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Veterinary Reference Laboratory Market: 2021 Future Set to Massive Growth with High CAGR value

The Veterinary Reference Laboratory Market report delivers a holistic analysis to understand the development scope of and derive the growth rate for the forecast period. The report particularizes the market condition and forecasts the market size in the future.  The report further studies the opportunities, influencers, driving factors, and limitations, by a thorough study of the leading market players of the Medical Devices industry from different global regions, their product/service types, and application markets. The prime aim of the report is to determine the revenue growth, market value, market share, CAGR, scope, challenges, growth promoters, etc.

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Prominent Players:

IDEXX Laboratories, Inc. (US),
VCA, Inc. (US),
GD Animal Health (Netherlands),
Zoetis Inc. (US),
Neogen Corporation (US),
Boehringer Ingelheim (Germany),
Marshfield Labs (US),
ProtaTek International (US),
Texas A&M Veterinary Medical Diagnostic Laboratory (US),
Veterinary Diagnostic Laboratory – University of Minnesota (US),
and Veterinary Diagnostic Laboratory, Iowa State University (US).
The global veterinary reference laboratories market size is projected to reach USD 5.6 billion by 2025 from USD 3.4 billion in 2020, at a CAGR of 10.5%. The growth in this market is driven by the increase in the companion animal population, rising demand for pet insurance, and growth in the number of veterinary practitioners in developed economies. However, the growing demand for rapid tests and portable instruments for point-of-care (POC) services and increasing pet care costs are expected to restrain market growth to a certain extent.

Breakdown of primary participants is as mentioned below:

By Company Type: Tier 1: 22%, Tier 2: 50%, and Tier 3: 28%
By Designation: C-level Executives: 17%, Directors: 25%, and Others: 58%
By Region: North America: 28%, Europe: 22%, Asia Pacific: 30%, Middle East & Africa: 12%, and Latin America: 8%
“The clinical chemistry segment is projected to witness the highest growth in the veterinary reference laboratories market, by type of service, during the forecast period.”

Based on the type of service, the veterinary reference laboratories market is segmented into clinical chemistry, immunodiagnostics, hematology, urinalysis, molecular diagnostics, and other services. The clinical chemistry segment is projected to register the highest CAGR during the forecast period. The high growth in this market can be attributed to the increased preference for various advanced clinical diagnostic services by veterinarians, pet owners, and laboratory technicians.

“Clinical pathology is the fastest-growing application segment of the veterinary reference laboratories market.”

Based on the application, the veterinary reference laboratories market is segmented into clinical pathology, bacteriology, virology, parasitology, productivity testing, pregnancy testing, and toxicology. The clinical pathology segment is expected to register the highest CAGR during the forecast period, primarily due to the large volume of pathology tests performed.

Companion animals dominate the veterinary reference laboratories market

Based on animals, the veterinary reference laboratories market is segmented into livestock animals and companion animals. The companion animal segment is expected to grow at the highest CAGR during the forecast period. The increasing adoption of companion animals and the rising incidence of zoonotic diseases in these animals are the major factors driving the growth of this segment.

“Asia Pacific market to witness the highest growth during the forecast period”

Asia Pacific is expected to witness the highest growth during the forecast period (2020 to 2025), owing to factors such as a rise in demand for pet insurance and increasing pet healthcare expenditure. Moreover, a growing population of food-producing animals & the need for animal-derived food products, rising awareness of zoonotic animals, and the increasing number of veterinary hospitals and clinics are expected to drive growth in this region.

Research Coverage:

The report analyzes the veterinary reference laboratories market and estimates the market size and future growth potential of this market based on various segments, such as type of service, application, animal, and region. It also covers competitive leadership mapping, which helps in analyzing the position of key market players as visionary leaders, innovators, dynamic players, and emerging players. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them to garner a greater market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their position in the market.

