Nov 25, 2021, 08:51 EST
Shibuya-ku, Tokyo, Japan, Japan, Nov 25, 2021, 08:51 /Comserve / -- Animal Pregnancy Test Kit Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
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 afforemntioned factors, COVID-19 is likely to have profiund 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.
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Animal health is one of the important components of the livestock business. Such as productive efficiencies of animals drive the demand and supply of the livestock products. To increase the productive efficiencies of animals the government of India launched the program, called the National Artificial Insemination Programme, through which 76 lakh bovine had been inseminated with the semen of high genetic merit bulls. Similarly, in July 2020, artificial insemination coverage had been increased from 30% to 70%. Hence, drive the demand for animal pregnancy test kits as this kit has been increasingly used to check the success of insemination.
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.
Key Market Trends
Enzymes-Linked Immunoassay based Animal Pregnancy Test Kit is Expected to Show Lucrative Growth in the Future
ELISA also called as Enzyme-Linked Immunosorbent Assay used to detect antibodies in the blood and urine. Pregnancy tests are sandwich ELISA that used capillary action to automate the detection of pregnancy hormones such as chorionic gonadotropin and pregnancy-associated glycoprotein (PAG) in urine and serum a high degree of sensitivity.
The presence of PAG in the maternal serum of cows may serve as an indicator of pregnancy from day 28 after artificial insemination onward. Hence, pregnancy could reliably be diagnosed from day 28 onwards in serum and day 150 onwards in milk. However, Alertys, a product from IDEXX, is the most popular product in the ELISA category since it can identify pregnancy after 28 days of artificial insemination.
There are several advantages that ELISA offers, such as its relative simplicity, ease of detection by shining light through the liquid to measure optical density, and the lack of the need for radioisotopes. As a result, the test is extremely reliable, accurate, and sensitive. This is supported by a study conducted by the Nepal Agriculture Research Council in December 2019, which examined the ELISA kit's performance accuracy is 80% with a high sensitivity of 91%. Thus, this segment is expected to show notable growth during the forecast period.
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North America Dominates the Market and Expected to do Same in the Forecasts Period
Geographically, North America is the most lucrative market expected to hold maximum market share in animal pregnancy test kits. Due to certain factors, such as the rising adoption of pets, an increase in the rate of artificial insemination, growing awareness among the livestock owner, the regional market is likely to grow with a significant growth rate.
For instance, According to the Society of Prevention of Cruelty to Animals, North America was reported with a higher adoption rate of pets in the year 2020, and 85% of Americans had pets with the daily adoption of 10-30 pets per day. To increase the population of pets, the livestock owner focused on increase the rate of breeding. Thus, checking the success of breeding increases the demand for animal pregnancy test kits. Also, According to the American Veterinary Medical Association, United States, more than 90% of veterinary hospitals offered insemination services in the year 2019. As the rate of insemination increases, the sales of animal pregnancy test kits are expected to rise over the forecasts period.
Additionally, the increasing collaboration and merger & acquisition between the companies are also expected to contribute to the growth of the market studied. For instance, in August 2020, Elanco Animal Health Inc. acquired Bayer’s Animal Healthcare unit to expand its animal healthcare portfolio. Thus, the above-mentioned factors are likely to boost the regional growth 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.
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