Veterinary Reference Laboratory Market to reach USD 9 Bn by 2029, emerging at a CAGR of 11 percent and forecast (2022-2029)

Veterinary Reference Laboratory Market Report Scope and Research Methodology

A veterinary reference laboratory is a privately owned institution that plays a crucial role in identifying zoonotic illnesses in domestic and farm animals. These laboratories conduct routine and specialized tests to detect diseases such as brucellosis, TB, anthrax, yellow fever, rabies, measles, among others. They also perform pre-anesthetic assessments, wellness exams, and monitor treatment effectiveness. Veterinary reference laboratories cover various specialties, including clinical pathology, bacteriology, toxicology, virology, and pregnancy testing. Moreover, they provide technical and scientific support through molecular diagnostics, hematology, and immunodiagnostics.

The report utilizes the trends of the past five years to forecast the market growth till 2029. Considering the exceptional circumstances of the year 2021 and the impact of regional lockdowns, in-depth analysis has been performed to provide accurate projections.

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What are Veterinary Reference Laboratory Market Dynamics?

1. Growth in the Companion Animal Population: The rising number of companion animals, such as dogs and cats, is a significant driver for the Veterinary Reference Laboratory Market. Increased pet ownership, as observed in the United States, Europe, and Brazil, has led to a surge in demand for animal health services. This trend is expected to continue, driving the growth of the market.
2. Increasing Prevalence of Zoonotic Diseases: The global prevalence of zoonotic and transboundary animal diseases is a key driver for the Veterinary Reference Laboratory Market. The COVID-19 pandemic has highlighted the importance of testing animals for pathogens. Technological advancements in rapid testing and portable instruments have further boosted the demand for PCR testing in veterinary reference laboratories.
3. Low Awareness in Emerging Markets: Developing nations like India, China, Brazil, and several Southeast Asian countries have a significant population of companion animals. However, low awareness about available veterinary services and limited spending on animal health pose challenges to market growth. Manufacturers of companion animal diagnostic products have primarily focused on developed markets, limiting awareness and adoption of solutions in emerging markets.

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What is Veterinary Reference Laboratory Market Segmentation?

by Animal Type
• Production Animals
• Companion Animals

by Application
• Clinical Pathology
• Toxicology
• Productivity Testing
• Others

by Service Type
• Clinical Chemistry
• Hematology
• Immunodiagnostics
• Others

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Who are Veterinary Reference Laboratory Market Key Players?

• IDEXX Laboratories, Inc.
• VCA, Inc.
• GD Animal Health
• Boehringer Ingelheim
• Zoetis Inc.
• NEOGEN Corporation
• LABOKLIN GmbH
• SYNLAB International GmbH
• Heska Corporation
• Virbac
• Thermo Fisher Scientific, Inc.
• Texas A&M Veterinary Medical Diagnostic Laboratory
• University of Minnesota
• Iowa State University
• Vetnostics
• Animal Health Diagnostic Center
• Colorado State University
• The Pirbright Institute

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Table of content for the Veterinary Reference Laboratory Market includes:

1. Global Veterinary Reference Laboratory Market: Research Methodology

2. Global Veterinary Reference Laboratory Market: Executive Summary

• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry

3. Global Veterinary Reference Laboratory Market: Competitive Analysis

• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact

4. Global Veterinary Reference Laboratory Market Segmentation

• Global Market, by Animal Type (2021-2029)
• Global Market, by Application (2021-2029)
• Global Market, by Service Type (2021-2029)

5. Regional Veterinary Reference Laboratory Market (2021-2029)

• Regional Market, by Animal Type (2021-2029)
• Regional Market, by Application (2021-2029)
• Regional Market, by Service Type (2021-2029)
• Regional Market, by Country (2021-2029)

6. Company Profile: Key players

• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments

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Regional Insights:

North America dominated the Veterinary Reference Laboratory Market with a 38% market share in 2021. The region is expected to witness significant growth at a CAGR of 8.5% throughout the forecast period. The Asia Pacific region is projected to experience profitable growth due to increased healthcare spending, unmet clinical requirements, and the establishment of veterinary reference laboratories by key international companies. Furthermore, major competitors in the international market are investing in R&D and offering affordable veterinary diagnostics and monitoring services, driving the market in the Asia Pacific region.

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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