This report provides insights into the following pointers:

Market Penetration: Comprehensive information on product portfolios offered by the top players in the global veterinary reference laboratories market. The report analyzes this market by type of service, application, animal, and region.
Product Enhancement/Innovation: Detailed insights on upcoming trends and service launches in the global veterinary reference laboratories market.
Market Development: Comprehensive information on the lucrative emerging markets by type of service, application, animal, and region.
Market Diversification: Exhaustive information about new testing services, growing geographies, recent developments, and investments in the global veterinary reference laboratories market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, service offerings, and capabilities of leading players in the global veterinary reference laboratories market.
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Table Of Contents

1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.2.1 Inclusions And Exclusions
1.3 Market Scope
1.3.1 Markets Covered
1.4 Years Considered For The Study
1.5 Currency
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Approach
Figure 1 Research Design
2.1.1 Secondary Sources
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Sources
Table 1 List Of Stakeholders Interviewed For The Study
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
Figure 2 Breakdown Of Primary Interviews: By Company Type, Designation, And Region
2.2 Market Size Estimation
2.3 Market Breakdown And Data Triangulation
Figure 3 Data Triangulation Methodology
2.4 Market Share Estimation
2.5 Assumptions For The Study
2.5.1 Assumptions For The Study

3 Executive Summary
Figure 4 Veterinary Reference Laboratories Market, By Type Of Service, 2020 Vs. 2025 (Usd Million)
Figure 5 Veterinary Reference Laboratories Market, By Animal Type, 2020 Vs. 2025 (Usd Million)
Figure 6 Veterinary Reference Laboratories Market, By Application, 2020 Vs. 2025 (Usd Million)
Figure 7 Geographical Snapshot Of The Veterinary Reference Laboratories Market

4 Premium Insights
4.1 Veterinary Reference Laboratories Market Overview
Figure 8 Growing Companion Animal Population To Drive Market Growth During The Forecast Period
4.2 Asia Pacific: Veterinary Reference Laboratories Market, By Type Of Service & Country (2019)
Figure 9 Immunodiagnostics Accounted For The Largest Share Of The Apac Veterinary Reference Laboratories Market In 2019
4.3 Veterinary Reference Laboratories Market: Geographic Growth Opportunities
Figure 10 India To Register The Highest Growth In The Veterinary Reference Laboratories Market During The Forecast Period
4.4 Veterinary Reference Laboratories Market: Regional Mix
Figure 11 North America Will Continue To Dominate The Market In 2025
4.5 Veterinary Reference Laboratories Market: Developing Vs. Developed Countries
Figure 12 Developing Countries To Register Higher Growth During The Forecast Period

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 13 Veterinary Reference Laboratories Market: Drivers, Restraints, Opportunities, And Challenges
5.3 Key Market Drivers
5.3.1 Growth In The Companion Animal Population
Figure 14 Developed Countries: Pet Population & Pet Ownership, 2012 Vs. 2014 Vs. 2017
5.3.2 Growing Demand For Pet Insurance And Increasing Pet Care Expenditure
Figure 15 Us: Pet Industry Expenditure
Table 2 North America: Pet Health Insurance Market, 2012–2018 (Usd Million)
5.3.3 Increasing Number Of Veterinary Practitioners In Developed Economies
Figure 16 Developed Economies: Number Of Veterinary Professionals (2016 Vs. 2018)
5.3.4 Demand For Animal-Derived Food Products
Table 3 Past And Projected Trends In Consumption Patterns Of Meat And Milk In Developed And Developing Countries
5.3.5 Increasing Incidence Of Trans-Boundary And Zoonotic Diseases
5.4 Key Market Restraints
5.4.1 Increasing Pet Care Costs
5.4.2 Growing Demand For Rapid Tests, Poc Testing, And Portable Instruments
5.5 Key Market Opportunities
5.5.1 Untapped Emerging Markets
5.5.2 Public-Private Partnerships In Veterinary Health
5.5.3 Increased Use Of Pcr Testing Panels To Rule Out Covid-19 Virus In Animals
5.6 Key Challenges
5.6.1 Low Awareness In Emerging Markets
5.6.2 Shortage Of Veterinarians In Emerging Markets
Figure 17 Number Of Veterinary Professionals, By Country (2016 Vs. 2018)
5.6.3 Weak Functional And Infrastructural Capacities
5.7 Adjacent & Related Markets
Table 4 Adjacent And Related Markets To The Veterinary Reference Laboratories Industry

