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Global Veterinary Reference Laboratory Market - Industry Trends and Forecast to 2031

Healthcare

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Global Veterinary Reference Laboratory Market - Industry Trends and Forecast to 2031

  • Healthcare
  • Upcoming Report
  • Feb 2024
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Veterinary Reference Laboratory Market, By Service Type (Clinical Chemistry, Immunodiagnostics, Molecular Diagnostics, Hematology), Application (Pathology, Bacteriology, Virology, Parasitology, Other Applications), Animal Type (Livestock Animals, Companion Animals) - Industry Trends and Forecast to 2031.

Veterinary Reference Laboratory Market

Veterinary Reference Laboratory Market Analysis and Size

The veterinary reference laboratory specializes in the high value of animal health diagnostic tests and international services. Clinical chemistry, cytopathology, hematology, urinalysis, endocrinology, parasitology, microbiology, histopathology, and serology are among the testing services provided by the reference laboratory. As a result, players and reference laboratories have been compelled to develop new and improved animal testing.

Data Bridge Market Research analyzes that the global veterinary reference laboratory market which was USD 4.49 billion in 2023, is likely to reach up to USD 10.06 billion by 2031 and is expected to undergo a CAGR of 10.59% during the forecast period. “Molecular diagnostics” dominates the service type segment of the veterinary reference laboratory market due to the growing advancements in molecular and cellular technology with rising research activities.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By Service Type (Clinical Chemistry, Immunodiagnostics, Molecular Diagnostics, Hematology), Application (Pathology, Bacteriology, Virology, Parasitology, Other Applications), Animal Type (Livestock Animals, Companion Animals)

Countries Covered

U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Sweden, Denmark, Poland, Rest of Europe, Japan, China, Australia, New Zealand, India, South Korea, Singapore, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Saudi Arabia, South Africa, U.A.E., Israel, Egypt, Ethiopia, Rest of the Middle East and Africa

Market Players Covered

IDEXX Laboratories, Inc (U.S.), VCA, Inc. (U.S.), GD Animal Health (Netherlands), Boehringer Ingelheim (Germany), Zoetis Inc. (U.S.), NEOGEN Corporation (U.S.), SYNLAB International GmbH (Germany), Thermo Fischer Scientific, Inc. (U.S.), Heska Corporation (U.S.), Virbac (U.S.)

Market Opportunities

  • Growing focus on preventive healthcare

Market Definition

A veterinary reference laboratory refers to a specialized laboratory that provides diagnostic testing services for animals. These laboratories use advanced equipment and techniques to identify and diagnose diseases in animals, such as livestock, pets, and zoo animals. The tests performed at these facilities can range from basic blood tests to more complex procedures like biopsies and PCR (polymerase chain reaction) assays.

Global Veterinary Reference Laboratory Market Dynamics         

Drivers

  • Increasing demand of meat and other animal products

 The rising demand for meat and other animal products often leads to an increased focus on livestock health. Veterinary reference laboratories play a crucial role in monitoring and maintaining the health of livestock through diagnostic tests, disease surveillance, and preventive healthcare measures. Veterinary reference laboratories contribute to disease control by providing rapid and accurate diagnostic services, helping to prevent and manage outbreaks that could affect the production of meat and other animal products.

  • Rising Pet Ownership

The rising trend of pet ownership, especially in developed countries, contributes to the growth of veterinary services, including diagnostic testing provided by reference laboratories. More pets mean a higher demand for veterinary services, ranging from routine check-ups and vaccinations to more specialized treatments. Veterinary reference laboratories play a crucial role in supporting these services by providing advanced diagnostic tests, pathology services, and other specialized diagnostics.

Opportunity

  • Growing Focus on Preventive Healthcare

There is an increasing emphasis on preventive healthcare for animals, including routine check-ups and early disease detection. Veterinary reference laboratories can seize the opportunity to offer preventive health screening packages and promote the importance of regular veterinary visits for maintaining overall animal well-being.

