Veterinary Rapid Test Market Trends and Forecast
The future of the global veterinary rapid test market looks promising with opportunities in the veterinary hospital & clinic and homecare setting markets. The global veterinary rapid test market is expected to grow with a CAGR of 8.1% from 2024 to 2030. The major drivers for this market are rising demand for point-of-care testing, growing number of pet owners, and ongoing development of companion diagnostic tests.
• Lucintel forecasts that companion animal will remain larger segment over the forecast period.
• Within this market, veterinary hospital & clinic will remain the larger segment.
• North America is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Veterinary Rapid Test Market
• United States: In the US, companies like IDEXX Laboratories and Zoetis are leading advancements in veterinary rapid testing technologies. IDEXX recently announced the launch of a new rapid test panel for detecting multiple pathogens in companion animals, including dogs and cats. This panel aims to improve diagnostic accuracy and efficiency in veterinary clinics, enhancing the management of infectious diseases. Zoetis has focused on expanding its portfolio of point-of-care diagnostic tests for livestock and companion animals, addressing the increasing demand for rapid and reliable testing solutions. The US government supports these initiatives through regulatory frameworks that promote innovation in veterinary diagnostics and ensure product safety and efficacy.
• Europe: In Europe, Bio-X Diagnostics and Thermo Fisher Scientific have been actively developing rapid test kits for veterinary applications. Bio-X Diagnostics introduced a new line of rapid tests for detecting infectious diseases in livestock, aiming to support early disease detection and control measures in farming communities. Thermo Fisher Scientific has expanded its presence in the European market with advanced molecular and immunodiagnostic solutions for veterinary clinics and research laboratories. Government targets in Europe include promoting sustainable farming practices through improved disease surveillance and control, aligning with advancements in veterinary rapid testing technologies to safeguard animal health and welfare.
• China: ChinaÄX%$%Xs veterinary rapid test market is experiencing growth with companies such as Beijing Wantai Biological Pharmacy and Fapon Biotech investing in the development of rapid diagnostic kits for livestock and companion animals. Beijing Wantai Biological Pharmacy has introduced innovative serological and molecular rapid tests for detecting common pathogens in poultry and swine, addressing food safety concerns and supporting disease control efforts in agriculture. The Chinese government has set targets to enhance the quality and safety of veterinary products through regulatory reforms and investments in research and development, fostering technological innovation in the veterinary sector.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Veterinary Rapid Test Market by Segment
The study includes a forecast for the global veterinary rapid test market by product type, testing type, animal type, end use, and region.
Veterinary Rapid Test Market by Product Type [Value from 2018 to 2030]:
• Test Kits
• Readers
Veterinary Rapid Test Market by Testing Type [Value from 2018 to 2030]:
• Virology
• Parasitology
• Bacteriology
• Clinical Chemistry
• Others
Veterinary Rapid Test Market by Animal Type [Value from 2018 to 2030]:
• Companion Animal
• Production Animal
• Others
Veterinary Rapid Test Market by End Use [Value from 2018 to 2030]:
• Veterinary Hospitals & Clinics
• Homecare Settings
• Others
Veterinary Rapid Test Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Veterinary Rapid Test Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies veterinary rapid test companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the veterinary rapid test companies profiled in this report include-
• Zoetis
• IDEXX Laboratories
• Virbac
• Heska Corporation
• Thermo Fisher Scientific
Recent Development in the Veterinary Rapid Test Market
• IDEXX Laboratories: IDEXX Laboratories has launched the SNAP® Pro Analyzer, a next-generation point-of-care diagnostic platform for veterinary clinics. The SNAP Pro Analyzer integrates with IDEXXÄX%$%Xs extensive portfolio of rapid test kits, offering veterinarians enhanced capabilities for diagnosing infectious diseases, including canine parvovirus, feline leukemia virus, and heartworm. This initiative aims to streamline diagnostic workflows and improve turnaround times for test results, facilitating prompt treatment decisions and better patient care in veterinary practices.
• Zoetis: Zoetis has expanded its portfolio of point-of-care diagnostic solutions with the introduction of the VetScan® Rapid Test portfolio. This includes tests for common veterinary pathogens such as parvovirus, distemper, and leptospirosis in dogs, as well as feline leukemia virus and immunodeficiency virus in cats. Zoetis aims to provide veterinarians with accurate and reliable rapid testing options that support early disease detection and management in companion animals. The company continues to innovate in veterinary diagnostics to address the evolving needs of veterinary professionals worldwide.
• Biogal Galed Labs: Biogal Galed Labs has developed the ImmunoComb® series, a line of rapid tests designed for the detection of infectious diseases in companion animals, livestock, and wildlife. These tests utilize a unique comb-based technology that simplifies sample handling and interpretation, providing veterinarians with rapid and accurate results for diseases such as canine and feline infectious diseases, as well as livestock infections. Biogal Galed Labs focuses on expanding its global presence and enhancing diagnostic capabilities through continuous research and development.
Features of the Global Veterinary Rapid Test Market
Market Size Estimates: Veterinary rapid test market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Veterinary rapid test market size by various segments, such as by product type, testing type, animal type, end use, and region in terms of value ($B).
Regional Analysis: Veterinary rapid test market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product types, testing types, animal types, end uses, and regions for the veterinary rapid test market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the veterinary rapid test market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for veterinary rapid test market?
Answer: The global veterinary rapid test market is expected to grow with a CAGR of 8.1% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the veterinary rapid test market?
Answer: The major drivers for this market are rising demand for point-of-care testing, growing number of pet owners, and ongoing development of companion diagnostic tests.
Q3. What are the major segments for veterinary rapid test market?
Answer: The future of the veterinary rapid test market looks promising with opportunities in the veterinary hospital & clinic and homecare setting markets.
Q4. Who are the key veterinary rapid test market companies?
Answer: Some of the key veterinary rapid test companies are as follows:
• Zoetis
• IDEXX Laboratories
• Virbac
• Heska Corporation
• Thermo Fisher Scientific
Q5. Which veterinary rapid test market segment will be the largest in future?
Answer: Lucintel forecasts that companion animal will remain larger segment over the forecast period.
Q6. In veterinary rapid test market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the veterinary rapid test market by product type (test kits and readers), testing type (virology, parasitology, bacteriology, clinical chemistry, and others), animal type (companion animal, production animal, and others), end use (veterinary hospitals & clinics, homecare settings, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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