North America Veterinary Rapid Test Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Rapid Test Kits and Rapid Test Readers), Application (Viral Diseases, Bacterial Diseases, Parasitic Diseases, Allergies, and Other Applications), and Animal Type (Companion Animals and Livestock Animals)
Market Introduction
The North America veterinary rapid test market is analyzed on the basis of three major countries: the US, Canada, and Mexico. The US holds the largest size of the market owing to factors such as owing to a wide range of effective measures adopted by government animal welfare organizations along with technological advancements, rising incidence of zoonotic diseases, and an increasing number of pet owners. The growth of the market in the country is attributable to growing adoption of dogs, increasing prevalence of diseases, and the growing pet health expenditure. The increase in the number of pet owners and rising concern to maintain the health of pets is prime factor for the market growth. For instance, as per Animal Health Institute (AHI), more than 67% of American households own pets, totaling nearly 400 million pets, including dogs, cats, horses, birds, fish, horses, and more. In addition, as per the American Pet Products Association, Inc., Americans spent over US$ 103.6 billion on their pets in 2020. Also, increasing prevalence of Zoonotic diseases is driving the demand for rapid tests. As per the CDC, each year, enteric diseases linked to animals or their environments are estimated to cause 450,000 illnesses, 5,000 hospitalizations, and 76 deaths in the US. These illnesses are attributed to contact with an animal’s feces or bodily fluids. Because of the close connection between people and animals it is important to screen these diseases on time. Rising incidence of zoonotic diseases is the major factor driving the growth of the North America veterinary rapid test market.
The outbreak of COVID-19 has impacted all the industries including veterinary sector. There was an increase in pet adoption reported due to social isolation. For instance, shelters, nonprofit rescues, private breeders all reported high consumer demand during COVID 19 in the US. Most of the consumers in the market grappled with the onset of the pandemic. The retail e-commerce platforms witnessed high growth due to several restrictions on the brick-and-mortar stores and the disruption of the overall supply channel. Sales have spiked for pet care products at home, driven by the closure of veterinary clinics. Also, the pet population has increased in the region because of lockdown and people wanting a companion. Home isolation have driven the short-term pet fostering programs that may translate into long-term pet population growth in the future. Despite some disruptions caused by COVID-19 containment measures, the long-term growth potential of the sector remains intact. Also, the COVID-19 pandemic has highlighted the adaptability and response by veterinary diagnosticians to an emerging infectious disease and their role in maintaining animal health and protecting human public health. In addition, the market players have witnessed rise in sales. For instance, IDEXX’s companion animal group (CAG) diagnostics revenue increased by 23% in Q3 2020 as compared to last year. The recent surge in ownership, driven by an increase in adoption and fostering by people confined to their homes, offers lucrative opportunities for the growth of the market.
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Market Overview and Dynamics
The veterinary rapid test market in North America is expected to grow from US$ 258.39 million in 2021 to US$ 461.52 million by 2028; it is estimated to grow at a CAGR of 8.6% from 2021 to 2028. The increasing demand for rapid tests and portable instruments, and the use of advanced technologies such as machine learning is offering potential growth opportunities for the veterinary rapid test market. There has been a paradigm shift in veterinary medicine. Artificial intelligence can be used in collecting data to manage a wide range of chronic diseases is offering an opportunity to leverage these platforms for veterinary healthcare. In the last few years, the industry has witnessed a few product launches associated with artificial intelligence. Many market players have ventured into this field to offer innovative and effective offerings. For instance, IDEXX Laboratories has deployed in-house urinalysis machine SediVue Dx that operates machine learning. In January 2019, the company updated its SediVue Dx with its Neural Network 4.0 software, expanding its diagnostic capabilities. This software update utilizes 175 million veterinary patient-generated images from ~2.5 million patient urine samples. Apart from this, the company also offers VetConnect PLUS that is a cloud-based technology helps veterinarians in accessing patients’ data from company’s diagnostic modalities. Moreover, increasing deaths of pets due to chronic diseases is also further offering opportunities for the integration of advanced technologies to enhance diagnostic capabilities. For instance, chronic kidney disease (CKD) is the most frequent cause of deaths in cats; in line with this, many players have come up with advanced solutions to enhance disease diagnosis. All the aforementioned factors will offer several opportunities for the growth of veterinary rapid test market during the forecast period.
