Veterinary Rapid Diagnostic Tests Market to Grow at 8.1% CAGR, Reaching $1.1 Billion by 2030

Veterinary Rapid Diagnostic Tests Market by Product (Kits, Readers), Condition (Viral, Parasitic, Bacterial Infections), Animal (Companion [Dogs, Cats], Livestock), and End User (Clinics & Hospitals, Reference Labs, Home Testing) - Global Forecast to 2030

[Redding, California, September 22, 2023] — The global Veterinary Rapid Diagnostic Tests Market is poised for robust growth, with a projected CAGR of 8.1% from 2023 to 2030, culminating in an estimated market value of $1.1 billion by 2030. This market includes rapid test kits and rapid test readers designed to diagnose various conditions in companion and livestock animals, such as viral, bacterial, and parasitic infections.

The surge in demand for veterinary rapid diagnostic tests can be attributed to several key factors:

  1. Rising Prevalence of Zoonotic Diseases: The increasing incidence of zoonotic diseases is driving the need for rapid and accurate diagnostic tests to protect both animals and humans.
  2. Advantages of Rapid Tests: Veterinary rapid diagnostic tests offer quick results, enabling timely treatment and reducing the spread of diseases. These advantages make them preferable over traditional testing methods.
  3. Growing At-Home and Farm Testing: There is a growing preference for conducting tests at home and on farms, facilitating early disease detection and management.
  4. Increasing Awareness of Veterinary Health: A rising awareness of the importance of animal health and well-being is boosting the demand for diagnostic tests.
  5. Global Animal Health Expenditure: The increasing global expenditure on animal health is further fueling the growth of this market.
  6. Emerging Markets and Pet Ownership: Emerging markets and the growing number of pet owners are presenting significant growth opportunities for market players.

Top 10 Companies in the Veterinary Rapid Diagnostic Tests Market: https://meticulousblog.org/top-10-companies-in-veterinary-rapid-diagnostic-tests-market/

  1. IDEXX Laboratories, Inc. (U.S.): IDEXX Laboratories, with a presence in over 175 countries, operates in the veterinary rapid diagnostic tests market through its Companion Animal Group and Livestock, Poultry, and Dairy business segments.
  2. Thermo Fisher Scientific Inc. (U.S.): Thermo Fisher Scientific offers veterinary rapid diagnostic tests through its Specialty Diagnostics segment, which includes ImmunoDiagnostics.
  3. Zoetis Inc. (U.S.): Zoetis provides veterinary rapid diagnostic tests through its animal health diagnostic products category, serving both livestock and companion animals.
  4. Fassisi GmbH (Germany): Fassisi GmbH manufactures rapid test systems to detect viruses, parasites, and bacteria in livestock and companion animals.
  5. MEGACOR Diagnostik GmbH (Austria): MEGACOR Diagnostik offers rapid veterinary diagnostic tests for small and large animals, detecting various infections and markers.
  6. Woodley Equipment Company (U.K.): Woodley Equipment Company offers veterinary rapid diagnostic tests through its divisions, Woodley Veterinary Diagnostics and UK Veterinary.
  7. BioNote, Inc. (U.S.): BioNote, Inc. manufactures diagnostic kits and equipment for animal diseases, expanding its operations globally.
  8. Virbac (France): Virbac offers rapid veterinary diagnostic tests through its Companion Animals and Food Producing Animals segments.
  9. Biopanda Reagents Ltd. (U.K.): Biopanda Reagents develops in vitro test kits for clinical laboratories and veterinary practices, catering to various animals.
  10. Heska Corporation (U.S.): Heska Corporation provides point-of-care laboratory instruments and diagnostic products, offering veterinary diagnostic solutions.

Top 10 Companies in the Veterinary Rapid Diagnostic Tests Market: https://meticulousblog.org/top-10-companies-in-veterinary-rapid-diagnostic-tests-market/

For more in-depth analysis of these companies, their financial performance, key products, strategies, and industry trends, refer to the authoritative research report titled "Veterinary Rapid Diagnostic Tests Market – Global Opportunity Analysis and Industry Forecast (2023-2030)" by Meticulous Research®.

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