Global Veterinary Reference Laboratory Market by Technology (Molecular Diagnostics, Hematology, Immunodiagnostics, Clinical Chemistry) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

Global veterinary reference laboratory (VRL), market was worth USD 2.350 billion in 2016. It is forecast to grow at a CAGR of 9.1% over the forecast period. The demand for animal health diagnostics and monitoring services has increased due to the increasing prevalence of zoonotic disease. This is expected to drive market growth in the future. Additionally, zoonotic disease is a significant public health problem, particularly in tropical regions that lack adequate healthcare infrastructure and financial resources.

There are three types of zoonotic diseases: bacterial (brucellosis and tuberculosis), viral (yellow flu, HIV infection, and rabies) and parasitic. The risk of contracting zoonotic diseases through contact with animals, ticks, and fleas is high. Lyme and rabies are also possible from zoonotic infections. This will increase the number of reference labs that are being set up to improve animal health in the future.

Consumer awareness about the importance of maintaining the health of animals and those who come in contact with them, will increase adoption of veterinary diagnostics, which is expected to propel the VRL market in the future. The future period will see a high demand for laboratory testing services due to strict regulations in the agricultural sector.

Researchers are expected to benefit from the rapid development of therapeutics through the use of veterinary information systems in developed countries. Many veterinarians now use tests to measure blood count and chemistry panels. The industry is also seeing an increase in the use of veterinary software within laboratories.

Technology Insights

VRLs use a variety of technologies to detect and monitor various veterinary-related diseases. Because of its many applications in disease monitoring and diagnosis, the clinical chemistry technology segment has dominated this industry. The demand for clinical analysis analyzers to evaluate general veterinary health profiles has increased in recent years which is also contributing to its dominance.

Clinical chemistry tests use bodily fluids such as blood and urine to analyze the functionality and capabilities of the entire metabolism. These parameters provide important information for disease diagnosis and monitoring. This technology includes sample collection, analysis, consultation, and consulting. This procedure uses instruments such as an automatic analyzer, immulite automated chemical chemiluminescent immuneassay system and osmometer.

The future growth of this segment is expected to be significant due to increased initiatives in veterinary health care, as well as the availability of cost-efficient methods for disease diagnosis and monitoring. The clinical chemistry analyzers include consumables and instruments. Over the forecast period, consumables will experience lucrative growth.

Segment growth is expected to be driven by the increased adoption of immunodiagnostic tools for veterinarian use, such as advanced diagnostic platforms or immunoassay formats. Over the forecast period, the demand for immunodiagnostics tests to support veterinary health is expected to grow due to increased demand for animal-derived foods and companion animals.

Application Insights

Due to widespread adoption of routine pet health monitoring tests, the clinical pathology segment had the highest revenue share in 2016. For referring veterinarian clients and veterinarians, clinical pathology laboratories provide routine blood analysis of animals. They offer many tests such as blood gas analysis, chemistry analysis and complete blood cell count. These laboratories also provide consultancy services for veterinary clinical pathologists.

Due to the growing demand for toxicology testing services, the segment of toxicology is expected to see significant growth in the next few years. To maintain human and veterinary healthcare, strict food safety regulations will increase the use of these tests. Veterinary toxicology is the diagnosis and treatment of poisoning.

To avoid livestock losses due to contamination, there is an increase in the need to study veterinary toxicology. Animal deaths and severe illness caused by melamine contamination of swine feed or pet jerky treats have highlighted the importance of veterinary poisonology for animal safety and health. The adoption of toxicology testing will increase due to the rising incidence of arsenic and mercury in pet foods.

Due to rising demand for high-productivity animals, the productivity testing segment will experience a lucrative growth over the next few years. Moreover, the segment will benefit from an increase in R&D investment and the introduction of new products. IDEXX Laboratories launched the Rapid Visual Pregnancy Test in June 2016. This point-of care test for cattle helps to identify open cows after 28 days of breeding and improves reproductive efficiency.

Information on Animal Types

In 2016, the industry's share of the animal type segment was dominated by production animals. This can be attributed to the high consumption of meat and milk. Due to increased animal ownership, the companion animals segment will grow at a rapid pace over the forecast period. Numerous studies have shown that bonding with animals can lead to health benefits. One of the main contributing factors is the increased government support for animal welfare.

