An international Veterinary Reference Laboratory Market research report contains the most recent, ample, and most advanced market information and a precious data. Different types of tables, charts and graphs are exploited in the report wherever applicable for the clear understanding of complex information and data. The insights covered in the report will lead to an actionable ideas, better decision-making and better business strategies. Furthermore, the data is again checked and verified by the market experts before publishing it through the market report and providing it to the client. A persuasive Veterinary Reference Laboratory Market research report comprises of several parameters which are thoroughly studied by the experts.
Veterinary Reference Laboratory Market by Service Type (Clinical Chemistry, Hematology, Immunodiagnostics, Molecular Diagnostics), Application (Pathology, Bacteriology, Virology, Parasitology), Animal, and Region – Global Forecast to 2025
Get Full PDF Sample Copy of Report: (Including Full TOC, List of Tables & Figures, Chart) @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=590848
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%. Prominent players in the veterinary reference laboratories market are 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 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.
“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.
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 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.
For More Information or Query or Customization Before Buying, Visit @ https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=590848
Table Of Contents
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
2 Research Methodology
2.1 Research Approach
Figure 1 Research Design
2.1.1 Secondary Sources
126.96.36.199 Key Data From Secondary Sources
2.1.2 Primary Sources
Table 1 List Of Stakeholders Interviewed For The Study
188.8.131.52 Key Data From Primary Sources
184.108.40.206 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
5.2 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