6 Industry Insights
6.1 Industry Trends
Figure 18 Adoption Of Multiple Testing Panels And Outsourcing Of Veterinary Diagnostic Services Are The Leading Industry Trends
6.1.1 Covid-19 Impact On Veterinary Reference Laboratories
6.1.2 Adoption Of Multiple Testing Panels
Table 5 Multiple Testing Panels Vs. Single Testing Panels
6.1.3 Outsourcing Of Veterinary Diagnostic Testing Services
6.1.4 Innovation In Diagnostic Products For Quality Service Implementation
6.2 Disease Trends
6.2.1 Livestock Animals
6.2.1.1 Avian Influenza (Ai)
6.2.1.2 African Swine Fever (Asf)
6.2.1.3 Bovine Babesiosis (Bb)
6.2.1.4 Peste Des Petits Ruminants (Ppr)
6.2.1.5 West Nile Virus (Wnv)
6.2.2 Companion Animals
6.2.2.1 Zoonotic Diseases
Table 6 Common Zoonotic Diseases Spread By Companion Animals Across The Globe
6.2.2.2 Obesity & Diabetes
6.3 Regulatory Analysis

7 Veterinary Reference Laboratories Market, By Type Of Service
7.1 Introduction
Table 7 Veterinary Reference Laboratories Market, By Type Of Service, 2017–2019 (Usd Million)
Table 8 Veterinary Reference Laboratories Market, By Type Of Service, 2020–2025 (Usd Million)
Table 9 Veterinary Reference Laboratories Market, By Country, 2017–2019 (Usd Million)
Table 10 Veterinary Reference Laboratories Market, By Country, 2020–2025 (Usd Million)
7.1.1 Impact Of Covid-19 On The Type Of Technologies Used
7.2 Immunodiagnostics
7.2.1 Low Cost & Procedural Complexity Are Driving The Growth Of This Segment
Table 11 Veterinary Reference Laboratories Market For Immunodiagnostic Services, By Country, 2017–2019 (Usd Million)
Table 12 Veterinary Reference Laboratories Market For Immunodiagnostic Services, By Country, 2020–2025 (Usd Million)
7.3 Clinical Chemistry Services
7.3.1 Increasing Pet Healthcare Expenditure And The Rising Number Of Screening Tests Performed To Drive Market Growth
Table 13 Veterinary Reference Laboratories Market For Clinical Chemistry Services, By Country, 2017–2019 (Usd Million)
Table 14 Veterinary Reference Laboratories Market For Clinical Chemistry Services, By Country, 2020–2025 (Usd Million)
7.4 Molecular Diagnostics
7.4.1 Growing Demand For Reliable And Rapid Methods Of Genetic Disorder Detection To Drive Market Growth
Table 15 Veterinary Reference Laboratories Market For Molecular Diagnostic Services, By Country, 2017–2019 (Usd Million)
Table 16 Veterinary Reference Laboratories Market For Molecular Diagnostic Services, By Country, 2020–2025 (Usd Million)
7.5 Hematology
7.5.1 Hematology Services Are Used To Measure Blood Cell Count, Evaluate Leukocyte Morphology, And Count Coagulation Time Of Blood In Animals
Table 17 Veterinary Reference Laboratories Market For Hematology Services, By Country, 2017–2019 (Usd Million)
Table 18 Veterinary Reference Laboratories Market For Hematology Services, By Country, 2020–2025 (Usd Million)
7.6 Urinalysis
7.6.1 Rising Occurrence Of Kidney Diseases In Cats And Dogs To Support The Growth Of This Segment
Table 19 Veterinary Reference Laboratories Market For Urinalysis Services, By Country, 2017–2019 (Usd Million)
Table 20 Veterinary Reference Laboratories Market For Urinalysis Services, By Country, 2020–2025 (Usd Million)
7.7 Other Services
Table 21 Veterinary Reference Laboratories Market For Other Services, By Country, 2017–2019 (Usd Million)
Table 22 Veterinary Reference Laboratories Market For Other Services, By Country, 2020–2025 (Usd Million)

