Press release
Veterinary Reference Laboratory Market Valuation US$ 7.2 Billion During 2023-2028 | Growth Rate (CAGR) of 11.98%
Veterinary Reference Laboratory Market
The global veterinary reference Laboratory market size reached US$ 3.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.2 Billion by 2028, exhibiting a growth rate (CAGR) of 11.98% during 2023-2028.
A veterinary reference laboratory refers to a private commercial facility that diagnoses zoonotic diseases in livestock and companion animals. These labs conduct routine and specialty testing on animals to detect tuberculosis, yellow fever, measles, brucellosis, anthrax, rabies, and other diseases. Veterinary reference labs are also used for running pre-anesthetic evaluations, wellness screenings, and monitoring the efficacy of therapies. Regular testing prevents the spreading of severe zoonotic diseases and aids in animal health protection. The veterinary reference laboratory also provides scientific and technical assistance using molecular diagnostics, hematology, and immunodiagnostics.
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Market Trends:
The rising prevalence of transboundary animal diseases (TADs) and zoonotic diseases worldwide primarily drives the veterinary reference laboratory market. Furthermore, increasing preferences for companion animals and significant growth in pet ownership also augment the market growth. Moreover, the emergence of portable instruments for point-of-care (POC) testing and rapid tests is further bolstering the global market for veterinary reference laboratory.
Explore the Full Report with TOC & List of Figures: https://www.imarcgroup.com/veterinary-reference-laboratory-market
Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
• Boehringer Ingelheim GmbH
• IDEXX Laboratories Inc.
• Neogen Corporation
• Phoenix Central Laboratory for Veterinarians Inc. (Zoetis Inc.)
• ProtaTek International Inc. (Pharmgate LLC)
• Royal GD
• Texas A&M Veterinary Medical Diagnostic Laboratory
• VCA Inc. (Mars Incorporated)
• Virbac Animal Health India Private Limited
Key Market Segmentation:
Breakup by Technology:
• Clinical Chemistry
• Hematology
• Immunodiagnostics
o ELISA
o Lateral Flow Rapid Tests
o Others
• Molecular Diagnostics
o PCR
o Microassays
o Others
• Others
Breakup by Application:
• Clinical Pathology
• Toxicology
• Productivity Testing
• Others
Breakup by Animal Type:
• Livestock Animals
• Companion Animals
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company's expertise.
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