Veterinary Rapid Diagnostic Tests Market is Expected to Grow at a CAGR of 8.1% from 2023 to 2030 to Reach $1.1 Billion by 2030, According to Meticulous Research®
Veterinary rapid diagnostic tests include rapid test kits and rapid test readers used to diagnose viral, bacterial, parasitic and other conditions in companion and livestock animals. The growth in the veterinary rapid diagnostic tests market is mainly attributed to 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 and increasing global animal health expenditure, and the increasing demand for animal-derived food products. Moreover, emerging markets and increasing pet ownership are expected to offer growth opportunities for the players operating in this market.
Here are the top 10 companies operating in the Veterinary Rapid Diagnostic Tests Market
IDEXX Laboratories, Inc. (U.S.)
Incorporated in 1983 and headquartered in Delaware, U.S., IDEXX Laboratories develops, manufactures, and distributes products and provides services primarily for the companion animals, livestock and poultry, dairy, and water testing industries. The company operates through three business segments, namely, Companion Animal Group (CAG), Water Quality Products, and Livestock, Poultry, and Dairy (LPD). IDEXX operates in the veterinary rapid diagnostic tests market through the Companion Animal Group (CAG) and Livestock, Poultry, and Dairy (LPD) business segments.
Veterinary rapid diagnostic tests are provided through the Rapid Assay sub-segment in the Companion Animal Group business segment and the Livestock, Poultry, Heard Health Screening and Production Management sub-segments in the Livestock, Poultry, and Dairy business segment.
The company sells its products and offers its services in more than 175 countries and has a direct presence through its manufacturing, R&D sites, and reference laboratories in the U.S., the U.K., Canada, Australia, New Zealand, Brazil, South Africa, France, Switzerland, the Netherlands, South Korea, China, Spain, and Japan. Some of the major subsidiaries of the company are IDEXX Switzerland AG (Switzerland), IDEXX GmbH (Germany), IDEXX Laboratories Pty. Ltd. (Australia), and IDEXX Laboratories (New Zealand) Ltd., among others.
Thermo Fisher Scientific Inc. (U.S.)
Founded in 2006 and headquartered in Massachusetts, U.S., Thermo Fisher Scientific is a biotechnology company primarily engaged in life sciences research, improving patient diagnostics, and increasing laboratory productivity. It provides analytical instruments, laboratory equipment, lab services, and diagnostics instruments. The company operates through four business segments, namely, Laboratory Products & Biopharma, Life Sciences Solutions, Analytical Instruments, and Specialty Diagnostics.
The Specialty Diagnostics segment offers veterinary rapid diagnostic tests. This segment is further divided into four sub-segments, namely, Clinical Diagnostics, ImmunoDiagnostics, Microbiology, and Transplant Diagnostics and Healthcare Market Channel. The company offers veterinary rapid diagnostic tests through the ImmunoDiagnositcs business sub-segment.
The Specialty Diagnostics business segment has a direct presence in the U.S. through its operational offices. Its engineering and laboratories and production sites are present in the U.S., Sweden, Germany, the U.K., France, Switzerland, Finland, China, Canada, and Japan.
Zoetis Inc. (U.S.)
Incorporated in 2012 and headquartered in New Jersey, U.S., Zoetis is engaged in discovering, developing and commercializing medicines, vaccines, diagnostic products, services, biodevices, genetic tests and precision animal health technology. The company operates through two geographic segments, namely, the U.S. and International, and offers products for both livestock and companion animals.
The company is engaged in vaccines, anti-infectives, parasiticides, pharmaceutical products, dermatology products, medicated feed additives, animal health diagnostics, and non-pharmaceutical product categories, such as nutritional, agri-business, biodevices, genetic tests, and precision livestock farming. It offers veterinary rapid diagnostic tests through the animal health diagnostic products category.
Zoetis has R&D operations and manufacturing sites in Austria, Belgium, Brazil, China, Denmark, Spain, the U.S., Australia, India, Vietnam, and Norway. As of December 2021, the company had a headcount of approximately 12,100 employees, of which approximately 5,900 were employed in the U.S. and 6,200 in other jurisdictions. Some of its subsidiaries operating in the veterinary rapid diagnostic market are Abaxis, Inc (U.S.), Zoetis Canada, Inc. (Canada), Zoetis US LLC (U.S.), and Zoetis Belgium SA (Belgium).
Fassisi GmbH (Germany)
Founded in 2010 and headquartered in Göttingen, Germany, Fassisi GmbH manufactures and develops on-site rapid test systems. The company offers various rapid tests to detect viruses, such as Rotavirus and Coronavirus, certain parasites like Cryptosporidium parovum, and bacteria like E. Coli in livestock. The company also offers pregnancy tests, bovine IgG level tests, and Pregnancy Associated Glycoprotein (PAG) tests for cows and other animals such as piglets, lambs, and horses.