Key Market Segments
The North America veterinary rapid test market is segmented on the bases of product, application, animal type, and country. Based on product, the market is segmented into rapid test kits and rapid test readers. The rapid test kits segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. On the basis of application, the veterinary rapid market is segmented into viral diseases, bacterial diseases, parasitic diseases, allergies, and other applications. The viral diseases segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. On the basis of animal type, the veterinary rapid test market is segmented into livestock animals and companion animals. The livestock animals segment dominated the market in 2020 and companion animals segment is expected to be the fastest growing during the forecast period. The livestock animals segment is further bifurcated into cattle, poultry, swine, and others. Similarly, the companion segment is segmented into dogs, cats, horses, and others.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the veterinary rapid test market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are HESKA CORPORATION; IDEXX LABORATORIES, INC.; Virbac; Woodley Equipment Company Ltd; and Zoetis Inc. are among others.
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- To understand the North America veterinary rapid test market landscape and identify market segments that are most likely to guarantee a strong return
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- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America veterinary rapid test market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Veterinary Rapid Test Market Segmentation
North America Veterinary Rapid Test Market -By Product
- Rapid Test Kits
- Rapid Test Readers
North America Veterinary Rapid Test Market -By Application
- Viral Diseases
- Bacterial Diseases
- Parasitic Diseases
- Allergies
- Other Applications
North America Veterinary Rapid Test Market -By Animal Type
- Livestock Animals
- Companion Animals
North America Veterinary Rapid Test Market -By Country
- US
- Canada
- Mexico
North America Veterinary Rapid Test Market -Company Profiles
- HESKA CORPORATION
- IDEXX LABORATORIES, INC.
- Virbac
- Woodley Equipment Company Ltd
- Zoetis Inc.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Veterinary Rapid Test Market – By Product
1.3.2 North America Veterinary Rapid Test Market – By Application
1.3.3 North America Veterinary Rapid Test Market – By Animal Type
1.3.4 North America Veterinary Rapid Test Market – By Country
2. Veterinary Rapid Test Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Veterinary Rapid Test Market – Market Landscape
4.1 Overview
4.2 North America PEST Analysis
4.3 Expert Opinions
5. North America Veterinary Rapid Test Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising incidences of zoonotic diseases
5.1.2 Increase in initiatives by the governments and animal welfare associations of different countries
5.2 Market Restraints
5.2.1 Limited Number of Skilled Professionals in Veterinary Diagnostics
5.3 Market Opportunities
5.3.1 Demand for Advanced Diagnostics to Improve Veterinary Disease Diagnosis
5.4 Future Trends
5.4.1 Escalating Number of Product Launches
5.5 Impact Analysis
6. Veterinary Rapid Test Market – North America Analysis
6.1 North America Veterinary Rapid Test Market Revenue Forecast and Analysis
7. North America Veterinary Rapid Test Market Analysis – By Product
7.1 Overview
7.2 North America Veterinary Rapid Test Market Revenue Share, by Product (2021 and 2028)
7.3 Rapid Test Kits
7.3.1 Overview
7.3.2 Rapid Test Kits: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Rapid Test Readers
7.4.1 Overview
7.4.2 Rapid Test Readers: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Veterinary Rapid Test Market Analysis – By Application
8.1 Overview
8.2 Veterinary Rapid Test Market Share, by Application, 2021 and 2028, (%)
8.3 Viral Diseases
8.3.1 Overview
8.3.2 Viral Diseases: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Bacterial Diseases
8.4.1 Overview
8.4.2 Bacterial Diseases: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Parasitic Diseases
8.5.1 Overview
8.5.2 Parasitic Diseases: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Allergies
8.6.1 Overview
