Global Veterinary Rapid Tests Market size will expand substantially through 2032. Rising demand for point-of-care testing is creating a notable impetus for industry growth. Veterinary rapid tests provide immediate results at the point of care, eliminating the need for sample transportation and reducing turnaround time. Moreover, growing government investments in animal health are creating ample growth opportunities for the industry. In April 2023, USDA announced an investment of around USD 2.29 million to protect animal health.
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The overall veterinary rapid tests market is segmented based on product, test, application, animal, sample, end-user, and region.
Regarding the product, the veterinary rapid test readers market size will expand substantially through 2032. Recent advancements in veterinary rapid test readers will present lucrative opportunities for segment growth. Some veterinary rapid test readers can now be integrated with smartphones or tablets. By utilizing the device's camera and dedicated mobile applications, these readers can provide test result analysis and interpretation, eliminating the need for a separate reader. Smartphone integration enhances convenience and accessibility, particularly in remote or mobile veterinary settings.
Based on the test, industry value from the antigen-based rapid test will register significant gains through 2032. The ease of use and cost-effectiveness of these tests favor their adoption. Additionally, these tests can be performed at the point of care, including veterinary clinics, farms, or field settings. They do not require sophisticated laboratory equipment or specialized training, enabling veterinarians to conduct testing in remote or resource-limited areas.
Based on the application, industry value from the bacterial segment will observe significant gains through 2032. Rising prevalence of bacterial infections such as Brucellosis and others in animals has increased the need for veterinary rapid tests. Moreover, industry players in this field are focusing on novel product innovations to stand out from the competition. Growing awareness about animal health is further presenting lucrative opportunities for segment growth.
From the regional perspective, Europe veterinary rapid tests market share will grow at a notable CAGR from 2023 to 2032. Growing pet adoption has increased the demand for veterinary rapid tests in the region. As per the European Pet Food Federation, around 90 million European households, which account for 46% of the population, have companion animals. Europe is also home to major industry players such as Fassisi GmbH and others emphasizing product innovations, further contributing to regional gains.
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Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market definition
1.2 Base estimates and working
1.3 Forecast parameters
1.4 Data validation
1.5 Data sources
1.5.1 Secondary
1.5.1.1 Paid sources
1.5.1.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Veterinary rapid tests industry 3600 synopsis, 2018 – 2032 (USD Million)
2.2 Business trends
2.2.1 Product type trends
2.2.2 Test type trends
2.2.3 Application trends
2.2.4 Animal type trends
2.2.5 Sample type trends
2.2.6 End-user trends
2.2.7 Regional trends
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Global Rapid Test Market: OverviewThe demand within the global market for rapid test has been rising on account of the popularity of preliminary screening across medical facilities.
The need for diagnostic tests across various domains within healthcare has created commendable growth opportunities within the global market for rapid test.
The most unique characteristic of this form of testing is the limited use of resources and the simplicity of execution.
Hence, it is safe to assert that the demand dynamics of the global market for rapid testing would significantly improve in the years to come.
The dynamics of the aforementioned segments shall help in getting a deeper peek into the global rapid test market.A report added by Transparency Market Research (TMR) on the global market for rapid test lays value on several key dynamics that have market growth in recent times.
Moreover, the stability of rapid tests at high temperatures coupled with the short span of execution for these tests has given an impetus to the growth of the global market.
