Veterinary Rapid Test Market Growth, Market Insights and Forecast to 2025

Posted by rekha on December 12th, 2019

The Global Veterinary Rapid Test Market was valued around US$ 523.6 Mn by 2018 and growing at a significant CAGR of 7.9% over next seven years 2019-2025 due to increasing prevalence of zoonotic diseases”

The global veterinary rapid test market accounted for US$ 523.6 Mn in 2018 and burgeoning over the forthcoming years. Some of the key factors fueling the market growth include increasing prevalence of zoonotic diseases, advantages of rapid tests over other testing methods, growth in companion animal population, and wide range of applications of these tests in viral infections, parasitic ailments, allergies. In addition, favorable initiatives taken by various governments and private organizations for animal healthcare and protection provides huge growth opportunity for the market growth. However, factors such as limited animal diagnostics infrastructure in several countries and lack of animal healthcare awareness are hindering the market growth.

 Global veterinary rapid test market segmented on the basis of product, animal type, application and region.

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Rapid Test Readers Dominate the Global Veterinary Rapid Test Market

Based on product, global veterinary rapid test market segmented into rapid test readers and rapid test kits.Rapid Test Readers held considerable market share during forecast period. Rapid Test Reader is a user-friendly, image-analysis based qualitative/semi-quantitative reader specifically designed to measure and interpret lateral flow immunoassay test results.The RDT reader is useable with numerous lateral immunochromatographic assays and similar biomedical tests.

Asia Pacific Leads the Global Veterinary Rapid Test market

PBI’s global Veterinary Rapid Test market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis.The growth in this region is due to rising demand for animal-based products, growing per capita animal health expenditure, increasing awareness about animal health and growth in pet adoption. India and China are the major contributors for the growth of the market in the region. North America held substantial market share during estimated period owing tointroduction of pet insurance policies by the government to promote animal healthcare, increase in animal healthcare service providers and high number of veterinary doctors in the region.

Strategic Acquisitions are the key strategies adopted by market players

Global Veterinary Rapid Test market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, in 2018, Zoetis, Inc. acquired Abaxis, Inc. This acquisition enhanced Zoetis presence in the veterinary diagnostics industry, including the veterinary rapid tests market.

Key player’s profiles in the report are Zoetis Inc. (US), IDEXX Laboratories Inc. (US), Heska Corporation (US), Biopanda Reagents Ltd. (UK), Fassisi GmbH (Germany), Virbac (France), BioNoteInc. (South Korea), SWISSAVANS AG (Switzerland), MEGACOR Diagnostik GmbH (Austria) and Woodley Equipment Company (UK).

Precision Business Insights (PBI) in its report titled “Global Veterinary Rapid Test Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.

Detailed Segmentation


By Product                 

o     Rapid Test Readers  

o     Rapid Test Kits        


By Animal Type                     

o     Livestock Animals   

  • Swine
  • Cattle
  • Poultry
  • Other Livestock Animals

o     Companion Animals

  • Dogs
  • Horses
  • Cats
  • Other Companion Animals

By Application                       

o     Bacterial Diseases    

o     Allergies      

o     Parasitic Diseases     

o     Viral Diseases          

o     Other Applications               


By Geography

o     North America

  • US
  • Canada

o     Europe

  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
  • Poland
  • Rest of Europe

o     Asia-Pacific

  • Japan
  • China
  • India
  • Australia & New Zealand
  • ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
  • South Korea
  • Rest of Asia-Pacific

o     Latin America

  • Brazil
  • Mexico
  • Argentina
  • Venezuela
  • Rest of Latin America

o     Middle East and Africa (MEA)

  • Gulf Cooperation Council (GCC) Countries
  • Israel
  • South Africa
  • Rest of MEA

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Joined: July 26th, 2019
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