8.6.2 Allergies: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Other Application
8.7.1 Overview
8.7.2 Other Application: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Veterinary Rapid Test Market Analysis – By Animal Type
9.1 Overview
9.2 Veterinary Rapid Test Market Revenue Share, by Animal Type (2021 and 2028)
9.3 Companion Animals
9.3.1 Overview
9.3.2 Companion Animals: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
9.3.2.1 Dogs
9.3.2.1.1 Overview
9.3.2.1.2 Dogs Market Revenue and Forecast to 2028 (US$ Mn)
9.3.2.2 Cats
9.3.2.2.1 Overview
9.3.2.2.2 Cats Market Revenue and Forecast to 2028 (US$ Mn)
9.3.2.3 Horses
9.3.2.3.1 Overview
9.3.2.3.2 Horses Market Revenue and Forecast to 2028 (US$ Mn)
9.3.2.4 Others
9.3.2.4.1 Overview
9.3.2.4.2 Others Market Revenue and Forecast to 2028 (US$ Mn)
9.4 Livestock Animals
9.4.1 Overview
9.4.2 Livestock Animals: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
9.4.2.1 Cattle
9.4.2.1.1 Overview
9.4.2.1.2 Cattle Market Revenue and Forecast to 2028 (US$ Mn)
9.4.2.2 Swine
9.4.2.2.1 Overview
9.4.2.2.2 Swine Market Revenue and Forecast to 2028 (US$ Mn)
9.4.2.3 Poultry
9.4.2.3.1 Overview
9.4.2.3.2 Poultry Market Revenue and Forecast to 2028 (US$ Mn)
9.4.2.4 Others
9.4.2.4.1 Overview
9.4.2.4.2 Others Market Revenue and Forecast to 2028 (US$ Mn)
10. North America Veterinary Rapid Test Market – Country Analysis
10.1.1 Overview
10.1.2 North America: Veterinary Rapid Test Market, by Country, 2021 & 2028 (%)
10.1.2.1 US: Veterinary Rapid Test Market– Revenue and Forecast to 2028 (USD Million)
10.1.2.1.1 US: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (USD Million)
10.1.2.1.2 US: Veterinary Rapid Test Market, by Product, 2019–2028 (USD Million)
10.1.2.1.3 US: Veterinary Rapid Test Market, by Application, 2019–2028 (USD Million)
10.1.2.1.4 US: Veterinary Rapid Test Market, by Animal Type, 2019–2028 (USD Million)
10.1.2.1.4.1 US: Veterinary Rapid Test Market, by Livestock Animals, 2019–2028 (USD Million)
10.1.2.1.4.2 US: Veterinary Rapid Test Market, by Companion Animals, 2019–2028 (USD Million)
10.1.2.2 Canada: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (USD Million)
10.1.2.2.1 Canada: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (USD Million)
10.1.2.2.2 Canada: Veterinary Rapid Test Market, by Product, 2019–2028 (USD Million)
10.1.2.2.3 Canada: Veterinary Rapid Test Market, by Application, 2019–2028 (USD Million)
10.1.2.2.4 Canada: Veterinary Rapid Test Market, by Animal Type, 2019–2028 (USD Million)
10.1.2.2.4.1 Canada: Veterinary Rapid Test Market, by Livestock Animals, 2019–2028 (USD Million)
10.1.2.2.4.2 Canada: Veterinary Rapid Test Market, by Companion Animals, 2019–2028 (USD Million)
10.1.2.3 Mexico: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (USD Million)
10.1.2.3.1 Mexico: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (USD Million)
10.1.2.3.2 Mexico: Veterinary Rapid Test Market, by Product – 2019–2028 (USD Million)
10.1.2.3.3 Mexico: Veterinary Rapid Test Market, by Application, 2019–2028 (USD Million)
10.1.2.3.4 Mexico: Veterinary Rapid Test Market, by Animal Type, 2019–2028 (USD Million)
10.1.2.3.4.1 Mexico: Veterinary Rapid Test Market, by Livestock Animals, 2019–2028 (USD Million)
10.1.2.3.4.2 Mexico: Veterinary Rapid Test Market, by Companion Animals, 2019–2028 (USD Million)
11. Impact Of COVID-19 Pandemic on North America Veterinary Rapid Test Market
11.1 Overview
12. Industry Landscape
12.1 Overview
12.2 Organic Developments
12.2.1 Overview
12.3 Inorganic Developments
12.3.1 Overview
13. Company Profiles
13.1 IDEXX LABORATORIES, INC.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Zoetis Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Virbac
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 HESKA CORPORATION
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Woodley Equipment Company Ltd
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
14. Appendix
14.1 About the Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Veterinary Rapid Test Market Revenue and Forecast to 2028 (US$ Million)
Table 2. US Veterinary Rapid Test Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 3. US Veterinary Rapid Test Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 4. US Veterinary Rapid Test Market, by Animal Type– Revenue and Forecast to 2028 (USD Million)
