Veterinary Rapid Diagnostic Tests Market by Product (Kits, Readers), Condition (Viral, Parasitic, Bacterial Infections), Animal (Companion [Dogs, Cats], Livestock), and End User (Clinics & Hospitals, Reference Labs, Home Testing) - Global Forecast to 2030

Veterinary Rapid Diagnostic Tests Market by Product (Kits, Readers), Condition (Viral, Parasitic, Bacterial Infections), Animal (Companion [Dogs, Cats], Livestock), and End User (Clinics & Hospitals, Reference Labs, Home Testing) - Global Forecast to 2030

Veterinary Rapid Diagnostic Tests Market by Product (Kits, Readers), Condition (Viral, Parasitic, Bacterial Infections), Animal (Companion [Dogs, Cats], Livestock), and End User (Clinics & Hospitals, Reference Labs, Home Testing)— Global Forecast to 2030

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).

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
(The other conditions segment covers metabolic diseases and ailments, pregnancy tests, and optimum breeding time).

Veterinary Rapid Diagnostic Tests Market Assessment, by Animal Type

Companion Animals
Dogs
Cats
Other Companion Animals
(The other companion animal segment covers rabbits, birds, fish, reptiles, and other small 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 & AfricaVeterinary Rapid Diagnostic Tests Market - Report SummaryReport MetricsDetailsYears Considered2021 - 2030Base Year2022Forecast Period2023-2030Page Count181Units ReferencedValue (USD Million)Segments/Key TopicsMarket by Product, Animal Type, Condition, and End UserRegions CoveredNorth America, Europe, Asia-Pacific, Latin America, and Middle East & AfricaKey Companies MentionedIDEXX 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).

FAQs About the Report

What is the focus of the veterinary rapid diagnostic tests market study?

The veterinary rapid diagnostic tests market report covers market sizes & forecasts for the consumables, systems, and software used for animal diagnosis. The market study includes the value analysis of various segments and subsegments of the veterinary rapid diagnostic tests market at the regional and country levels.

What is the revenue generated from the sales of veterinary rapid diagnostic tests and test readers across the globe? At what rate is the demand expected to grow for the next 5–7 years?

The veterinary rapid diagnostic tests market is projected to reach $1.1 billion by 2030, at a CAGR of 8.1% during the forecast period of 2023–2030.

Which product segment is estimated to hold the major share of the market?

Based on product, the rapid test kits segment is expected to account for the largest share of the veterinary rapid diagnostic tests market in 2023. Moreover, this segment is expected to record the highest CAGR during the forecast period.

Which disease segment is projected to gain more traction in the global veterinary rapid diagnostic tests market?

Based on disease, the viral diseases segment is projected to gain more traction in the veterinary rapid diagnostic tests market.

What are the key factors supporting the growth of this market? Also, what are the major opportunities for existing market players and new entrants in the global veterinary rapid diagnostic tests market?

The growth of the veterinary rapid diagnostic tests market is mainly 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. Moreover, emerging markets and increasing pet ownership are expected to offer significant market growth opportunities.

Who are the major players operating in the global veterinary rapid diagnostic tests market?

The key players operating in the veterinary rapid diagnostic tests market are 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), and BioNote, Inc. (South Korea).

Which regions/countries are likely to offer significant growth opportunities for the vendors in this market during the analysis period?

The emerging countries from Asia-Pacific are expected to offer significant growth opportunities for the vendors in this market due to the growing pet ownerships, large populations of livestock animals and the rising incidence of various diseases in animals.