Veterinary Reference Laboratory Market to Witness Double Digit CAGR by 2024

The emergence of the veterinary reference laboratories is due to growth in the animal diseases. These laboratories help to recognize any disease in animals. Nowadays, adoption of the pets has risen worldwide as people became busy and they need a companion to spend time. Hence, people adopt cats, dogs, parrots, and so on. However, increasing diseases in the animal need specialized centers in order to identify animal diseases. These centers maintain a reference database, for the quick reorganization of the animal diseases.

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The global veterinary reference laboratories market is fragmented based on application, technology, animal, and geography. The global veterinary reference laboratory market is categorized on the basis of application as product testing, clinical pathology, parasitology, bacteriology, pregnancy testing, toxicology, and virology. Based on technology, the global market is classified as molecular diagnostics, Immunodiagnostic, clinical chemistry, and hematology. The immunodiagnostic technology is further sub-segmented as lateral flow rapid tests, ELISA tests, and others. Furthermore, the molecular diagnostics is sub-segmented as PCR Tests, microarrays, and others. Based on the animals, the global market is segregated as companion animals and others. The companion animals segment is further sub-segmented as horses, dogs, and cats. The others segment is sub-segmented as sheep and goats, cattle, pigs, and others. The global market is divided on the basis of geography as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Growth in the market is mainly due to rise in the animal derived product demand, which is expected to boost the global veterinary reference laboratory market. Moreover, increasing per capita animal health expenditure fuel the global market growth in the near future. Increasing livestock population is the major growth factor of the market impacting the growth positively. Growing awareness regarding zoonotic diseases may also contribute to the global veterinary reference laboratory market growth.

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North America is the dominating region in the global veterinary reference laboratory market. Demand for animal-derived food products is escalating in this region and may enhance the global market. Europe is following the same trend owing to growing number of veterinary practitioners. Asia Pacific is emerging as a leading region in the global veterinary reference laboratory market owing to increasing awareness about animal health. However, increasing livestock population also positively influences the global veterinary reference laboratory market. In addition, growing adoption of pets in this region will spur the global market in the coming years.

Market Competitive Players

Key players in the global veterinary reference laboratory market are VCA, Inc., Animal Health Diagnostic Center, Zoetis, Inc., Neogen Corporation, IDEXX Laboratories, Inc. and GD Animal Health Other major players include Marshfield Labs, Protatek Internationals Inc., Animal and Plant Health Agency, and Phoenix Central Laboratory for Veterinarians Inc.

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Veterinary Reference Laboratory Market by Geographical Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa

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