Home Healthcare IT Veterinary Rapid Test Market Size, Share & Growth Report | 2032

Veterinary Rapid Test Market

Global Veterinary Rapid Test Market: Information by Product (Test Kits, Readers), Technology (Immunoassays, PCR), Animal Type (Companion Animals and Production Animals), Testing Category (Virology, Parasitology, Bacteriology, Clinical Chemistry), End-Use (Veterinary Hospitals and Clinics, Homecare Settings), and Region—Forecast till 2032

Report Code: SRHI56302DR
Study Period 2020-2032 CAGR 8.5%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD 700 million
Forecast Year 2032 Forecast Year Market Size USD 1,446 million
Largest Market North America Fastest Growing Market Europe
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Market Overview

The global veterinary rapid test market size was valued at USD 700 million in 2023 and is projected to reach USD 1,446 million by 2032, registering a CAGR of 8.5% during the forecast period (2024-2032). Advancements in diagnostic technologies, such as point-of-care testing and molecular diagnostics, primarily drive the veterinary rapid test market growth. 

Rapid tests frequently provide outcomes within a short timeframe, ranging from minutes to a few hours. This enables veterinarians and animal owners to promptly make informed choices regarding treatment and control. Timely detection is vital for efficient therapy and halting the transmission of contagious illnesses across animal populations. The prompt delivery of rapid test findings minimizes the duration between sample collection and diagnosis. Implementing prompt interventions, limiting disease transmission, and enhancing overall animal health outcomes are crucial.

The increasing occurrence of zoonotic diseases and the growing investments by governments and welfare associations globally are expected to drive growth. The market is expected to grow due to the significant occurrence of urinary tract infections (UTIs) in dogs, driving the demand for rapid tests.

Highlights

  • Test kits generate the highest revenue share based on product. 
  • Immunoassay accounts for the largest market share by technology.
  • Companion animal accounts for the largest market share by animal type.
  • Virology accounts for the largest market share by testing category.
  • Veterinary hospitals and clinics account for the largest market share by end-use.

Market Dynamics

Global Veterinary Rapid Test Market Drivers

Increasing Trend of Pet Ownership

The growing prevalence of pet ownership and the increasing tendency to treat pets as human-like beings have led to a heightened focus on their health and overall welfare. Owners of pets demonstrate a greater inclination to allocate resources towards healthcare measures, such as engaging in routine screenings utilizing veterinary quick tests. Preventive healthcare for animals is receiving increasing attention because identifying diseases early might result in more efficient and cost-effective treatments. Veterinary rapid tests are essential in preventative healthcare, offering prompt and easily accessible diagnostic options. 

In addition, based on data from the American Pet Products Association, Inc., it is predicted that pet owners will spend around USD 37 million on veterinary treatment and product purchases in 2023. This sum far exceeds the expected USD 35.9 million in veterinary care and product sales projected for 2022. Therefore, this expenditure on pets contributes to the expansion of the market.

Technological Advancements

Technological improvements significantly impact the market by promoting innovation, increasing diagnostics' accuracy, and improving diagnostic instrument performance. The continuous progress in biotechnology and diagnostic technologies significantly creates increasingly advanced and precise rapid test kits. The development of highly sensitive and specialized rapid test kits allows market players to introduce cutting-edge products. This involves the implementation of sophisticated detection techniques and the integration of digital technology for the interpretation of results.

In addition, immunoassay techniques are frequently employed in quick test kits, such as Enzyme-linked Immunosorbent Assay (ELISA) and lateral flow immunoassay. Continual progress in these methods enhances sensitivity and specificity, enabling more precise identification of animal illnesses. Moreover, market growth can be improved by implementing various strategies by influential market participants. In January 2023, Heska Corporation (Mars Inc.) successfully acquired MBio Diagnostics, Inc. d/b/a LightDeck Diagnostics ("LightDeck"). LightDeck is a prominent planar waveguide fluorescence immunoassay diagnostics company and has substantial production, research, and development capabilities. This has allowed the business to investigate a new field for creating immunoassays for veterinary diagnostic purposes.

Furthermore, veterinary rapid tests are progressively integrating molecular diagnostic tools, such as Polymerase Chain Reaction (PCR). These methods provide high sensitivity and specificity in identifying nucleic acids, allowing for the precise identification of certain diseases. La Trobe University in Australia successfully created a novel quick isothermal PCR test in October 2022, capable of detecting liver fluke within a timeframe of just one hour. The test aims to mitigate the transmission of the lethal parasite that impacts cattle, sheep, and other cud-chewing animals.

