Veterinary Rapid Diagnostic Tests Market (2023-2030)
The Veterinary Rapid Diagnostic Tests Market is expected to record a CAGR of 8.1% from 2023 to 2030, reaching $1.1 billion by 2030.
- Published
- Apr 2023
- Pages
- 175
- Format
- PDF + Excel
- Report ID
- MRHC - 104601
- Base year
- 2022
- 2030 · FORECAST
- $1.10B
- 2030
- $1.10B
- CAGR 2023–2030
- 8.1%
2022 baseline · 2023–2030 forecast at 8.1% CAGR · hover a bar for the value
Key highlights
The Viral Infections Segment to Dominate the Veterinary Rapid Diagnostic Tests Market in 2023
The Rapid Test Kits Segment to Account for the Largest Market Share in 2023
The Companion Animals Segment to Account for the Largest Market Share in 2023
Veterinary Hospitals & Clinics Segment for the Largest Market Share in 2023
Asia-Pacific to Be the Fastest-Growing Regional Market
Report summary
| Particulars | Details |
|---|---|
| Base Year | 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2023–2030 |
| Market Size (2030) | USD 1.10 billion |
| CAGR (2023–2030) | 8.1% |
| Format | PDF, Excel & Cloud Portal · 175 pages |
| Segments Covered | By Product: Rapid Test Kits, Rapid Test Readers · By Condition: Viral Infections, Bacterial Infections, Parasitic Infections · By Animal Type: Companion Animals Dogs, Cats, Other Companion Animals · By End User: Veterinary Hospitals & Clinics, Reference Laboratories, At-home/Farm Testing · By Animal: Companion, Livestock |
| Countries Covered | Europe (RoE), Asia-Pacific (RoAPAC) |
| Key Companies | IDEXX Laboratories, Inc. (U.S.), Zoetis Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Woodley Equipment Company Ltd. (U.K.), Virbac, Heska Corporation (U.S.), SWISSAVANS AG, Fassisi GmbH, MEGACOR Diagnostik GmbH, BioNote, Inc. |
Report overview
Segments covered: product, condition, animal type, end user, animal. Regions: Europe, Asia-Pacific.
The growth of this market is driven by 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, increasing global animal health expenditure, and the increasing demand for animal-derived food products.
However, the lack of reimbursements and the preference for certain traditional diagnostic methods restrain the growth of this market. Additionally, emerging markets and increasing pet ownership are expected to create growth opportunities for the stakeholders in this market. However, the inadequate diagnostic infrastructure in developing countries and farmers’ lack of awareness regarding animal health are major challenges to market growth.
Report infographic
Market dynamics
1 factors across 1 forceInadequate Veterinary Diagnostics Infrastructure in Developing Countries
Livestock farming is one of the major sources of income and livelihood for a substantial number of people in developing countries. As there is an increase in the global demand for animal-derived food products, there is a growing need for farmers to increase livestock production. However, diseases such as foot & mouth disease, Newcastle disease, and African swine fever affect the quality of food products derived from animals, impacting the productivity of the livestock sector.
Thus, diagnosing diseases is essential to start early treatment and avoid severe impacts on animal health to maintain livestock productivity and the quality of animal-derived food products. Early diagnosis is only possible if there is a well-established animal diagnostics ecosystem. Developing countries face challenges, such as the lack of disease surveillance, the low availability of laboratories in remote places where livestock populations are larger, and the unavailability of accurate data on disease prevalence. For instance, according to the Department of Animal Husbandry and Dairying (India), many villages in India lack basic animal testing facilities. Most samples collected have to be sent to nearby districts for testing. This time-consuming process leads to sample damage, yielding incorrect results. This lack of basic veterinary diagnostics infrastructure is a major challenge for market growth in developing countries.
Table of contents
12 chapters · 127 sections · 175 pages · click to expandSegmental analysis
| Segment | Largest share (2023) | Fastest growth (2023–2030) |
|---|---|---|
| By Condition | Viral Infections | — |
| By Product | Rapid Test Kits | — |
| By Animal | Companion Animals | — |
| By End User | — | — |
By Condition
- The Viral Infections Segment to Dominate the Veterinary Rapid Diagnostic Tests Market in 2023
- The increased prevalence of viral infections among animals and the risk of viruses crossing the species barrier and infecting humans drive the growth of this segment.
- Influenza, a contagious disease, spreads rapidly among large animal populations affecting horses, cats, dogs, birds, swine, and humans.
- Humans can be infected with avian, swine, and other zoonotic influenza viruses.
- For instance, Asia is the prevalent continent with respect to the geographical extent of outbreaks.
- According to WHO, up to 2nd January 2020 (from January 2003), a total of 238 cases of human infection with avian influenza A (H5N1) virus were reported from China, Vietnam, India, Taiwan, Israel, Japan, and South Korea within the Western Pacific Region.
By Product
- The Rapid Test Kits Segment to Account for the Largest Market Share in 2023
- The segment’s large share is attributed to the increasing prevalence of diseases in companion and livestock animals and farmers’ increasing preference for at-home/farm animal testing.
- Pet owners' awareness of regular health checks is observed as they consider their pets family members.
- The most common pet infections are heartworm, ringworm, parvovirus, leukemia, and worms.
- The rapid tests used to diagnose such infections are more adopted in recent years as they are affordable, provide precise results, help decide whether to visit a veterinary doctor and save time waiting for test results and planning treatment.
By Animal
- The Companion Animals Segment to Account for the Largest Market Share in 2023
- The factors contributing to the segment’s large share are the increasing prevalence of diseases in pets, lower costs of rapid tests compared to other testing methods, and the wide availability of rapid tests for common diseases occurring in companion animals.
- Heartworms are one of the most common infections in dogs, and the prevalence of heartworm infections is rising.
- For instance, according to the Companion Animal Parasite Council, in 2022, the number of heartworm infections increased to 208,682 from 108,160 in 2015.
By End User
- Veterinary Hospitals & Clinics Segment for the Largest Market Share in 2023
- The segment's large share is attributed to animal owners' high preference for hospitals & clinics, easy accessibility, and the growing burden of diseases in animals.
- To control and prevent the growing incidence of zoonotic diseases, most key players focus on developing awareness about portable rapid testing modalities and promoting their portable rapid testing products to treat & prevent diseases.
- Such tests and related devices can be installed in small infrastructure facilities and can be used easily by a veterinarian and other supporting staff with applying fewer skills, further driving the veterinary rapid diagnostic testing market in veterinary hospitals & clinics.
Geographic analysis
Asia-Pacific
Fastest growthThe 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. Asia-Pacific to Be the Fastest-Growing Regional Market
North America
Largest shareIn 2023, North America is expected to dominate the veterinary rapid diagnostic tests market, while Asia-Pacific is expected to record the highest CAGR during the forecast period.
Competitive landscape
- 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
Frequently asked questions
The veterinary rapid diagnostic tests market report covers market sizes & forecasts for the consumables, systems, and software used for animal diagnosis. The veterinary rapid diagnostic tests market study includes the value analysis of various segments and subsegments of the veterinary rapid diagnostic tests market at the regional and country levels.
Cite this report
Meticulous Research. (2023). Veterinary Rapid Diagnostic Tests Market - Global Opportunity Analysis And Industry Forecast (2023-2030) (Report No. MRHC - 104601). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/veterinary-rapid-diagnostic-tests-market-5287