2025-2034 Veterinary Rapid Test Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights

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What Will the Veterinary Rapid Test Industry Market Size Be by 2025?
The size of the veterinary rapid test market has expanded swiftly in the past few years. The market, which was worth $0.8 billion in 2024, is projected to climb up to $0.89 billion in 2025, reflecting a compound annual growth rate (CAGR) of 11.6%. The observed historical growth can be linked to the surge in veterinary rapid tests, heightened demand for rapid test diagnosis in comparison to other tests, rising uptake of pet insurance, more significant demand for protein sourced from animals, and an increased count of veterinarians and vet visits.

What's the Long-Term Growth Forecast for the Veterinary Rapid Test Market Size Through 2029?
The market size for rapid veterinary tests is projected to experience substantial growth over the coming years, with an anticipated growth to $1.34 billion by 2029. This represents a compound annual growth rate (CAGR) of 10.8%. Several factors contribute to this predicted growth, including a rise in pet ownership, growing consumer knowledge about scientific animal nutrition, burgeoning industrial livestock production, increased diagnostic testing for livestock illnesses, and the escalating prevalence of animal zoonotic diseases. The future growth is also expected to be fuelled by novel product innovations, advancements in biotechnology sector, a high demand for quick and precise diagnostic answers, innovative veterinary diagnostic solutions, and technological improvements in diagnostic tools.

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What Are the Key Growth Drivers Fueling the Veterinary Rapid Test Market Expansion?
The surge in pet ownership is anticipated to stimulate the expansion of the veterinary rapid test market in the future. The term pet ownership implies a responsibility taken by an individual or a household for the upkeep, welfare, and care of a pet. This surge can be credited to societal trends, urbanization, and the trend of young adults postponing starting a family. Veterinary rapid tests offer pet owners immediate and precise diagnostic data, enabling proactive healthcare management and ultimately boosting their pet's health, wellbeing, and lifespan. As an illustration, The American Pet Products Association (APPA), a US-based organization, states that pet ownership in the United States increased from 67% of households in 2021-2022 to 70%. Moreover, between 2023 to 2024, pets were owned by 66% of US households, representing 86.9 million households. As a result, the boost in pet ownership fuels the expansion of the veterinary rapid test market.

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What Are the Key Trends Driving Veterinary Rapid Test Market Growth?
Leading businesses in the veterinary rapid test market are creating forward-looking solutions such as AI-powered rapid tests to increase diagnostic precision and optimize overall effectiveness in animal healthcare. AI-driven rapid tests are a considerable leap forward in veterinary diagnoses, providing vets with sophisticated tools to speed up the diagnosis procedure, improve diagnostic accuracy, and ultimately, elevate the level of care offered to animals. For instance, Micron Agritech, a sustainable health company based in Ireland, introduced the Micron Kit Fluke Test, an inventive AI-backed rapid test for liver fluke in livestock, in November 2023. This revolutionary solution equips farmers and vets to swiftly conduct tests for animals on-site using their smartphones for both liver fluke (Fasciola hepatica) and rumen fluke (Calicophoron daubneyi) infections.

How Is the Veterinary Rapid Test Market Segmented?
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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Which Companies Are Leading the Charge in Veterinary Rapid Test Market Innovation?
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

Which Regions Are Leading the Global Veterinary Rapid Test Market in Revenue?
North America was the largest region in the veterinary rapid test market in 2024. 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.

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