Latin America Veterinary Rapid Test Market Size & Outlook
Latin America veterinary rapid test market, 2018-2030 (US$M)
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Latin America veterinary rapid test market highlights
- The Latin America veterinary rapid test market generated a revenue of USD 64.2 million in 2023.
- The market is expected to grow at a CAGR of 13.4% from 2024 to 2030.
- In terms of segment, test kits was the largest revenue generating product in 2023.
- Test Kits is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 64.2 million |
| Market revenue in 2030 | USD 154.5 million |
| Growth rate | 13.4% (CAGR from 2023 to 2030) |
| Largest segment | Test kits |
| Fastest growing segment | Test Kits |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Test Kits, Readers |
| Key market players worldwide | Zoetis Inc Class A, IDEXX Laboratories Inc, Virbac SA, Mars Group Holdings Corp, Thermo Fisher Scientific Inc, Neogen Corp, Merck & Co Inc, Bosterbio |
Other key industry trends
- In terms of revenue, Latin America region accounted for 7.8% of the global veterinary rapid test market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 411.7 million by 2030.
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Veterinary Rapid Test Market Scope
Veterinary Rapid Test Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America veterinary rapid test market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to veterinary rapid test market will help companies and investors design strategic landscapes.
Test kits was the largest segment with a revenue share of 80.06% in 2023. Horizon Databook has segmented the Latin America veterinary rapid test market based on test kits, readers covering the revenue growth of each sub-segment from 2018 to 2030.
The veterinary diagnostic test kit market in Latin America is heavily impacted by parameters unique to major countries.
Infectious diseases that cause high death rates in beef cattle are a major market driver in Brazil, where it is crucial to have prompt diagnostic treatment to avoid financial losses.
Due to its thriving beef cattle business and the increasing demand for disease & pregnancy diagnostics in the breeding sector, Mexico, the world's largest beef importer, is seeing an increase in the need for veterinary diagnostic test kits.
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Target buyers of Latin America veterinary rapid test market databook
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Our clientele includes a mix of veterinary rapid test market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America veterinary rapid test market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America veterinary rapid test market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Latin America veterinary rapid test market size, by country, 2018-2030 (US$M)
Latin America Veterinary Rapid Test Market Outlook Share, 2023 & 2030 (US$M)
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