The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s veterinary laboratory testing services market report forecasts the veterinary laboratory testing services market size to grow to $36.19 Billion by 2027, with a CAGR (compound annual growth rate) of almost 9%.

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Veterinary Laboratory Testing Services Market Size Forecast
The global veterinary laboratory testing services market is expected to grow from $23.39 billion in 2022 to $25.75 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global veterinary laboratory testing services market size is expected to grow from $36.19 billion in 2027 at a CAGR of 8.9%.

North America held the largest veterinary laboratory testing services market share.

Key Veterinary Laboratory Testing Services Market Driver ­– Rise In The Prevalence Of Disease Epidemics In Animals
For instance, cattle are getting infected by a wide group of pathogens, which is leading to a rise in the number of laboratory tests done for cattle. Moreover, livestock globally is becoming vulnerable to infectious diseases caused by pathogens and viruses. For instance, Salmonella and Campylobacter are the two most common zoonotic pathogens that are present in the intestine tracts of animals, such as chickens, swine, and cattle, and are leading causes of foodborne disease worldwide. These diseases get passed through the food chain to humans, which is a potential threat. Therefore, efforts to curb these infections in animals are driving the market for veterinary laboratory testing. The FoodNet system (Center for Disease Control and Prevention, USA) identified 24,484 foodborne illnesses, 5,677 hospitalizations, and 122 deaths. The highest incidences per 100,000 people were for Campylobacter, Salmonella, and Shigella(these are organisms causing bacterial gastroenteritis, which is a digestive problem) in the USA.

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Key Veterinary Laboratory Testing Services Market Trend – Adopting Multiple Testing Panels
The companies in the veterinary laboratory testing services are increasingly adopting multiple testing panels. A test panel is a pre-decided group of medical tests to be used in the diagnosis as well as the treatment of an animal disease. The test panels are normally composed of individual laboratory tests, which are grouped by specimen type, the methodology used, or by the most frequently requested tests. Multiple test panels offer various advantages, such as labour efficiency, automation, and reduced costs, achieved by conducting a large number of tests daily. For instance, Abaxis Inc. is using multiple single-use test panels designed to address several conditions, wherein just 3 to 4 drops of blood are required to deliver up to 14 precise results.

Veterinary Laboratory Testing Services Market Segment
1) By Technology: Clinical Biochemistry, Immunodiagnostics, Hematology, Molecular Diagnostics, Urinalysis, Other Technologies
2) By Animal Type: Pet Animals, Livestock
3) By End User: Veterinary Hospitals And Clinics, Diagnostic Laboratories, Research Institutes, In-House Testing, Other End Users

Veterinary Laboratory Testing Services Market Major Players and Strategies
Major players in the veterinary laboratory testing services market are ABAXIS, Inc., IDEXX Laboratories, Inc., Heska Corporation, Pfizer Animal Health, Neogen Corporation, Thermo Fisher Scientific Inc., Zoetis, Inc., IDVet, Virbac, Zoetis, VCA Antech, Inc., and Prionics AG.

In February 2020, Zoetis, Inc., a US-based animal health company specializing in the discovery, development, production, and marketing of animal health drugs, acquired Ethos Diagnostic Science for an undisclosed amount. Through this acquisition, Zoetis continues to expand its diagnostics presence in order to provide American veterinarians with comprehensive services at an improved value. Ethos Diagnostic Science is a US-based veterinary diagnostic company pioneering in various types of diagnostic testing and clinical chemistry.

The Veterinary Laboratory Testing Services Global Market Report 2023 covers regional data on veterinary laboratory testing services market size, veterinary laboratory testing services market trends and drivers, opportunities, strategies, and veterinary laboratory testing services market competitor analysis. The countries covered in the veterinary laboratory testing services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Veterinary services refers to various tests conducted for diagnosis of infectious agents, toxins, and other causes of diseases in animals.

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