Europe Veterinary Rapid Test Market Growth and Analysis by 2028

The veterinary rapid test market in Europe is expected to grow from US$ 209.59 million in 2021 to US$ 361.67 million by 2028; it is estimated to grow at a CAGR of 8.1% from 2021 to 2028.

Germany, France, UK, Spain, and Italy are major economies in Europe. At present, the veterinary market is receiving a significant improvement from initiatives led by the animal welfare association’s governments and of several countries. To increase the adoption of veterinary testing services, governments directly take part by raising awareness among the population concerning animal diseases and the privatization of animal healthcare services. Thus, the major awareness programs and support from several organizations for animal healthcare are contributing to the market growth for veterinary rapid testing.

The countries in Europe are highly affected due to the Covid-19 pandemic. The European countries such as Italy and Spain have registered the maximum number of deaths due to the coronavirus. However, the animal health industry in European countries is minimally affected. The rapid increase in pet care spending in developed markets such as the UK, Germany, and France has also been accompanied by a surge in demand from newer and more dynamic markets. In many countries, millennials are increasingly seeing pets as an alternative to children, driving pet adoption. For instance, demand for dogs and cats has surged in Germany due to the pandemic. According to the German Kennel Club (VDH), in 2020, around 20% more dogs were purchased than the previous year. This is offering lucrative opportunities for the growth of the market in the coming years. As the COVID-19 crisis unfolds, the increase in pet care spending will change. At present, the short-term effects of the pandemic have been mixed. Yet, the market has not witnessed a sharp decline in terms of growth. Also, as livestock species are not susceptible to COVID-19 infection, the disease had no direct impact on food producing animals. Nevertheless, the COVID-19 pandemic had short and medium-long term indirect impacts on the health and welfare of livestock such as changes in food demand and COVID-19 hotspots in slaughterhouses. Therefore, the pet care sector appears to be well-prepared to tackle the COVID-19 crisis, and its long-term growth potential remains intact.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive veterinary rapid test market. The Europe veterinary rapid test market is expected to grow at a good CAGR during the forecast period.

Europe Veterinary Rapid Test Market Segmentation

     

Europe Veterinary Rapid Test Market – By Product

• Rapid Test Kits
• Rapid Test Readers

Europe Veterinary Rapid Test Market – By Application

• Viral Diseases
• Bacterial Diseases
• Parasitic Diseases
• Allergies
• Other Applications

Europe Veterinary Rapid Test Market – By Animal Type

• Livestock Animals
  • Cattle
  • Poultry
  • Swine
  • Others
• Companion Animals
  • Dogs
  • Cats
  • Horses
  • Others

Europe Veterinary Rapid Test Market- By Country

• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe

Europe Veterinary Rapid Test Market-Companies Mentioned

• Biopanda Reagents Ltd
• Fassisi GmbH
• HESKA CORPORATION
• IDEXX LABORATORIES, INC.
• MEGACOR Diagnostik GmbH
• Swissavans AG
• Virbac
• Woodley Equipment Company Ltd
• Zoetis Inc.

Europe Veterinary Rapid Test Report Scope