- Home
- Life Sciences
- Veterinary Rapid Test
Veterinary Rapid Test Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.
-
Published date -30th Jan 2024
-
Formats -PDF, CSV
-
Region -Global
Veterinary Rapid Test Market Analysis
Market Size & CAGR of Veterinary Rapid Test Market in 2021
The global veterinary rapid test market is expected to have a growth rate of 5.2% CAGR from 2021 to 2025. As a result, the market is anticipated to grow by USD 560 million by 2025.
COVID-19 Impact on the Veterinary Rapid Test Market
The COVID-19 pandemic has significantly impacted the veterinary rapid test market. Due to lockdowns and restrictions, the market faced disruptions in the supply chain and reduced demand for non-essential veterinary services.
Veterinary Rapid Test Dynamics
The veterinary rapid test market is driven by the increasing prevalence of infectious diseases in animals, growing awareness about animal health, and the rise in pet ownership. However, challenges such as regulatory hurdles and high costs of tests hinder market growth.
Segments and Related Analysis
The veterinary rapid test market can be segmented based on technology, animal type, and end-user. By technology, lateral flow assays hold the largest market share due to their ease of use and quick results. Among animal types, companion animals segment dominates the market.
By Region Analysis
The North American region holds the largest market share in the veterinary rapid test market, followed by Europe and Asia Pacific. The increasing adoption of advanced diagnostic tools and growing expenditure on pet healthcare drive market growth in these regions.
Key Market Players and Competitive Landscape
Key players in the veterinary rapid test market include Abaxis Inc., IDEXX Laboratories, Inc., Zoetis Inc., Heska Corporation, and Thermo Fisher Scientific. These companies focus on new product launches, partnerships, and acquisitions to gain a competitive edge.
Recent Happenings in the Veterinary Rapid Test Market
In recent developments, IDEXX Laboratories introduced a new rapid test for feline leukemia virus detection, enhancing diagnostic capabilities for veterinarians. Additionally, Zoetis Inc. collaborated with a leading veterinary clinic to provide innovative testing solutions for pets.
