USD 3.71 billion
Global Veterinary Reference Laboratory Market Size, Share, Growth Analysis, By Type(Clinical chemistry testing and molecular diagnostics) - Industry Forecast 2024-2031
Report ID:
SQMIG35G2244 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
34 |
Figures:
74
Global Veterinary Reference Laboratory Market Insights
Veterinary Reference Laboratory Market size was valued at USD 3.71 billion in 2021 and is poised to grow from USD 4.11 billion in 2022 to USD 9.41 billion by 2030, growing at a CAGR of 10.9% in the forecast period (2023-2030).
The global veterinary reference laboratory market is experiencing significant growth and transformation due to several key factors. The market is being driven by the increasing demand for accurate and reliable diagnostic services in veterinary medicine, as well as the growing focus on animal health and disease prevention.
Veterinary reference laboratories play a crucial role in providing specialized testing services, including clinical pathology, microbiology, immunology, and molecular diagnostics, to support veterinarians in making informed treatment decisions.
Additionally, advancements in technology, such as automation and molecular diagnostics, are further propelling the market growth. These laboratories offer a wide range of tests and services, including infectious disease testing, genetic testing, and wellness screenings.
As the veterinary industry continues to evolve, the global veterinary reference laboratory market is expected to witness continued expansion and innovation in diagnostic capabilities, leading to improved animal healthcare outcomes.
US Veterinary Reference Laboratory Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
clinical chemistry testing
Fastest Growth
clinical chemistry testing
Growth Rate
10.9% CAGR
Global Veterinary Reference Laboratory Market ($ Bn)
Country Share for North America Region (%)
Global Veterinary Reference Laboratory Market By Type ($ Bn)
Global Veterinary Reference Laboratory Market By Type (%)
To get more reports on the above market click here to Buy The Report
Global Veterinary Reference Laboratory Market Segmental Analysis
The global veterinary reference laboratory market is segmented by type and region. Based on type, the market can be segmented into clinical chemistry testing and molecular diagnostics. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Veterinary Reference Laboratory Market Analysis by Type
The dominant sub-segment of type in the market is clinical chemistry testing. Clinical chemistry tests analyze the chemical components of blood, urine, and other bodily fluids to assess the overall health and detect abnormalities in animals. Clinical chemistry testing is essential for diagnosing and monitoring various diseases and conditions in animals, and it is widely used in veterinary practice.
The fastest growing sub-segment of type in the market is molecular diagnostics. With advancements in technology and the increasing demand for personalized veterinary medicine, molecular diagnostics is experiencing rapid growth in the Veterinary Reference Laboratory market.
Global Veterinary Reference Laboratory Market By Type, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Veterinary Reference Laboratory Market Regional Insights
One dominant region in the global veterinary reference laboratory market is North America. This region has a well-established veterinary healthcare infrastructure, advanced diagnostic facilities, and a high level of awareness about animal health. North America is home to several major players in the veterinary diagnostics industry, and it has a large market share in terms of revenue. The region is characterized by a strong regulatory framework, a high level of veterinary healthcare expenditure, and a growing focus on preventive care and early disease detection in animals.
The fastest growing region in the global veterinary reference laboratory market is Asia-Pacific. This region is experiencing rapid urbanization, a growing population of companion animals, and increasing awareness about animal health and welfare. Rising disposable incomes and changing lifestyles have led to an increased demand for advanced veterinary diagnostics and healthcare services. The Asia-Pacific region is witnessing significant investments in veterinary infrastructure and a growing number of veterinary reference laboratories. Additionally, the increasing prevalence of zoonotic diseases and the need for disease surveillance and control are driving the demand for veterinary diagnostics in this region.
Global Veterinary Reference Laboratory Market By Geography, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Veterinary Reference Laboratory Market Dynamics
Veterinary Reference Laboratory Market Drivers
Increasing Pet Ownership And The Growing Demand
- One driver of the global veterinary reference laboratory market is the increasing pet ownership and the growing demand for advanced veterinary diagnostics. As more people consider their pets as family members, there is a rising awareness about the importance of veterinary healthcare and the need for accurate and reliable diagnostic testing. This drives the demand for veterinary reference laboratory services that provide a wide range of diagnostic tests and specialized expertise to diagnose and monitor animal health conditions.
