Global Veterinary Reference Laboratory Market to Grow at 11.69% During 2022-2027, Impelled by Rise in Animal Diseases

April 23, 2021

According to the latest report by IMARC Group, titled “Veterinary Reference Laboratory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global veterinary reference laboratory market reached a value of US$ 3.4 Billion in 2021. A veterinary reference laboratory is a facility wherein zoonotic and associated diseases are diagnosed. These laboratories perform routine or special research on pets and farm animals. Veterinary reference laboratories also conduct health screenings, pre-anesthetic examinations, and track therapy effectiveness. They provide technical and scientific assistance and consultancy on the diagnosis and treatment of multiple zoonotic diseases, such as plague, rabies, query fever and listeriosis, that can spread from animals to humans.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Veterinary Reference Laboratory Market Trends:

The increasing prevalence of transboundary animal diseases (TADs) and zoonotic diseases is primarily driving the market growth. Moreover, the growing adoption of companion animals, along with the rising demand for pet insurance is also driving the market. Besides this, the need for polymerase chain reaction (PCR) research in veterinary reference laboratories to study the effects of SARS-CoV-2 and other pathogens is contributing to the market further. Various technological advancements, such as the development of innovative rapid tests and portable instruments for point-of-care (POC) testing, are also fueling the market growth. Other factors, including increasing animal healthcare expenditures and extensive research and development (R&D) activities in veterinary sciences, are creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of 11.69% during 2022-2027.

Market Summary:

  • On the basis of the technology, the market has been divided into clinical chemistry, hematology, immunodiagnostics (ELISA, lateral flow rapid tests, and others), molecular diagnostics (PCR, microassays, and others) and others.
  • On the basis of the animal type, the market has been classified into livestock animals and companion animals.
  • Based on the application, the market has been classified into clinical pathology, toxicology, productivity testing and others.
  • On a regional basis, the market has been spread across North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some 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.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Veterinary Reference Laboratory Market to Grow at 11.69% During 2022-2027, Impelled by Rise in Animal Diseases
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