The veterinary rapid diagnostic tests market is expected to reach $1.10 billion by 2030, at a CAGR of 8.1% from 2023 to 2030.
Succeeding extensive secondary and primary research and in-depth analysis of the market scenario, the report studies the key industry drivers, restraints, challenges, and opportunities. The growth of the veterinary rapid diagnostic tests market is attributed to the increasing prevalence of zoonotic diseases, the advantages of rapid tests over other testing methods, the growing preference for at-home and farm testing, rising awareness regarding veterinary health and increasing global animal health expenditure, and the increasing demand for animal-derived food products. Furthermore, emerging markets and a surge in pet ownership offers significant growth opportunities for the market.
Based on product, the rapid test kits segment is expected to grow at a faster CAGR during the forecast period. The growth of this segment is attributed to the recurring usage of test kits, the growing prevalence of diseases in animals, and increasing the preference of farmers for at-farm testing. Rapid tests enable near-animal testing, helping farmers avoid transporting large animals to veterinary establishments, which can be expensive and inconvenient. Moreover, the transport of lab samples to the laboratories poses a risk of damaging a sample causing alteration of test results and is time-consuming, depending on the technique used for testing in the laboratory.
Based on condition, the viral infections segment is expected to grow at the highest CAGR during the forecast period. The factors responsible for the growth are increasing viral infection outbreaks in animals, the focus of authorities to monitor and control disease outbreaks in animals globally, and the risk of viral infections of cross-species barrier and infections in humans.
Based on animal type, in 2023, the companion animals segment is expected to account for the largest share of the global veterinary rapid diagnostic tests market. The large share of this segment is attributed to the large population base of pets globally, high awareness regarding regular checkups and testing in pet owners, and increasing pet care expenditure.
Based on end user, in 2023, the veterinary hospitals & clinics segment is expected to account for the largest share of the global veterinary rapid diagnostic tests market. Veterinary hospitals & clinics are preferred and generally the first choice by pet owners and farmers for health checkups and disease testing. The easy accessibility to veterinary hospitals and clinics in developing countries also contributes to the large share of the segment.
An in-depth analysis of the geographical scenario of the veterinary rapid diagnostic tests market provides detailed qualitative and quantitative insights into five major geographies: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, along with the coverage of major countries in each region. In 2023, North America is expected to account for the largest share of the global veterinary rapid diagnostic tests market, while Asia-Pacific is expected to record the highest CAGR during the forecast period. The high growth of the Asia-Pacific veterinary rapid diagnostic tests market is attributed to the large population of livestock animals and the rising incidence of various zoonotic diseases in the region.
Some of the key players operating in the global veterinary rapid diagnostic tests market are EXX Laboratories, Inc. (U.S.), Zoetis Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Woodley Equipment Company Ltd. (U.K.), Virbac (France), Heska Corporation (U.S.), SWISSAVANS AG (Switzerland), Fassisi GmbH (Germany), MEGACOR Diagnostik GmbH (Austria), and BioNote, Inc. (South Korea).
Succeeding extensive secondary and primary research and in-depth analysis of the market scenario, the report studies the key industry drivers, restraints, challenges, and opportunities. The growth of the veterinary rapid diagnostic tests market is attributed to the increasing prevalence of zoonotic diseases, the advantages of rapid tests over other testing methods, the growing preference for at-home and farm testing, rising awareness regarding veterinary health and increasing global animal health expenditure, and the increasing demand for animal-derived food products. Furthermore, emerging markets and a surge in pet ownership offers significant growth opportunities for the market.
Based on product, the rapid test kits segment is expected to grow at a faster CAGR during the forecast period. The growth of this segment is attributed to the recurring usage of test kits, the growing prevalence of diseases in animals, and increasing the preference of farmers for at-farm testing. Rapid tests enable near-animal testing, helping farmers avoid transporting large animals to veterinary establishments, which can be expensive and inconvenient. Moreover, the transport of lab samples to the laboratories poses a risk of damaging a sample causing alteration of test results and is time-consuming, depending on the technique used for testing in the laboratory.
Based on condition, the viral infections segment is expected to grow at the highest CAGR during the forecast period. The factors responsible for the growth are increasing viral infection outbreaks in animals, the focus of authorities to monitor and control disease outbreaks in animals globally, and the risk of viral infections of cross-species barrier and infections in humans.
Based on animal type, in 2023, the companion animals segment is expected to account for the largest share of the global veterinary rapid diagnostic tests market. The large share of this segment is attributed to the large population base of pets globally, high awareness regarding regular checkups and testing in pet owners, and increasing pet care expenditure.
Based on end user, in 2023, the veterinary hospitals & clinics segment is expected to account for the largest share of the global veterinary rapid diagnostic tests market. Veterinary hospitals & clinics are preferred and generally the first choice by pet owners and farmers for health checkups and disease testing. The easy accessibility to veterinary hospitals and clinics in developing countries also contributes to the large share of the segment.
An in-depth analysis of the geographical scenario of the veterinary rapid diagnostic tests market provides detailed qualitative and quantitative insights into five major geographies: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, along with the coverage of major countries in each region. In 2023, North America is expected to account for the largest share of the global veterinary rapid diagnostic tests market, while Asia-Pacific is expected to record the highest CAGR during the forecast period. The high growth of the Asia-Pacific veterinary rapid diagnostic tests market is attributed to the large population of livestock animals and the rising incidence of various zoonotic diseases in the region.
Some of the key players operating in the global veterinary rapid diagnostic tests market are EXX Laboratories, Inc. (U.S.), Zoetis Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Woodley Equipment Company Ltd. (U.K.), Virbac (France), Heska Corporation (U.S.), SWISSAVANS AG (Switzerland), Fassisi GmbH (Germany), MEGACOR Diagnostik GmbH (Austria), and BioNote, Inc. (South Korea).
Scope of the Report:
Veterinary Rapid Diagnostic Tests Market Assessment, by Product
- Rapid Test Kits
- Rapid Test Readers
Veterinary Rapid Diagnostic Tests Market Assessment, by Condition
- Viral Infections
- Bacterial Infections
- Parasitic Infections
- Other Conditions
Veterinary Rapid Diagnostic Tests Market Assessment, by Animal Type
- Companion Animals
- Dogs
- Cats
- Other Companion Animals
- Livestock Animals
Veterinary Rapid Diagnostic Tests Market Assessment, by End User
- Reference Laboratories
- Veterinary Hospitals & Clinics
- At-home/Farm Testing
Veterinary Rapid Diagnostic Tests Market Assessment, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Japan
- China
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
Table of Contents
1. Introduction
2. Research Methodology
4. Market Insights
5. Veterinary Rapid Diagnostic Tests Market Assessment, By Product
6. Veterinary Rapid Diagnostic Tests Market Assessment, By Animal Type
7. Veterinary Rapid Diagnostic Tests Market Assessment, By Condition
8. Veterinary Rapid Diagnostic Tests Market Assessment, By End User
9. Veterinary Rapid Diagnostic Tests Market Assessment, By Geography
10. Competition analysis
11. Company Profiles
12. Appendix
List of Tables
List of Figures
Companies Mentioned
- IDEXX Laboratories Inc. (U.S.)
- Zoetis Inc. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Woodley Equipment Company Ltd. (U.K.)
- Virbac (France)
- Heska Corporation (U.S.)
- SWISSAVANS AG (Switzerland)
- Fassisi GmbH (Germany)
- MEGACOR Diagnostik GmbH (Austria)
- BioNote Inc. (South Korea).
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