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 reference laboratory market report forecasts the veterinary reference laboratory market size to grow to $6.53 Billion by 2027, with a CAGR (compound annual growth rate) of more than 12%.

Learn More On The Veterinary Reference Laboratory Market Report 2023 – https://www.thebusinessresearchcompany.com/report/veterinary-reference-laboratory-global-market-report

Veterinary Reference Laboratory Market Size Forecast
The global veterinary reference laboratory market is expected to grow from $3.54 billion in 2022 to $4.04 billion in 2023 at a compound annual growth rate (CAGR) of 14.1%. 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 veterinary reference laboratory market size is expected to grow to $6.53 billion in 2027 at a CAGR of 12.8%.

North America held the largest veterinary reference laboratory market share.

Key Veterinary Reference Laboratory Market Driver ­– Increase In The Prevalence Of Zoonotic Diseases
For instance, in March 2020, according to National Center for Biotechnology Information, a US-based branch of the National Institutes of Health, in 2020 India, 816 of the 1407 human diseases were zoonotic, meaning they may be spread naturally between animals and humans. These pathogens include 538 bacteria and rickettsia, 317 fungi, 208 viruses, 287 helminths, and 57 protozoa. It was also noted that 177 (13%) of the total pathogens were developing or re-emerging, with 130 (75%) of these being categorized as zoonoses. Therefore, the increasing prevalence of zoonotic diseases is driving the growth of the veterinary reference laboratories market.

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Key Veterinary Reference Laboratory Market Trend – Technological Advancement
Major companies operating in the veterinary reference laboratories market are concentrating their efforts on creating innovative technologies in to sustain their position. For instance, in January 2020, IDEXX Laboratories Inc., a US-based company engaged in the distribution of products and services for companion animal veterinary, water testing, livestock and poultry, and dairy, launched IDEXX’s proprietary VetConnect PLUS, a new rapid digital cytology service that digitally connects veterinarians to the world’s largest network of more than 100 veterinary clinical pathologists, allowing them to receive cytology interpretations in as little as 2 hours, the service will be available 24 hours a day, seven days a week, 365 days a year. IDEXX has also integrated digital cytology capacity into its reference laboratories, allowing veterinarians who submit cytology cases to IDEXX Reference Laboratories to benefit from shorter turnaround times as well as expanded access to IDEXX’s world-class network of pathologists. Several reference laboratory digital cytology customers now benefit from deeper case collaboration among IDEXX’s diverse expertise, as well as increased capacity to guide cases to the pathologist best suited to provide an interpretation.

Veterinary Reference Laboratory Market Segment
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

Veterinary Reference Laboratory Market Major Players and Strategies
Major players in the veterinary reference laboratory market are IDEXX Laboratories Inc., VCA Animal Hospitals, GD Animal Health, Boehringer Ingelheim, Zoetis Inc., Neogen Corporation, Laboklin GmbH & Co. KG, SYNLAB International GmbH, Heska Corporation, Virbac, Thermo Fisher Scientific Inc., Texas A&M Veterinary Medical Diagnostic Laboratory, University of Minnesota, Iowa State University, Vetnostics, ProtaTek International Inc., Animal and Plant Health Agency, Animal Health Diagnostic Center, National Veterinary Services Laboratory USDA-APHIS, Washington Animal Disease Diagnostic Laboratory, Kansas State Veterinary Diagnostic Laboratory, Randox Laboratories Ltd., Greencross Ltd., and Gribbles Veterinary.

In September 2021, Heska Corporation, a US-based company engaged in advanced veterinary diagnostic and specialty products acquired Biotech Laboratories U.S.A. LLC for an undisclosed amount. With this acquisition, Biotech, a Heska-owned global product line, and intellectual property portfolio and aims to expand its product portfolio to deliver vital tests to thousands of point-of-care diagnostics subscribers worldwide. Biotech Laboratories U.S.A. LLC is a US-based company engaged in rapid point-of-care tests to detect antigens and antibodies associated with infectious and parasitic diseases of animals.

The Veterinary Reference Laboratory Global Market Report 2023 covers regional data on veterinary reference laboratory market size, veterinary reference laboratory market trends and drivers, opportunities, strategies, and veterinary reference laboratory market competitor analysis. The countries covered in the veterinary reference laboratory 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.

The veterinary reference laboratory refers to facilities that perform key veterinary science duties such as disease diagnosis, treatment options determination, prevention, and monitoring.

View More Reports Related To The Veterinary Reference Laboratory Market –
Veterinary Laboratory Testing Services Global Market Report 2023
Veterinary Patient Monitoring Equipment Global Market Report 2023
Veterinary Healthcare Global Market Report 2023

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