Veterinary Reference Laboratory Market Expects Growth to $7.58 Billion by 2029 Driven by Globalization and Technological Advances

Accelerating at an impressive CAGR of 11.9%, the global veterinary reference laboratory market is projected to surge from $4.33 billion in 2024 to $7.58 billion by 2029 driven by rising pet ownership, advancements in veterinary medicine, and government initiatives.

What Is The Projected Market Size Of The Global Veterinary Reference Laboratory Market And Its Growth Rate?
•The market size of the veterinary reference laboratory saw rapid expansion recently. It is expected to increase from $4.33 billion in 2024 to $4.83 billion in 2025, marking a CAGR of 11.5%.
•The growth in the historic period can be linked to increasing pet ownership, advancements in veterinary medicine, and rising animal health awareness.
•The veterinary reference laboratory market size is forecasted to grow significantly in the coming years reaching $7.58 billion in 2029 at a CAGR of 11.9%.
•Increasing globalization of pet trade, rising demand for specialized testing services, and growing emphasis on preventive healthcare are predicted to fuel growth in the forecasted period.

What Is Driving The Growth In The Veterinary Reference Laboratory Market?
The escalating prevalence of zoonotic diseases, caused by pathogenic bacteria, viruses, parasites, and fungi, is anticipated to drive the growth of the veterinary reference laboratory market. These diseases lead to a range of illnesses in humans and animals from moderate to severe forms, even causing death in some cases. Veterinary reference laboratories provide critical tools for preventing zoonotic diseases, promoting safe food production, and sustaining public health. For example, according to the Centers for Disease Control and Prevention, in July 2022, over 6 out of every 10 known infectious diseases in people can be spread from animals. Thus, the rising prevalence of zoonotic diseases is expected to fuel the growth of the veterinary reference laboratory market.

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Who Are the Key Players Driving Veterinary Reference Laboratory Market Growth?
Major companies operating in the global veterinary reference laboratory market include:
•IDEXX Laboratories Inc.
•VCA Animal Hospitals Incorporated
•Royal GD
•C. H. Boehringer Sohn AG & Co. KG
•Zoetis Inc.
•Neogen Corporation
•Laboklin GmbH & Co. KG
•SYNLAB International GmbH
•Heska Corporation
•Virbac Corporation
•Thermo Fisher Scientific Inc.

What Are The Key Trends In The Veterinary Reference Laboratory Market?
Key trends in the industry include:
•Technological innovations
•Integration of information technology
•Growing trend of telemedicine in veterinary care
•Globalization of veterinary services
•Expanding test menu and specialization
•Focus on point-of-care testing

What Are The Segments Of The Global Veterinary Reference Laboratory Market?
The veterinary reference laboratory market segments include:
1)By Services: Clinical Chemistry, Hematology, Immunodiagnostics, Urinalysis, Molecular Diagnostics, Other Services
2)By Animal Type: Companion Animals, Livestock Animals
3)By Application: Clinical Pathology, Bacteriology, Parasitology, Virology, Productivity Testing, Pregnancy Testing, Toxicology Testing
4)By End User: Veterinary Hospitals, Veterinary Clinics

Which Region Leads The Veterinary Reference Laboratory Market?
North America was the largest region in the veterinary reference laboratory market in 2024. Other regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.

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What Is Covered In The Veterinary Reference Laboratory Market Global Market Report?
- Market Size Analysis: Analyze the Veterinary Reference Laboratory Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Veterinary Reference Laboratory Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Veterinary Reference Laboratory Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Veterinary Reference Laboratory Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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