Veterinary Reference Laboratory Market Insights on Scope and Growing Demands 2025

 According to research report the 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%.

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Factors such as increasing demand for animal-derived food products and increasing incidence of transboundary and zoonotic diseases are driving the growth of this market amongst the livestock animals during the forecast period.

The veterinary reference lab market is segmented based on the type of service, application, animal, and region. Due to lockdown restrictions and social distancing protocols due to COVID-19 across various countries through the first half of 2020, the market saw a small dip in the number of veterinary clinic visits for routine testing. However, with the launch of new test kits for COVID-19 testing in pets, the second half of the year is expected to see a rise in the total number of tests in reference laboratories, thus compensating for the loss in revenues across the first two quarters.

The immunodiagnostics segment accounted for the largest share of the veterinary reference lab market, by type of service, in 2019.

Based on the type of service, the market is segmented into clinical chemistry, immunodiagnostics, hematology, urinalysis, molecular diagnostics, and others. In 2019, the immunodiagnostics segment accounted for the largest share of the veterinary reference laboratories market. The low cost, low procedural complexity, and greater adoption due to ease of training are some of the key advantages supporting the adoption of this service.

Clinical pathology is the largest application segment of the veterinary reference laboratories market

Based on application, the veterinary reference laboratories market is segmented into clinical pathology, bacteriology, virology, parasitology, productivity testing, pregnancy testing, and toxicology. In 2019, the clinical pathology segment accounted for the largest market share. The rising volume of pathology tests performed is the major factor driving the demand for diagnostic products and consumables for clinical pathology applications.

The companion animal segment accounted for the larger market in 2019.

Based on animal type, the veterinary reference lab market is segmented into livestock animals and companion animals. In 2019, the companion animal segment accounted for the larger share of this market. Growth in this segment is attributed to the growing adoption of companion animals, increasing disposable incomes, growing willingness of companion animal owners to spend more on animal health, and rising incidence of zoonotic diseases.

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).

Recent Developments

> In April 2020, IDEXX launched the SARS-CoV-2 (COVID-19) RealPCR Test for companion animals in the US.
> In 6-9 months since October 2019, Zoetis acquired three laboratories that have enhanced the company’s portfolio of testing services with the introduction of microbiology, serology, hematology, chemistry, and many other miscellaneous tests.
> In June 2018, Boehringer Ingelheim acquired Newport Laboratories. The service portfolio of Newport Laboratories is expected to complement BI’s animal business unit portfolio and provide a complete solution for disease prevention in livestock animals.
> In September 2017, Mars, Inc. acquired VCA, Inc. in an all-cash transaction. VCA is now functioning as a separate business unit under Mars Petcare. This acquisition helped Mars in delivering comprehensive solutions in the field of animal testing services.

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The veterinary reference laboratories market, by region, is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The increasing adoption of companion animals, the growing pet insurance industry, rising veterinary healthcare expenditure, and the ever-increasing number of veterinary practices are driving the growth of the North American veterinary reference lab market.

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Veterinary Reference Laboratory Market Top Players | Industry Report - 2024

According to research report Veterinary Reference Laboratory Market is projected to reach a value of USD 4.8 billion by 2024, at a CAGR of 10.7% during the forecast period. In 2018, IDEXX Laboratories, Inc. (US), VCA, Inc. (US), and GD Animal Health (Netherlands) dominated the global veterinary reference laboratories market, accounting for more than 70% of the total market share.

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Some of the other prominent players operating in the veterinary reference laboratories market are Zoetis, Inc. (US), Neogen Corporation (US), Boehringer Ingelheim (Germany), Marshfield Labs (US), ProtaTek Internationals, Inc. (US), Texas A&M Veterinary Medical Diagnostic Laboratory (US), Veterinary Diagnostic Laboratory - University of Minnesota (US), and Veterinary Diagnostic Laboratory, Iowa State University (US).

IDEXX Laboratories, Inc. (US) dominated the global veterinary reference laboratories market 2018. The company has a diversified product portfolio, which includes a wide range of companion animal diagnostic products. IDEXX’s leading position in this market can be attributed to its active R&D activities and an extensive distribution footprint across the globe. To garner a larger share in this market, IDEXX continuously focuses on inorganic growth strategies such as acquisitions. The company was involved in the acquisition of five veterinary reference laboratories in FY 2017-18.

