The market crossed the US$ 4.12 billion mark in 2022 and is expected to hit US$ 9.07 billion by 2030, recording a CAGR of 10.40% during the forecast period.
Pune, India–The Report Veterinary Reference Laboratory Market study by “Business Market Insights” provides details about the market dynamics affecting the market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years. An increasing number of pet owners and organizations associated with companion animals, such as dogs and cats, has positively impacted the market. Additionally, untapped emerging markets, increasing demand for pet insurance and growing concern about the prevention of zoonotic diseases are some of the major factors driving the market’s growth. The immunodiagnostics segment is expected to pace with the increasing technological advancements in veterinary diagnostics and laboratories. Further, other segment such as hematology and clinical chemistry is also expected to gain traction during the forecasted year.
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Kay Players:
- IDEXX Laboratories, Inc.
- ProtaTek International, Inc.
- Sanofi
- Neogen Corporation
- Marshfield Clinic
- Zoetis
- Phoenix Lab
- GD
- VCA, Inc. (Antech Diagnostics, Inc.)
- Virbac
Recent strategic developments in the Veterinary reference laboratory market
The veterinary reference laboratory market has undergone several significant developments, and a few of these have been mentioned below:
- In October 2021, TVMDL launched a new clinical pathology service called Cytology-Urine. The Cytology-Urine test includes a full urinalysis and stained slide examination by a clinical pathologist.
- In September 2021, Heska Corporation announced the acquisition of Biotech Laboratories. Heska Corporation acquired majority ownership of Biotech Laboratories to expand its product offerings in rapid assays
- In June 2021, IDEXX Laboratories, Inc. announced the acquisition of ezyVet. The acquisition aimed to expand further its cloud software to raise the standard of care for patients, improve practice efficiency, and enable more effective communication with pet owners.
- In August 2020, IDEXX Laboratories, Inc. announced the launch of ProCyte One Hematology Analyzer. ProCyte delivers breakthrough workflow simplicity and consistent, accurate results at the point of care
Scope of the report:
In this report, the market has been segmented on the basis of:
- Technology:
- Molecular Diagnostics
- Immunodiagnostics
- Hematology
- Clinical Chemistry
- Others
- Application
- Clinical Pathology
- Virology
- Bacteriology
- Toxicology
- Others
- End User:
- Veterinary Hospitals
- Veterinary Clinics
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
Target audience for the report:
- Veterinary Lab equipment providers
- Diagnostics test reagent manufacturers and suppliers
- Other Raw material providers
- Animal-related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Veterinary NGOs
- Research institutes, organizations, and consulting companies
The report segments the Veterinary Reference Laboratory Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the Veterinary Reference Laboratory Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.
The report provides the current market size for Veterinary Reference Laboratory, defines trends and presents growth forecasts for nine years from 2022 to 2030. 2020 is considered as the base year, and 2022 to 2030 is forecast year for the entire report. All the market numbers for revenue are provided in US dollars. The market is analyzed by the supply side, considering the market penetration of Veterinary Reference Laboratory Market for all the regions globally.
The scope of the Veterinary Reference Laboratory Market Report:
The research report focuses on the current market trends, opportunities, future potential of the market, and competition in the Veterinary Reference Laboratory. The study also provides market insights and analysis of the Veterinary Reference Laboratory, highlighting the technological market trends, adoption rate, industry dynamics, and competitive analysis of major players in the industry.
The global Veterinary Reference Laboratory Market is segmented based on deployment, component, solution, application, and geography. The segmentation in this research study has been finalized post in-depth secondary research and extensive primary research. In addition, the market is also segmented on the basis of products offered by the leading participants in the industry in order to understand widely used market specific terminologies. Thus, we have incorporated the segments of the research and have finalized the market segmentation.
Major highlights of the report:
- All-inclusive evaluation of the parent market
- Evolution of significant market aspects
- Industry-wide investigation of market segments
- Assessment of market value and volume in past, present, and forecast years
- Evaluation of market share
- Tactical approaches of market leaders
- Lucrative strategies to help companies strengthen their position in the market
Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Veterinary Reference Laboratory Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2030, factoring the impact of Covid -19 Situation.
Reason to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Veterinary Reference Laboratory Market.
- Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
- The key findings and recommendations highlight crucial progressive industry trends in the Veterinary Reference Laboratory Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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