Press release
Veterinary Reference Laboratory Market to reach USD 9 Bn by 2029, emerging at a CAGR of 11 percent and forecast 2023-2029
Veterinary Reference Laboratory Market
The Veterinary Reference Laboratory Market is witnessing substantial growth as it plays a vital role in identifying zoonotic illnesses in domestic and farm animals. These laboratories conduct routine and specialized tests for diseases such as brucellosis, TB, anthrax, yellow fever, rabies, measles, among others, contributing to animal health preservation and the prevention of zoonotic diseases. They offer services in clinical pathology, bacteriology, toxicology, virology, pregnancy testing, and more, leveraging molecular diagnostics, hematology, and immunodiagnostics.
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Veterinary Reference Laboratory Market Research Methodology:
This report is based on extensive research and analysis, taking into consideration trends from the past five years and the exceptional circumstances of 2022, including the regional impact of lockdowns.
What are Veterinary Reference Laboratory Market Dynamics:
Growth in the Companion Animal Population: The increasing number of companion animals globally, including dogs, cats, and others, has led to a rise in per capita spending on animal health. Urbanization and rising awareness are driving this trend.
Increasing Prevalence of Zoonotic Diseases: The growing prevalence of zoonotic and transboundary animal diseases, along with the impact of COVID-19, has increased the demand for PCR testing in veterinary reference laboratories. Technological advancements also contribute to market growth.
Veterinary Reference Laboratory Market Regional Insights:
North America: Dominated the market with a 39% share in 2022. Expected to grow at a CAGR of 8.5% through the forecast period, driven by well-established businesses, advanced healthcare infrastructure, and higher healthcare expenditure.
Asia Pacific: Anticipated to experience profitable growth due to unmet clinical needs, increased healthcare spending, and the establishment of Veterinary Reference Laboratories by international companies. Rising R&D spending and efforts to offer affordable veterinary diagnostics will boost the market in this region.
The aim of this comprehensive report is to provide stakeholders in the industry with valuable insights into the Veterinary Reference Laboratory Market. It covers past and current industry status, forecasts market size and trends, and analyzes complex data in a reader-friendly format. The report includes detailed analysis of key players, market leaders, followers, and new entrants, as well as PORTER and PESTEL analysis to assess micro-economic factors' potential impact.
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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
Due to the increasing e-commerce industry's use of non-cash payment methods globally, which is increasing the transaction application, in the market, the transaction sector is anticipated to have the bigger market size throughout the forecast period.
Online Analytical Processing (OLAP) and Online Transaction Processing (OLTP) are the two categories according to processing type. OLAP systems are anticipated to experience the fastest CAGR growth among them all during the projection period. OLAP systems are frequently used for corporate process management, sales management, forecasting, and corporate Intelligence (BI). Organisations' struggles with massive data are aided by in-memory OLAP solutions.
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Who are Veterinary Reference Laboratory Market Key Players:
1. IDEXX Laboratories, Inc.
2. VCA, Inc.
3. GD Animal Health
4. Boehringer Ingelheim
5. Zoetis Inc.
6. NEOGEN Corporation
7. LABOKLIN GmbH
8. SYNLAB International GmbH
9. Heska Corporation
10.Virbac
11.Thermo Fisher Scientific, Inc.
12.Texas A&M Veterinary Medical Diagnostic Laboratory
13.University of Minnesota
14.Iowa State University
15.Vetnostics
16.Animal Health Diagnostic Center
17.Colorado State University
18.The Pirbright Institute
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Table of content for the Veterinary Reference Laboratory Market includes:
Global Veterinary Reference Laboratory Market: Research Methodology
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
Global Veterinary Reference Laboratory Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
MandA 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.Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape (2022 to 2029)
Past Pricing and price curve by region (2022 to 2029)
Market Size, Share, Size and Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by growth and trend
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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