As per a new research study released by Future Market Insights (FMI), the global veterinary pregnancy test kit market is set to attain a value of USD 48.9 million by 2024. Projections estimate that the market is estimated to reach USD 77 million by 2034, underscoring the ongoing positive trajectory. This anticipated growth signifies a steady CAGR of 4.7% during the forecast period.
Attributes | Key Insights |
---|---|
Veterinary Pregnancy Test Kit Market Size (2024E) | USD 48.9 million |
Market Value (2034F) | USD 77 million |
Value-based CAGR (2024 to 2034) | 4.7% |
Increasing animal health care expenditure, technological progressions, and high demand for point-of-care diagnostics pregnancy testing in animals are the factors propelling the market. Increasing awareness among farmers, veterinarians, and animal owners about the significance of animal reproductive health monitoring and management is further pushing the demand for animal pregnancy test kits.
Animal health organizations, NGOs, and private organizations are promoting artificial insemination for improved cattle reproduction, fueling the veterinary pregnancy test kit market. The development of livestock farming activities and the growing number of livestock farms are also set to propel the market by 2034.
Pet owners and breeders are boosting the adoption of pregnancy test kits to ensure the health of their animals and provide safe delivery, resulting in a significant demand for animal pregnancy test kits. Leading manufacturers and companies are investing in research & development to create point-of-care diagnostic kits, fueling the market.
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Point-of-care veterinary pregnancy test kits, using lateral flow immunoassay technology, have gained traction for quick, convenient pregnancy diagnosis in numerous animal species. Manufacturers and leading companies developed specialized pregnancy test kits for different species and sample types, catering to unique reproductive physiology between 2019 and 2023.
The veterinary pregnancy test kit market is increasingly reliant on regulatory standards and quality assurance measures to ensure product accuracy, reliability, and safety.
The global demand for these kits is growing due to the livestock industry's development and investments in animal healthcare infrastructure, particularly in emerging economies. From 2019 to 2023, the market grew at a substantial CAGR of 6.4%.
An escalating trend toward point-of-care testing in veterinary medicine is increasing due to the convenience and cost-effectiveness of on-farm veterinary pregnancy test kits. This has led to the growth of user-friendly, quick pregnancy test kits and increased importance of early pregnancy diagnosis in animals, leading to prevalent adoption worldwide.
The livestock industry's growth and rising investments in animal healthcare infrastructure are fueling the demand for veterinary pregnancy test kits. Demand for veterinary pregnancy test kits is further pushed by regulatory bodies and farmers, presenting significant growth opportunities for manufacturers and suppliers.
Based on the statistical data, industries in South Korea and the United Kingdom are set to develop relatively fast in the upcoming decade. Simultaneously, the industry in Japan and China are hitting the roof.
Countries | Projected CAGR (2024 to 2034) |
---|---|
United States | 4.7% |
United Kingdom | 5.5% |
China | 4.9% |
South Korea | 7.3% |
Japan | 5.1% |
This section will detail the markets in leading countries, including the United States, the United Kingdom, China, Japan, and South Korea. The section will further highlight the numerous reasons for advancing the growth of the market in the countries mentioned below.
Countries | Market Value (2034) |
---|---|
United States | USD 13.6 million |
United Kingdom | USD 3 million |
China | USD 12 million |
South Korea | USD 4.7 million |
Japan | USD 7.8 million |
The United States is set to rise at a CAGR of 4.7%, reaching a market value of USD 13.6 million by 2034 due to the widespread use of artificial insemination techniques and the need for pregnancy testing tools. Around 90% of veterinary hospitals in the United States provide animal insemination services, which is projected to propel product sales.
Pregnancy test kits that are easy to use and reliable are in high demand in the United States. Growing awareness among pet owners and livestock producers of the value of early pregnancy diagnosis is further projected to spur market growth in the United States.
The United Kingdom’s pet ownership market is growing, resulting in increased demand for veterinary services and products such as veterinary pregnancy test kits. This demand is propelled by the growing number of households keeping pet animals, necessitating accurate reproductive management in veterinary practices.
Technological innovation in veterinary medicine, including rapid pregnancy test kits, is a significant factor fueling the market in the United Kingdom. By 2034, the United Kingdom is projected to attain a market valuation of USD 3 million.
Japan is increasingly adopting artificial insemination techniques for breeding, propelled by the presence of numerous AI service providers. The market in Japan is further projected to grow profitably due to the increasing use of AI and fast pregnancy kits.
