The global veterinary reference laboratory market is forecast to grow at a compound annual growth rate (CAGR) of more than 9% during the forecast period from 2022-2030.
Veterinarian reference laboratories (VRLs) perform various services associated with veterinary medicine, including diagnosis, treatment, prevention, and monitoring of animals’ health & disease. Veterinary reference laboratory covers many fields including, pathologies, bacteriology, parasitology, and pregnancy testing, among others.
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Factors Affecting
- There has been a significant increase in the availability of veterinary reference laboratories in many countries because of the adoption of animals, mainly dogs, and cats. Thus, forecast to drive the market demand.
- Pet care products and services are forecast to grow in demand over the forecast period, which will further contribute to the growth of the veterinary reference laboratories market.
- The lack of awareness or even ignorance of animal health is harming the growth of the veterinary reference laboratory market.
Impact Analysis of COVID-19
There was a decline in inpatient visits to the veterinary reference laboratories due to Covid-19. As a result, the market for VRL entirely ceased to exist. In correlation with the decrease in samples received, the number of animal tests decreased. It led to a shift in emphasis from providing medical equipment to assisting human testing laboratories. Therefore, all the segments that fall under veterinary reference laboratories have stopped operating, thereby negatively impacting the market for VRLs.
Regional Analysis
The market held dominance by North America, which anticipates continuing in this trend in the forecast period. Numerous factors contribute to the region’s success, including a developed healthcare infrastructure equipped with advanced technology and high healthcare expenditures. In addition, the region’s key market players help make real-time services and products available.
Due to the large population of tame animals in Asia-Pacific, the market will grow for veterinary reference laboratories. The increasing pet approval, raising awareness about animal health, and increasing per capita animal health expenditures, especially in emerging countries, are additional factors fueling the veterinary reference laboratories market in the region. In addition, livestock farming is a valuable source of income in several advancing nations.
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Leading Competitors
The leading prominent players in the global veterinary reference laboratory market are:
- Boehringer Ingelheim (Europe)
- Boehringer Ingelheim (Germany)
- GD Animal Health (Netherlands)
- IDEXX Laboratories, Inc. (United States)
- Laboklin GMBH (Germany)
- Neogen Corporation (United States)
- ProtaTek International (United States)
- Synlab International GMBH
- The Pirbright Institute (United Kingdom)
- TVMDL Texas A&M Veterinary Medical Diagnostic Laboratory (United States)
- VCA Inc. (United States)
- Veterinary Diagnostic Laboratory (United States)
- Zoetis Inc. (United States)
- Other Prominent Players
Scope of the Report
The global Veterinary Reference Laboratory Market segmentation focuses on Type of Service, Application, Animal, and Region.
Segmentation based on Type of Service
- Clinical Chemistry Services
- Immunodiagnostic Services
- Hematology Services
- Urinalysis Services
- Molecular Diagnostic Services
- Other Services (Includes Microbiology Tests and Histopathology Tests)
Segmentation based on Application
- Clinical Pathology
- Bacteriology
- Virology
- Parasitology
- Productivity Testing
- Pregnancy Testing
- Toxicology Testing
Segmentation based on Animal
- Companion Animals
- Dogs
- Cats
- Horses
- Other Companion Animals (Includes Rabbits, Reptiles, Pet Fish, and Birds)
- Livestock Animals
- Cattle
- Pigs
- Poultry
- Other Livestock
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Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Aim of the Report
- This study aims to determine the market size of various segments and countries with forecast values for next ten years.
- Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
- It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.
- The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.
What is the goal of the report?
-The market report presents the estimated size of the Healthcare market at the end of the forecast -period.
-The report also examines historical and current market sizes.
-During the forecast period, the report analyzes the growth rate, market size, and market valuation.
-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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