Veterinary Reference Laboratories

Veterinary Reference Laboratories

Global Veterinary Reference Laboratory Market to Reach $6.1 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Veterinary Reference Laboratory estimated at US$3.3 Billion in the year 2020, is projected to reach a revised size of US$6.1 Billion by 2027, growing at a CAGR of 9.2% over the analysis period 2020-2027. Immunodiagnostics, one of the segments analyzed in the report, is projected to record a 8.2% CAGR and reach US$2.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Clinical Chemistry segment is readjusted to a revised 8.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $911.2 Million, While China is Forecast to Grow at 12.5% CAGR

The Veterinary Reference Laboratory market in the U.S. is estimated at US$911.2 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2027 trailing a CAGR of 12.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7% and 7.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$846.5 Million by the year 2027.

Hematology Segment to Record 9.7% CAGR

In the global Hematology segment, USA, Canada, Japan, China and Europe will drive the 9.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$399.9 Million in the year 2020 will reach a projected size of US$737.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 10.8% CAGR through the analysis period.

Select Competitors (Total 41 Featured) -

• Animal and Plant Health Agency
• Animal Health Diagnostic Center (Cornell University)
• Antech Diagnostics, Inc.
• GD Animal Health
• Idexx Laboratories, Inc.
• Marshfield Labs
• Neogen Corporation
• Phoenix Lab
• Protatek Internationals Inc.
• Zoetis, Inc.

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