":"2024-01-10T23:50:01","slug":"veterinary-rapid-tests-kits-market-to-reach-118-billion-by-2028-growth-trend-competitive-analysis-20222028-arizton","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/veterinary-rapid-tests-kits-market-to-reach-118-billion-by-2028-growth-trend-competitive-analysis-20222028-arizton_684250.html","title":{"rendered":"Veterinary Rapid Tests Kits Market to Reach $1.18 Billion by 2028 – Growth, Trend, Competitive Analysis 2022-2028 – Arizton"},"content":{"rendered":"
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Veterinary Rapid Test Kits Market Research Report by Arizton<\/div>\n<\/div>\n<\/div>\n
North America held the most extensive global veterinary rapid test kits market share, accounting for over 41% of revenue in 2022.<\/div>\n

According to Arizton’s latest research report, the veterinary rapid test kits market<\/a> is growing at a CAGR of 8.53% during 2022-2028.  <\/p>\n

To Know More, Download the Free Sample Report: https:\/\/www.arizton.com\/request-sample\/4034<\/a> <\/p>\n

The global veterinary rapid test kits market has witnessed several significant mergers and acquisitions in recent years, positively impacting market growth. Companies engaged in veterinary diagnostics continuously implement strategies that aid in high development, revenue generation, product expansion, high market penetration, and increased geographical presence. For vendors, acquisitions offer a huge revenue growth opportunity by strengthening their market expansion and product and services portfolio extension. <\/p>\n

Apart from vendors, animal health authorities also partner and collaborate with various animal care organizations. In 2021, the Louisiana Animal Disease Diagnostic Laboratory partnered with the Louisiana Office of Public Health & CDC to provide free COVID-19 testing for cats and dogs. <\/p>\n

Expansion of Veterinary RDTs for Non-infectious Diseases Creating Huge Market Opportunities  <\/p>\n

The widening application of rapid veterinary test kits for the diagnosis of various health conditions offers high market growth opportunities. For example, several vendors provide veterinary RDTs for allergy detection. For instance, the ACON Laboratories company, a pioneer in manufacturing veterinary rapid test kits, offers blood glucose and ketone-detecting veterinary rapid test kit strips that deliver results in 5 to 10 seconds. This development can help to detect diabetes in dogs and cats. Cats are highly prevalent for diabetes. Currently, the estimated prevalence of diabetes in cats is around 1 in 200 cats. Even though the majority has been lower in recent years, the increasing pet ownership for cats is expected to deliver revenue growth opportunities. On the other hand, the diabetes prevalence in dogs has reached 23.6 canine cases per 10,000 in 2023. Diabetes is more common in female dogs.  <\/p>\n

Looking for Customization? Click: https:\/\/www.arizton.com\/customize-report\/4034<\/a> <\/p>\n

Market Trends & Drivers  <\/p>\n

Rising Expenditure on Animal Well-being Animals are highly prevalent for zoonotic disorders that can increase severe health impacts on human beings. Livestock animals are a source of food and essential nutrients. On the other hand, pets are considered part of families. Both factors result in increased expenditure on animal well-being. Furthermore, the increasing support from the government for livestock animal healthcare and well-being positively influences the veterinary rapid test kits industry growth. <\/p>\n

Rapidly Growing Pet Ownership Among pet animals, dogs and cats are highly popular and most adopted by people. In the past three decades, pet ownership has increased significantly. During the COVID-19 pandemic, people spent more time at home and got bored more deeply with their pets. Dogs and cats have become a part of families in several geographies.\u202fAccording to the Human Animal Bond Research Institute survey in recent years, pet ownership is overwhelming by 86% worldwide, and owners ready to pay for their pets need extensive veterinary care.\u202fFurther, millennial households, which are smaller families, prominently increase pet ownership. In addition, the expanding middle class in emerging markets is increasing the pet population. Most pet owners stated that pets improve heart health, reduce depression and anxiety, and have many advantages. <\/p>\n

Veterinary Rapid Test Kits Market Dynamics\u202f <\/p>\n

Drivers\u202f <\/p>\n

Rise in Expenditure on Animal Well-being <\/p>\n

Burden of Zoonotic Diseases <\/p>\n

Rapid Growth in Pet Ownership <\/p>\n

Opportunities <\/p>\n

Recent Mergers & Acquisitions Changed Market Landscape <\/p>\n

Shift toward POCT in Animals for Early Disease Diagnosis & Prevention <\/p>\n

Expansion of Veterinary RDTs for Non-infectious Diseases <\/p>\n

Challenges\u202f <\/p>\n

Vaccination & Care Programs for Animals <\/p>\n

Limitations Associated with Veterinary RDT <\/p>\n

Available Alternative Testing & Diagnosis Methods <\/p>\n

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Post-Purchase Benefit\u202f\u202f\u202f\u202f\u202f\u202f\u202f\u202f\u202f\u202f\u202f\u202f\u202f\u202f\u202f\u202f\u202f\u202f\u202f <\/p>\n