Global Veterinary Rapid Test Market Restraint

Inadequate Infrastructure

The veterinary rapid test market has shown significant expansion in recent years, fueled by the rising need for prompt and precise diagnostic solutions in veterinary care. Nevertheless, this growth path's progress may encounter obstacles due to insufficient infrastructure in some areas. Inadequate infrastructure comprises various obstacles, such as restricted availability of dependable power sources, insufficient transit networks, and inadequate storage facilities. These constraints can impede the dissemination and execution of rapid veterinary testing in rural and poor regions where veterinary services are already constrained.

Additionally, inadequate training facilities and proficient individuals can provide substantial obstacles to implementing these exams. Veterinary experts must undergo specific training to administer and interpret quick tests effectively. The lack of such expertise might result in misinterpretation and damage the credibility of these diagnostic instruments. Moreover, legislative limits and bureaucratic impediments might intensify the problem, causing delays in approving and commercializing veterinary quick tests in specific markets. Providing sufficient regulatory frameworks may encourage manufacturers to invest in advancing and disseminating these tests, impeding market expansion.

Global Veterinary Rapid Test Market Opportunity

Rising Demand for Rapid Test Kits

Rapid test kits can be stored at room temperature for an extended time. These tests provide quicker findings and have a specific accuracy ranging from 90% to 100%. However, the sensitivity of a particular quick test kit can range from 85% to 90%. Precise testing will result in early detection and treatment, enhancing the demand for this area. 

According to a study titled "Evaluation of a rapid immunochromatographic test kit compared to the gold standard fluorescent antibody test for diagnosing rabies in animals in Bhutan," published in June 2020, the rapid kits have significantly improved the ability to quickly diagnose suspected cases of rabies and reduce the spread of rabies in both animals and humans in countries with limited resources, such as Bhutan. Therefore, these rapid kits are contributing to the expansion of the market, which in turn creates potential market opportunities. 

Regional Analysis

The global veterinary rapid test market share is bifurcated into North America, Asia-Pacific, Europe, the Middle East and Africa, and Latin America.

North America Dominates the Global Market

North America is the most significant global veterinary rapid test market shareholder and is estimated to grow at a CAGR of 8.2% over the forecast period. The widespread use of diagnostic tests in the U.S. can be linked to the country's dominant position in the global market, driven by the considerable coverage provided by pet insurance. Pet owners are responsible for ensuring that their pets receive regular medical examinations, often recommended by insurance policies covering a range of diagnostic testing. Canada's need for timely and accurate diagnosis has risen as the number of reportable diseases in livestock, such as avian influenza, bovine tuberculosis, and chronic wasting disease, has increased. The North American market for veterinary diagnostic kits is projected to grow at a favorable rate, primarily due to the demand for early disease detection, especially in the face of rising disease prevalence.

Additionally, the growing utilization of diagnostic testing in the U.S. market can be attributed to its inclusion in pet insurance coverage. In the United States, pet health insurance usually includes coverage for diagnostic procedures such as X-rays, MRI scans, and blood tests. Forbes' data from January 3, 2024, provided information on the mean expense of pet insurance in the United States and the extent of its coverage. The pet insurance offers an annual coverage of USD 5,000, with a deductible of USD 250 and a reimbursement level of 80%. On average, the monthly cost for dog insurance is USD 44, while for cat insurance, it is USD 30.

Europe is anticipated to exhibit a CAGR of 8.9% over the forecast period.  Recent advancements in diagnostic technologies, including point-of-care testing and molecular diagnostics, have enhanced the use of veterinary diagnostics. These technologies contribute to the overall demand for veterinary diagnostics by offering precise and efficient diagnostic tests. Pet insurance is essential due to various circumstances, including the rising prevalence of zoonotic diseases in animals and people and the exorbitant expenses associated with treatment. The German market is expected to see a consistently optimistic view due to the high incidence of Urinary Tract Infections (UTIs) in companion animals.

Furthermore, bacterial urinary tract infection (UTI) is a frequently diagnosed condition in companion animals and is the primary reason for prescribing antibiotics. Based on data from a study published in the Antibiotics Journal in 2022, it was determined that uropathogenic bacteria were present in 38.5% of cat samples and 43.9% of dog samples in Germany. In addition, Escherichia coli accounted for 48.4% of the pathogens found, while Coagulase-positive Staphylococci (CoPS) and Enterococcus spp. They made up 11.5% and 11.9% respectively.

