Veterinary Reference Laboratory Market at a CAGR of 11.0% by 2026| Boehringer Ingelheim, Zoetis Inc., NEOGEN Corporation, LABOKLIN GmbH, SYNLAB International GmbH, Heska Corporation

Veterinary Reference Laboratory Market report consists of market analysis by regions, especially North America, China, Europe, Southeast Asia, Japan, and India, focusing on top manufacturers in the global market, with production, price, revenue, and market share for each manufacturer. The report also includes the market drivers and market restraints that are derived from SWOT analysis. This market research report offers an in-depth overview of product specification, technology, product type, and production analysis considering major factors such as revenue, cost, gross and gross margin. A world-class Veterinary Reference Laboratory Market report showcases all the recent developments, product launches, joint ventures, mergers, and acquisitions by the several key players and brands that are driving the market.

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The prominent players in the veterinary reference laboratory market include IDEXX Laboratories, Inc. (US), VCA, Inc. (US), GD Animal Health (Netherlands), Boehringer Ingelheim (Germany), Zoetis Inc. (US), NEOGEN Corporation (US), LABOKLIN GmbH (Germany), SYNLAB International GmbH (Germany), Heska Corporation (US), Virbac (US), Thermo Fisher Scientific, Inc. (US), Texas A&M Veterinary Medical Diagnostic Laboratory (US), University of Minnesota (Veterinary Diagnostic Laboratory) (US), Iowa State University (Veterinary Diagnostic Laboratory) (US), Vetnostics (Australia), ProtaTek International Inc. (US), Animal and Plant Health Agency (UK), Animal Health Diagnostic Center (Cornell University) (US), National Veterinary Services Laboratory USDA-APHIS (US), Washington Animal Disease Diagnostic Laboratory (US), Colorado State University (Veterinary Diagnostic Laboratories) (US), The Pirbright Institute (UK), IDVet (France), Friedrich-Loeffler-Institute (FLI) (Germany), and Kansas State Veterinary Diagnostic Laboratory (US).

The global veterinary reference laboratory market is projected to reach USD 6.6 billion by 2026 from USD 3.8 billion in 2021, at a CAGR of 11.0% during the forecast period.

Factors such as the growth in the companion animal population, rising demand for pet insurance, an increasing number of veterinary practitioners in developed economies, increasing demand for animal-derived food products, and increasing incidence of transboundary and zoonotic diseases are driving the growth of this market. However, growing pet care costs and the increasing demand for POC testing and portable instruments are restraining the growth of this market to some extent.

“The immunodiagnostic services segment is expected to account for the largest share of the veterinary reference laboratory market”

The immunodiagnostic services segment accounted for the largest share of the veterinary reference laboratory market. The large share of this segment can primarily be attributed to the widespread popularity of immunodiagnostics for disease diagnosis, screening of disease progression, and observing patient response to therapy.

“The clinical pathology segment is expected to account for the largest share of the veterinary reference laboratory market”

Based on application, the clinical pathology segment accounted for the largest share of the veterinary reference laboratory market in 2020. The rising volume of pathology tests performed is the major factor driving the demand for diagnostic products and consumables for clinical pathology applications.

“The companion animals segment is expected to account for the largest share of the the veterinary reference laboratory market”

Based on animal type, the companion animals accounted for the largest share of the veterinary reference laboratory market. This segment is also projected to register the highest CAGR during the forecast period. The large share and high growth rate of this segment are largely attributed to the growing adoption of companion animals, increasing disposable incomes, growing willingness of companion animal owners to spend more on animal health, and increasing incidence of zoonotic diseases.

“North America to dominate the veterinary reference laboratory market during the forecast period”

North America accounted for the largest share of the veterinary reference laboratory market in 2020. The growth of the North American market can be attributed to the increasing adoption of companion animals, the growing pet insurance industry, rising veterinary healthcare expenditure, and the growing number of veterinary practices. In addition, a majority of players in the veterinary reference laboratory market are based in the US.

A breakdown of the primary participants for the veterinary reference laboratory market referred to for this report is provided below:

By Company Type: Tier 1–60%, Tier 2–30%, and Tier 3–10%
By Designation: C-level–30%, Director Level–50%, and Others–20%
By Region: North America–45%, Europe–15%, Asia Pacific–25%, Latin America- 10%, Middle East & Africa- 5%

Research Coverage:

The report analyzes the market for various veterinary reference laboratory and their adoption pattern. It aims at estimating the market size and future growth potential of the global veterinary reference laboratory market and different segments such as services type, application, animal type and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product & service offerings, and recent developments.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening their market presence.

This report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global veterinary reference laboratory market
Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product or service launches in the global veterinary reference laboratory market
Market Development: Comprehensive information on the lucrative emerging regions by services type, application, animal type, and region
Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global veterinary reference laboratory market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products & services of leading players in the global veterinary reference laboratory market.

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