Expert Market Research’s new report titled ‘Global Veterinary Reference Laboratories Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global Veterinary Reference Laboratories market, assessing the market based on its segments such as technology, application, animal type and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 9%
The combined growth of veterinary laboratories and the availability of qualified veterinarians is propelling the veterinary referral laboratory market. Growing awareness and concern for animal health is leading to a growing trend of animal diagnosis and disease management in their homes. The active effort to maintain animal welfare is supporting the growth of the veterinary reference laboratory market. In the same vein, the research and development of new and innovative drugs contributes greatly to the growth of the industry.
Ownership of pets in urban areas is increasing dramatically, especially cats and dogs. This in turn increases the demand for veterinary diagnostics to prevent the risk of infection from zoonotic diseases. With the pandemic on the scene, the demand for such labs has further increased to keep pets safe. A growing number of pet owners prefer polymerase chain reaction (PCR) to detect viral diseases because it offers a fast and accurate test.
Industry definition and major segments
The reference veterinary laboratory is a veterinary diagnostic laboratory. He receives a sample from another laboratory in order to carry out tests for an effective diagnosis. These laboratories provide accurate, precise and reliable results for pathology testing, advanced diagnostics and routine animal testing.
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On the basis of technology, the market is segmented into:
- clinical chemistry
- Lateral Flow Rapid Tests
- Molecular diagnostics
Based on Application, the market is split into:
- Clinical pathology
- Productivity tests
The market is categorized as follows, based on the type of animal:
- Production animals
- Sheep and goats
Major regional markets include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Through research activities, the development of advanced and quality veterinary diagnostic methods helps to offer better diagnosis of various diseases. The introduction of new techniques such as western blot and polymerase chain reaction (PCR) is driving the growth of the veterinary reference laboratory market. Additionally, advanced monoclonal antibodies, recombinant antigens, and synthetic peptides provide quality diagnosis of zoonotic diseases. The production of specific proteins and peptides for different biotechnological methods such as immunogen overexpression and gene cloning is expected to drive the market growth over the forecast period. Furthermore, it is observed that the increasing popularity of diagnostic kits with the aim of effectively detecting parasitic movements is giving impetus to the market.
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Main market players
Major market players include Heska Corporation, Randox Laboratories Ltd., Zoetis Inc., IDEXX Laboratories, Inc., and Virbac SA, among others.
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