Japan's growing livestock industry, including cattle, goats, and sheep, is also utilizing AI for efficient reproduction management. In Japan, animal pregnancy test kits are being increasingly used to ensure timely breeding and reproductive management, contributing to increased production efficiency.
China is projected to experience substantial growth due to increasing awareness among pet owners about the significance of animal pregnancy testing. The government and animal health organizations in China are investing in artificial insemination for improved cattle reproduction, while the demand for pregnancy testing kits is propelling market growth.
The section below throws some light on leading revenue-generation segments and their future growth rates. Companies and leading manufacturers can use this data to invest in dominant products to stay ahead in the global market.
Segment | Value CAGR (2024 to 2034) |
---|---|
Pregnancy Test Kits Cassettes (Product) | 4.5% |
On Farm (End-use) | 4.4% |
By 2034, the pregnancy test kits cassettes segment is set to lead the market, demonstrating the importance of managing reproductive cycles for efficient breeding programs in agricultural settings. Pregnancy test kit cassettes are user-friendly tools that help farmers and breeders identify pregnant animals and plan breeding strategies effectively.
Based on product, the pregnancy test kits cassettes segment is set to rise at 4.5% CAGR by 2034. They provide accurate results and can be conducted by non-veterinary professionals, making them a popular choice.
On-farm animal pregnancy test kits segment is projected to experience a substantial growth rate of 4.4% from 2024 to 2034, enhancing reproductive management. As pet ownership upsurges, pet owners are increasingly concerned about their animals' reproductive health.
Pregnancy test kits for on-farm animals are essential for keeping an eye on domestic breeding operations and guaranteeing the health of both the mother and her children.
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Zoetis Services LLC, IDEXX Laboratories, Inc., Ring Biotechnology Co Ltd., Hangzhou Testsea Biotechnology Co Ltd., and Novis Animal Solutions are key veterinary pregnancy test kit manufacturers listed in the report.
Leading companies are enhancing their reach in the market by growing their product portfolios to cater to a wider range of species and testing demands.
Key providers and companies are constantly upgrading their technologies to ensure efficiency, integrity, and safety. They are also inclined towards growth approaches such as partnerships, product upgrades, and collaboration to gain a competitive edge among competitors.
For instance
Date | In September 2023 |
---|---|
Description | Nanaji Deshmukh Veterinary University, based in Madhya Pradesh, announced plans to create a pregnancy test kit for wildlife. |
Date | In June 2022 |
---|---|
Description | IDEXX Laboratories, headquartered in the United States, acquired Alerts On Fram pregnancy test, enabling early detection of pregnancy up to 28 days post-breeding. |
Date | In 2023 |
---|---|
Description | Ring Biotechnology Co. Ltd., a Beijing-based company, introduced an early pregnancy diagnosis for cows, detecting pregnancy as early as 28 to 30 days without the need for an operator. |
The market is set to reach USD 48.9 million in 2024.
Demand for veterinary pregnancy test kits is slated to inflate at a 4.7% CAGR by 2034.
The market is set to reach USD 77 million in 2034.
Zoetis Services LLC, IDEXX Laboratories, Inc., and Ring Biotechnology Co Ltd. are the key players.
On-farm segment is estimated to hold a significant market share in 2024.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 5.1. Pregnancy Test Kits Cassettes 5.2. Pregnancy Test Kits Strips 5.3. ELISA Test Kits 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Animal Type 6.1. Companion Animal 6.1.1. Canine 6.1.2. Feline 6.1.3. Equine 6.1.4. Others 6.2. Livestock Animal 6.2.1. Bovine 6.2.2. Swine 6.2.3. Caprine/Ovine 6.2.4. Others 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sample Type 7.1. Urine 7.2. Whole Blood 7.3. Plasma 7.4. Serum 7.5. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel 8.1. Veterinary Hospitals and Clinics 8.2. Retail Stores 8.3. E-commerce 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-use 9.1. On Farm 9.2. Laboratory 9.3. Home Setting 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. South Asia and Pacific 10.6. East Asia 10.7. Middle East and Africa 11. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 17. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Zoetis Services LLC 20.2. IDEXX Laboratories, Inc. 20.3. Ring Biotechnology Co Ltd. 20.4. Hangzhou Testsea Biotechnology Co. LTD. 20.5. Novis Animal Solutions 20.6. Secure Diagnostics Pvt. Ltd 20.7. J&G Biotech Ltd 20.8. EMLAB GENETICS LLC. 20.9. MEGACOR Diagnostik GmbH 20.10. BIOTRACKING, INC. 21. Assumptions & Acronyms Used 22. Research Methodology
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