8 Veterinary Reference Laboratories Market, By Application
8.1 Introduction
Figure 19 Clinical Pathology Will Continue To Dominate The Veterinary Reference Laboratories Market During The Forecast Period
Table 23 Veterinary Reference Laboratories Market, By Application, 2017–2019 (Usd Million)
Table 24 Veterinary Reference Laboratories Market, By Application, 2020–2025 (Usd Million)
8.1.1 Impact Of Covid-19 Across Different Application Areas
8.2 Clinical Pathology
8.2.1 Clinical Pathology Dominates The Veterinary Reference Laboratories Market, By Application
Table 25 Veterinary Reference Laboratories Market For Clinical Pathology, By Country, 2017–2019 (Usd Million)
Table 26 Veterinary Reference Laboratories Market For Clinical Pathology, By Country, 2020–2025 (Usd Million)
8.3 Bacteriology
8.3.1 Rising Prevalence Of Zoonotic Diseases Will Drive The Market For Bacteriology
Table 27 Veterinary Reference Laboratories Market For Bacteriology, By Country, 2017–2019 (Usd Million)
Table 28 Veterinary Reference Laboratories Market For Bacteriology, By Country, 2020–2025 (Usd Million)
8.4 Virology
8.4.1 Growing Number Of Viral Outbreaks Is Contributing To Market Growth In This Segment
Table 29 Veterinary Reference Laboratories Market For Virology, By Country, 2017–2019 (Usd Million)
Table 30 Veterinary Reference Laboratories Market For Virology, By Country, 2020–2025 (Usd Million)
8.5 Parasitology
8.5.1 Increasing Prevalence Of Parasitic Diseases Will Support The Growth Of This Application Segment
Table 31 Veterinary Reference Laboratories Market For Parasitology, By Country, 2017–2019 (Usd Million)
Table 32 Veterinary Reference Laboratories Market For Parasitology, By Country, 2020–2025 (Usd Million)
8.6 Productivity Testing
8.6.1 Increasing Focus On Ensuring Quality Of Milk And Meat Is Driving The Demand For Productivity Testing
Table 33 Veterinary Reference Laboratories Market For Productivity Testing, By Country, 2017–2019 (Usd Million)
Table 34 Veterinary Reference Laboratories Market For Productivity Testing, By Country, 2020–2025 (Usd Million)
8.7 Pregnancy Testing
8.7.1 Focus On Breeding And Herd Management Programs Will Drive The Growth Of Testing Services In This Segment
Table 35 Veterinary Reference Laboratories Market For Pregnancy Testing, By Country, 2017–2019 (Usd Million)
Table 36 Veterinary Reference Laboratories Market For Pregnancy Testing, By Country, 2020–2025 (Usd Million)
8.8 Toxicology Testing
8.8.1 Regulation Of Animal Health To Avoid Feed And Animal-Derived Food Contamination Is Driving Market Growth
Table 37 Veterinary Reference Laboratories Market For Toxicology Testing, By Country, 2017–2019 (Usd Million)
Table 38 Veterinary Reference Laboratories Market For Toxicology Testing, By Country, 2020–2025 (Usd Million)