The Asia-Pacific market is projected to experience a high CAGR over the forecast period. The Asia-Pacific market, encompassing Thailand, South Korea, Australia, India, China, and Japan, indicates expansion. The market in Thailand is primarily driven by the acceptance of pets and the implementation of breeding techniques in livestock production. The demand for Veterinary Rapid Tests in South Korea is motivated by the significant focus on broiler farms, particularly while combating viral diseases. The prosperous cattle industry in Australia is shown in the widespread implementation of bovine artificial insemination techniques, which have the potential to stimulate market expansion.

Report Scope

Report Metric Details
Segmentations
By Product
  1. Test Kits
  2. Readers
  3. By Testing Category 
  4. Virology
  5. Parasitology
  6. Bacteriology
  7. Clinical Chemistry
  8. Other Categories
By Technology
  1. Immunoassays
  2. PCR
By Animal Type
  1. Companion Animal
  2. Production Animal
By End Use
  1. Veterinary Hospitals and Clinics
  2. Homecare Settings
  3. Other End Use
Company Profiles Zoetis IDEXX Laboratories Inc Virbac Heska Corporation Thermo Fisher Scientific Inc Neogen Corporation Prometheus Bio Inc Fassisi GmbH Biopanda Reagents Ltd Boster Biological Technology
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global veterinary rapid test market is segmented based on product, technology, testing category, animal type, and end user. 

Based on product, the market is segmented into Test Kits and Reader.

The test kits segment dominated the market in 2023. Advancements in veterinary diagnostics have created precise and efficient diagnostic test kits that utilize advanced technologies such as polymerase chain reaction (PCR), enzyme-linked immunosorbent assay (ELISA), and lateral flow tests. These advancements enhance the efficiency and efficacy of veterinary diagnostics, consequently promoting market expansion.

The reader segment is the fastest growing. Readers are essential in expanding the veterinary rapid test market since they enable precise and prompt diagnosis of animal diseases. Veterinarians benefit from their ability to promptly analyze test results, allowing them to make well-informed treatment choices. This, in turn, enhances animal health outcomes and drives up the demand for speedy testing solutions in the veterinary industry.

Based on testing category, the market is segmented into Virology, Parasitology, Bacteriology, Clinical Chemistry, and Other Categories. 

The virology segment dominated in 2023.  Virology involves the identification of viral infections in animals by utilizing techniques such as viral culture, antigen detection assays, serology, virus isolation, and infection-induced antibodies, which aid in the detection of viral nucleic acids. This segment also involves the surveillance of vaccination efficacy. Other tests in this category include agar-gel immunodiffusion, complement fixation, latex agglutination, hemagglutination inhibition, ELISA, neutralization, and indirect immunofluorescence, all of which detect antibodies using various ways. Antigen detection tests include immunofluorescent antibody detection, immunohistochemistry assays, and antigen ELISA tests.

The bacteriology segment is the fastest growing. Bacteriology is crucial in stimulating the expansion of the veterinary rapid test industry by facilitating the creation of tests for bacterial infections. These tests contribute to the prompt and precise identification of infectious diseases in animals, enabling timely treatment and control of the diseases and improving animal health and productivity.

Based on technology, the market is segmented into Immunoassays and PCR.

The immunoassays segment dominated in 2023. The immunoassays category includes ELISA/EIA, Lateral Flow Assays (LFAs), and Immunochromatographic Assays (ICA). ELISA rapid test kits are frequently employed in veterinary medicine to identify antibodies or antigens linked to contagious illnesses such as parvovirus infection, distemper, brucellosis, and leptospirosis. ELISA kits are offered in many formats, such as LFAs or Lateral Flow Immunoassays (LFIs), which offer quick and easily understandable outcomes.

The PCR segment is the fastest growing. The Polymerase Chain Reaction (PCR) is crucial in driving the growth of the veterinary rapid test industry. The relevance of this technology rests in its capacity to precisely and swiftly identify pathogens, such as viruses and bacteria, in animals. This aids in the prompt identification of diseases. PCR-based assays have exceptional sensitivity and specificity, allowing veterinarians to quickly detect infectious pathogens, aiding immediate treatment and containment of outbreaks.