The company provides rapid tests for parvo and coronavirus and feline immunodeficiency for companion animals such as cats. The company’s major operating subsidiary in the veterinary rapid diagnostic market is Fassisi AT GmbH (Austria).
MEGACOR Diagnostik GmbH (Austria)
Founded in 1993 and headquartered in Vorarlberg, Austria, MEGACOR Diagnostik develops and distributes veterinary in vitro diagnostics for small and large animals. The company operates in two business segments, namely, MEGACOR Veterinary Diagnostics and MEGACOR Human Diagnostics.
The MEGACOR Veterinary Diagnostics segment offers rapid veterinary diagnostic tests to veterinarians, veterinary hospitals, and veterinary laboratories. Some of the products offered by this segment are fast tests, immunofluorescence tests and other test systems for detecting bacterial, viral, and parasitic infections, pathogens and their antibodies, and veterinary-relevant hormones and inflammation markers.
Meticulous Research in its latest publication on Veterinary Rapid Diagnostic Tests Market has predicted the growth of 8.1% during the forecast year 2023-2030.
Woodley Equipment Company (U.K.)
Founded in 1989 and headquartered in Bolton, England, Woodley Equipment Company provides support services and equipment solutions to the clinical trials industry. The company operates through five divisions, namely, Woodley Trial Solutions, Woodley Laboratory Diagnostics, UK Veterinary, Woodley Veterinary Diagnostics, and Quantum Vet Diagnostics. The Woodley Veterinary Diagnostics and UK Veterinary divisions offer veterinary rapid diagnostic tests.
Apart from the headquarters in England, the company also operates from its other warehouse and offices in Brooklyn, New York, U.S. It has partnered with a third-party distributor in the Netherlands and maintains a supply chain in other EU countries.
BioNote, Inc. (U.S.)
Founded in 2003 and headquartered in Minnesota, U.S., BioNote, Inc manufactures diagnostic kits and equipment for animal diseases from initial screening tests to molecular diagnosis. The company entered the US market in 2019 through its subsidiary BioNote USA. The company is expanding its operations in the US, China, Europe, and Latin America.
The company operates in the Veterinary Rapid Diagnostic Tests market through its U.S. branch. It has developed around 12 diagnostic tests and an immunoassay diagnostic analyzer for rapid and point-of-care detection and diagnosis.
Founded in 1968 and headquartered in Nice, France, Virbac develops, manufactures, and sells veterinary products and provides various products and services to diagnose, prevent, and treat most animal pathologies. Virbac BVT, a subsidiary of the Virbac group, develops, produces and markets rapid diagnostic tests for pets and production animals.
The company operates through three segments, namely, Companion Animals, Food Producing animals, and Other Businesses. The Companion Animals and Food Producing Animals segments offer rapid veterinary diagnostic tests. The Companion Animals segment is further divided into Parasiticides, Immunology, Antibiotics/Dermatology, Specialties, Equine, Specialized petfood, and Others, and the Food Producing Animals segment is further divided into Bovine parasiticides, Bovine antibiotics, other ruminant products, Pig/poultry antibiotics, other pig/poultry products, and Aquaculture.
The company has R&D sites in the U.S., France, Australia, Mexico, Vietnam, Taiwan, Chile, Uruguay, and China. The company also has subsidiaries in the U.S., Mexico, Taiwan, Australia, New Zealand, Uruguay, Vietnam, and Chile.
Biopanda Reagents Ltd. (U.K.)
Established in 2013 and headquartered in Belfast, U.K., Biopanda Reagents develops and manufactures in vitro test kits for clinical laboratories, veterinary practice, environmental protection, and food safety locally and globally. The company has been certified as an ISO 13485:2016 compliant organization accredited by the United Kingdom Accreditation Service (UKAS). Further, it offers ELISA and Rapid Test Kits for canine, feline, bovine, caprine, and other animals.
Heska Corporation (U.S.)
Founded in 1988 and headquartered in Colorado, U.S., Heska Corporation provides point-of-care laboratory instruments and consumables, digital imaging diagnostic instruments, software and services, digital cytology services, local and cloud-based data services, allergy testing and immunotherapy, and single-use offerings, such as in-clinic diagnostic tests and heartworm preventive products. The company operates through two reportable segments, namely, North America and International. It offers its veterinary diagnostic products and services under the Point of Care Laboratory category of both segments.
The company has a direct presence through its R&D sites and production facilities across the U.S., Australia, Switzerland, France, and Spain and an indirect presence through its distributor partners across the U.K., Canada, Hong Kong, Japan, South Africa, Colombia, Germany, Italy, South Korea, Poland, and Sweden.
Some of its subsidiaries operating in the veterinary rapid diagnostic tests market are Biotech Laboratories U.S.A. LLC, CVM Veterinary Diagnosis SL (Spain), and SCIL Animal Care Company GmbH (Germany).
Authoritative Research on the Veterinary Rapid Diagnostic Tests Market – Global Opportunity Analysis and Industry Forecast (2023-2030)
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