Table 5. US Veterinary Rapid Test Market, by Livestock Animals – Revenue and Forecast to 2028 (USD Million)
Table 6. US Veterinary Rapid Test Market, by Companion Animals – Revenue and Forecast to 2028 (USD Million)
Table 7. Canada Veterinary Rapid Test Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 8. Canada Veterinary Rapid Test Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 9. Canada Veterinary Rapid Test Market, by Animal Type– Revenue and Forecast to 2028 (USD Million)
Table 10. Canada Veterinary Rapid Test Market, by Livestock Animals – Revenue and Forecast to 2028 (USD Million)
Table 11. Canada Veterinary Rapid Test Market, by Companion Animals – Revenue and Forecast to 2028 (USD Million)
Table 12. Mexico Veterinary Rapid Test Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 13. Mexico Rapid Test Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 14. Mexico Veterinary Rapid Test Market, by Animal Type– Revenue and Forecast to 2028 (USD Million)
Table 15. Mexico Veterinary Rapid Test Market, by Livestock Animals – Revenue and Forecast to 2028 (USD Million)
Table 16. Mexico Veterinary Rapid Test Market, by Companion Animals – Revenue and Forecast to 2028 (USD Million)
Table 17. Organic Developments Done By Companies
Table 18. Inorganic Developments Done By Companies
Table 19. Glossary of Terms, North America Veterinary Rapid Test Market
LIST OF FIGURES
Figure 1. North America Veterinary Rapid Test Market Segmentation
Figure 2. North America Veterinary Rapid Test Market Segmentation, By Country
Figure 3. North America Veterinary Rapid Test Market Overview
Figure 4. Rapid Test Kits Segment Held Largest Share of North America Veterinary Rapid Test Market
Figure 5. The US to Show Significant Growth During Forecast Period
Figure 6. North America PEST Analysis
Figure 7. North America Veterinary Rapid Test Market Impact Analysis of Driver and Restraints
Figure 8. North America Veterinary Rapid Test Market – Revenue Forecast and Analysis to 2028
Figure 9. North America Veterinary Rapid Test Market Revenue Share, by Product (2021 and 2028)
Figure 10. North America Rapid Test Kits: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. North America Rapid Test Readers: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America Veterinary Rapid Test Market Share, by Application, 2021 and 2028 (%)
Figure 13. North America Viral Diseases: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America Bacterial Diseases: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Parasitic Diseases: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Allergies: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America Other Application: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. North America Veterinary Rapid Test Market Revenue Share, by Animal Type (2021 and 2028)
Figure 19. North America Companion Animals: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America Dogs Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 21. North America Cats Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 22. North America Horses Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 23. North America Others Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 24. North America Livestock Animals: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. North America Cattle Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 26. North America Swine Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 27. North America Poultry Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 28. North America Others Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 29. North America: Veterinary Rapid Test Market, by Key Country – Revenue (2021) (USD Million)
Figure 30. North America: Veterinary Rapid Test Market, by Country, 2021 & 2028 (%)
Figure 31. US: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (USD Million)
Figure 32. Canada: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (USD Million)
Figure 33. Mexico: Veterinary Rapid Test Market – Revenue and Forecast to 2028 (USD Million)
Figure 34. Impact of COVID-19 Pandemic in North American Country Markets
- HESKA CORPORATION
- IDEXX LABORATORIES, INC.
- Virbac
- Woodley Equipment Company Ltd
- Zoetis Inc.
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