Veterinary Reference Laboratory Growth Trajectory: Key Forecasts and Strategic Insights
Discover trends, market shifts, and competitive outlooks for the veterinary reference laboratory industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
#What Are the Key Milestones in the Veterinary Reference Laboratory Market’s Growth Trajectory From 2025 To 2034?
The market size of the veterinary reference laboratory has seen a swift expansion in the past few years. Projected growth predicts an increase from $4.33 billion in 2024 to $4.83 billion in 2025, marking a compound annual growth rate (CAGR) of 11.5%. Factors contributing to the growth during the historic period include the upsurge in pet ownership, advancements in the field of veterinary medicine, increased awareness about animal health, and government-driven initiatives.
In the coming years, the veterinary reference laboratory market size is set to experience a significant surge, with its value expected to reach $7.58 billion in 2029 with a compound annual growth rate (CAGR) of 11.9%. Factors that will contribute to growth over the forecast period include the increasing worldwide trade in pets, a heightened demand for specialized testing services, and a growing emphasis on preventative healthcare. Key trends during the forecast period are expected to include technological advancements, the incorporation of IT, the expansion of telemedicine in veterinary care, the internationalization of veterinary services, broader test menus and specialization, and an emphasis on point-of-care testing.
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Which Factors and External Forces Are Driving Demand in the Veterinary Reference Laboratory Market?
The growth of the veterinary reference laboratories market is set to be fueled by the rising prevalence of zoonotic diseases. Such diseases are a result of harmful bacteria, viruses, parasites, and fungi, and they can cause a variety of illnesses in humans and animals, ranging from mild to severe or even fatal. With their ability to prevent these diseases, veterinary reference laboratories play a vital role in supporting animal health and welfare, ensuring safe food sources, and maintaining public health. As per the data from the Centers for Disease Control and Prevention in July 2022, a government agency in the US, zoonotic diseases are quite widespread, both within the country and globally. The agency’s scientists estimate that over 60% of known infectious diseases in humans can be traced back to animals, and about 75% of new or emerging infectious diseases are animal-borne. As a result, the escalation in zoonotic diseases is accelerating the expansion of the veterinary reference laboratories market.
Which Segments in the Veterinary Reference Laboratory Offer the Most Growth?
The veterinary reference laboratory market covered in this report is segmented –
1) By Services: Clinical Chemistry, Hematology, Immunodiagnostics, Urinalysis, Molecular Diagnostics, Other Services
2) By Animal Type: Companion Animals, Livestock Animals
3) By Application: Clinical Pathology, Bacteriology, Parasitology, Virology, Productivity Testing, Pregnancy Testing, Toxicology Testing
4) By End User: Veterinary Hospitals, Veterinary Clinics
Subsegments:
1) By Clinical Chemistry: Blood Biochemistry Panels, Electrolyte Analysis, Liver And Kidney Function Tests
2) By Hematology: Complete Blood Count (CBC), Coagulation Testing, Blood Smear Analysis
3) By Immunodiagnostics: Serology Testing, Antibody And Antigen Testing, Allergy Testing
4) By Urinalysis: Urine Chemistry Analysis, Microscopic Examination, Urine Culture And Sensitivity
5) By Molecular Diagnostics: PCR Testing, Genetic Testing, Infectious Disease Detection
6) By Other Services: Cytology, Histopathology, Parasitology
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What Are the Fastest-Growing Geographies in the #Which Factors and External Forces Are Driving Demand in the Veterinary Reference Laboratory Market?# Market?
North America was the largest region in the veterinary reference laboratory market in 2024.The regions covered in the veterinary reference laboratory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which Cutting-Edge Market Trends Are Expected to Drive theVeterinary Reference Laboratory Market’s Growth?
Prominent enterprises in the veterinary reference laboratories market have been directing their efforts towards developing sophisticated analytical solutions like Vello, aiming to improve veterinary diagnostics and simplify lab processes. Vello is a revolutionary diagnostic tool purposed to deliver quick and precise test results for veterinary health evaluations and disease management. For example, IDEXX Laboratories Inc., an American firm involved in delivering products and services for companion animal veterinary, water testing, livestock and poultry, and dairy, unveiled Vello, an inventive Pet Owner Engagement Software Solution, in February 2024. This platform facilitates seamless connections between practices and clients. It’s an exclusive pet owner engagement solution designed specifically for IDEXX practice management software, promoting effective communication for veterinary practices using ezyVet®, Neo®, and Cornerstone®. Vello includes automated prompts, alerts for health services, and a mobile web platform that’s user friendly, facilitating easy access to pet records and scheduling appointments. Such a streamlined approach boosts the productivity of practices, nurtures better client relationships, and enhances overall pet care.
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What Are the Key Elements That Define the Veterinary Reference Laboratory Market?
The veterinary reference laboratory refers to facilities that perform key veterinary science duties such as disease diagnosis, treatment options determination, prevention, and monitoring. It is used to provide accurate disease diagnosis, monitor outbreaks, and support veterinary practices with expert analysis and guidance.
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