Veterinary Rapid Diagnostic Tests Market to Reach $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

The Veterinary Rapid Diagnostic Tests Market is expected to record a CAGR of 8.1% from 2023 to 2030, reaching $1.1 billion by 2030. The growth of this market is driven by the increasing prevalence of zoonotic diseases, the advantages of rapid tests over other testing methods, the growing preference for at-home and farm testing, rising awareness regarding veterinary health, increasing global animal health expenditure, and the increasing demand for animal-derived food products.

However, the lack of reimbursements and the preference for certain traditional diagnostic methods restrain the growth of this market. Additionally, emerging markets and increasing pet ownership are expected to create growth opportunities for the stakeholders in this market. However, the inadequate diagnostic infrastructure in developing countries and farmers’ lack of awareness regarding animal health are major challenges to market growth.