Global Veterinary Rapid Test Market Size (2024 - 2029)

Veterinary Rapid Test Market Analysis

The Global Veterinary Rapid Test Market size is estimated at USD 0.88 billion in 2024, and is expected to reach USD 1.33 billion by 2029, growing at a CAGR of 8.70% during the forecast period (2024-2029).

The major factors accounting for the growth of the veterinary rapid test market are the growing incidences and prevalence of zoonotic diseases globally, rising animal healthcare expenditure, increasing awareness about animal health, and the increasing adoption of pets worldwide.

The rapid increase in diseases caused by animals and animal products is responsible for the development of early diagnosis of zoonotic diseases in animals. Rapid tests of these diseases will help in the early and easy detection of such diseases, thereby affecting the growth of the veterinary rapid test market.

The increasing adoption of pets, such as dogs and cats, is expected to propel market growth over the forecast period due to the adoption of rapid tests for pets. For instance, according to the American Pet Products Association National Pet Owners Survey conducted in August 2023, around 78.0 million Americans owned a dog, 52.3 million owned cats, 14.8 owned freshwater fish, 10.9 million owned birds, 9.2 million owned small animals, 7.7 million owned reptiles, 8.5 million owned horses, and 6.9 million owned saltwater fish in 2022.

In addition, according to the survey conducted by the Dibevo and the Dutch Food Industry Companion Animals (NVG) in April 2023, around 60.0% of households in the Netherlands owned a cat, and around 40.0% had a dog. The total number of pets in the Netherlands was estimated to be almost 32.0 million in 2022. Such a surge in pet adoption worldwide is expected to drive the demand for veterinary rapid tests, contributing to the market's growth.

The rising initiatives from key market players, such as the launch of rapid tests and test reader devices, are anticipated to increase their availability, thereby driving market growth. For instance, in August 2023, Biotangents launched its rapid testing AmpliSpec LAB Mastitis device at the Moredun Research Institute in Edinburgh. This test rapidly identifies mastitis pathogens in dairy cows and is believed to be a faster, cheaper, and more reliable test compared to traditional culture or PCR testing.

Therefore, the market is anticipated to grow over the forecast period due to the rising pet adoption and initiatives taken by key market players. However, a lack of proper infrastructure for animal healthcare management and concerns related to the high cost of manufacturing are anticipated to hamper the market’s growth.

Veterinary Rapid Test Industry Segmentation

As per the scope of the report, the veterinary rapid test provides the facility for testing diseases in livestock and pets and provides the kits for testing many viruses like rabies, feline heartworm and canine, feline leukemia virus, canine distemper virus, and avian influenza.

The veterinary rapid test market is segmented by product type, application, animal type, and geography. By product type, the market is segmented into rapid test kits and rapid test readers. By application, the market is segmented into viral diseases, bacterial diseases, parasitic diseases, and allergies. By animal type, the market is segmented into companion animals and livestock animals. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report offers the value (USD) for the above segments.