9 Veterinary Reference Laboratory Market, By Animal Type
9.1 Introduction
Table 39 Veterinary Reference Laboratories Market, By Animal Type, 2017–2019 (Usd Million)
Table 40 Veterinary Reference Laboratories Market, By Animal Type, 2020–2025 (Usd Million)
9.1.1 Impact Of Covid-19 Testing In Animals
9.2 Companion Animals
Table 41 Veterinary Reference Laboratories Market For Companion Animals, By Type, 2017–2019 (Usd Million)
Table 42 Veterinary Reference Laboratories Market For Companion Animals, By Type, 2020–2025 (Usd Million)
Table 43 Veterinary Reference Laboratories Market For Companion Animals, By Country, 2017–2019 (Usd Million)
Table 44 Veterinary Reference Laboratories Market For Companion Animals, By Country, 2020–2025 (Usd Million)
9.2.1 Dogs
9.2.1.1 The Veterinary Reference Laboratories Market For Dogs Dominates The Global Market
Table 45 Veterinary Reference Laboratories Market For Dogs, By Country, 2017–2019 (Usd Million)
Table 46 Veterinary Reference Laboratories Market For Dogs, By Country, 2020–2025 (Usd Million)
9.2.2 Cats
9.2.2.1 Rising Prevalence Of Infectious Diseases In Cats Will Drive The Growth Of This Segment
Table 47 Veterinary Reference Laboratories Market For Cats, By Country, 2017–2019 (Usd Million)
Table 48 Veterinary Reference Laboratories Market For Cats, By Country, 2020–2025 (Usd Million)
9.2.3 Horses
9.2.3.1 Global Equine Population Has Witnessed Slow Growth In Recent Years
Table 49 Horse Population, By Region, 2014–2017 (Million)
Table 50 Veterinary Reference Laboratories Market For Horses, By Country, 2017–2019 (Usd Million)
Table 51 Veterinary Reference Laboratories Market For Horses, By Country, 2020–2025 (Usd Million)
9.2.4 Other Companion Animals
Table 52 Veterinary Reference Laboratories Market For Other Companion Animals, By Country, 2017–2019 (Usd Million)
Table 53 Veterinary Reference Laboratories Market For Other Companion Animals, By Country, 2020–2025 (Usd Million)
9.3 Livestock Animals
Table 54 Global Population Of Livestock Animals (Million)
Table 55 Veterinary Reference Laboratories Market For Livestock Animals, By Type, 2017–2019 (Usd Million)
Table 56 Veterinary Reference Laboratories Market For Livestock Animals, By Type, 2020–2025 (Usd Million)
Table 57 Veterinary Reference Laboratories Market For Livestock Animals, By Country, 2017–2019 (Usd Million)
Table 58 Veterinary Reference Laboratories Market For Livestock Animals, By Country, 2020–2025 (Usd Million)
9.3.1 Cattle
9.3.1.1 Early Diagnosis Is Crucial As Cattle Contribute More Than 85% To The Global Milk Supply
Table 59 Cattle Population, By Country, 2012–2016 (Thousand)
Table 60 Veterinary Reference Laboratories Market For Cattle, By Country, 2017–2019 (Usd Million)
Table 61 Veterinary Reference Laboratories Market For Cattle, By Country, 2020–2025 (Usd Million)
9.3.2 Pigs
9.3.2.1 Need To Check Disease Outbreaks And Thereby Reduce Economic Losses Is Driving The Demand For Swine Diagnostics
Table 62 Veterinary Reference Laboratories Market For Pigs, By Country, 2017–2019 (Usd Million)
Table 63 Veterinary Reference Laboratories Market For Pigs, By Country, 2020–2025 (Usd Million)
9.3.3 Poultry
9.3.3.1 Increasing Focus On Animal-Derived Protein Sources From Poultry Will Drive Growth In This Segment
Figure 20 Global Poultry Meat Production, 2016 Vs. 2017 Vs. 2018 (Million Metric Tons)
Table 64 Veterinary Reference Laboratories Market For Poultry, By Country, 2017–2019 (Usd Million)
Table 65 Veterinary Reference Laboratories Market For Poultry, By Country, 2020–2025 (Usd Million)
9.3.4 Other Livestock Animals
Table 66 Veterinary Reference Laboratories Market For Other Livestock Animals, By Country, 2017–2019 (Usd Million)
Table 67 Veterinary Reference Laboratories Market For Other Livestock Animals, By Country, 2020–2025 (Usd Million)

10 Veterinary Reference Laboratories Market, By Region

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