The Business Research Company’s Veterinary Reference Laboratory Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LANDON, GREATER LANDON, UK, November 28, 2023 /EINPresswire.com/ — The global veterinary reference laboratory market is experiencing robust growth, expanding from $3.54 billion in 2022 to $4.04 billion in 2023, with a notable Compound Annual Growth Rate (CAGR) of 14.1%. Further, the market is anticipated to reach $6.53 billion by 2027, exhibiting a sustained CAGR of 12.8%.

Zoonotic Diseases Fueling Market Expansion

The escalating prevalence of zoonotic diseases is a primary driver for the growth of the veterinary reference laboratories market. Zoonotic diseases, caused by pathogenic agents like bacteria, viruses, parasites, and fungi, pose a threat to both human and animal health. Veterinary reference laboratories play a crucial role in preventing these diseases, supporting animal health, ensuring safe food production, and safeguarding public health. Notably, a significant portion of human diseases in India—816 out of 1407 in 2020—were zoonotic, underscoring the need for effective prevention measures. The rising awareness of zoonotic threats is propelling the demand for veterinary reference laboratory services.

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Key Players Shaping the Market Landscape

Major players contributing to the dynamics of the veterinary reference laboratory market include IDEXX Laboratories Inc., VCA Animal Hospitals, GD Animal Health, Boehringer Ingelheim, Zoetis Inc., Neogen Corporation, Laboklin GmbH & Co. KG, SYNLAB International GmbH, Heska Corporation, Virbac, Thermo Fisher Scientific Inc., Texas A&M Veterinary Medical Diagnostic Laboratory, University of Minnesota, Iowa State University, Vetnostics, ProtaTek International Inc., Animal and Plant Health Agency, Animal Health Diagnostic Center, National Veterinary Services Laboratory USDA-APHIS, Washington Animal Disease Diagnostic Laboratory, Kansas State Veterinary Diagnostic Laboratory, Randox Laboratories Ltd., Greencross Ltd., and Gribbles Veterinary.

Technological Advancement as a Key Market Trend

The veterinary reference laboratory market is witnessing a significant trend of technological advancement, with major companies focusing on innovation to sustain their positions. For instance, IDEXX Laboratories Inc. launched VetConnect PLUS in January 2020, a rapid digital cytology service that digitally connects veterinarians with a network of over 100 clinical pathologists. This service enables veterinarians to receive cytology interpretations in as little as 2 hours, 24/7 throughout the year. IDEXX has integrated digital cytology capacity into its reference laboratories, resulting in shorter turnaround times and expanded access to a diverse network of pathologists.

Regional Dynamics and Market Segmentation

In 2022, North America emerged as the largest region in the veterinary reference laboratory market, with the regions covered in the veterinary reference laboratory market analysis report including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The global veterinary reference laboratory market is segmented –
1) By Services: Clinical Chemistry, Hematology, Immunodiagnostics, Urinalysis, Molecular Diagnostics, Other Services
2) By Animal Type: Companion Animals, Livestock Animals
3) By Application: Clinical Pathology, Bacteriology, Parasitology, Virology, Productivity Testing, Pregnancy Testing, Toxicology Testing
4) By End User: Veterinary Hospitals, Veterinary Clinics

For comprehensive insights into market dynamics and future trends, please refer to the complete report:
https://www.thebusinessresearchcompany.com/report/veterinary-reference-laboratory-global-market-report

Veterinary Reference Laboratory Global Market Report 2023 from TBRC covers the following information:

• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Veterinary Reference Laboratory Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on veterinary reference laboratory market size, veterinary reference laboratory market drivers and trends, veterinary reference laboratory market major players, veterinary reference laboratory market competitors’ revenues, veterinary reference laboratory market positioning, and veterinary reference laboratory market growth across geographies. The veterinary reference laboratory market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the veterinary reference laboratory market report and tap into segments with the highest growth potential.

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