Restraints/ Challenges

  • Stringent Regulatory Environment

Stringent regulations and compliance requirements in the veterinary industry can pose challenges for reference laboratories. Meeting these standards might be costly and time-consuming. Veterinary reference laboratories often seek accreditation or certification from relevant regulatory bodies. Accreditation ensures that the laboratory meets specific quality and performance standards.

  • Supply Chain Disruptions

Global events, such as pandemics or geopolitical issues, can disrupt the supply chain for laboratory equipment, reagents, and consumables. This can lead to delays in testing processes and impact the overall efficiency of veterinary reference laboratories.

  • Shortage of Skilled Personnel

There may be a shortage of trained professionals, including veterinary pathologists and technicians, capable of conducting specialized diagnostic tests. Attracting and retaining skilled personnel can be a challenge for laboratories.

Recent Developments

  • In November 2022, VolitionRx Limited launched its Nu.Q Vet Cancer Screening Test across the U.S. and Europe through Heska Corporations' veterinary diagnostic laboratories
  • In June 2022, IDEXX Laboratories Inc. launched new reference laboratory tests and services to help veterinarians gain insights during wellness screenings, develop treatment plans for cats with chronic kidney disease, and access fast, definitive answers for the most critical cases

Global Veterinary Reference Laboratory Market Scope

The veterinary reference laboratory market is segmented on the basis of service type, application and animal type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Service type

  • Clinical chemistry
  • Immundiagnostics
  • Molecular Diagnostics
  • Hematology

Application

  • Pathology
  • Bacteriology
  • Virology
  • Parasitology
  • Others

Animal type

  • Livestock Animals
  • Companion Animals

Global Veterinary Reference Laboratory Market Regional Analysis/Insights

The veterinary reference laboratory market is analyzed and market size insights and trends are provided by country, service type, application and animal type as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Sweden, Denmark, Poland, rest of Europe, Japan, China, Australia, New Zealand, India, South Korea, Singapore, Indonesia, Thailand, Malaysia, Philippines, Vietnam, rest of Asia-Pacific, Brazil, Argentina, rest of South America, Saudi Arabia, South Africa, UAE, Israel, Egypt, Ethiopia, and rest of the Middle East and Africa.

North America is expected to dominate the market due to the presence of advanced healthcare infrastructure. Also, increasing disease burden, presence of better veterinary care and services, and increasing veterinary healthcare expenditure in the region.

Asia-Pacific is expected to be the fastest growing region in the market due to rising awareness of animal health and zoonotic diseases, rising pet healthcare spending, and increasing focus of prominent players on emerging markets.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.  

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The veterinary reference laboratory market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the veterinary reference laboratory market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the veterinary reference laboratory market.

Competitive Landscape and Global Veterinary Reference Laboratory Market Share Analysis

The veterinary reference laboratory market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the veterinary reference laboratory market.

Some of the major players operating in the veterinary reference laboratory market are:

  • IDEXX Laboratories, Inc (U.S.)
  • VCA, Inc. (U.S.)
  • GD Animal Health (Netherlands)
  • Boehringer Ingelheim (Germany)
  • Zoetis Inc. (U.S.)
  • NEOGEN Corporation (U.S.)
  • SYNLAB International GmbH (Germany)
  • Thermo Fischer Scientific, Inc. (U.S.)
  • Heska Corporation (U.S.)
  • Virbac (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Veterinary Reference Laboratory Market size will be worth USD 10.06 billion by 2031
The Veterinary Reference Laboratory Market growth rate is 10.59% during the forecast period.
The Increasing demand of meat and other animal products and Rising Pet Ownership are the growth drivers of the Veterinary Reference Laboratory Market.
The service type, application, and animal type are the factors on which the Veterinary Reference Laboratory Market research is based.
The major companies in the Veterinary Reference Laboratory Market are IDEXX Laboratories, Inc (U.S.), VCA, Inc. (U.S.), GD Animal Health (Netherlands), Boehringer Ingelheim (Germany), Zoetis Inc. (U.S.), NEOGEN Corporation (U.S.), SYNLAB International GmbH (Germany), Thermo Fischer Scientific, Inc. (U.S.), Heska Corporation (U.S.), Virbac (U.S.).
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