Veterinary Rapid Test Market Analysis

Product Type (Rapid Test Kit, Rapid Test Reader)

In terms of product type, the rapid test kit segment share in the veterinary rapid test market is anticipated to surpass 63% by the end of 2037. Rapid diagnostic tests are based on immunochromatographic detection of circulating antigens in the bloodstream. Rapid test kits are used for initial screening tests and are beneficial in resource-limited settings. The introduction of new products in the sector and increased funding for animal health are driving growth in the sector. For instance, VolitionRx Limited, a global epigenetics company, announced in November 2022 that it would be able to expand in the U.S. and Europe through Heska's Veterinary Diagnostic Laboratory in partnership with Heska Corporation, a leading multinational provider of advanced veterinary diagnostics. They have started Nu.Q Vet cancer screening test.

Animal Type (Companion Animals, Live-Stock Animals)

Based on animal type, the companion animal segment in the veterinary rapid test market is predicted to reach 64% during the forecast period. Companion animals are animals that live close to people in their homes and lives. People consider these animals to be family pets, and because they are family pets, pets are subject to special legal protections than other animals. Legally, this group is often limited to dogs and cats, but may also include birds, horses, and other animals. Increased acceptance of pets including dogs and cats, increased spending on pet health and other needs, introduction of new pet products, and increased market development in this segment are driving the growth of this segment.

Our in-depth analysis of the global veterinary rapid test market includes the following segments: