Veterinary Reference Laboratory Market to grow up to USD 9.8 billion by 2031, at a CAGR of 11.8% | IDEXX Laboratories, Inc. (US), VCA, Inc. (US), GD Animal Health (Netherlands), Boehringer Ingelheim (Germany)

Global Veterinary Reference Laboratory Market was valued at USD 3.2 billion in 2021 and it is anticipated to grow up to USD 9.8 billion by 2031, at a CAGR of 11.8% during the forecast period.

The global veterinary reference laboratory market report from Global Insight Services is the single authoritative source of intelligence on Veterinary Reference Laboratory Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Veterinary reference laboratory play an important role in animal health protection by preventing and controlling serious epi zoonotic disease. It is a institution where several critical function related to veterinary sciences including prevention diagnosis, treatment and monitoring of animal health are undertaken. Also they have major implications on human due to the animal to human transmission of diseases including plague, rabies, listeriosis and query fever.

Market Trends and Drivers

The number of companion animals has dramatically expanded over time, including dogs and cats. 85 million US households, or 67 percent, have pets, according to the American Pet Products Association's (APPA) National Pet Owners Survey 2019-2020. Additionally, 38 percent of homes (88 million) in Europe owned pets in 2020, according to the European Pet Food Industry Federation (FEDIAF). While the number of cats increased from 74.05 million in 2017 to 94.2 million in 2019, the number of dogs in the US increased from 69.9 million in 2017 to 89.7 million in 2019. PETS International estimates that Brazil has 54.2 million dogs, 39.8 million birds, 23.9 million cats, 19.1 million fish, and roughly 2.3 million small animals as pets in 2018. Similarly, as of 2019, India reported 20 million dogs and 19 million other domestic pets. Every year, approximately 600,000 pets are adopted in India. Hence, high adoption rate of companion animals in the urban population, rising rapid urbanization has contributed to rising per capita expenditure on animal health. Also increasing awareness of animal health, is propelling market growth.

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Global Veterinary Reference Laboratory Market Segmentation

By Technology
• Clinical Chemistry
• Haematology
• Immunodiagnostics
• Moecular Diagnostics
• Others

By Application
• Pathology
• Bacteriology
• Virology
• Parasitology
• toxicology
• Others

By Animal Type
• Companion Animal
• Livestock Animal

By Region
• North America
• Europe
• Asia Pacific

Major Players in the Global Veterinary Reference Laboratory Market

The key players in the market are 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), Vetnostics (Australia), and ProtaTek International Inc. (US) among others.

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