Product Code: RP-ID-10265703 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10265703
Market Overview:
Global Veterinary Reference Laboratory Market Size study, by Type of Service (Immunodiagnostic Services, Clinical Chemistry Services, Molecular Diagnostic Services, Hematology Services, Urinalysis Services), by Application (Clinical Pathology, Bacteriology, Virology, Parasitology, Productivity Testing, Pregnancy Testing, Toxicology Testing), by Animal (Companion Animals, Livestock Animals) and Regional Forecasts 2019-2026
Global Veterinary Reference Laboratory Market is valued approximately at USD 2.60 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 11.41% over the forecast period 2019-2026. Veterinary reference laboratories are potent and crucial tools for the prevention of zoonotic diseases and promotion of animal health and welfare, safe food production, and public health. It plays an important role in animal health protection by preventing and controlling serious epi zoonotic diseases. These laboratories have major implication on human health because of the animal to human transmission of diseases such as plaque, rabies, query fever and listeriosis. Growing adoption of pets, demand for pet insurance, surging demand for animal-derived food, and rising incidence of trans-boundary and zoonotic diseases are the few factor responsible for high CAGR of the market over the forecast period. For instance, as per the North American Pet Health Insurance Association (NAPHIA), the total number of pets insured reached 2.43 million at year-end 2018, up by over 17 percent from 2017. The association also reported that the pet health insurance sector for the U.S. and Canada published a combined gross written premium of USD 1.42 billion in 2018, representing an increase from USD 1.15 billion since 2017. Moreover, growing public-private partnerships in veterinary health is the major factor likely to create lucrative growth opportunities to the market growth in the forecasting years. However, escalating pet care costs, lack of standardization, improper facilities and a shortage of skilled professional in veterinary reference laboratories are limiting the growth of global veterinary reference laboratory market during the forecast period.
The regional analysis of global Veterinary Reference Laboratory Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the escalating adoption of companion animals, the increasing pet insurance industry, rising veterinary healthcare expenditure, and the growing number of veterinary practices in the region. However, North America is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026.
Major market player included in this report are:
IDEXX Laboratories, Inc.
VCA, Inc.
GD Animal Health
Boehringer Ingelheim
Zoetis, Inc.
Neogen Corporation
Laboklin GmbH
Synlab International GmbH
Marshfield Labs
Texas A&M Veterinary Medical Diagnostic Laboratory
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type of Service:
Immunodiagnostic Services
Clinical Chemistry Services
Molecular Diagnostic Services
Hematology Services
Urinalysis Services
By Application:
Clinical Pathology
Bacteriology
Virology
Parasitology
Productivity Testing
Pregnancy Testing
Toxicology Testing
By Animal:
Companion Animals
Livestock Animals
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Veterinary Reference Laboratory Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
VCA, Inc.
GD Animal Health
Boehringer Ingelheim
Zoetis, Inc.
Neogen Corporation
Laboklin GmbH
Synlab International GmbH
Marshfield Labs
Texas A&M Veterinary Medical Diagnostic Laboratory
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