The Veterinary Reference Laboratory by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Veterinary Reference Laboratory,
The veterinary reference laboratory market size has grown rapidly in recent
years. It will grow from $3.9 billion in 2023 to $4.37 billion in 2024 at a
compound annual growth rate (CAGR) of 12.2%.
The growth in the historic period
can be attributed to increasing pet ownership, advancements in veterinary
medicine, rising awareness of animal health, government initiatives.
The veterinary reference laboratory market size is expected to see rapid growth
in the next few years. It will grow to $6.85 billion in 2028 at a compound
annual growth rate (CAGR) of 11.9%. The
growth in the forecast period can be attributed to increasing globalization of
pet trade, rising demand for specialized testing services, growing focus on
preventive healthcare. Major trends in the forecast period include
technological innovations, integration of information technology, growing
telemedicine in veterinary care, globalization of veterinary services, expanding
test menu and specialization, focus on point-of-care testing.
The increasing prevalence of zoonotic diseases is expected to propel the growth
of the veterinary reference laboratories market going forward. Zoonotic
diseases are caused by pathogenic bacteria, viruses, parasites, and fungi.
These viruses can cause a wide range of ailments in humans and animals, from
moderate to severe illness and even death. Veterinary reference laboratories
are powerful and important tools for preventing zoonotic illnesses, promoting
animal health and welfare, safe food production, and public health. For
instance, in July 2021, according to the Centers for Disease Control and
Prevention, a US-based Government Agency, Zoonotic diseases are very common,
both in the United States and around the world. Scientists estimate that more
than 6 out of every 10 known infectious diseases in people can be spread from
animals, and 3 out of every 4 new or emerging infectious diseases in people
come from animals. Therefore, the increasing prevalence of zoonotic diseases is
driving the growth of the veterinary reference laboratories market.
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The veterinary reference laboratory market covered in this report is segmented
–
1) By Services: Clinical Chemistry, Hematology, Immunodiagnostics, Urinalysis,
Molecular Diagnostics, Other Services
2) By Animal Type: Companion Animals, Livestock Animals
3) By Application: Clinical Pathology, Bacteriology, Parasitology, Virology,
Productivity Testing, Pregnancy Testing, Toxicology Testing
4) By End User: Veterinary Hospitals, Veterinary Clinics
Technological advancement is a key trend gaining popularity in the veterinary
reference laboratories market. Major companies operating in the veterinary
reference laboratorie market are concentrating their efforts on creating
innovative technologies in to sustain their position. For instance, in January
2020, IDEXX Laboratories Inc., a US-based company engaged in the distribution
of products and services for companion animal veterinary, water testing,
livestock and poultry, and dairy, launched IDEXX’s proprietary VetConnect PLUS,
a new rapid digital cytology service that digitally connects veterinarians to
the world's largest network of more than 100 veterinary clinical pathologists,
allowing them to receive cytology interpretations in as little as 2 hours, the
service will be available 24 hours a day, seven days a week, 365 days a year.
IDEXX has also integrated digital cytology capacity into its reference
laboratories, allowing veterinarians who submit cytology cases to IDEXX
Reference Laboratories to benefit from shorter turnaround times as well as
expanded access to IDEXX's world-class network of pathologists. Several
reference laboratory digital cytology customers now benefit from deeper case
collaboration among IDEXX's diverse expertise, as well as increased capacity to
guide cases to the pathologist best suited to provide an interpretation.
The veterinary reference laboratory market report table of contents includes:
1. Executive Summary
2.
Veterinary Reference Laboratory Market Characteristics
3.
Veterinary Reference Laboratory Market Trends And Strategies
4.
Veterinary Reference Laboratory Market - Macro Economic Scenario
5. Global
Veterinary Reference Laboratory Market Size and Growth
.
31. Global Veterinary Reference Laboratory Market Competitive Benchmarking
32. Global
Veterinary Reference Laboratory Market Competitive Dashboard
33. Key
Mergers And Acquisitions In The Veterinary Reference Laboratory Market
34.
Veterinary Reference Laboratory Market Future Outlook and Potential Analysis
35.
Appendix
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