2025-2034 Veterinary Reference Laboratory Market Roadmap: Insights for Competitive Advantage

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How Large Will the Veterinary Reference Laboratory Market Size By 2025?
The market size of the veterinary reference laboratory has seen a rapid increase in recent years. The growth can be projected from $4.33 billion in 2024 to $4.83 billion in 2025, with a compound annual growth rate (CAGR) of 11.5%. Factors contributing to the growth during the historic period comprise a rise in pet ownership, advancements in the field of veterinary medicine, increased consciousness about animal health and beneficial government initiatives.

How Big Is the Veterinary Reference Laboratory Market Size Expected to Grow by 2029?
In the coming years, the market size for veterinary reference laboratories is predicted to experience substantial expansion. It is projected to increase to $7.58 billion by 2029, with a compound annual growth rate (CAGR) of 11.9%. This growth during the projected period can be associated with the accelerating globalization of the pet trade, the mounting demand for specialized testing services and an increased emphasis on preventative healthcare. The forecast period is also expected to see significant trends such as technological advancements, the integration of information technology, the expansion of telemedicine in veterinary care, the global reach of veterinary services, the broadening of the test menu and specialization, and an emphasis on point-of-care testing.

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Which Key Market Drivers Powering Veterinary Reference Laboratory Market Expansion and Growth?
The veterinary reference laboratories market is predicted to expand owing to the mounting frequency of zoonotic diseases. These diseases are birthed from harmful bacteria, viruses, parasites, and fungi, leading to a spectrum of health issues in humans and animals that range from mild to severe, and can sometimes prove fatal. Veterinary reference labs play a pivotal role in preventing the spread of such illnesses, contributing significantly to animal health, food production safety, and overall public health. As per data updated by Centers for Disease Control and Prevention, a governmental agency in the U.S., in July 2022, zoonotic diseases are prevalent not only in the U.S. but globally. It is believed by scientists, that over 60% of known infectious diseases in humans are likely to be transmitted from animals, while 75% of new or emerging infectious diseases in humans are animal-sourced. Hence, the growing occurrence of zoonotic diseases is fueling the veterinary reference laboratories market progress.

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Which Fast-Growing Trends Are Poised to Disrupt the Veterinary Reference Laboratory Market?
Leading firms in the veterinary reference laboratories market are focusing on creating improved analytical solutions like Vello to boost veterinary diagnostics and unify lab operations. Vello is a unique diagnostic tool created to deliver fast and precise results for assessing veterinary health and managing diseases. For example, in February 2024, IDEXX Laboratories Inc., a US company associated with presenting products and services for pet animal veterinary, water testing, livestock, poultry, and dairy, unveiled Vello, a breakthrough Pet Owner Engagement Software Solution. This software helps streamline the process of interconnection between practices and clients. Exclusively designed for IDEXX practice management software, Vello aids efficient communication in veterinary practices using ezyVet®, Neo®, and Cornerstone®. It introduces automated reminders, health service warnings, and a simple mobile web platform for convenient access to pet records and scheduling appointments. This simplified process boosts practice productivity, improves client relations, and enhances overall pet care.

What Are the Emerging Segments in the Veterinary Reference Laboratory Market?
The veterinary reference laboratory market covered in this report is segmented -

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

Subsegments:
1) By Clinical Chemistry: Blood Biochemistry Panels, Electrolyte Analysis, Liver And Kidney Function Tests
2) By Hematology: Complete Blood Count (CBC), Coagulation Testing, Blood Smear Analysis
3) By Immunodiagnostics: Serology Testing, Antibody And Antigen Testing, Allergy Testing
4) By Urinalysis: Urine Chemistry Analysis, Microscopic Examination, Urine Culture And Sensitivity
5) By Molecular Diagnostics: PCR Testing, Genetic Testing, Infectious Disease Detection
6) By Other Services: Cytology, Histopathology, Parasitology

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Who Are the Global Leaders in the Veterinary Reference Laboratory Market?
Major companies operating in the 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., Texas A&M Veterinary Medical Diagnostic Laboratory, University of Minnesota, Iowa State University, Vetnostics, ProtaTek International Inc., Animal and Plant Health Agency, Animal Health Diagnostic Center, National Veterinary Services Laboratory, Washington Animal Disease Diagnostic Laboratory, Kansas State Veterinary Diagnostic Laboratory, Randox Laboratories Ltd., Greencross Ltd., Gribbles Veterinary Pathology Pty. Ltd., Mars Inc., Vaxxinova Gmbh, Pirbright Institute, Biobest Laboratories Ltd., Biovet Private Limited, Fujifilm Holdings Corporation

Which are the Top Profitable Regional Markets for the Veterinary Reference Laboratory Industry?
North America was the largest region in the veterinary reference laboratory market in 2024.The regions covered in the veterinary reference laboratory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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