According to our most recent report, “Veterinary Rapid Test Market Forecast to 2028 – Global Analysis – by Product, Application, and Animal Type,” the market is expected to reach US$ 1,291.69 million by 2028, up from US$ 733.87 million in 2021, at a CAGR of 8.4% from 2021 to 2028. The report highlights the key market drivers as well as prominent market players and their market developments.
The veterinary rapid test market is divided into applications such as viral diseases, bacterial diseases, parasitic diseases, allergies, and others. The viral diseases segment held the largest market share and is expected to have the highest CAGR during the forecast period.
The veterinary rapid test market has been divided into product, application, and animal type segments. The market is divided into two product categories: rapid test kits and rapid test readers. The market is divided into viral diseases, bacterial diseases, parasitic diseases, allergies, and other applications. The veterinary rapid test market is divided into companion animals and livestock animals. Dogs, cats, horses, and other companion animals are subdivided into the companion animal segment. Cattle, poultry, swine, and other livestock animals are subdivided into the livestock animals segment.
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Veterinary rapid tests provide a positive or negative result to aid in the diagnosis of a wide range of health problems in companion and livestock animals. These tests aid in the detection and control of zoonotic diseases (infectious disease transmitted from other animals or humans). The test is performed by placing a sample on the device’s specimen well. Once the antigen-antibody interaction is complete, the results are displayed on the device as a visible indicator. These rapid test kits can detect pathogens efficiently in a short period of time, ranging from 5 to 10 minutes.
Market leaders in the veterinary rapid test market have implemented a variety of organic growth strategies. IDEXX Laboratories, Inc.; Zoetis, Inc.; Virbac; Heska Corporation; Biopanda Reagents, Ltd.; Fassisi GmbH; BioNote, Inc.; SWISSAVANS AG; MEGACOR Diagnostik GmbH; and Woodley Equipment Company dominate the Veterinary Rapid Test market. The companies have been implementing various strategies that have aided the company’s growth and, as a result, have caused various changes in the market. Organic strategies such as product launches, expansion, and approvals have been used by the companies. Furthermore, the firms have used inorganic strategies such as mergers and acquisitions, partnerships, and collaborations.
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