In addition, PCR technology enables multiplexing, which means it may detect numerous diseases simultaneously in a single test. This feature enhances its usefulness in veterinary diagnostics. The utilization of PCR-based rapid testing greatly helps the expansion and progress of the veterinary diagnostic market.

Based on animal type, the market is segmented into Companion Animals and Production Animals.

The companion animals segment dominated in 2023. These factors can be ascribed to the rise in the pet population, increased pet spending, and the growing awareness of the importance of early disease detection and preventive therapy. The market expansion is anticipated to be driven by the rising number of product launches and robust service pipelines of IDEXX, Zoetis, and Heska Corporation (Mars Inc.) during the forecast period. In June 2023, IDEXX introduced the inaugural animal diagnostic test to identify kidney disease in dogs and cats. The tests will be conducted at IDEXX Reference Laboratories in 2023 in the United States and Canada and introduced in Europe in 2024.

The production animals segment is the fastest growing. The presence of production animals plays a crucial role in driving the growth of the veterinary rapid test market, as it requires effective disease management. Rapid diagnostic tests facilitate expedited identification of contagious illnesses, guaranteeing timely intervention and averting epidemics that have the potential to decimate cattle herds. Rapid testing is essential in veterinary medicine because it increases production, minimizes economic losses, and emphasizes its indispensability.

Based on end-use, the market is segmented into Veterinary Hospitals and Clinics, Homecare Settings, and Other End Use. 

The veterinary hospitals and clinics segment dominated in 2023 due to the growing need for diagnostics and readily available rapid diagnostic tools in hospitals. This sector covers the revenue of veterinary hospitals and clinics directly selling diagnostic test kits to pet owners and livestock farmers. Additionally, veterinary hospitals are responsible for teaching pet owners about the significance of diagnostics in preserving their dogs' well-being. By spreading awareness, they motivate many pet owners to pursue diagnostic test kits when necessary. 

The homecare setting segment is the fastest growing. The homecare setting is crucial in promoting and expanding the market for veterinary rapid test by enabling convenient and immediate testing for pet owners. This phenomenon facilitates the early identification and management of diseases, hence improving the well-being of animals. Moreover, it enhances market reach, appealing to a broader range of pet owners searching for effective healthcare options.

Market Size By Product

Market Size By Product
  • Test Kits
  • Readers
  • By Testing Category 
  • Virology
  • Parasitology
  • Bacteriology
  • Clinical Chemistry
  • Other Categories
  • Recent Developments

    • April 2024 – Zoetis Inc. (NYSE: ZTS) and Phibro Animal Health Corporation (Nasdaq: PAHC) have agreed that Phibro Animal Health will purchase Zoetis' medicated feed additive (MFA) product portfolio, specific water-soluble products, and associated assets for $350 million, with adjustments made at the time of closing as per usual practice.
    • March 2024 – Zoetis Inc. and the Federation of European Companion Animal Veterinary Associations (FECAVA) organized the EU Companion Animals Stakeholder Summit to introduce the Human-Animal Bond Report. The report promotes the need for progress in companion animal policy to enhance humans' and animals' health and well-being. Policymakers, influencers, and industry professionals have urged discussion on the policies regarding companion animals in the European Union and its member states. This is to promote and uphold the various advantages of the human-animal relationship throughout Europe, as substantiated by the facts in the Human-Animal Relationship Report.

    Key Players

    Veterinary Rapid Test Market Share of Key Players

    Veterinary Rapid Test Market Share of Key Players
    Zoetis IDEXX Laboratories Inc Virbac Heska Corporation Thermo Fisher Scientific Inc Neogen Corporation Prometheus Bio Inc Fassisi GmbH Biopanda Reagents Ltd Boster Biological Technology Others

    Frequently Asked Questions (FAQs)

    How Big is Veterinary Rapid Test Market?
    The global veterinary rapid test market size was valued at USD 700 million in 2023 and is projected to reach USD 1,446 million by 2032, registering a CAGR of 8.5% during the forecast period (2024-2032).
    Some of the top industry players in Veterinary Rapid Test Market are, Zoetis, IDEXX Laboratories, Inc., Virbac, Heska Corporation, Thermo Fisher Scientific, Inc., Neogen Corporation, Prometheus Bio Inc.
    North America has held a dominant position in the global market, with the largest market share.
    The Europe region has experienced the highest growth rate in the Veterinary Rapid Test Market
    The global Veterinary Rapid Test Industry report is segmented as follows: By Product Type, By Technology, By Animal Type, By End User and By Region


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