The adoption of VRL is expected to increase as a result of increased government efforts for food safety and sustainability around the world. Global regulatory authorities aim to ensure total food security. This will increase food production and lead to a greater need for animals. These regulations are focused on the sustainability of food products. This can be achieved through the maintenance of animal health by veterinary laboratory services.

Due to increased awareness and demand for effective animal care, the companion animal market is expected to grow at an impressive rate over the forecast period. The associated health benefits of animal ownership, including lower blood pressure, psychological stability and a reduced incidence of anxiety attacks and cardiac arrhythmias, have been noted. This helps to improve the well-being of people.

Adoption of immunodiagnostic and hematology is an important factor in the growth of the segment. To increase the growth prospects of this segment, industry leaders are constantly striving to develop innovative and highly efficient animal products.

Regional Insights

North America dominated the market and will continue to do so throughout the forecast period. The segment's greater share is due to the presence of major players, high healthcare spending, and advanced healthcare infrastructure.

Global market growth is being accelerated by factors such as an increase in reported veterinary diseases & veterinary organizations like World Small Animal Veterinary Association, and an increase in animal care spending.

Due to unmet medical needs, increased healthcare spending, and establishment of VRLs in the region by global players, Asia Pacific is expected to experience lucrative growth over the forecast period. This industry is driven by the increased investment by global market players in R&D as well as persistent efforts to commercialize veterinary diagnostics and monitoring services at relatively low prices.

Market growth will also be driven by the urgent need for zoonotic disease prevention and management of emerging diseases such as Ebola and swine flu in developing countries. Market growth is being fueled by the rising economic stability of emerging economies like China and India. Also, the increasing number of animal welfare government and private organizations are encouraging the adoption of animal health products.

Competitive Insights

Over the forecast period, industry rivalry will remain high. IDEXX Laboratories, Inc., VCA, Inc., GD Animal Health, Greencross Ltd., Zoetis, Gribbles Veterinary, Phoenix Lab, Neogen Corporation, and ProtaTek International, Inc. are some of the key industry players. Due to the increasing demand for VRLs, there is fierce competition in this industry.

In an effort to capture more market share, industry players are implementing extensive growth strategies such as strategic alliances and product differentiation. Industry rivalry will be kept at bay by the development of sustainable, high-quality products by market leaders.

Industry growth is driven by sudden disease outbreaks and emergency situations. This drives the demand for VRLs in pet health. As it requires high investment and strict regulatory approvals, emerging players will have limited opportunities.

The report covers segments

This report predicts revenue growth at the global, regional, and country levels. It also analyzes the industry trends for each sub-segment from 2014 to 2025. Grand View Research has divided the global veterinary reference lab market on the basis technology, animal type, region, and application.

• Technology Outlook (Revenue USD Million, 2014-2025)

  • Clinical Chemistry

  • Hematology

  • Immunodiagnostics

    • ELISA

    • Rapid Tests of Lateral Flow

    • Other

  • Molecular Diagnostics

    • PCR

    • Microarrays

    • Other

  • Other

• App Outlook (Revenue USD Million, 2014-2025)

  • Clinical Pathology

  • Toxicology

  • Productivity Testing

  • Other

• The Animal Type Outlook (Revenue USD Million, 2014-2025)

  • Production animals

  • Companion Animals

• Regional Outlook (Revenue USD Million, 2014-2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • The Middle East and Africa

    • South Africa

Up Market Research published a new report titled “Veterinary Reference Laboratory Market research report which is segmented by Technology (Molecular Diagnostics, Hematology, Immunodiagnostics, Clinical Chemistry), By Players/Companies Clinical Chemistry, ELISA, Others, Lateral Flow Rapid Tests, Technology Outlook (Revenue USD Million 2014 - 2025)Clinical ChemistryHematologyImmunodiagnosticsELISALateral Flow Rapid TestsOthers, ImmunodiagnosticsELISALateral Flow Rapid TestsOthers, Hematology”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Veterinary Reference Laboratory Market Report Segments:

The market is segmented by Technology (Molecular Diagnostics, Hematology, Immunodiagnostics, Clinical Chemistry).

Veterinary Reference Laboratory Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Veterinary Reference Laboratory Market

Overview of the regional outlook of the Veterinary Reference Laboratory Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Veterinary Reference Laboratory Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Veterinary Reference Laboratory Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Molecular Diagnostics

                2. Hematology

                3. Immunodiagnostics

                4. Clinical Chemistry

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Veterinary Reference Laboratory Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Veterinary Reference Laboratory Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.