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Leading Growth Driver in the Veterinary Rapid Test Market in 2025: The Impact Of Rising Pet Ownership On The Veterinary Rapid Test Market Driver's Influence
Veterinary Rapid Test
The increasing pet ownership is expected to propel the growth of the veterinary rapid test market. Pet ownership refers to the care, welfare, and maintenance of pets, and it has been rising due to social trends, urbanization, and changing family structures, such as young adults delaying parenthood. As pet ownership increases, there is a greater demand for quick and accurate diagnostic tools to help pet owners manage their pets' health. Veterinary rapid tests allow pet owners to receive timely results for various health conditions, enabling early diagnosis and proactive care. For example, according to the American Pet Products Association (APPA), pet ownership in the United States increased from 67% of households in 2021-2022 to 70% in 2023-2024. This rise in pet ownership fuels the need for veterinary rapid tests to ensure pets' health and well-being.
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What is the future CAGR of the veterinary rapid test market, and how will it impact industry expansion?
The veterinary rapid test market has grown rapidly, rising from $0.8 billion in 2024 to $0.89 billion in 2025, with a CAGR of 11.8%. This expansion is driven by increasing demand for rapid diagnostic testing over traditional methods, rising adoption of pet insurance, growing consumption of animal-based protein, and an increasing number of veterinarians and veterinary visits.
The veterinary rapid test market size is poised for rapid expansion, expected to reach $1.38 billion in 2029 with a CAGR of 11.5%. This growth is attributed to increasing pet ownership, greater consumer awareness of scientific animal nutrition, the rise in industrialized livestock production, growing diagnostic testing for livestock diseases, and the increasing prevalence of zoonotic diseases in animals. Key trends will encompass product innovation, progress in biotechnology, demand for fast and precise diagnostic solutions, advancements in veterinary diagnostics, and improvements in diagnostic technologies.
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What are the most significant trends transforming the veterinary rapid test market today?
In the veterinary rapid test market, AI-powered diagnostic solutions are being introduced to improve diagnostic accuracy. Micron Agritech launched the Micron Kit Fluke Test in November 2023, an AI-powered rapid test for liver and rumen fluke infections in livestock. This solution enables farmers and veterinarians to quickly test animals on-site using smartphones, providing faster and more accurate diagnoses for these parasitic infections.
Which key market segments comprise the veterinary rapid test market and drive its revenue growth?
The veterinary rapid test market covered in this report is segmented -
1) By Product: Rapid Test Kits, Rapid Test Readers
2) By Animal Type : Companion Animal, Production Animal
3) By Technology: Immunoassays, Polymerase Chain Reaction(PCR)
4) By Application: Viral Diseases, Bacterial Diseases, Parasitic Diseases, Allergies, Other Applications
5) By End-User: Veterinary Hospitals And Clinics, Homecare Settings, Other End Users
Subsegments:
1) By Rapid Test Kits: Immunoassay-based Kits, Lateral Flow Assays, Enzyme-linked Immunosorbent Assay (ELISA) Kits, Molecular Diagnostic Kits
2) By Rapid Test Readers: Portable Readers, Bench-Top Readers
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What regions are at the forefront of veterinary rapid test market expansion?
North America was the largest region in the veterinary rapid test market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary rapid test market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the leading players fueling growth in the veterinary rapid test market?
Major companies operating in the veterinary rapid test market are Thermo Fisher Scientific Inc., Zoetis Inc., bioMérieux SA, IDEXX Laboratories Inc., Sysmex Corporation, Bio-Rad Laboratories Inc., QIAGEN GmbH, Virbac Corp., Neogen Corporation, Antech Diagnostics Inc., Heska Corporation, Ring Biotechnology Co Ltd., Woodley Equipment Company Ltd., Prometheus Biosciences Inc., BioChek, Bionote Usa Inc., Agrolabo S.p.A., Shenzhen Bioeasy Biotechnology Co. Ltd., Fassisi GmbH, MEGACOR Diagnostik GmbH, Biopanda Reagents Ltd., Boster Biological Technology Co. Ltd., Swissavans AG, Secure Diagnostics Pvt. Ltd., Eurolyser Diagnostica GmbH
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What Is Covered In The Veterinary Rapid Test Global Market Report?
•Market Size Forecast: Examine the veterinary rapid test market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the veterinary rapid test market for a structured understanding.
•Key Players Overview: Analyze major players in the veterinary rapid test market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the veterinary rapid test market.
•Segment Contributions: Evaluate how different segments drive overall growth in the veterinary rapid test market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the veterinary rapid test market.
•Industry Challenges: Identify potential risks and obstacles affecting the veterinary rapid test market.
•Competitive Landscape: Review strategic developments in the veterinary rapid test market, including expansions, agreements, and new product launches.
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