DUBLIN, August 05, 2021--(BUSINESS WIRE)--The "Animal Pregnancy Test Kit Market - Growth, Trends, Covid-19 Impact, And forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The animal pregnancy test kit market is expected to grow with an estimated CAGR of 4.5 % over the forecasts period.
In the COVID-19 pandemic, many veterinary organizations, such as the World Veterinary Association, focusing on animal health to meet the demand for food, medicines, essentials, vaccines, testing, and diagnostics tools. Indeed, many veterinarians and livestock owners failed to obtain essential veterinary services, including routine health check-ins, drugs, vaccines, and testing and diagnostic tools due to the lockdown and travel restriction. Supply disruption of animal healthcare products and medicine shortage had been observed in several countries. The government has taken several measures to mitigate the supply of medicines.
Such as, in July 2020, the Centers For Disease Control And Prevention recommended certain guidelines to the veterinary professionals for routine health check-in. To fill the void left by supply disruptions, the "Health for Animal" has taken an initiative to supply 90% of the world's veterinary supplies such as veterinary diagnostic kits and veterinary medicine and it also ensures that there is no scarcity of veterinary supplies in the United States and Europe. Thus, owing to the aforementioned factors, COVID-19 is likely to have profound impact on the market studied.
The animal pregnancy test kits market is largely driven by rising pets adoption. According to the 2019-20 National Pet Owner Survey by the America Pet Product Association, around 85% of households had a pet and 30% of Americans adopt the pet during COVID-19.
Additionally, rising veterinary care spending, a growing focus on animal health, and the rise in availability of test kits drive the market over the forecasts period. For instance, in 2020, animal healthcare spending in the United States was USD 103.6 billion, up from USD 90.5 billion the previous year. As animal healthcare expenditure is increased, the demand for animal pregnancy test kits is expected to rise.
However, the high cost for the animal pregnancy test kits and low expenditure on animal healthcare products in under-developed countries is anticipated to restrain the growth of the market studied over the forecasts period.
The market for animal pregnancy test kits is fiercely competitive, with a slew of players from across the world. Major companies have a focus on several business strategies such as research and development, merger and acquisition, and regional expansion and collaborative research initiatives to gain a competitive edge. Many global players are expected to be part of the animal pregnancy test kit over the forecasts period.
Some of the major players of the market are IDEXX, Fassisi, Biotracking, Zoetis services, and Thermo Fisher Scientific.
Key Topics Covered:
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Adoption of Pets
4.2.2 Growing Focus on Animal Health and Rising Veterinary Expenditure
4.3 Market Restraints
4.3.1 High Cost of Animal Pregnancy Testing Kits
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product Types
5.1.1 Pregnancy Test Kits Cassettes
5.1.2 Pregnancy Test Kits Strips
5.1.3 Enzymes- Linked Immunoassay Test Kits
5.2 By Distribution Channel
5.2.1 Veterinary Hospital & Clinics
5.2.2 Retail Stores
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IDEXX Laboratories.
6.1.3 Bio Tracking
6.1.4 Zoetis services
6.1.5 Thermo Fisher Scientific
6.1.7 Bio Rad Laboratories
6.1.8 Indical Bioscience
6.1.9 Agolab SpA
6.1.10 Neogen Corporation
6.1.11 BioNote Incorporation
6.1.12 Heska Corp
6.1.13 Randox Laboratories Limited
6.1.14 Toco Diagnostics
6.1.15 Virbac SA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/8zz5yu
View source version on businesswire.com: https://www.businesswire.com/news/home/20210805005594/en/
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