Veterinary Reference Laboratory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Veterinary Reference Laboratory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global veterinary reference laboratory market size reached US$ 3.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.2 Billion by 2028, exhibiting a growth rate (CAGR) of 11.7% during 2022-2028.

A veterinary reference laboratory is a private commercial facility used for diagnosing zoonotic diseases in companion and livestock animals. The labs are used for conducting routine and specialty testing on animals for the identification of brucellosis, tuberculosis, anthrax, yellow fever, rabies, measles and other disorders. They are also used for running wellness screenings, pre-anesthetic evaluations and monitoring the efficacy of the therapies. Regular testing aids in animal health protection and prevents the spread of serious zoonotic diseases. They also provide technical and scientific assistance using immunodiagnostics, hematology and molecular diagnostics and are widely used for clinical pathology, bacteriology, toxicology, virology and pregnancy testing.

The increasing prevalence of zoonotic and transboundary animal diseases (TADs) across the globe is one of the key factors driving the growth of the market. Moreover, significant rise in pet ownership and increasing preference for companion animals is also driving the market growth. As the coronavirus disease (COVID-19) continues to spread across the globe, there has been a significant increase in the demand for PCR testing in veterinary reference laboratories to analyze the effect of the virus and other pathogens in animals. Additionally, various technological advancements, such as the development of innovative rapid tests and portable instruments for point-of-care (POC) testing, are acting as other growth-inducing factors. The technologies aid in the timely diagnosis, identification and management of poison sources in animals. Other factors, including increasing animal healthcare expenditures of the consumers, along with extensive research and development (R&D) activities in the field of veterinary sciences, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global veterinary reference laboratory market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, application and animal type.

Breakup by Technology:

Clinical Chemistry

Hematology

Immunodiagnostics

ELISA

Lateral Flow Rapid Tests

Others

Molecular Diagnostics

PCR

Microassays

Others

Others



Breakup by Application:

Clinical Pathology

Toxicology

Productivity Testing

Others



Breakup by Animal Type:

Livestock Animals

Companion Animals



Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa



Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Boehringer Ingelheim GmbH, IDEXX Laboratories Inc., Neogen Corporation, Phoenix Central Laboratory for Veterinarians Inc. (Zoetis Inc.), ProtaTek International Inc. (Pharmgate LLC), Royal GD, Texas A&M Veterinary Medical Diagnostic Laboratory, VCA Inc. (Mars Incorporated) and Virbac Animal Health India Private Limited.

Key Questions Answered in This Report:

How has the global veterinary reference laboratory market performed so far and how will it perform in the coming years?

What has been the impact of COVID-19 on the global veterinary reference laboratory market?

What are the key regional markets?

What is the breakup of the market based on the technology?

What is the breakup of the market based on the application?

What is the breakup of the market based on the animal type?

What are the various stages in the value chain of the industry?

What are the key driving factors and challenges in the industry?

What is the structure of the global veterinary reference laboratory market and who are the key players?

What is the degree of competition in the industry?