U.S. Veterinary Rapid Test Market Size & Outlook
U.S. veterinary rapid test market, 2018-2030 (US$M)
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U.S. veterinary rapid test market highlights
- The U.S. veterinary rapid test market generated a revenue of USD 271.8 million in 2023 and is expected to reach USD 559.2 million by 2030.
- The U.S. market is expected to grow at a CAGR of 10.9% 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.
Veterinary rapid test market data book summary
| Market revenue in 2023 | USD 271.8 million |
| Market revenue in 2030 | USD 559.2 million |
| Growth rate | 10.9% (CAGR from 2023 to 2030) |
| Largest segment | Test kits |
| Fastest growing segment | Test Kits |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, U.S. accounted for 33.1% of the global veterinary rapid test market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. veterinary rapid test market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 72.4 million by 2030.
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Veterinary Rapid Test Market Scope
Veterinary Rapid Test Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
U.S. 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 80.21% in 2023. Horizon Databook has segmented the U.S. veterinary rapid test market based on test kits, readers covering the revenue growth of each sub-segment from 2018 to 2030.
The key driver for the U.S. market is the increasing adoption of diagnostic testing due to coverage under pet insurance.
Typically, in the U.S., health insurance for pets covers diagnostic testing such as X-rays, MRI, and blood work.
Data by Forbes on January 3, 2024, covered the average pet insurance cost in the US and its coverage.
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Target buyers of U.S. 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 country-level data and insights on the U.S. veterinary rapid test market , including forecasts for subscribers. This country databook contains high-level insights into U.S. veterinary rapid test market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. veterinary rapid test market size, by product, 2018-2030 (US$M)
U.S. Veterinary Rapid Test Market Outlook Share, 2023 & 2030 (US$M)
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