VCA, Inc. (US) accounted for the second-largest share of the veterinary reference laboratories market in 2018. The company offers a strong portfolio of products and services in the veterinary diagnostics industry through 65 of its veterinary diagnostic laboratories. VCA provides diagnostic testing for more than 15,000 clients, including standard hospitals for small animals, large animal practices, universities, and other government organizations. The company’s leading position in this market can be attributed to its diagnostic imaging product offerings and consulting services, and its strong relationships with its customers. In order to remain competitive in this market, the company focuses on increasing its customer base. In September 2017, VCA was acquired by one of the leading veterinary health providers, Mars Inc., and now functions as a separate business unit within Mars Petcare.

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North America will continue to dominate the veterinary reference laboratories market in 2024
In 2018, North America accounted for the largest share of the veterinary reference laboratories market, followed by Europe. The increasing adoption of companion animals, the growing pet insurance industry, rising veterinary healthcare expenditure, and the growing number of veterinary practices are driving the growth of the North American veterinary reference laboratories market.

Veterinary reference laboratory market worth $2.8 billion by 2021

The veterinary reference laboratory market is expected to reach USD 2.8 billion by 2021 from an estimated USD 1.7 billion in 2016, at a CAGR of 9.8%. The rising animal health expenditure, growing demand for pet insurance, increasing incidences of zoonotic diseases, and growth in the number of veterinarians and their rise in income levels in developed countries are the significant growth drivers of the veterinary reference laboratory market.

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“The clinical chemistry segment is expected to dominate the veterinary reference laboratory market during the forecast period.”

On the basis of technology, the veterinary reference laboratory market is segmented in clinical chemistry, hematology, immunodiagnostics, and molecular duiagnostics. The clinical chemistry segment is expected to account for the largest share of the veterinary reference laboratory market in 2015. The large share of this segment can be attributed to its wide applications in small veterinary clinics and hospitals as well as in reference laboratories. Clinical chemistry is one of the most important areas in clinical laboratory analysis and this field has advanced significantly in recent years. In the veterinary industry, clinical chemistry tests are used to diagnose diseases, screen disease progression, and observe responses of patients to therapy.

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“Clinical pathology to hold the largest market share between 2016 and 2021.”

Based on applications, the market has been classified into clinical pathology, bacteriology, parasitology, virology, productivity testing, pregnancy testing, and toxicology. In 2015, clinical pathology accounted for the largest market share owing to the high number of diagnostic tests fall under this application. In clinical pathology, diagnosis of diseases is carried out by using samples such as blood and other bodily fluids, tissues, and microscopic evaluation of individual cells. Clinical pathology encompasses hematology, clinical chemistry, cytopathology, endocrinology, urinalysis, coagulation, immunohematology, and general pathology. In case of chronic disease conditions, veterinarians recommend routine blood check-ups where clinical pathologists work along with veterinarians to evaluate the cause of the disease.

“The companion animals segment to account for the largest market share in 2015.”

Based on animal type, the veterinary reference laboratories market is categorized into companion animals and food-producing animals. In 2015, the companion animals segment accounted for the largest share of around 68.7% of the global veterinary reference laboratories market. The large share of this segment is mainly due to the rising demand for pet health insurance, increase in the animal healthcare expenditure, and greater concerns about zoonotic diseases.

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“North America to dominate the market in 2015.”

The global veterinary reference laboratory market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (Latin America, and the Middle East & Africa). In 2015, North America accounted for the largest share of the veterinary reference laboratory market. The rise in the consumption of animal-derived food products, increasing demand for companion animal healthcare products, rising awareness about zoonotic diseases, and rising demand for innovative diagnostic testing services by veterinarians, pet owners, and food-producing animal producers in this region are some of the key factors driving the growth of the veterinary reference laboratory market in North America.

The prominent players in the global veterinary reference laboratory market are IDEXX Laboratories, Inc. (US), VCA, Inc. (Mars, Incorporated) (US), GD Animal Health (Netherlands), National Veterinary Services Laboratory (US), Animal and Plant Health Agency (DEFRA APHA Scientific) (UK), Animal Health Diagnostic Center (Cornell University) (US), Greencross Limited (Australia), Gribbles Veterinary Pathology (Australia), Phoenix Central Laboratory for Veterinarians, Inc. (US), Zoetis, Inc. (US), Neogen Corporation (US), ProtaTek Internationals Inc. (US), Wisconsin Veterinary Diagnostic Laboratory (US), and Washington State University Veterinary Clinical Pathology Laboratory (US).

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Study Coverage

This report describes and studies the global veterinary reference laboratory market on the basis of technology, application, animal type, and region. It provides detailed information regarding the major factors influencing the growth of this market. The report includes in-depth competitive analysis of the prominent players in this market along with their company profiles, product portfolios, recent developments, and key business strategies.

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