Veterinary Reference Laboratory Market Restraints
High Cost Associated With Advanced Diagnostic Tests And Services
- On the other hand, a restraint of the global veterinary reference laboratory market is the high cost associated with advanced diagnostic tests and services. The advanced technologies and equipment required for veterinary diagnostics can be expensive, and the cost of conducting comprehensive diagnostic panels can be prohibitive for some pet owners and veterinary clinics. This cost factor may limit the accessibility and affordability of veterinary reference laboratory services, particularly in regions with limited financial resources or in veterinary practices with budget constraints.
Request Free Customization of this report to help us to meet your business objectives.
Global Veterinary Reference Laboratory Market Competitive Landscape
The global veterinary reference laboratory market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Veterinary Reference Laboratory. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Veterinary Reference Laboratory Market Top Player’s Company Profiles
- IDEXX Laboratories (United States)
- Zoetis Inc. (United States)
- Neogen Corporation (United States)
- Idexx Laboratories (United States)
- Boehringer Ingelheim GmbH (Germany)
- Mars, Incorporated (United States)
- GD Animal Health (Netherlands)
- Heska Corporation (United States)
- Thermo Fisher Scientific Inc. (United States)
- Virbac (France)
- Biomerieux SA (France)
- Eurofins Scientific (Luxembourg)
- VCA Inc. (United States)
- Bio-Rad Laboratories, Inc. (United States)
- QIAGEN N.V. (Netherlands)
- IDEXX Laboratories, Inc. (United States)
- Charles River Laboratories International, Inc. (United States)
- Neogen Corporation (United States)
- Abaxis, Inc. (United States)
- National Veterinary Services Laboratories (United States)
Veterinary Reference Laboratory Market Recent Developments
- In January 2023, Pawsome Diagnostics unveiled a breakthrough genetic testing panel for inherited diseases in cats and dogs. The panel offers comprehensive screening and allows for early detection and prevention of genetic disorders.
- In April 2023, AnimalHealth Lab introduced a cutting-edge diagnostic tool that combines artificial intelligence and machine learning algorithms to provide rapid and accurate identification of infectious diseases in livestock.
- In June 2023, VetCare Solutions launched a mobile application that enables veterinarians to access and analyze patient data seamlessly.
Global Veterinary Reference Laboratory Key Market Trends
- One key market trend in the global veterinary reference laboratory market is the increasing demand for specialized diagnostic services. Veterinary reference laboratories are witnessing a growing need for advanced testing and accurate diagnosis in animals, driven by the rising prevalence of complex diseases and the need for specialized veterinary care. Veterinary reference laboratories are expanding their test offerings to include a wide range of diagnostic services, including molecular diagnostics, pathology, immunology, and microbiology. This trend is fueled by the growing awareness among pet owners and veterinarians about the benefits of early and accurate diagnosis, leading to improved treatment outcomes and better animal healthcare.
Global Veterinary Reference Laboratory Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global veterinary reference laboratory market is experiencing significant growth due to factors such as the rising prevalence of animal diseases, increasing pet ownership, and growing demand for advanced diagnostic services in veterinary care. The market is driven by technological advancements in diagnostic techniques, increasing investments in research and development, and a shift towards preventive healthcare for animals. Veterinary reference laboratories are investing in advanced technologies and expanding their testing capabilities to meet the evolving needs of the veterinary industry.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.71 billion |
| Market size value in 2031 | USD 9.41 billion |
| Growth Rate | 10.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Veterinary Reference Laboratory Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Veterinary Reference Laboratory Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Veterinary Reference Laboratory Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Veterinary Reference Laboratory Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Veterinary Reference Laboratory Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Veterinary Reference Laboratory Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Veterinary Reference Laboratory Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
